Hot Real Estate Leads vs Cold Data: Revaluate Data Repair
Hot real estate leads are harder to come by these days, and it’s due in part to cold data. It’s not your fault, there never has been a good solution. However, it’s likely that greater than one third of your database is bad. More specifically, you have incorrect email, dated phone numbers, wrong addresses, and all the important details that actually enable you to make contact with someone. Thus, you are missing out on one third of your listings and one third of your commissions. Bad data equals lost income.
How did we get here?
In an average year, around 10% of your database moves, rendering that contact info obsolete. Additionally, sixteen percent of databases are junk. Bart Simpson is not a prospect, neither is someone with profanity in their email address. It’s also going to be pretty hard to sell a home to all the other real estate agents, title reps and mortgage LO’s that are in your database. On top of that, the new leads that you buy each year also frequently lack all four critical components that make up good data: Full Name, Email, Phone and Physical Address.
Without all four critical data components, a contact is incomplete, causing your marketing and sales efforts to be wasted. For example: Without a phone number your automated text campaigns will fall short. Without a physical address, your prospect may now live in another city and your personalized direct mail gets mocked. And without email, well, what is even the point? Despite your best intentions, investments and well thought out campaigns your follow up and strategy waste adds up quickly – especially when you are investing in expensive leads and processes.
The Goal and The Solution
The goal is to have good, clean, reliable, up to date data so you can have a chance to win the listings that are in your database that will transact this spring. The solution is Revaluate Data Repair. With Repair, the Revaluate team will detox and then update your database with current contact information, filling in the gaps where you had missing data and increasing your opportunities for listings.
The One Big Mistake
There are high producing teams in his industry that I highly respect that make this one big mistake. Just because they can do something, does not mean they ought to do so. But they have admitted to me that they toil and fret over updating and cleaning their database – investing days of time with not great results. They even go contact by contact to update it manually. The larger the database, the more daunting the task. Does this sound a bit like you? It’s ok, you are not alone. The other good news is that Revaluate Data Repair has an average turnaround time of 24 hours. The cost is reasonable and you don’t have to be a Revaluate customer to access this service.
Hats Off To You
To celebrate the launch of Repair we are giving away prizes like hats and Free Revaluate Data Repair. 1 in 5 will win! (I know what you are thinking, “HEY that’s the SAME ratio as the Revaluate Scoring Accuracy? Is that a coincidence?” No. No, it is not a coincidence at all. It’s a shameless plug to cross promote Revaluate’s Reveal product accuracy where we predict who will move inside your database in the next 6 months.) Fill out this data survey for a chance to win.
For us, this isn’t rocket science. It’s pretty easy. We’ve been working on our clients databases since 2014 predicting who will move in the next six months. What we know for sure is that bad data is persistent. And good, clean, up to date data improves our clients number of successes earning them more commissions. IE: Accurate Data = Greater Commissions and lower marketing expenses.
For most in the industry, we recommend repairing your database every year, and with Revaluate Data Repair we make that dreadful task easy and turn key. Set up your time to chat with our data experts for a free data audit here. Or enter to win free data repair here with this 90 second data survey.