Free to list portal Residential People is launching a new cloud-based platform which it says will help agents use Amazon-style technology to identify customers and their preferences.
The platform - to be called NurturingAI - uses artificial intelligence in its CRM to create what it describes as “collaborative filtering” - a method of predicting future preferences and purchases by property-focussed customers.
Over 500 agents have so far expressed an interest in the concept and Residential People founder Christopher May says: “Quite rightly agents are protective of their data, but many do not do anything to make profit from it either. NurturingAI helps to nurture and harvest potential prospects so that a branch is constantly in touch with their customers even whilst they sleep.”
He continues: “Advertising on portals is great for generating data, but we want to hand that data back to agents, so they are less reliant on portals. nurturingAI is able to market across many different digital channels and is designed to help push traffic back to the agent’s website.
“If you take a postcode with 20,000 households, many agents will cross paths with them over a period of time. By nurturing and treating the data they receive from their marketing and portal activities, it is possible for agents to build a very powerful database that will increase and keep their revenue flowing.”
May suggests this is the opposite of traditional property portal activity, which h uses the agents’ own data - their inventories - with little offered in return.
“A big selling point when selling or buying an estate agency business is their database of customers and potential customers, data in any business is a real selling point and should be treated with respect” he concludes.