7 Real Estate Data Tools to Superpower Your Brokerage

We’re not talking commercial analytics, public record information, property data, and AVM companies. I’ve written about those companies in another article.

We’re also not talking about general market stats. If you want to know the market trends, I recommend checking out the following real estate data sources:

• NAR Research and Statistics
• Case-Shiller
• Zillow Economic Data
• University-based real estate centers like the TAMU Real Estate Center

Instead, we are talking about “big” data in real estate and how they can help brokers. It’s not just the big companies using Mode Analytics, Power BI, and Tableau to suck out data insights in the industry. Small companies and enterprises can take advantage of their own data, as well.

Buyside

Buyside probably isn’t what you think just based on the name.

As a tool, it is actually oriented toward serving your sellers.

But, when done well, it can help you earn the buyers side of the transaction as well. Hence the name

Buyside is essentially a fancy listing presentation. It uses your data in your database as well as at large to estimate how many buyers are searching for a particular listing at a given time. You can tell your seller at the listing presentation that 40 buyers searched for homes like theirs in the last week. That is a data insight that can help determine how long a property may be on the market.

It then serves you, the agent, in that it can match buyers from your own database to the listing, pairing buyers and sellers all within your own ecosystem and brokerage.

Here is an example from an agent on how it works for them.

Buyside was a nominee for Inman’s Most Innovative Companies of 2017 award.

Buyside is a broker and enterprise-focused solution ideal for entrepreneurs wanting to add to their listing presentation as well as make the most of their database.

Revaluate

You keep hearing about predictive analytics from the likes of lead providers like SmartZip and Offrs.

With Revaluate, you can bring that in-house.

Revaluate takes your existing database and gives you rankings of the folks most likely to move.

This is a great way to rejuvenate an old and neglected database that you (or someone else) failed to work or follow up.

Here’s the elevator pitch from Revaluate itself:

They claim to use AI coupled with the “data D”s in public record (divorce, death, diamonds, diplomas, etc).

And according to a report they commissioned and reported on Inman, they are right 1 in 5 times. The average home-dweller stays about ten years, so that kind of prediction rate can theoretically focus your marketing efforts by half.

Local Logic

Local Logic is a real estate website enhancement courtesy of Canada, and also available in the United States.

Local Logic presents location-based insights like walkability score, local restaurant listings, and other data consumers may want to know more about when looking at homes and neighborhoods. You can implement these directly into your website.

They can serve info on the metro area down to an individual listing.

Here is the founder pitching the product at Inman.

They also have location insights for investors and land developers as well.

They even have a free version you can use on your site for up to 1000 visitors a month! There’s no reason not to take it for a test drive.

Jane.ai

Jane.ai is not specifically a real estate tool, but a business tool designed to quickly get data from your entire tech stack.

It’s easy for your software tech stack to grow into layers and layers of products that are a mix of integrations. CRM, TMS, lead routing, website, vendors, back-office, accounting, GSuite, process management, etc. Jane.ai is designed to integrate with all these sources and pull answers for you and your team.

The unique part of Jane.ai is the AI learning. The more you use “her”, the better she understands your company and queries.

It’s a novel and interesting idea for the mid-sized business if your data is becoming opaque to team members.

Echovate

You’re likely familiar with the Myers Briggs and DISC personality profiles. They’re very popular in the real estate world for identifying both personal and personnel strengths and weaknesses.

Personality assessments are routinely employed in hiring assessments.

Echovate takes it to the next level, with a data-fueled focus on salespeople.

Many brokers may be happy hiring on agents if they can fog a window. But if you’re a selective team or brokerage built on a salaried agent model, something like Echovate might be an interesting tool for your hiring process.

Here’s an older podcast with the founder, Matt Gough. Echovate was also profiled in Inman by Craig Rowe.

SquadVoice

SquadVoice is similar in concept to Revaluate and no doubt they consider each other competitors.

SquadVoice grades your CRM contacts and works to revive old leads that you neglected or slipped through the cracks.

Zillow leads you paid for. The eager beaver who suddenly got cold feet and stopped returning calls. Folks who signed into your website IDX but dropped off your radar.

SquadVoice takes it up a notch by having in house and US-based ISAs you can elect to call and nurture your database for you.

The software was featured on Inman in an in-depth review by Craig Rowe.

LiveBy

LiveBy is a similar product to Local Logic in that it provides local market data insights on your website.

It includes a completely done-for-you neighborhood page, including MLS statistics like inventory rates, average sale price, charts mapping trends, average list price for active listings, days on market trends, and more.

It is a great way to scale your hyperlocal content marketing without needing to hire bespoke web developers.

LiveBy previously worked behind the scenes with select brokers and partners but has emerged to provide their service more broadly to the industry as a whole.

Conclusion

These aren’t the kinds of tools a newbie agent generally needs, nor a small and growing team. But if you are an enterprise who is already cracking on lead generation and nurturing and looking for data-driven insights on how to make more from what you have, there are some good options here!

Likewise, if you want your consumer-facing platform to have more data insights that can help your consumers and build trust, there’s software for that!