HOUSINGNEWSREPORT
“
Our belief fundamentally is
the more useful data we can provide our buyers and sellers, the more useful we will be and the more informed they will be.”
Rick Sharga Cheif Marketing Officer at Ten-X | Irvine, California
to providing real estate transparency. “The companies that are able to best leverage data for buyers and sellers and real estate professionals are ultimately the ones that are going to be most successful.” Data as a Competitive Advantage But Ten-X doesn’t just display the public record data for users; it adds value by combining the public record data with real- time user data — a true big data initiative likely helped by a $50 million investment from Google Capital in 2014. That mash- up of data gives both the company and its customers a competitive advantage in the marketplace, according to Sharga.
and Google search trends and showing relationships between that and public record data, we’re pretty well able to predict what is going to happen in those markets … weeks before the numbers come out,” he said. “We think we only have scratched the surface in terms of using data for customers.” Matching Properties to Buyers One example of how Ten-X is innovating with real estate data can be found in its email marketing, which uses predictive modeling to match new available properties coming in from suppliers with buyers who are likely to be interested in those properties and then connecting the buyer to the property “in almost real-time,” according to Sharga.
“Our click-through rates on those targeted emails are about 45 percent which is just off the charts,” he said, adding that he wouldn’t be surprised to see this type of predictive modeling of real estate data evolve into a “match.com” model where a buyer profile can be matched against available property profiles to proactively provide that buyer with purchae opportunities. “Imagine a world where the properties go searching for a buyer,” Sharga said. “If you are looking for a property to buy, and a seller can get that to you quickly, you don’t have to have a lot of properties to choose from, you just need to have the right property.”
Property Data Improves Dating
“Because we’re working with our online data
Leveraging property data to identify winning
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