HOUSINGNEWSREPORT
“We learn with every client. We have close relationships with all of them. We are constantly getting feedback from them and building it into our processes and into our research,” he said. “We are building models off many regions. So instead building just one model off one town … We are using data from all different markets, so the power of the predictions is so much stronger.”
Adapting for Feast and Famine
Audantic’s likely seller lists are a hot item in a housing market with a paucity of properties for sale and a shrinking pool of foreclosures — which during the housing downturn provided real estate investors with a full pipeline of potential deals.
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Real estate is cyclical so sometimes it’s easy to do deals and sometimes it’s hard to do deals, and what we try to offer our clients is to have consistent business in the easy times and the hard times, the feast and the famine.”
But Audantic is also prepared to adjust its models to fit a market where the deals are more plentiful, according to Sarkett.
Franklin Sarkett Cheif Technology Officer at Audantic Bothell, Washington
“The way that we build our models, we’re constantly updating them with the latest real estate data. So as the markets are shifting and the behavior is changing … our models are constantly being updated to reflect those changes in real time,” he said. “Real estate is cyclical so sometimes it’s easy to do deals and sometimes it’s hard to do deals, and what we try to offer our clients is to have consistent business in the easy times and the hard times, the feast and the famine.”
mouth, according to Sarkett. The company began as a startup with two clients in 2014 and now provides its prized marketing lists to clients in more than 200 U.S. counties. Innovation Beats Intuition Audantic’s growth has come thanks to a proven product that breeds customer loyalty and expansion. The company boasts a 95 percent customer retention rate, and 65 percent of current customers have expanded their business with the company as they see results roll in that are exponentially better than their current marketing methods, according to Sarkett.
“A lot of investors have used intuition to determine how to do their marketing, and we’re able to apply predictive analytics to the data and get much higher results,” said Sarkett, who worked as a data scientist at Facebook before joining Audantic. “We can eliminate 80 percent of the population and we can double or triple their results. … “We have one client, and he got six deals under contract within a week of signing up with us.” While the proven success of Audantic’s predictive modeling is helping the company grow by leaps and bounds, Sarkett and his team continue to refine their models based on real-life feedback from clients.
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