Published August 7, 2018 via RISMedia. By Paige Tepping
Buyside bridges the gap to turn data into leads, listings and profits.
While buyer data is plentiful in this day and age, most brokers agree that it’s often one of their largest untapped assets. So what does it take to bridge the gap? For the folks at The Keyes Company in Miami, Fla. (No. 30 in sales volume in RISMedia’s 2018 Power Broker Report), the answer is Buyside—a data science and marketing solution whose mission is to turn data into leads, listings and profits.
“Brokers across the board have leads coming in from various sources—whether it be a traditional customer referral or an online lead generation platform—and while the data is plentiful, knowing how to use that data and successfully match it up is where the true magic occurs,” says Wendi Iglesias, chief information officer at The Keyes Company.
And that’s just what Buyside does.
“Buyside is able to quickly digest all the data we get from online leads, in addition to the information entered manually by our agents, and tell us which listings match with specific buyers, as well as the number of buyers looking for a specific type of property,” adds Iglesias. This capability has helped The Keyes Company generate over 1,032 seller leads year-to-date from the Buyside platform.
But the benefits don’t end there. In fact, while the firm is experiencing phenomenal results when it comes to generating seller leads, there’s a lot of potential in other areas, as well—all of which translate to being able to service the customer, the ability to come to a quick sale and getting the listing into the hands of buyers in a much faster way.
“The buyer data we have access to through Buyside allows our agents to go into a listing presentation with not only a strong marketing platform, but also the ability to tell the seller exactly how many buyers they currently have that are pre-matched to their property,” says Paula Renaldo, chief marketing officer at The Keyes Company.
The listing presentation tool from Buyside, called the Buyer Market Analysis, has been used over 2,600 times by the firm’s agents so far this year, resulting in over 320 signed listings. “From there, the agent can call the buyer’s agent and let them know they have a listing that matches what they’re looking for—and set up a showing if they’re interested.”
“We’ve realized a huge benefit in capturing listings,” notes Iglesias, who goes on to explain that since they began using Buyside, their agents have been trained to make the Buyer Market Analysis from Buyside part of every listing presentation, which has led to captured listings being the firm’s largest ROI to-date.
Buyside’s data has also been a boon when it comes to helping better focus their agents and determine where to invest their marketing dollars.
“The data we receive from Buyside is pointing us in the right direction when it comes to our marketing budget,” says Renaldo. “But, more importantly, it’s providing me with the intel I need to train our agents in regard to how to use the data within their marketing materials.”
Whether it’s one-on-one meetings, training sessions or webinars, training the firm’s 4,000 agents as to how to use the data in listing presentations, with the buyer and on social media is a key step in taking advantage of everything Buyside has to offer.
And the firm’s agents absolutely love the competitive advantage they’ve been afforded via Buyside. “They’ve taken to it very quickly, as it’s easy to understand,” says Iglesias, who notes that 20 percent of their agents are considered power users.
As more buyer data becomes available—and the team can dig deeper into the details—there’s apt to be a shift in the firm’s digital strategy, as well as how and where marketing dollars are spent. “We’re also going to see a shift in the way in which we speak to sellers, which will ultimately be based on buyer behavior,” says Renaldo.
More than just a product, Buyside is always willing and available to work with Iglesias, Renaldo and the team at The Keyes Company to grow the product in tandem with their needs.
“Working with Buyside has never been about them coming in to pitch a product to our agents,” says Renaldo, “but rather, the partnership centers around how we get our agents to engage, making sure it becomes an asset for them.”
“Buyside is always willing to work with us,” concludes Iglesias. “The team is fantastic; they’re always available, agreeable and full of ideas. It’s been a wonderful relationship from the get-go.”
