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New service predicts when consumers will sell

Stacey Moseley 2 minute read

Brokers may soon have access to market intelligence that can predict when a vendor is looking to sell or buy property.

CoreLogic, parent company of RP Data, said the service would use consumers’ social media pages to anticipate when they are about to list their property.

“We find that people signal what they're about to do, what their interests are and their personal information across social media. So we're finding ways to connect those insights to other things that we're doing offline.” said Olumide Soroye, the managing director of CoreLogic Information Solutions Research.

“Expansion for us over the next few years in the real estate market is going to be all about coming up with new tools that will empower professionals for success in the marketplace.”

Mr Soroye said US-based CoreLogic would be able to build a profile for a prospective client before approaching local agents.

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“We can tell [agents], ‘Hey, this person has a home they've not sold [for] 40 years and something has changed in their life that suggests they might want to move to a bigger home, and from what they're doing online they're asking for recommendations for agents’. We can pull all that together into something that will tell the agent in the local community, ‘This consumer might be someone you should be reaching out to’,” he said.

Mr Soroye claimed CoreLogic was in the advanced stage of bringing the service to market in the US, but could not give a firm release date.

“We're finding new ways to predict when they will list, and that will be quite powerful for our broker agent clients,” he said.

New service predicts when consumers will sell
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