PropertyGuru launches agent performance feature, taps big data
By Digital News Asia May 14, 2015
- 200mil data points crunched monthly to give agents individual benchmarking
- Provides personalised recommendations on how they can perform better
SINGAPORE-headquartered PropertyGuru Group has announced the launch of its Agent Performance Insights (API) report, which it said uses the company’s proprietary analytics to rank agents’ marketing effectiveness against their peers.
The new feature uses a big data model that provides property agents with specific recommendations on how they can improve their sales performance, the company said in a statement.
PropertyGuru said it analyses clusters of key search terms used by property seekers, and combines it with 200 million data points per month on how agents performed on its platform.
Analysis enables the company to give agents insights on their marketing activity and their relevant performance.
“This comes at a useful time given how the bearish market environment in Singapore has led to tightening marketing budgets,” said Lewis Ng, managing director for Singapore, PropertyGuru.
“Over the last one year, we developed more than eight major innovations to help agents deliver better results, and property-seekers make better property decisions.
“After we fine-tuned our Listing Quality algorithm, we observed that the agents themselves have a big influence over how many customers they can attract. We saw that when an agent completed his listing to over 80% from 60%, he received 26 times more leads.
“We expanded that insight into API, which gives agents the full set of recommendations on how they can boost the performance of their online marketing activities,” he added.
API truly takes PropertyGuru into the territory of Big Data, the company said in its statement.
“There is plenty of data in the market right now with all the surveys, official property statistics, and indices. However, there is still a lack of insights which can guide both agents and property-seekers in a fast-changing bearish market,” said its chief marketing officer Bjorn Sprengers.
“By tapping into big data opportunities … we are learning how to predict demand patterns and even estimate property transactions,” he claimed.
PropertyGuru said that big data has become a key factor in its drive to create new data-driven insights to serve the property market, beginning with a property outlook report launched in January 2015.
Through the collection of real-time data through its integrated digital, mobile and search platforms, the company said it is closing the gap between serving the market’s property needs now and in the future.
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