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ATLANTA, July 18, 2019 /PRNewswire/ -- According to the National Association of Realtors, seven in ten home buyers select the first real estate agent that connects with them. To help real estate agents quickly and intelligently connect with potential buyers, Equifax, a global data, analytics and technology company, today introduces Lead Accelerator™, a new solution designed specifically to help agents become the first contact for prospective home buyers.
"If 79 percent of Millennials use their phones at least three hours a day*, you can guarantee they will expect a technology-driven home buying experience that is fast and intuitive. In order to meet this demand, real estate agents need sophisticated data and analytic tools at their disposal to move at lightning speed," said Tyler Sawyer, vice president of rental and real estate, Equifax.
Lead Accelerator leverages proprietary data and analytics to provide lead-specific insights via three unique modules:
- The Personal Wealth module provides real estate agents with anonymized insights of a lead they have not previously met in addition to an overview of the lead's likely financial capacity and estimated household income. Also, the Personal Wealth module includes visibility into the household economics, further helping real estate agents differentiate leads, match offers and deliver relevant marketing messages.
- The Property Value module uncovers property data to determine whether a lead is likely an existing property owner or a prospective first-time home buyer. For existing property owners, additional data is provided relative to property value, time-in-home, home equity and other property attributes indicating a buyer's estimated financial health.
- The Propensity Score module identifies the likelihood that a lead will purchase a home within the next six months. Likewise, real estate agents can prioritize similar looking leads based on those most likely to convert and determine a preferred approach to contact.
For more information on Lead Accelerator, please visit: https://www.equifax.com/business/lead-accelerator/
"Lead Accelerator enables real estate agents to qualify leads faster using data to make prioritization decisions; utilize the propensity score to help understand a lead's transaction likelihood; and convert more leads to closed deals by identifying and prioritizing top lead clusters, connecting the right buyer to the right home," added Sawyer.
In an internal analysis of the solution, Equifax found that the top 10 percent of the propensity scores captured between 2.4 to 4 times more mortgage applicants than a randomly selected sample of equal size. As a result, real estate agents can expect improved productivity and a reduction in time spent with leads by as much as 75 percent.
Equifax is a global data, analytics, and technology company and believes knowledge drives progress. The Company blends unique data, analytics, and technology with a passion for serving customers globally, to create insights that power decisions to move people forward. Headquartered in Atlanta, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor's (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 11,000 employees worldwide. For more information, visit Equifax.com and follow the company's news on Twitter and LinkedIn.
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SOURCE Equifax Inc.