Buyside Provides Real Estate Professionals a Distinct Competitive Advantage in Tight Market
For Nadeem Muhammed—VP of Digital Marketing & Technology at Indianapolis, Ind.-based F.C. Tucker Company—attracting new sellers is the name of the game as we continue to deal with tight inventory in markets throughout the country. While it’s certainly easier said than done, thanks to Buyside—a data-driven marketing solution—F.C. Tucker Company’s agents have a distinct competitive advantage.
“On a practical level, we were attracted to Buyside because it gives us a concrete lead capture tool used to attract new sellers,” says Muhammed. “We continue to live in a seller’s market of tight inventory, and we wanted our agents to have one more avenue to uncover those pent-up sellers we believe exist in our market.”
Intrigued by big data and how it can benefit the firm’s agents, and, ultimately, their clients, the decision to partner with Buyside was a no-brainer.
“We’re always working to make sure the search experience we provide is the best in our market,” notes Muhammed, who goes on to explain that arming consumers with more information benefits everyone involved.
“Information is critical, but interpreting that information is key,” adds Muhammed. “This tool puts our agents right in the center of the conversation.”
While F.C. Tucker Company has been collecting useful data through site traffic for years, Buyside has been a boon when it comes to geographically presenting the data in ways that are helpful to the consumer.
“We want to be the local expert for our consumers. Our agents know our market best, and we want our consumers to take advantage of that and come to our site for local information and work with our agents to gain real estate market details,” says Muhammed, who points to Buyside as another tool that places the firm’s agents above the rest.
But the benefits that come with the partnership extend even further.
In fact, according to Muhammed, the ability to shed light on the current buyer demand within the local market has changed the way both the brokerage and its agents connect with homeowners and prospective sellers alike.
“We can now show them what buyers are searching for and how frequently they’re searching. We can also tell them how many buyers are searching for a home that are working with agents inside our network,” says Muhammed
Launching Buyside this past January, the firm is already experiencing results. As of Q1 2019, F.C. Tucker Company has received nearly 1,700 home valuation inquiries, captured over 200 seller leads and signed 109 listings (worth $36 million in volume).
Better yet, the response among agents has been tremendous.
“The training classes we offered were full in no time, and the agents were genuinely curious about the product,” says Muhammed.
While the team at F.C. Tucker Company is working hard to improve their adoption rate (which currently stands at 50 percent) through in-house training classes and additional marketing materials, from a company level, the true focus is on leveraging the data to improve the firm’s market position.
“The beauty of this product is that it’s a tech tool for which your agents need no training,” concludes Muhammed.
For more information, please visit www.getbuyside.com.
Paige Tepping is RISMedia’s managing editor. Email her your real estate news ideas at email@example.com.