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Case study - Real estate

Case study
Industry: Real Estate

Real estate agents no longer on a wild goose chase for home buyers
Background
Australia’s best-known real estate group is committed to helping people achieve their real estate dreams. A large part of what they do is broker the sale and purchase of private properties. Whilst they receive a few online enquiries from people looking to sell their property or purchase a new one, the majority of people they meet are through open house inspections. 

A property can bring in between 10 to 100 enquiries, but only one buyer can be successful. Those who are unsuccessful usually continue their search, often in the same suburb or surrounding areas. The real estate group relies on the details collected during their open house inspections to stay in touch with these people.
 
Problem 
Collecting the details of so many potential buyers and sellers at open house inspections creates a problem for the group. As their database continues to grow, contact details quickly become dormant and difficult to manage. It is equally as difficult to determine whether these people are still at the same address or are still looking to buy and/or sell.

The group’s real estate agents had the tedious and time-consuming task of working manually through the contact details of these property owners. They had to either call or email them to determine if they were still searching for a new home and/or looking to sell their current home. Agents often had trouble getting in touch with these potential buyers because their contact information was outdated, or they had already successfully found a new property and sold their old home. This made prospecting for potential buyers and sellers difficult, as the contact information in the group’s database had remained dormant for so long. 
Solution
The real estate group needed to know whether the people in their database were the current homeowners at the addresses they had listed as their place of residence. To get in touch with these people, the real estate agents also needed their current phone numbers and emails. 

As the Administration Manager of the real estate group had previously worked with an Account Manager at Thryv Data (and had achieved great results with a data cleaning project), he engaged the same Account Manager to help with this database. 

Working closely with the real estate group, Thryv Data came up with a tailored solution that led to the group purchasing a data list of homeowners in the areas they serviced. The data we provided was used to clean up their database by running it against all the records they had. When the details in our list matched the name and profile of someone in their database, the valid and updated contact information from our list was consolidated with the existing record in the database. 
Results
As a result of the data matching project within the real estate group’s database of 100,000 contacts, we were able to remove homeowners who had already purchased and moved. We also helped to identify 14,000 people in the database who owned a property in the areas serviced by the group. They had previously been unaware of these people as a result of incomplete records and missing address data. 

As a result, this real estate group has been able to foster warm relationships with these people; ensuring they are the real estate agent of choice when the homeowners are prepared to sell. This has also enabled them to adapt their communications accordingly, providing potential sellers with valuable tips and property market insights. 

The real estate agents are now able to successfully reconnect with the people in their database. Their conversations are more confident and productive, as they know that the person they’re speaking to is the owner of the property listed in the database. This has allowed them to prioritise who to call – those in their database who did not match our data list were not actively contacted. Our data was also imported into their CRM system, with agents now having valid and up-to-date contact information of property owners at their fingertips. This has saved them time as they’re no longer making phone calls that are unanswered or sending emails to invalid addresses. 
 
“The contact information our real estate agents need is easily accessible in our CRM platform. They are not left wondering whether the person they’re ringing is actually the property owner of the address we have listed in our database. The data from Thryv Data has helped us get in touch with the people most likely to sell their home and purchase another property.”

Anonymous
Administration Manager from the real estate group
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