Coldwell Banker Real Estate Brings Big Data to the Kitchen Table with CBx Application
New Home Listing Experience Uses Big Data to Identify Who and Where Potential Buyers of a Specific Home Are, Helping Sellers More Accurately Market Their Properties
February 26, 2015 // Franchising.com // Madison, N.J. - Coldwell Banker Real Estate LLC, the original San Francisco Bay area real estate start-up founded in 1906, continues its push to create exceptional experiences for home sellers. On the heels of its new digital platform allowing sellers to actively participate in the marketing of their home, the real estate brand is now launching an exclusive iPad application for its sales associates visualizing who a home’s potential buyers are, from where they are moving and other market dynamics based on data from multiple public and private sources.
Highlights of the listing application include:
- Big data from ESRI, Experian, OnBoard Informatics, Realtors Property Resources (RPR) and the U.S. Census Bureau that provides insight into home buyer profiles and trend analysis
- Heat maps illustrating the top cities from which current home buyers in a market are moving and the percentage of home buyers in these neighborhoods who match a specific home’s buyer profile
- Tools that build a story for sellers about what is happening in their neighborhood and how that may affect their home and sale
- A behind-the-scenes tool for how and why a listing should be priced that allows for customization based on neighborhood details and amenities
"For the first time ever, the Coldwell Banker brand is using big data to give sellers true insight into not just the potential pricing of their home, but likely to whom they will be selling it," said Sean Blankenship, chief marketing officer of Coldwell Banker Real Estate LLC. "Using big data in a very visual way, the application takes what Coldwell Banker affiliated sales associates are doing every day and adds insights and innovation that allow them to engage the seller in a confident discussion about the price of their home and how to sell it."
"CBx gives my company and sales associates one more thing that nobody else can provide," said Terri King, president and chief executive officer of Coldwell Banker King in North Carolina and a participant in the app’s beta test. "The home buyer profiles and market data take our listing presentations to the next level by showing sellers something they haven’t seen from other sales associates."
Home Buyer Profiles and Trends
Big data allows CBx to present a demographic makeup of potential home buyers by attributes such as age, education, family size and average household income, as well as from where these potential home buyers are moving.
Insight into Market Data
Data from Coldwell Banker Intelligence provides localized information on housing trends including average home value, total housing units, percentage of households changing owners and more.
Visual Overview and Mapping
Google maps visually summarize the top regions from which current home buyers in a market are moving and the percentage of home buyers in these regions that match a specific home’s buyer profile.
In partnership with Realtors Property Resource (RPR), a wholly owned subsidiary corporation of The National Association of Realtors, CBx is the first application to pull data directly from the RPR Broker AVM to provide an estimated value for any given home. The app also allows sales associates to make price adjustments based on their knowledge of the market and the home’s amenities, such as increasing a home’s price because of a spectacular view.
Coldwell Banker agency partners TKI Interactive and Convidence designed and developed the CBx application.
About Coldwell Banker Real Estate LLC
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of more than 87,000 affiliated agents working in approximately 3,000 offices in 49 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand with an iPad app, the first to augment its website www.coldwellbanker.com for smart phones, the first to create a iPhone application with international listings and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker System is a leader in niche markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program.
SOURCE Coldwell Banker Real Estate LLC
Coldwell Banker Real Estate LLC
CooperKatz for Coldwell Banker Real Estate LLC