Predictive software could deliver SMEs more business

A new technology targeting real estate and property management agencies claims to make their job easier by predicting what database contacts are about to do – and the technology will soon be made available to other business sectors.

A new technology targeting real estate and property management agencies claims to make their job easier by predicting what database contacts are about to do – and the technology will soon be made available to other business sectors.

ActivePipe uses predictive algorithms to anticipate whether a contact is ready to lease, buy or sell a property. Tailored marketing is then automatically sent on the property manager or agent’s behalf.

The company’s chief executive, Ashley Farrugia, said the predictive data technology was developed after several property managers failed to return his calls while he was in the market for an investment property.

“CRM systems are brilliant and essential tools for managing large numbers of contacts, but they are effectively data museums – they reflect what has happened; not what will happen,” he said.

“We deliver data discovery and predictive intelligence to the agent’s data.”

According to Mr Farrugia, the software is about making the real estate industry aware of a problem it didn’t know it had, by using data discovery to create greater efficiencies and opportunities.

“The system firstly communicates and helps to maintain a relationship with the customer, but also it means an agent doesn’t need to make 100 calls a day to find one person that may be looking into the market,” he said.

“Our product maintains a connect between the seller and the buyer over longer periods of time whilst also providing relevant and valued information along with cross-channel marketing/promotional opportunities.”

The Australian-developed start-up launched last year, and Mr Farrugia said more than 50 real estate networks across Australia have already adopted the ActivePipe technology, with agents reporting significant increases in sales and listings as a direct result.

ActivePipe has even more aggressive growth ambitions in 2016, with plans to expand into the US and UK residential property markets, as well as adapt the technology for use by other business sectors.

“We are already cross-channel marketing for mortgages, and are on track to deliver in excess of 1,000 mortgage leads per month with our largest Australia/NZ client,” Mr Farrugia told My Business.

“We currently provide a solution to finance brokers and are currently in the throes of enhancing this product and pursuing growth in this vertical more aggressively. We see similar opportunity for the financial advice vertical.”

Mr Farrugia said another possible opportunity for expansion includes motor vehicle distributors, although given the focus on growing the core products globally, such expansion is likely one to two years away.

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