Asia’s leading online property group, PropertyGuru Group on Wednesday launched its “Agent Performance Insights” (API) report, directly addressing a market gap for a “Big Data model” which provides property agents specific recommendations on how to improve sales performance.
“This comes at a useful time given how the bearish market environment in Singapore has led to tightening marketing budgets,” said Mr Lewis Ng, Managing Director for Singapore, PropertyGuru.
The monthly report provides agents with an overview on how their listings performed based on the number of leads generated. It also analyses the contribution of the agents’ key marketing initiatives like listing quality, location and pricing.
“We saw that when an agent completed his listing to over 80 percent from 60 percent, he/she received 26 times more leads. We expanded that insight into API, which gives Agents the full set of recommendations on how they can boost the performance of their online marketing activities,” Ng added.
The group believes API enables them to enter into the Big Data territory.
“There is plenty of data in the market right now with all the surveys, official property statistics, and indexes. However, there is still a lack of insights, which can guide both agents and property seekers in a fast-changing bearish market,” said PropertyGuru Group Chief Marketing Officer Bjorn Sprengers.
“By tapping into “Big Data” opportunities, combining our proprietary search data with [for instance] URA data, we are learning how to predict demand patterns and even estimate property transactions,” he added.