When it comes time to update apps on your smartphone, you probably don’t think twice about it. Most updates aren’t flashy — they tend to be for minor, unnoticeable enhancements.
The all-new Homesnap Pro, however, isn’t your average app update, and you’re going to notice the difference. Across desktop, iOS, and Android, it’s the biggest set of product enhancements that Homesnap has ever made to its already top-rated technology.
It’s also a game-changing release that pushes Homesnap Pro far beyond its competitors
While some real estate companies use technology to push agents out of the equation, Homesnap is building more advanced tech that works with agents, not against them. There are several new tools that agents and brokers can access completely for free because Homesnap Pro is included as part of their MLS subscription, putting integral business-building solutions in one place for agents.
Here, we’ll focus on the updates that help agents find potential seller leads.
Likelihood to List
Research shows that the vast majority of sellers list their home with the first agent they talk to, so agents who start the conversation will gain a competitive advantage. To that end, Homesnap has developed predictive technology so every unlisted property now includes a Likelihood to List meter that indicates whether that particular property is most likely, likely, or least likely to go on the market within the next 12 months.
You’re probably wondering what kind of crystal ball is behind the meter. The short version is that Homesnap’s team of data scientists took huge data sets (think: mortgage details, demographics, property history for every home in MLSs across the country) and spent months analyzing which factors cause homeowners to list their property.
A driving factor might be high net equity, indicating the homeowner has enough equity to cover a new down payment, closing costs, and associated fees. However, the complex algorithm behind the Likelihood to List meter takes that key factor into account with numerous others because we all know that net equity details alone aren’t enough to confidently predict whether a homeowner is ready to sell.
This feature is a no-brainer, go-to tool for agents who prospect for seller leads. Why would you cold-call, knock on random doors, and cast a wide net that inevitably wastes your time? Instead, narrow your efforts with data-driven prospecting so you’re having conversations with the homeowners who are most likely to say “yes” to a meeting. When you’re ready for more leads, you can just activate the Likelihood to List map layer and see all the properties in your farm that you should be calling on.
The Likelihood to List tool is part of Homesnap Pro’s new powerful Property Heatmaps feature. There are 11 highly developed heatmap options that reveal more property and homeowner information than you’d ever be able to find in your MLS alone. Flip on a heatmap to see properties color-coded based on:
- Mortgage Rate (free)
- Mortgage Age (free)
- Cash Buyers (free)
- Ownership Time (free)
- Last List Date (free)
- MLS Status (free)
- Likelihood to List (free)
- Loan Balance
- Home Equity
- Ownership Type
These allow you to visualize key indicators of selling potential and get a better bird’s-eye view of your target ZIPs. Then, you can narrow your heatmaps further to see, say, which homes have a mortgage age of 15-20 years.
When you do find those Most Likely to List properties, or use Heatmaps to visualize homes by some other criteria, you won’t have to dig far to figure out who the seller lead actually is. Homesnap Pro includes robust homeowner profiles on every property page for free as part of this huge platform update. You can easily call, text, or email the homeowner from Homesnap Pro in just one tap. Do Not Call List information is included as well.
Homesnap made these updates with real estate agents in mind, and also with their actual input. After months of interviews and research into which new features would have the most significant impact on agents’ business, Homesnap’s team of more than 125 employees went to work building what they call “the best combination of MLS integration, client collaboration, and seller prospecting tools to ever hit real estate.”
If you haven’t updated the app on your smartphone lately, now is the time. This historic update will transform the way agents do business.