As real estate professionals, we are frequently bombarded by people selling us new technologies to enhance our business. The other day, I listened to a pitch from a founder who was trying to sell me on his public relations matchmaking service.

When I asked how it all worked, he referenced machine learning, a concept I vaguely understood but perceived to be highly sophisticated and cutting edge. After the call, I was sold on the product. It was going to make me better at my job — and yet, I had no idea how it operated.

Machine learning, big data, proprietary algorithms — these are phrases often peddled casually in the marketing language of startups. As a society, we place a high value on data and statistical likelihood, so much so that we forget the importance of human analysis.

There is no question that evidence-based decision-making is the way of the future. But perhaps we are prioritizing data and algorithms too highly above our experience, knowledge and opinions. Data is a profound instrument that can help us understand trends and make better decisions. But it’s not a solution on its own.

After my company had moved to Santa Monica, I looked up the area’s crime statistics online. I was shocked by what I found. From the blanket of red covering our neighborhood map, it appeared as though we’d moved to the middle of a war zone.

The data, however, hasn’t aligned with our experience in the neighborhood so far. If we had avoided Santa Monica based on a crime overlay, we would have missed out on a fantastic opportunity. We realize that crime in the area is too complex to be represented by a single number or color scheme. There’s no nuance in a blanket of red.

Flashy technology can cloud our focus on the needs of today’s consumers. Though consumers have a wealth of data at their fingertips, they are keenly aware of the shortcomings of data. Not only is data flat, but it’s often just plain wrong. These facts, in part, have fueled the rise of crowdsourced information-sharing sites over the past decade.

These sites are like virtual water coolers. Consumers crave data, but they also want insight and opinions from peers and experts. They are much more careful in their decision-making. They have a wealth of data and peer feedback to sift through, and they use a combination of these inputs to inform their decisions.

According to realtor.com’s 2014 Profile of Home Buyers and Sellers, though consumers can get plenty of data online, 91 percent of homebuyers and sellers are still turning to professionals for help in their transaction process.

Sharing insight unlocked from data — in other words, telling a narrative that gives context to the numbers available online — is the new role of the real estate professional. It is the key in connecting with new clients online.

Data is only as valuable as the story derived from it. Machine learning, big data and proprietary algorithms are all exciting and valuable starting blocks to more informed decisions. But in the face of a dizzying array of complex technology, we can’t lose sight of our most valuable asset to consumers: the unique perspective that we bring based on our analysis and personal experience.

Elena Legeros is the senior manager of digital marketing at WikiRealty. You can follow her on Twitter or LinkedIn

Email Elena Legeros.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×