The data company analyzes buyer data for agents to use in seller lead generation and listing presentations, integrates with CRMs and business platforms and provides graphics such as heat maps.
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Buyside analyzes buyer data for agents to use in seller lead generation and listing presentations.
Platforms: Browser, mobile-optimized
Ideal for: Large brokerages and private real estate offices and teams
Top selling points
- Integrates with existing website
- “White-labeled” backend look and feel
- Wide array of buyer data sources
- Easy output of listing presentations
- Matches listings with in-house buyer leads
Top concerns
This is a system best for independents with significant budgets for technology investment, as it requires larger urban markets to collect enough useful market data.
What you should know
Buyside is a data company focused on analyzing how home shoppers interact with digital real estate information.
When engaged with a client, the service tracks data from an array of online and linked software resources, such as major property portals, native websites, saved search preferences and open house attendance through a connection with Spacio.
It also uses website request forms and integrations with many well-known CRMs and real estate business platforms, including Real Geeks, RealScout, Tribus, Boston Logic and Follow Up Boss.
That compendium of buyer behavior insight is then processed to produce a list of viable candidates for a brokerage’s listing inventory.
This approach isn’t particularly novel, but neither is how Buyside leverages it. Instead of using it to give agents a call list, it’s used to show seller leads who might want their home.
The experience is launched with a common “What is my home worth?” feature on agent or brokerage websites.
Sellers are presented with three disparate values from Zillow, Eppraisal and available public data, a clever engagement tactic to encourage sellers to contact an agent for a “more accurate” AVM.
All within the confines of an agent website, Buyside also shows sellers buyer heat maps and an infographic funnel that shows a progression of buyers, starting with “total online activity” within the entire brokerage to those seeking an option within the seller’s location, price range and number of beds and baths.
Obviously, specific buyer contact information remains anonymous, as it does when provided to listing agents via Buyside’s back-end management dashboard, in which listing agents can see the needs of their buyer-agent colleagues and thus send them a “quiet exclusive” of new listings.
The “Buyer Market Analysis” is a report that Buyside generates for use in listing presentations. It’s essentially a more graphically pleasing hand-out of its market-wide buyer data. It includes the heat map, number of active buyers per price range and who’s searching most often within the past 180 days.
One standout feature of Buyside is that it can help listing agents sell their clients on a price reduction during periods of inactivity. It does this by quickly demonstrating how many more active buyers will see their home when it’s reduced by $25,000, for example.
Overall, the Buyside user experience is clean and simple, with a non-distracting UI and what appears to be a minimally invasive on-boarding process.
Buyside is being used by many of the largest names in independent brokerage, and it has a national agreement with Berkshire Hathaway. It isn’t for the financially faint of heart, but has several case studies at the ready to prove its mettle.
Between its unsuspecting use of buyer data and seamless, on-brand website integration, Buyside is one of the more compelling data-driven business engines this column has come across in 2018. Agents wanting to storm into 2019 should share this column with their brokers.
Have a technology product you would like to discuss? Email Craig Rowe
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