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In a time where agents’ businesses are stagnating under an interest-rate happy Fed and threatened by federal court cases that could alter industry-wise compensation models, proptech stalwart RealScout is launching what it called in an Oct. 24 press release, “its most significant update” since launching in 2012.
The platform update is called RealScout Pro+, and it’s highlighted by Auto Nurture, a functionality that will automate outreach efforts to new and previous CRM entries. The intent is to stimulate scaling for teams and agents as the industry trudges through a multi-faceted slow-down.
Users can select and categorize contacts from their CRM of choice for the new system to nurture. RealScout has two-way integrations with a number of proven customer relationship management solutions, as well as front-end widgets to bolster lead capture from websites.
“We’re incredibly excited to unveil Auto Nurture as part of the RealScout Pro+ release,” said Andrew Flachner, president and co-founder of RealScout, in a statement. “The impact of this feature has proven to be immediate, meaningful and quantifiable for many of our customers.”
Flachner describes Auto Nurture as “set it and forget it” technology, a way to create smarter listing notifications supported by an all-new Home Value Alert tool and real-time market activity alerts. The software uses natural language calls-to-action and timely data to send appeals to any status of contact, ranging from 10-year homeowners to newly qualified buyers. The content can adjust as needed and agents can granularly track how information is being absorbed by recipients.
Buyers are also able to access an agent’s “private” home search portal offered by RealScout, an experience devoid of off-brand pitches or data capture tactics that send consumer information to other agents. That search also uses computer vision AI, image metadata that enables people to search for and compare specific features in a home or by individual room, similar to what Mosaik offers in both its stand-alone search and larger enterprise solution. The technology, a subset of AI that Restb.ai has been rolling out to MLSs and listing data companies recently, and is additionally impressive when juxtaposed with RealScout’s private search experience.
Inboxes of aspiring sellers can be sent a range of home value pitches that leverage the wide array of digital AVMs the market offers, prompting recipients to contact the sending agent for a more personal assessment of their home’s value.
RealScout Pro+ enhances how its tools align with users’ wide array of CRMs, which includes popular options like Follow Up Boss, MoxiWorks and Cloze, as well as improves on team solutions with more tailored offerings.
“RealScout’s new Team account type enables teams to pool their databases, share contacts seamlessly and administer their organization more effectively,” the release stated.
Leads for new business remain scarce as buyers cower behind creeping interest rates and a dearth of inventory, thanks in part to sellers’ collective unwillingness to part with mortgages below 4 percent. Thus, savvy agents are turning inward to discover new business from old contacts, recognizing the need to prepare for more favorable markets in the future. Existing databases are typically valuable sources of revenue but are often neglected by the transaction-minded agent focused only on the theoretical “next deal.” Pipelines are built over time, a concept RealScout Pro+ is hoping its features can deliver.
The technology company is also known for its Buyer Graph, a dynamic market analysis tool deployed in more than 20 markets that offers real-time activity insights as well as heat maps that present past and current buyer patterns, such as the most popular neighborhoods and property types. Agents and brokers can also view data-driven listing price suggestions and see how price adjustments could impact buyer demand.
RealScout celebrated its tenth year in the industry in Summer 2022. Flachner wrote a “love letter” to his industry, in which he championed the work of agents.
“Today, the technology-empowered real estate agent — which was always a key element of the RealScout vision — has become the accepted strategy of the industry,” he said in June 2022. “We think agents are a critical piece of the puzzle that previous ‘disruptive’ tech plays dismissed – but a stakeholder we’re laser-focused on.”
Teams industry-wide are eligible now to upgrade to or sign up for Auto Nurture and RealScout Pro+’s other benefits, while individual agents can do so in 2024, according to the company.
