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The days of mailing postcards to neighbors announcing the sale of a local home may be coming to an end. Bad news for those postcard makers; but, good news for Realtors and lenders. Is it good news for homeowners?
Using ‘Big Data’ and proprietary marketing systems, Realtors may be able to identify those homeowners within a specified area that are most likely to sell their homes and buy a new one. (Big Data) For lenders, such homeowners will be in need of their financing for the new home. It’s a great way and opportunity to pick up new business.
Sounds pretty cool, eh? Realtors and lenders using a system to identify those most likely to sell and buy so they can get ahead of the competition.
Realtors can market directly to the homeowners most likely to sell with information on listing their current home, how much it’s worth, marketing times and perspective buyers, while lenders can prequalify them for the financing of their new home.
This is all done before the consumer is even aware they are considering the move. Wow!
Where does all this information come from? How do they determine which homeowner is going to sell?
It’s all done using information gathered on consumers, based on what is readily available out there in cyberspace. Nothing is private anymore.
Every transaction we make is digitally recorded somewhere and captured for use for a myriad of reasons. Some uses are as simple as marketing a pair of shoes, a vacation destination, a retirement plan, on up to burial plots. It just depends on your stage of life, credit patterns and buying habits, among a host of other personal attributes. All gathered under the umbrella of ‘Big Data’.
To me, Big Data is just another way of saying Big Brother. Don’t kid yourself. Everything we do is now recorded. Some of the reasons and results are good but others…maybe not so good.
We’re told this is the future. Get on board. I guess I’m not quite sold. Don’t get me wrong, I’m all for progress and in the right hands for the right purpose this could be very good. BUT…
You get the picture. So, when you get a notice from your local Realtor on how much your house is worth telling you now is a great time to sell, it’s because whether you knew it or not you are getting ready to make a move.
Hey, maybe it’s all just the power of suggestion. What’s next? A Crystal Ball?
