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Real Estate Technology: Throw Away That Wide Net

July 18 2012

3974 iStock 000013188123XSmallSeparating winners from losers is often an exercise in smart targeting. Our instinct is to cast the wide net and see which fish we drag in the boat. But wide nets are expensive to throw and bring back all sorts of inedible items into the canoe. It's frustrating and defeating.

Winners segment. Winners know which fish lunge at what type of bait, what time of day and what time of year they feed, and what side of the lake they live on. A good parody to share is a recent report from the Federal Reserve shows that the dividing line between confident and non-confident is 58 years old. Individuals over 58 show a traditional fealty to price drops. Their experience, over many decades, leads them to believe real estate is sound and enduring. Those non-boomers, under 58? Not so much. They still fear the volatility of politics, interest rates, European contagions, and so forth.

The good news is that data like that is easily attained and applicable everywhere. It's not a geo-target or something out of your control. There are above and below 58 years olds in every town and city in the U.S!

Today, check out ListSourceListSource. Run a list of those born before 1955. See what they own, how many people are in their household, and the equity they have in their home. Load a subset into your real estate CRM and think long and hard about how to craft your approach to capitalize on this nugget of insight. Play on this segment's willingness to plunge into low price opportunities. These are the sorts of segmentations you can easily do to separate yourself from those casting wide nets!

To view the original article, visit the CoreLogic Broker Buzz blogCoreLogic Broker Buzz blog.

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