Proptech firm Acaboom has launched “Behaviour Intelligence”, an AI-powered system that analyses interaction patterns of property owners after a property valuation. This technology draws on datasets from millions of owner interactions collected over a period of more than a decade. The aim is to predict the likelihood of an owner giving a sales instruction.
The system provides insights into the sales probability of a property and the type of activities most likely to lead to an instruction. For instance, it can predict whether an owner belongs to the top 20% of instructors and which actions on the agent's part would be most effective in accelerating the process. This includes recommendations for communication or further steps.
Data-driven Decision Support
The development of “Behaviour Intelligence” was carried out in collaboration with leading providers in the United Kingdom. The tool is designed to create transparency by showing whether an owner is proactively considering the next steps or whether they are taking a more observational role. By providing this information, estate agents can adapt their strategies more precisely and deploy their resources more efficiently.
Acaboom has tested its technology with various estate agencies in recent months and has received positive feedback. Agents should have the opportunity to improve their success rates in converting valuations into actual sales instructions. The system aggregates and analyses data points to make informed predictions and generate individual action recommendations for agents.
Strategic Advantages through AI
The introduction of such AI systems marks a step forward in the property industry, as it allows agents to move beyond mere guesswork. Instead, they can base their decisions on extensive historical data and machine learning. This potentially leads to an optimisation of acquisition strategies and an increase in the overall productivity of estate agencies. In the long term, this could improve the efficiency of the entire property brokerage market.
- —Prediction of property sales probability
- —Recommendations for communication with owners
- —More efficient resource utilisation for estate agents
- —Improvement of success rates in acquiring sales instructions
