Choose the right technology for your property agent needs, and you can increase capacity, reduce overheads and provide more original, detailed insights for clients.
Here, we’ll introduce you to location intelligence technology and show how you can use it to work smarter, not harder!
Technology for property agents provides better results
These are just some of the key benefits you can enjoy with location intelligence software:
1) Utilising original data
Purchasing pre-existing datasets in bulk is expensive, and it can take time to sift through and compile the most relevant information.
Location intelligence software comes pre-loaded with much of the data you’ll need to provide options for clients. This includes local demographic, transport, footfall, census and retail location data, among other metrics.
You can conveniently combine this data with relevant, localised data from a host of other sources, such as:
- Client store locations
- Competitor store locations
- Client sales records
- Social media sentiment analysis
- Customer loyalty schemes
- Market research
With all this data already at your fingertips, you’ll be able to generate more in-depth, client-specific insights – without the weighty financial and administrative costs.
2) Automating repetitive processes
Many property agent processes lack scalability, meaning the same lengthy research process must be followed for all properties under consideration.
This creates a significant burden, that restricts the quality of results you’re able to achieve and the time it takes to get there.
With location intelligence software, you can automate several repetitive processes. One example of this is ‘Match-It’ – a feature unique to Periscope®.
Start by identifying a shortlist of potential properties, based on notes from the client briefing and the original data outlined above. Or, simply ask your client to choose a branch they’d like to replicate.
Match-It will consider the key criteria that made this location successful. It will then automatically plot all locations with matching credentials on your very own secure, corporate version of Google Maps.
3) Creating data visualisations
Getting clients to select a commercial property – or choose between commercial properties – can often come down to raw data, which they’ll probably find hard to interpret.
This data can be compiled and presented in more intuitive ways, e.g. as a report, graph or map. However, creating data visualisations and annotating diagrams is a time-consuming process that requires extreme patience and accuracy.
Location intelligence software does the hard work for you and presents the information you need in an in an easy-to-read format. With it, you can:
- Select a point on the map and automatically calculate how long it will take customers in the area to travel to this location. Or, identify all potential customers within a specific range (e.g. within 15-minutes’ drive).
- Conveniently plot all store locations, competitor locations, known customer locations and broader local customer demographics on a single map, for ease of interpretation.
- Create and overlay accurate heatmaps depicting anything from local footfall, to proximity to employee addresses.
- Use the ‘Revenue Predictor’ tool to estimate how much revenue commercial properties in new locations will generate, and log these on a map to compare profitability of all locations under consideration.
Technology for property agents has moved on, and location intelligence software could soon become one of the most potent tools in your arsenal.
Discover all the ways Periscope® can support your property agent processes, helping you save time and money while generating more detailed results. Request a 10-minute demo today.