offrs.com Releases Results of Algorithm that Predicts Future Listings of Residential Real Estate
SARASOTA, Fla. (PRWEB) May 10, 2018 -- Real estate data and lead generation solutions provider, offrs.com today released the results of their 2017 post-market evaluation, concluding with a 73% accuracy on residential homes projected to list up to 12 months in advance of listings. The offrs.com data team performed its annual market evaluation which involved additional external research partners as well as a direct data licensing agreement with MLS, recently secured as a strategic partner in the offrs.com network.
"For the tests, we combined custom data analysis applications with some good, old-fashioned manual research to evaluate the current operating efficiency of our predictive scoring algorithm. Even though there are natural shifts and pulls in the consumer market which throw off the calculations each year, we’ve adjusted to match. Our algorithm has remained consistent and is still unparalleled in the industry," says Jeff Shapiro, a Statistical Analyst on the data team at offrs.com. “It’s pretty cool stuff.”
The algorithm, initially developed in 2013 by a team of PhD statistical theorists and led by mathematician and offrs.com co-founder Rich Swier, utilizes over 200 consumer/market data points to formulate a proprietary predictive score then used by agents in prospecting exclusive residential territories across the nation. This score highlights which properties are most likely to enter the housing market, far ahead, often 12 months out from the listing itself.
"The annual market evaluation process to hone the efficiency of the offrs algorithm continues to demonstrate the value of such technologies in real estate, with offrs celebrating its 5th consecutive year of 70%+ accuracy for market forecasts. In short,” says Mr. Shapiro “we can tell you which homes are looking to sell. And each year, with these post market evaluations, we make sure we’re able to do so with at least a seven-out-of-ten accuracy.”
Additional data points are being added and, of all real estate technologies, accuracy in predictive scoring is where the race to deliver value is expected to take place. At least according to Mark Dickson, founder of offrs.com, who anticipates continued growth in the predictive analytics marketspace, particularly within real estate, where “Agents, brokers and industry heads remain active beneficiaries of the data provided by the offrs solution.”
About offrs.com
offrs.com is the nation’s most expansive provider of real estate lead generation and lead nurturing solutions. Headquartered in Sarasota, FL and with regional offices and representatives nationwide, offrs.com empowers over 5,000 agents from national and independent brokerages across the nation. For more information, visit http://www.offrs.com.
Editorial Staff, offrs, http://www.offrs.com, +1 844.876.3377 Ext: 720, [email protected]
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