Offrs is a predictive analytics platform that seeks to improve your real estate lead generation performance by directing you to the properties and homeowners most likely to sell in the coming year. In this Offrs review, we’ll explore its potential for helping you grow your real estate business.
Offrs leverages the power of big data, analyzes hundreds of data points per property, and runs them through a proprietary algorithm to give you a list of potential home sellers in your chosen market.
But Offrs is more than just a list of names and addresses that show up in your inbox. Offrs provides property data, consumer data, and demographic data, all delivered in a powerful dashboard to prioritize these leads and track your progress with them.
You’ll get a wide variety of specialized leads, including expired listings, FSBOs, and even a segment that focuses on potential buyers near you. Offrs also provides specialized marketing options to reach each of these lead segments through their proprietary tools called Smart Apps.
In this article, we’ll further break down what Offrs does, how they do it, how much they cost, and ultimately, we’ll help you decide whether Offrs is right for you and your business.
What Are Predictive Analytics & Why Should You Care?
“Predictive analytics” is the study of big data for the purpose of understanding what’s going to happen next. This field of study is exploding across the consumer landscape, and arguably, there’s no more lucrative opportunity for its application than in real estate.
The goal of predictive analytics is to figure out which behaviors might indicate someone’s intent to buy or sell a home, so that real estate agents like you can start marketing to those buyers and sellers first. Predictive analytics can give you a competitive advantage over the other real estate pros in your market.
Sounds like a good idea, right? The folks at Offrs thought so, too.
How Much Does Offrs Cost?
The cost of Offrs depends on market-driven factors—primarily, the typical home price and the number of homes in the territory. It’s similar to the way that Zillow Premier Agent prices their territories. According to the Offrs website, the typical starting price for Smart Data, which is the base Offrs product, is $200 to $500 per territory, per month.
There can be additional monthly costs if you also choose to subscribe to one or more of the Offrs premium Smart Apps. As I mentioned, these help you to leverage the Offrs automated marketing and follow-up tools to best connect with the leads generated by their Smart Data. After all, leads are only useful if you pursue them consistently and with impact.
What Services Does Offrs Provide?
In short, Offrs provides two categories of services: the results of their proprietary algorithm (Smart Data) and vehicles for marketing to the leads that have been identified (Smart Apps).
Let’s take a closer look at each of these categories.
Smart Data: A Closer Look
All Offrs products build upon their base product, Smart Data. When you become an Offrs customer, you sign up for Smart Data in a particular territory. These are usually delineated by a ZIP code or part of a ZIP code, depending on the number of homes in the area. You can sign up for multiple territories, as well; a single user can sign up for as many as 10.
Here’s the cool part. Offrs is an exclusive leads platform, so Offrs provides data to only one agent per territory. Once you’re the official Offrs agent for your territory, you get exclusive access to the results of the proprietary Offrs algorithm.
For example, there are homes that Offrs predicts are likely candidates for sale, updated daily. These results are populated on the Offrs Smart Data dashboard, providing you with names, contact information, property address and information, as well as property history and sold data.
You can export this data, plug it into a customer relationship manager (CRM), and start your own independent marketing campaigns with it, or you can reach into the next part of the Offrs toolkit, Smart Apps.
Smart Apps: A Closer Look
With the Offrs Smart Apps, you can do all sorts of automated marketing to the property owners that Smart Data identifies so that your first live interactions happen with prospects that have already engaged with your message and are now hot leads.
Specific add-ons also help you to connect with potential homebuyers. Using Smart Apps, you can also drill down further into your community to identify other valuable lead types, like Expireds, FSBOs, Mortgage Leads, and more.
The Offrs toolkit delivers 19 different Smart Apps that all accentuate the value of the insights provided by Smart Data. Here are some of our favorite Smart Apps, a little bit about what they do, and how much they cost.
Our Favorite Free Smart Apps
We gathered a handful of the Smart Apps available for free to anyone who is a Smart Data customer. We found these to be very beneficial tools to help you get the most out of your smart analytics data. Free Offrs apps include:
- Launchpad: This functions as the operating system for Smart Data and all your apps. It’s where you’ll start to complete just about any data or marketing task within Offrs.
- Smart Sites: These are landing pages you can create to attract lead attention. The most popular of the Offrs Smart Sites is a home valuation page, often used in conjunction with some of their paid apps to provide value and generate interaction with the sellers in your territory.
- Template Builder: Most of the paid apps use templated content delivered regularly to reach your target prospects. The templates that come with the premium apps are great, but if you want to build your own templates, you’ll need this free app to create custom content.
Our Favorite Paid Smart Apps
Seller Signal Leads: $50 per Month
The Smart Data algorithm provides you with property owners most likely to sell in the next year, but what about those sellers who have taken the extra step of actively pursuing information about selling their home?
Seller Signal Leads is an app that monitors activity on over 200 third-party websites for potential sellers in your territories. This app flags them as high-priority leads that should get your immediate attention. Leads in this app have filled out forms requesting home valuations or have otherwise actively indicated their intention to sell ASAP.
FSBO Leads: $50 per Month
The Smart Data program helps identify those prospects who are likely to list for sale, but what about those homeowners who have already taken the leap?
FSBO leads are great because you’ve got tangible proof that the property owner wants to sell and wants to sell NOW. All you need do is convince them you’re the right person who can help. The FSBO Leads app provides you with a list, updated daily, of any homes listed FSBO in your territory.
Email Autopilot: $25 Setup Fee, $10 per Month, 1 Cent per Email Sent
Email Autopilot generates automated email marketing drip campaigns to leads identified by your Smart Data. With Email Autopilot engaged, Offrs could potentially find a home seller, send them an email, get a response back from that home seller—all before you finish your breakfast.
You can choose one of their templated drip campaigns or create your own.
Direct Mail Autopilot: $50 Setup Fee, $50 per Month, 70 Cents per Postcard Sent
Like Email Autopilot, Direct Mail Autopilot takes the day-to-day work out of getting direct mail marketing to your prospects. This service, especially paired with the Email Autopilot, is a powerful tool for real estate farmers. The ability to coordinate your messages across multiple platforms will substantially increase your conversion rate.
If you’ve got a dense Offrs territory or are covering multiple ZIP codes, this is a great option. It’s worth noting, though, that unless you’re sending a decent volume of postcards every month, the price of this app makes it tough to get your money’s worth. If you’re just getting started and don’t have many homes in your region, this might not be the best choice.
Voicemail Autopilot: $10 per Month, 1 Cent per Voicemail Sent
The average open rate for an email is about 20% on a great day! The average open rate for direct mail is close to 55%, while the average listen rate for voicemail is close to 96%.
Partnering with Slybroadcast, the Voicemail Autopilot app uses direct bypass communication technology to allow you to skip the ringing of your prospect’s phone and go straight to their voicemail. This tool is powerful because it means you can prerecord messages for certain lead types, and Voicemail Autopilot will deliver them at just the right time. This app is also very enticing because the price is very reasonable, considering the value it provides.
Is Offrs Right for Your Business?
Offrs can be a powerful tool for maintaining and growing your real estate business. Still, to feel good about making a recommendation for you to get started with them, we suggest you have a handful of things already working in your favor.
To get The Close endorsement for Offrs, here’s what you need:
- A healthy budget: Offrs is not the cheapest product on the market. We happen to believe that you often get what you pay for, so this isn’t necessarily a negative. But if you don’t have the budget to invest to really make this tool work, you should wait. Typical Offrs territories run about $350 a month, and with a couple of the paid Smart Apps, you could easily spend $500 a month with Offrs.
- The ability to respond quickly: Offrs leads are a bit of a novelty because the algorithm has identified them as people likely to do business in the next year (making them a hot lead). However, they haven’t yet raised their hand to request information from you (making them a hot/cold lead?).
If your Smart Data shows someone is a likely sale candidate, and your automated prospect marketing generates a response from them, you need to get back to them right away. Success on Offrs means you can’t let your leads sit. Speed-to-lead is critical here.
- A long-term view of success: Let’s assume that you’re spending $500 a month with Offrs, or $6,000 a year. Assuming a 3% commission, it would only take a single sale of a $200,000 home to pay for that annual investment. Depending on the typical home price in your market, this should be pretty easy to get.
But, since this is a prospecting platform that primarily targets homeowners who haven’t proactively requested help yet, your short-term conversion rates may fluctuate. If you get easily discouraged by no sales in a month, two months, or even three months, this might not be the best option for you.
On the other hand, if you have a dedicated budget, a strategy for quick follow-up, and the ability to think long term, Offrs is a great way to power up your real estate prospecting and establish yourself as a top producer in your market.
More Real Estate Prospecting Resources
Looking for other ways to improve your real estate prospecting in 2021? Start with our guide, “15 Clever Real Estate Prospecting Ideas to Boost Your GCI.” If you’re looking for tools to help with your phone prospecting, we’ve got a great list of cold calling scripts and tips you need to read. Got a specific question? Drop a comment below, or ask it in our Facebook Group: The Close Real Estate Agents Mastermind Group.