What if you had a service that could accurately predict which property owners are almost ready to sell their homes? What if you could gain access to their contact information with the click of a button—and with one more click, you could deliver a marketing campaign directly to them?
SmartZip uses predictive analytics to zero in on prospects and provide tools to strategically target them, all with an integrated, done-for-you marketing platform. But how does it all work? And could it make a difference in your farming game? In this SmartZip review, we’ll explore predictive analytics, SmartZip’s marketing tools, how much it costs, and ultimately whether it’s the right fit for you and your business.
The Close Scorecard
My Verdict on SmartZip
For agents who know how to nurture prospects long term, there’s no doubt that predictive analytics are going to play a crucial role in real estate marketing—and SmartZip is one of the best. I expect predictive analytics, and SmartZip in particular, to become a much more mainstream real estate lead generation tool in the next few years. SmartZip not only boasts highly accurate data, but also the tools to directly market to those very specific leads. And it’s all supported by a powerful, dynamic customer relationship manager (CRM). One thing is clear: Agents who bet on SmartZip technology, strategy, and results are likely to see big returns in the future.
What Is SmartZip?
SmartZip is an all-in-one listing and lead farming tool with a proprietary algorithm that aggregates data from more than 30 top data providers nationwide. This includes data points regarding:
On their own, each of these categories provides interesting insight into a prospect’s life. But combined and fed into the SmartZip algorithm, they paint a picture of the leads who are most likely to sell a house in the coming months. In fact, according to SmartZip, this data lends itself to a 72% prediction accuracy rate over 12 months.
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SmartZip Pricing for 2023
What you ultimately end up paying for SmartZip every month depends on the median property value in your area and the market size you purchase. The official line we got was, “We have flexible pricing options starting at $299 increasing to $999 based on required lead volume to hit the agent’s growth plans.”
The base entry cost gives you access to Smart Data (the results of the SmartZip algorithm for your market), integrated marketing solutions, and the SmartZip CRM. Another important element to keep in mind here is that SmartZip requires a 12-month contract to get started.
Key Standout Features
SmartZip is more than just a data warehouse. It provides top-notch services tailor-made for the real estate industry. Check out the features that I think really set SmartZip apart from the predictive analytics competition.
When you sign up with SmartZip, you can immediately access the built-in CRM, which is populated with the company’s Smart Data for your farming areas. Unlike a traditional CRM, it is constantly updated with the contact profiles of those identified as “high likelihood sellers.” These profiles include:
Can I Link SmartZip Data With an Existing CRM?
As you can see from the list above, when you get a SmartZip lead, you aren’t just getting the basic contact information you’d get from another lead source. Most CRMs can’t set up the high number of custom fields necessary to accommodate all this data. My suggestion is to use the SmartZip CRM for their leads. Once you make contact with a SmartZip lead, migrate the data over to your primary CRM through one of their integrations. Cumbersome, maybe, but worth it to capture all of that deep data.
As an automated marketing solution, Smart Targeting uses Smart Data to build marketing campaigns across multiple platforms to target your leads. These SmartZip-identified potential sellers will see marketing from you in the form of direct mail (postcards and letters), email marketing, and ads across social media and Google. You can review every piece of marketing before it goes out to ensure the messaging is in line with your brand and business model.
With Reach 150, SmartZip uses an automated process to reach out to past and current clients and solicit a review. These reviews are plugged into the Smart Targeting system to build additional ads. This clever system works especially well for newer agents. Even if you only have a couple of reviews, the Smart Targeting tool can use them to build ads.
SmartZip can apply its predictive analytics algorithm to contacts within your personal sphere of influence. Just upload your database and SmartZip will identify which of the people you know are most likely to list their home for sale and include them in your Smart Targeting marketing efforts.
Finally, we wanted to recognize SmartZip’s extensive list of resources. Their blog and article series will help any novice prospector tackle a mountain of new leads. From interview templates for a potential lead to tips on how to use social media, they provide a real treasure trove of training.
Not feeling SmartZip but still interested in predictive analytics? Check out this list of our top nine predictive analytics companies that could really boost your business. Considering starting with our review of Offrs, SmartZip’s sister company. They share many of the same data prediction tools, but present their features and pricing differently and offer guaranteed, exclusive leads.
|Exclusive seller leads
|Leads related to inherited property
|Distressed property leads + AI-generated copy
|All-in-one lead generation and CRM solution
|AI-generated real estate marketing copy
|Data for short-term rental buyers
|Comprehensive market data analysis
|Ad spend optimization
|Optimizing a large sphere of influence
The Bottom Line: Is SmartZip Worth the Money?
So, now you know what SmartZip is all about, but the question remains: Is it right for you? If you have strong nurturing strategies, long-term goals, and a healthy budget, SmartZip is an excellent option. I especially appreciated the integrated marketing suite that saves time and ensures effective nurturing.
However, if you want quick wins and one-off leads, there are better options. Also, if you have a limited lead generation budget and lack a fully developed lead nurturing strategy, consider other options.
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Methodology: Why You Can Trust My Review
At The Close, we have many combined decades of experience and we live and breathe this technology. We have had the opportunity to play around with the SmartZip platform and compare it to other predictive analytics companies.
Specifically, I analyzed the following when determining our score:
- Price and value for money
- Quality of data
- Data source diversity
- Additional features
- Prediction accuracy rates (if available)
- Customer service
We review products with you in mind. Will this be affordable and helpful? Is it easy to use? Will it impact your business positively? What are the drawbacks? Who will benefit from this product the most? Our reviews are transparent, honest, and conducted with integrity and experience. Click here to learn more about methodology at The Close.
What is predictive analytics?
Predictive analytics use data, both current and historic, to make better predictions about what will happen in the future.
How does it work in real estate?
In real estate, predictive analytics assesses the past and present behavior of homebuyers and sellers, as well as market trends and behavior. For example, a typical first-time buyer stays in their property for roughly five to seven years. If you research sale dates from about five years ago, you could roughly predict which houses will likely come on the market in the next year or so.
Applying a single data point like the duration of ownership is just the tip of the iceberg. Sophisticated predictive analytic models like the ones SmartZip uses incorporate dozens (if not hundreds) of data points. Taken together, the company’s data creates a detailed picture of a given property and a potential seller. SmartZip harnesses this data to better identify which homes and sellers are the best targets for your marketing efforts.
Bringing It All Together
SmartZip is a cutting-edge predictive analytics company with stunningly accurate data that is priced accordingly. Agents who know how to play this game, who know how to slowly nurture leads over time, will see real value in getting super-targeted leads with SmartZip’s (reported) 72% accuracy rate. It’s not for everyone, but those who can harness the power of this smart data will likely be miles ahead of everyone else.