Friday, May 15, 2015

How Real Estate Uses Big Data to Track Clients - WSJ

From a high-end profiling reality check

"To target prospective clients in competitive markets, tech-savvy agents are buying data subscriptions and teaming up with firms that identify potential buyers using increasingly precise metrics. Exotic-car owners can be courted to buy a car-collector’s mansion. Equestrians are rounded up for ranch homes

Last year, Sotheby’s International Realty announced a partnership with Wealth-X, a consulting group that uses public records and research staff to manually track the habits of “ultrahigh-net-worth individuals.” There are about 211,000 people world-wide valued at more than $30 million, according to the company’s president and co-founder, David Friedman—and the firm’s goal is to write a detailed dossier on each one of them."
How Real Estate Uses Big Data to Track Clients - WSJ
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