The original real estate disruptor, Coldwell Banker entered the market with an innovation that fundamentally changed the industry and has been leading the charge ever since.
“The brand itself has a 110-year heritage of innovation, which has demonstrated various meanings over the lifespan of the brand,” says Charlie Young, president and CEO of Coldwell Banker Real Estate. “We’ve always been able to point to tangible, factual elements in the history of innovation.”
The brand’s consistent strive for innovation is rooted in serving consumers’ needs and shaping their experience, as well as driving the success of their real estate agents. And that’s just what Coldwell Banker has done. In fact, their steadfast commitment to keeping their ear to the ground while being on the leading edge of emerging shifts and trends, paired with their network of savvy agents and brokers, has positioned them to be even stronger today—and well into the future. Here, take a closer look at how the brand is fostering connections with its network, its customers and the real estate community by using—and even creating—technology to remain relevant and innovative in today’s world.
Technology Reigns Supreme
With so many people bringing innovation to the marketplace, now is not the time to sit back. “We’re in an era where the bright, shiny object gets a lot of attention—and there’s a high expectation for newness in the marketplace,” says Young, who points to the brand’s proprietary CBx application as one of the most significant—yet underestimated—platforms that makes up the brand’s technology suite. An exclusive app for Coldwell Banker agents, CBx uses the power of big data to help agents improve their marketing with easy-to-understand profiles of potential buyers and maps that highlight areas where that buyer is most likely currently living.
With a built-in AVM component, CBx also includes a function to show how a listing should be priced and why, backing up an agent’s professional price opinion with concrete, third-party data.
“Whomever came up with CBx is a genius,” says Anthony Colantuono, a REALTOR® associate with Coldwell Banker Hunter Realty in Northeast Ohio, who credits the platform with winning him an unfair share of listings in his marketplace. “It’s unreal how accurate it is when it comes to determining a listing price for a specific property,” he adds.
CBx, the brainchild of Coldwell Banker CMO Sean Blankenship, ensures movement patterns are turned into insights that predict the most likely zip code a buyer will come from, making targeted marketing much easier for agents and placing the application in a league of its own. “Not only can I gain insight into the average age of prospective buyers in the area, but I can also see the top areas in which they’re searching, as well as searches initiated within a certain timeframe,” says Colantuono, all of which can be shared with sellers to help them better understand where buyers are coming from.
CBx is humanizing big data. The display makes it easy to discuss trends and their impact on home price with clients, and it makes it easier for …read more
From:: Real Estate News