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Cloze unlocks new revenue opportunities for brokerages by leveraging existing unstructured data

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NEWPORT BEACH, Calif.–(BUSINESS WIRE)–T3 TECH SUMMIT–Cloze, an AI-powered insights provider focused on the real estate market, today unveiled Cloze AI Insights, the latest addition to its product platform, which enables real estate brokers to increase their profitability by uncovering hidden insights in their own unstructured data. As brokerages continue to look for ways to increase their margins, Cloze AI Insights offers actionable insights that can dramatically improve business results across multiple areas of a brokerage’s operations.

According to the National Association of Realtors’ 2021 report, “Real Estate in the Digital Age,” 98% of real estate agents use email daily, while 93% “most often prefer text messaging” when communicating. with customers. Communication media such as these have led to an explosion of unstructured data within brokerages, contributing to what Gartner and IDC estimate that 80% to 90% of new data is unstructured. Cloze AI Insights can sort through all this data to find opportunities for brokerage growth and efficiency that are currently lost in millions of one-to-one emails, texts, and conversations.

Initially, Cloze AI Insights offers brokers four different opportunities to improve their profitability:

  • Mortgage capture: Cloze AI Insights increases overall capture rates by using contextual cues to automatically identify when a customer is looking for a mortgage quote or would be receptive to a competitive second opinion

  • Lead Attribution: With Cloze’s end-to-end analytics, brokerages gain visibility into where each lead is coming from, allowing them to more accurately calculate commissions and marketing ROI so that they can use marketing dollars more effectively.

  • Lead routing: Cloze AI Insights routes inbound leads to an agent they already know and trust, resulting in more immediate agent engagement, a stronger agent-customer relationship, and ultimately account, higher conversion rates.

  • Agent Recruitment: Because Cloze AI Insights can identify agents who already have strong relationships within the brokerage, Cloze increases recruiting effectiveness and efficiency by focusing efforts on top performing candidates with a higher probability of joining

“Over the years, investments in technology and tools have helped us automate processes, optimize the back office, and drive the success of every agent,” said Dean Rouso, senior vice president of Strategic Innovation and Designated Chief Broker, Baird & Warner. “Cloze allows us to multiply our investments exponentially by leveraging the collective knowledge of the organization to systematically improve catch and win rates. With Cloze, we can identify and capitalize on pre-existing relationships for more efficient lead routing and agent recruitment, track deals from lead origination to closed deal, and feed our mortgage arm with timely leads. .

Cloze AI Insights was designed to maintain agent privacy by securely isolating each agent’s data. Agents and brokers only have access to Cloze’s analysis and its associated next steps rather than the private details that feed into this information. By seamlessly integrating with a brokerage’s existing tools and technologies, Cloze eliminates disruptions to the day-to-day operations of individual agents and the brokerage as a whole. Cloze’s intelligence is served directly in the tools that the brokerage uses on a daily basis.

“One of the untapped goldmines within a brokerage is the mountain of unstructured data hidden in the organization – who knows who and how, if a deal is from a brokerage prospect, if a client needs a mortgage quote,” said Travis Saxton, EVP Technology, T3 Sixty. “Cloze AI Insights taps into the relationships of every agent within a brokerage without sacrificing their privacy or requiring universal agent adoption. By acting on the insights Cloze finds in their unstructured data, brokerages brokerage can monetize their existing relationships to increase margin and increase profitability.

To learn more about Cloze AI Insights, visit https://www.cloze.com/app/ai-insights.

About Cloze

Cloze’s real estate-focused AI (artificial intelligence) platform empowers brokers and their agents to close more deals, generate higher revenue and increase profitability. Using sophisticated artificial intelligence technology, Cloze sifts through an endless stream of historical and current communications to deliver actionable insights to agents and brokerage management.

Savvy agents rely on the Cloze CRM app to shave hours out of their day, as the AI ​​engine automatically organizes their days, contacts, and deals while popping up action items and recommended relationships to renew. Meanwhile, brokerages are capitalizing on their unstructured data to increase mortgage and customer capture rates, all without changing the way your agents work, the tools they use, or sacrificing the privacy of their sphere. To learn more, visit cloze.com.