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Fla. Brokerages Using AI to Rev Recruitment

Just as “predictive analysis” can identify homeowners likely to sell soon, AI broker software can identify top candidates who may be willing to make a move.

NEW YORK – Some brokerages are using predictive analytics tools to identify which agents are likely to join their companies and help accelerate business.

Jay Parker, CEO of Douglas Elliman in Florida, uses a machine learning-based platform called Courted to identify agents most likely to leave their companies. Courted examines metrics across agents’ careers and from their office, such as whether their managing brokers have stayed with the firm, who their colleagues are, and who they frequently conduct business with.

“We think of it as a smoke detector,” says Courted founder Sean Soderstrom, formerly the national expansion leader at Compass. “I can’t tell you another company is calling them, but I can tell you they are seven, eight times more likely [to move].”

Some brokerages such as Anywhere, the parent company of brands like Century21, Corcoran and Sotheby’s International, are developing their own tool based on machine learning algorithms, which is a type of artificial intelligence (AI). Anywhere’s chief product officer, Tony Kueh, says the company’s tool evaluates agents’ past performance to predict future growth.

South Florida-based ONE Sotheby’s International Realty also uses an externally developed predictive analytics program, according to chief growth officer Taylor Travaglione.

“Now, we have an even steadier and more consistent introductory flow of new prospects and new agents,” he says, adding that the program generates leads “almost by the hour.”

Coldwell Banker’s Southeast regional president, Duff Rubin, says the company recruited roughly 2,500 agents in Florida last year using its predictive model, which assesses agents’ aptitude for future success.

Source: The Real Deal (09/05/23) Wall, Sheridan

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