With mortgage rates on the rise, mortgage professionals have been dealing with their fair share of challenges this year. HousingWire recently spoke with Charles J. Williams IV, founder and CEO of Percy.ai, about what housing professionals can do to improve their deal flow despite the turbulence of the current housing market, and how investing in valuable data insights could be the key to success.
HousingWire: What are the greatest challenges to quality deal flow in our current rising interest rate environment?
Charles J. Williams IV: Mortgage market volatility should not be having a huge impact on quality deal flow if your tech stack is tried and true. In fact, now is arguably the best time to improve QC across the board, as we are in a period of reduced transactional volume. It’s true that interest rates are currently high. For homebuyers, home sales continue to decline, and both of these are impacting affordability. But real estate transactions are happening out there, and savvy practitioners can still get a slice of the action.
However, investing in real estate is not for the timid, and we’re seeing seasoned professionals in the space deliver stellar results, even today. The truth is there are more and more tech elements out there that help real estate investors, be it potential homebuyers, cash-only buyers or iBuyers. These systems can help property purchases happen in ways we only dreamed of as little as five years ago.
What do I mean by that? Well, there are fintech solutions that allow you to invest fractionally in a home. Only got $1000? There is an app for investing that money in real estate. So the challenge is seeing new faces enter into this relatively unregulated arena and try to lure away smart money from well-established real estate investment platforms. Is investing in 5% of the home really a solid contributor to the idea of quality deal flow? We don’t believe so. It’s innovative for sure, but so is Percy.ai.
Percy.ai replaced the previous model of “I can sell your home; here are similar homes which have sold recently” with “I can sell your home; here are a number of active buyers looking for a home just like yours!” Our real estate agent and mortgage lending partners experience a strong ROI, generating leads by engaging with consumers through unique and compelling information based on data. We don’t use bells and whistles, we deliver high-quality results. Period.
HW: How can real estate agents and loan officers collaborate to foster strong relationships with clients despite rising rates?
CW: Well, finding and using a single platform to digitally collaborate is key and also a big reason for Percy.ai being brought into existence. Percy.ai aggregates client activity during their real estate pre-buying and pre-selling activities, using it to power actionable insights and intelligent marketing tools that help build relationships, capture seller leads, win more listings and close more transaction sides.
Our team brings decades of real estate and technology industry expertise. We understand the unique challenges real estate and mortgage brokers face and we wake up each day excited to help you conquer them.
HW: How is Percy.ai utilizing data to help improve deal flow in today’s market?
CW: Percy.ai is known for its ability to harness the power of data to provide meaningful and actionable insights for homeowners and therefore maximize opportunities for both real estate agents and mortgage lenders. We’re leading the charge to further unlock the potential of the Percy.ai platform by building new, faster and more robust systems and algorithms.
Commissioning a team to rebuild large parts of the platform from the ground up with an emphasis on speed and reliability and utilizing best-in-class tools, we are setting the bar high and excellent results are expected.
At our heart, Percy.ai is a real estate data and analytics company that combines real-time and archival consumer behavior data with a proprietary machine learning engine to help real estate professionals and mortgage lenders find new clients and close more transactions.
In 2021, Percy.ai clients closed more than $130 Billion in sales through Buyside, averaging over a 400% ROI. Percy.ai supports over 100 large real estate brokerages and customer leads have run over $1 Trillion in sales opportunities through Percy.ai’s Home Valuation Pages.
To learn more about utilizing data to improve deal flow, visit percy.ai.