The 2024 Super Bowl wasn’t short on intrigue. It was election-year rematch. It featured two of the top offensive masterminds. It pitted the game’s greatest active quarterback against ‘Mr. Irrelevant.’
But one of the more interesting storylines this year happened entirely off the field: The bets. There are scores of legal bets you can place for the Super Bowl, everything from standard wagers on the spread and player stats to irreverent gambles that have little to do with the game itself—like how many times the camera cut away to Taylor Swift (we bet on the over).
While each bet is different, they all have one key thing in common: They are all informed by data analytics.
Ironically, the gridiron and real estate field have a lot in common when it comes to data.
First, how analytics make the (sports) world go round
As any NFL fan can attest, every football game produces a vast amount of data that is routinely harnessed and examined by fans, experts, and commentators alike. This data ends up producing individual-level (e.g. Player Y had a quarterback rating of XX%) and team-level (e.g. Team X is 95% likely to win this game based on the first XX minutes) analysis.
The industry of sports betting, similarly, collects and analyzes all types of data to set scarily accurate odds and probabilities for each game and player. And bettors can do the same. The recent democratization of sports data put significantly more power in the bettor’s hands—allowing them to take a more objective, informed approach to betting with success. Historical records, player performance and trends, and weather patterns are at their beck and call, so they can go on more than just a gut feeling or insider insight.
NFL teams are all in on the analytics, too. Many organizations have created their own departments for data analytics, relying on them to help coaches and staff improve on their in-game decision-making (something a certain coach struggled with in the playoffs last month), player performance analysis, competitive insight and coaching trends, and so much more. And why not? Every action in the game creates a wealth of actual, usable data that can be harnessed and translated into real-world benefits for players, coaches, and even in the game itself.
While some folks in the old school get nauseous at the thought of integrating analytics deeper into the game, their concerns are misplaced. Data analytics doesn’t diminish the human element of sports. Data analytics empowers experts, not replaces them. It's like giving quarterbacks a playbook; not taking away their throws.
Analytics give us the power to supplement our own unique experience, knowledge, skills, and intuition with data. This only serves to bolster and reinforce the natural, intangible qualities that we’ve earned over time.
In other words, data analysis can make us stronger at the things we’re already really good at.
Bringing the power of data analytics to real estate
Like football, real estate produces a wealth of data with every activity. Market conditions. Properties. Transactions. Pricing. Inventory. The list goes on.
And just like in football, this data can be tapped into any time and used to inform your strategies for recruiting, growth, expansion, marketing and more. It can (and should) become as integral to your brokerage as your commitment to providing superior customer service.
Think of the positive impact analytics can have on some of the most critical elements of running your real estate brokerage. With the wealth of data analytics available today, here’s what you can expect:
- Recruiting doesn’t need to be a numbers game. It can be targeted and precise, and informed by real ‘player’ performance.
- The market doesn’t have to be an amorphous blob. It can be clearly understood and communicated on based on a range of key performance indicators and trends.
- Marketing doesn’t need to be lipstick on a pig. It can be backed by proof, data-informed statements on the demonstrable value your brokerage uniquely provides.
Whether you’re a brand-new broker looking to excel, or an established market leader looking to expand, the success and sustainability of your brokerage doesn’t need to be a bet.
With real estate analytics, it can be a sure thing. Say goodbye to those old days of making Hail Mary passes and hoping for the best.
So, how can you better recruit, compete, and strategize with real estate analytics?
You’re in luck. A major upgrade just came to real estate’s top analytics tool, BrokerMetrics. The powerful market analytics tool in BrokerMetrics, Market Dynamics, gives you all the answers with its intuitive, user-friendly interface—so you can tap into your market’s metrics anytime, anywhere.
This new and improved tool combines historical trends with current production data to give your brokerage a crystal-clear picture of your market’s current—and potential future—activity. It gives you the ability to drill into the latest metrics on days on market, supply and demand, and pricing trends—all so you can give your agents and clients a data-backed blueprint to succeeding in current market conditions.
With 2023 in our rearview, there is no better time to understand the intricacies of your local market and strategize with your agents and clients to take advantage of what the data is actually telling you.
But that’s only one piece of the puzzle. With BrokerMetrics informing your in-house analytics, you can also:
- Find, target, and recruit top producers: Analyze agent performance metrics in your market for sales volume, transactions, sales rates and much more. Strengthen your recruiting strategy with data-backed insights into the best—and bet fit—agent for your brokerage.
- Discover and reinforce your differentiators: Drill into data on inventory levels, closing rates, and pricing to identify what makes your brokerage special and the one that top agents want to join. When you can shine a light on your competitive differentiators, you can prove your value to agents, buyers, and sellers—and keep them coming in.
The Super Bowl isn't just about touchdowns and interceptions (or commercials); it's a data-driven powerhouse. The same goes for your brokerage. With all the data available, now's the time to use it.
Click below to get started with BrokerMetrics today.