Cloze Unlocks New Revenue Opportunities for Brokerages by Leveraging Existing Unstructured Data

New Cloze AI Insights plugs into existing brokerage technology stacks to drive higher mortgage capture rates and optimize recruiting, marketing, and lead routing

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--T3 TECH SUMMIT--Cloze, an AI-based intelligence provider focused on the real estate market, revealed today Cloze AI Insights, the latest addition to its product platform, which enables real estate brokerages to increase profitability by uncovering insights hidden within their own unstructured data. As brokerages continue to seek ways to increase margins, Cloze AI Insights offers actionable intelligence 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 a Digital Age,” 98% of realtors use email daily, while 93% “most often prefer text messaging” when communicating with clients. Communication media such as these have driven an explosion in unstructured data within brokerages, contributing to Gartner and IDC estimating 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 individual emails, texts, and conversations.

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

• Mortgage capture: Cloze AI Insights increases overall capture rates by using contextual clues to automatically identify when a client is looking for a mortgage quote or would be receptive to a competitive second opinion
• Lead attribution: With Cloze’s end-to-end analysis, brokerages gain visibility into the origin of every lead, enabling them to more accurately calculate commissions and marketing ROI so they can use marketing dollars more effectively
• Lead routing: Cloze AI Insights routes incoming leads to an agent they already know and trust, leading to more immediate agent engagement, a stronger agent-client relationship, and ultimately, higher conversion rates
• Agent recruitment: Since Cloze AI Insights can identify agents that already have strong connections within the brokerage, Cloze increases recruiting efficiency and effectiveness by focusing efforts on high-performing candidates with a higher likelihood of joining

“Over the years, technology and tool investments have helped us automate processes, optimize the back office, and empower individual agent success,” said Dean Rouso, Senior Vice President Strategic Innovation, and Designated Managing Broker, Baird & Warner. “Cloze enables us to multiply our investments exponentially by leveraging the organization’s collective knowledge to systematically improve capture and win rates. With Cloze, we can identify and capitalize on pre-existing relationships for more effective lead routing and agent recruitment, track deals from lead origination to closed transaction, and feed our mortgage arm with timely leads.”

Cloze AI Insights has been designed to maintain agent privacy by securely isolating each agent’s data. Agents and brokerages only get access to Cloze’s analysis and its associated next steps rather than the private details that fuel those insights. By seamlessly integrating into a brokerage’s existing tools and technology, Cloze eliminates disruption to the day-to-day operations of both the individual agents and the brokerage at large. Cloze’s intelligence is served directly into the tools the brokerage uses every day.

“One of the untapped gold mines within a brokerage is the mountain of unstructured data hidden in the organization—who knows whom and how well, whether a deal originated from a brokerage lead, whether 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 adoption by the agents. By taking action on the insights Cloze finds in their unstructured data, brokerages can monetize their existing relationships to increase margin and drive up 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 brokerages and their agents to close more deals, drive higher revenue, and increase profitability. Using sophisticated AI technology, Cloze sifts through an endless stream of both historical and current communications to provide actionable insights to agents and brokerage leadership.

Savvy agents rely on the Cloze CRM app to gain hours in their day as the AI engine automatically organizes their days, contacts, and deals while surfacing action items and recommended relationships to renew. Meanwhile, brokerages capitalize on their unstructured data to increase mortgage and client 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.