Why has Domain's "Sold" property data accuracy rate declined from 98% to 92% in Queensland over the past quarter?

Introduction

The decline in Domain's "Sold" property data accuracy rate from 98% to 92% in Queensland over the past quarter is a significant issue that requires immediate attention. This 6% drop could have far-reaching implications for Domain's reputation, user trust, and overall business performance. I'll approach this problem systematically, focusing on identifying the root cause, validating hypotheses, and developing both short-term fixes and long-term solutions.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might be a seasonal factor. Has this decline coincided with any particular real estate season in Queensland?

Why it matters: Seasonal trends could explain temporary fluctuations in data accuracy. Expected answer: The decline doesn't align with any specific seasonal pattern. Impact on approach: If seasonal, we'd focus on adapting our data collection processes for high-volume periods.

• Considering potential system changes, have there been any recent updates to the data collection or verification processes?

Why it matters: System changes often lead to unexpected consequences in data accuracy. Expected answer: A new automated verification system was implemented last month. Impact on approach: We'd need to scrutinize the new system's performance and potentially roll back or optimize it.

• Thinking about data sources, has there been any change in how we're acquiring property sale information in Queensland?

Why it matters: Changes in data sources can significantly impact data quality and completeness. Expected answer: No changes in data sources, but one major real estate agency stopped sharing data. Impact on approach: We'd need to assess the impact of the lost data source and find alternative sources or incentivize data sharing.

• Considering user behavior, have we seen any changes in how real estate agents or property owners are interacting with our platform?

Why it matters: User behavior shifts can affect the timeliness and accuracy of data input. Expected answer: There's been a decrease in agents manually updating property statuses. Impact on approach: We'd focus on improving user engagement and simplifying the update process for agents.