Industry NewsTechnology

NeighborCity automates agent matches

Site builds algorithm to rate agent performance

While most home sellers and buyers still choose their real estate agent by word-of-mouth, there are an increasing number of tools available to find agents online. These tools can be structured around consumer ratings and reviews of agents, or actual agent performance as measured by a range of statistics. NeighborCity.com, an online brokerage and property-search site owned and operated by licensed brokerage company American Home Realty Network, has built an algorithm for agent performance that factors in the agent's location, the number of bedrooms, the price range the agent specializes in, how the sale prices of the homes the agent sold differs from the listing prices, how long those properties remained on the market relative to comparable properties, and the agent's client volume. While the site includes comments about agents from consumers, those reviews are not included in its algorithm. Within the next few months, NeighborCity has plans to display more detailed stat...

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