Multiple listing service platform provider Rapattoni Corp. has entered into a multiyear agreement to license property tax, deed and mortgage records, and foreclosure data from RealtyTrac. The partnership also includes neighborhood data aggregated by RealtyTrac subsidiary Homefacts.
RealtyTrac CEO Jamie Moyle said in announcing the agreement that it’s one of 14 deals the company has closed since a legal settlement put RealtyTrac, a longtime provider of foreclosure data, in the business of providing property tax, deed and mortgage records.
Listing data image via Shutterstock.
In March, data aggregator CoreLogic agreed to license national assessor and recorder bulk data to RealtyTrac, to clear the way for CoreLogic’s $661 million acquisition of DataQuick. Antitrust regulators had expressed concerns that the deal would leave just two providers of assessor and recorder data: CoreLogic and Lender Processing Services (LPS is now Black Knight Financial Services).
Moyle pledged at the time to “bring the same creativity, flexibility and transparency” to the market for tax, deed and mortgage data that he said RealtyTrac brought to the foreclosure data market.
Many consumer-facing real estate search sites license data to let visitors look up what a home has sold for in the past, and to provide other insights about market conditions and neighborhoods that can be useful to buyers and sellers. Real estate agents and brokers may have more sophisticated tools for accessing and analyzing data, which they use to advise clients and land business by demonstrating their market knowledge.
Based in Simi Valley, California, Rapattoni says its MLS software is used by approximately 200,000 real estate professionals nationwide, and that its Realtor association management software is used by associations serving more than 85 percent of U.S. Realtors.
“RealtyTrac brings a creative and flexible solution to the data licensing business across a nationwide footprint,” said Rapattoni’s Stan Marriott in a statement. “We have found RealtyTrac to be a highly collaborative partner, and the availability of Homefacts neighborhood data made the company a natural selection.”
RealtyTrac became a provider of “hyperlocal” neighborhood information like crime statistics and registered sex offender data, school ratings and environmental hazards in 2012 when it acquired Homefacts.
“RealtyTrac is becoming an important resource to value-added resellers and licensees in the industry,” said RealtyTrac’s Brian Mushaney in a statement. “Our lack of channel or client-specific conflict with our potential license partners sets us apart from our competitors.”