Remine is a sleek new data visualization and enrichment tool for multiple listing services.
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Remine, a data company, partners with MLSs to augment information with predictive analytics and data visualizations.
Platforms: Browser-based
Ideal for: Multiple listing services (MLSs)
Top selling points
- Property activity tracking
- Deep data on listings and non-listed properties
- Homeowner data
- ‘Likely to sell’ score
Top concerns
- Failure of MLS boards to realize value
What you should know
Remine is data-driven software designed to significantly enrich the data real estate agents find on their MLS.
Remine combines public, MLS and consumer information to build a suite of tools that extract valuable market data from existing properties.
From the Opportunities tab, Remine allows users to search every listed or non-listed home to find out if the owners are occupying it, what the mortgage balance and rate might be, its transaction history, or if it’s adjacent to any Airbnb homes.
Predictive analytics: From scale to months
This data is used to, among other things, apply an RPI (Remine Property Index) score, a ranking of how likely the owner is to soon sell.
However, using a scale of 1 through 100 to gauge likelihood to sell creates a lot of gray area. Remine is changing the ranking to show a prediction of time in months, e.g., one to six months, or seven to twelve, etc.
Holding all the cards
Hovering over a property displays a property card with images and data, and clicking through the card opens a full listing page.
Every property can be tracked for ownership milestones, such as mortgage payoff, foreclosure activity and even updates if the owners recently retired or changed jobs. Tracked properties can be compared and saved for ongoing oversight.
Remine also allows owner contact information to be purchased directly through the software.
Heating up
The Expert Insights heat maps can be applied to quickly visualize the number of homes in a search that were bought with cash.
It can also show if multiple houses are owned by the same person or if they are owned by an LLC, typically an indication of rental properties.
The software still lets an MLS work like an MLS.
Remine is out to squeeze as much information as possible from the real estate market, and there’s a lot more to be had than just days-on-market and zoning.
The software still lets an MLS work like an MLS. Users can do agent searches, run comps and create lists.
Remine positions itself as an added value to its MLS partners. Therefore, its customers don’t charge agents for its use. Agents can choose to pay for access to advanced tools and property information.
Current scope
The company has four announced MLS partnerships that combined reach 100,000 agents. More are in the works but not yet finalized.
I find Remine to be a very sharp and useful add-on for any MLS.
It unearths the kind of data that is making America’s real estate a highly valuable information engine for industries the world over, especially now that we owners are so intent on sharing everything.
Have a technology product you would like to discuss? Email Craig Rowe
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