Industry NewsTechnology

Technology puts data in broker hands

Analyzes market, listing, office info for variety of uses

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After a decade in the real estate data and technology business, Steven Hightower and his team at Terradatum set out to build a piece of technology that would enable real estate brokers to utilize market and office data to make money. The result was BrokerMetrics, a business tool that enables broker managers to mine MLS data and office statistics to gauge market share, market trends, appropriate pricing for new listings top-producing agents' results and other statistics. Brokers can pinpoint how their office compares with other brokerages so they can compete more successfully and predict turning points in the local market so they can prepare for them more effectively. Brokers also can use the technology to figure out which agents would be profitable new recruits for the company. "We do a lot of statistical analysis of data...Market share is something we find that brokers across the country are tremendously interested in," Hightower, Terradatum's CEO, said. Terradatum uploads MLS d...