The Buyer Graph initiative powered by real estate tech startup RealScout is making its way down the California coast, it was announced Thursday.
On Thursday, 10 Orange County-area real estate brokerages announced a joint initiative to share anonymized buyer data and habits, following the lead of brokerages in San Francisco and Silicon Valley.
“Orange County is one of the most diverse, dynamic real estate markets in the country,” Andrew Flachner, RealScout’s co-founder and president, said in a statement. “This is exactly the type of market that requires both human expertise and data-driven decision-making to deliver the best results for consumers. The Orange County Buyer Graph is a big step in the right direction.”
The Address, The Agency, The Boutique Real Estate Group, First Team Real Estate, Marker Real Estate, Realty ONE Group, Seven Gables, RE/MAX Cornerstone, Surterre Properties and Vylla are jointly launching the Orange County Buyer Graph.
Together, the brokerages will share anonymized buyer data and access advanced market analytics provided by RealScout. With the power of this data, brokerages will be able to better advise selling clients on pricing strategies – like how to list homes so that buyers will be interested at varying price points.
The brokerages will also be able to provide buy-side clients with insight into the kinds of properties competing home buyers may be looking at, as well as their purchase ability.
“We have a responsibility as brokers and agents to make sure our clients have the best tools at their fingertips, in order to put together the best transaction possible,” Michael Hickman, president and CEO of Seven Gables said in a statement. “The fact that this many brokerages came together under the same vision is a great sign for the Orange County real estate market.”
A number of the participating brokerages currently use RealScout’s tech platform, which also provides listing search and alert, consumer behavior data and analysis in addition to the Buyer Graph.
“We have long been heavy adopters of RealScout, and in 2017 we decided to provide this valuable tool to every First Team agent,” Michael Mahon, the president of First Team Real Estate said in a statement. “We’re confident that the Orange County Buyer Graph’s benefit to our agents and clients is unmatched in the marketplace.”
The first Buyer Graph was launched in New York in September 2018, with Brown Harris Stevens, Douglas Elliman, Halstead Real Estate, Bond Real Estate, Engel & Völkers, Stribling & Associates and Warburg Realty all signing on.
In October, Berkshire Hathaway HomeServices Fox & Roach, Howard Hanna Real Estate Services and Long & Foster Real Estate announced a new partnership with RealScout to bring the Buyer Graph to their respective markets.
Buyer Graphs have also been launched in both San Francisco and Silicon Valley.