A total of nearly 50,000 agents in the country will have access to anonymized buyer habit data as the Buyer Graph initiative for RealScout expands to Philadelphia with nine brokerages initially signing on. It’s the eighth market for the platform, offering by real estate tech startup RealScout.
“Brokerages already have the advantage in fighting the battle for buyer data: strong relationships with high-intent consumers,” Andrew Flachner, the co-founder and president of RealScout said in a statement. “Our Philadelphia partners make up the latest group of visionary brokerages coming together to empower agents with sophisticated, real-time market analytics.”
The Buyer Graph allows the partner brokerages to 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.
The initial brokerages partnering together are: Berkshire Hathaway HomeServices Fox & Roach, Long & Foster Real Estate, RE/MAX 440, RE/MAX Central, Elfant Wissahickon, Realty One Group, Quinn & Wilson Realtors, Houwzer and Vylla Home.
“The Philadelphia Buyer Graph is a unique opportunity for brokerages of our size to take advantage of our existing buyer data to provide real value back to consumers,” Joan Docktor, president of Berkshire Hathaway HomeServices Fox & Roach, said in a statement. “It enables us to take advantage of our business’s most important assets, and deliver value to our clients like never before.”
Many of the brokerages involved have significant reach outside of the Philadelphia area, into New Jersey, which will give the brokerages access to even more data. A number of the brokerages also already rely on RealScout’s technology platform, which provides listing and search alerts, consumer behavior data and analysis in addition to the Buyer Graph.
“Long & Foster agents have been leveraging RealScout’s leading listing alert and home search platform to deliver a stellar customer experience to our clients,” Gary Scott, president of Long & Foster Real Estate, said in a statement. “Early on, we saw RealScout’s potential to bring a data-driven approach to not only home search, but also marketing and decision-making, and it’s been an invaluable addition to our associates’ suite of services.”
Philadelphia is the eighth market to launch a Buyer Graph, joining Denver, East Bay, Nashville, New York City, Northern Colorado, Orange County, CA, San Francisco and Silicon Valley.