RealScout has launched its biggest Buyer Graph to date, it was announced Friday.
A total of 17 brokerages — including five Sotheby’s International Realty franchisees — are partnering to bring the tool that allows brokerages to share anonymized buyer data and trends to New England, the technology platform’s 11th market.
“With continued uncertainty in the larger economy, we hear about sellers lacking confidence in putting their homes on the market, leading to tight inventory across the country,” said Andrew Flachner, President and Co-Founder of RealScout. “When listing agents are able to gauge and share data about buyer demand, clients can build the confidence they need.”
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. A built-in feature can show what small adjustments would have on the volume of buyer matches, for example.
The brokerage partners will also be able to arm buy-side clients with knowledge into the kinds of properties competing home buyers may be looking at, as well as their purchase ability.
It provides real-time data on buyer demand, which can give brokerages a clearer picture of what the rapidly fluctuating market looks like, versus relying on historical or monthly data. The company also debuted geographic heat maps this summer, which can show, in real-time, where buyer attention is most concentrated.
The founding members of the New England Buyer Graph are: Barrett Sotheby’s International Realty; BHHS Commonwealth Real Estate; BHHS Warren Residential; Century 21 North East; Elite Realty Advisors; Gibson Sotheby’s International Realty; Hometown Realtors; Jack Conway & Company Inc.; LAER Realty Partners; Lamacchia Realty; LandVest; Leading Edge Real Estate; Mathieu Newton Sotheby’s International Realty; Mott & Chace Sotheby’s International Realty; RE/MAX Partners Relocation; Realty One Group; and Unlimited Sotheby’s International Realty.
“RealScout’s Buyer Graph data gives us new and compelling ways to visualize market data,” Anthony Lamacchia, broker/owner and CEO of Lamacchia Realty, said in a statement. “The heat map and buyer price brackets are excellent tools for not only advising sellers who are coming to market or need price adjustments, but also helping buyers make informed decisions in tough markets.”
RealScout’s technology platform also provides listing and search alerts, consumer behavior data and analysis in addition to the Buyer Graph.