The trade group will be able to use “pre-move” data to inform reports on migration patterns and housing demand.

With “the great reshuffling” underway as people with increased flexibility to work from anywhere move to homes that better fit their needs, relocation trends can be hard to spot in real time.

To tackle that problem, the moving app Updater has partnered with the National Association of Realtors to provide the trade group with anonymous, aggregated relocation data, Updater told Inman in an exclusive Tuesday.

New York-based Updater helps homebuyers tackle moving-related tasks such as hiring a moving company, forwarding mail, changing utilities and connecting their TV and internet service. Real estate agents can pay $149 per year to offer a branded version of the app to their clients.

NAR’s venture capital firm Second Century Ventures has invested twice in Updater. In 2014, Updater closed an $8 million funding round in which SCV contributed $1.97 million, representing an 8.7 percent stake in the startup. Updater was one of seven companies in the inaugural 2013 class of REACH, NAR’s tech incubator. In February 2020, Updater secured an additional $20 million in equity funding, led by SCV.

Now, NAR and Updater have signed a deal to provide the trade group’s 1.48 million members with “unique and comprehensive real-time, pre-move data” that Updater obtains in part through partnerships with hundreds of real estate companies, including brokerage, mortgage, multifamily and more.

NAR will be able to use the data to inform its trend forecasting and reporting efforts and empower Realtors “with actionable insights they can’t get anywhere else,” Updater said in a press release.

“Real-time insight into relocation trends and forecasts will allow NAR’s Realtor members to leverage new, sophisticated tools to serve their clients,” said David Greenberg, Updater’s founder and CEO, in a statement.

“Moreover, NAR’s ability to access pre-move data for the first time will only further establish the organization as the housing-industry leader that consumers trust most. We look forward to continuing to deepen our long-standing relationship.”

Because the data comes from fully-verified movers, it doesn’t suffer from the timeliness and accuracy problems that can occur when tabulating mail forwarding forms, which are not real-time and exclude moves that are not designated as permanent, according to Updater.

“Updater also engages movers weeks prior to a move, meaning its data can be used to predict with greater accuracy where people are migrating in the U.S.,” the company said.

The specific data that Updater will provide NAR includes:

  • Proprietary pre-move timing data
  • Homeownership vs. rentals
  • Origin and destination home size
  • Origin and destination addresses
  • First-time homeownership identification

As part of the deal, NAR members will have access to both national and local moving data, including exclusive, Realtor-only content, the company said. NAR will also be able to use the data in its reports for consumers. NAR will publish the data, credited to Updater, on its economics blog and in an internal portal for members where the trade group will create a designated section detailing the coming month’s moving trends.

“We are very pleased to have access to data trends related to migration patterns across the country,” said Lawrence Yun, NAR’s chief economist, in a statement.

“The information is much timelier than government data on population movements. Therefore, the use of Updater proprietary information will provide invaluable research about changes in residential location and of housing demand at the local level.”

Updater declined to comment on how much NAR will pay for the relocation data.

Editor’s note: This story has been updated with a decline to comment from Updater on terms of the deal.

Email Andrea V. Brambila.

Like me on Facebook | Follow me on Twitter

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription