Real estate tech startup RealScout has integrated climate change risk data into its listings platform from climate risk assessment company ClimateCheck, RealScout announced on Wednesday.
The partnership will now allow consumers who use the RealScout platform when searching for properties to view insights into a home’s risk of incurring damage as a result of climate change, including from forces like wildfires or coastal flooding. ClimateCheck’s data is derived from a variety of reputable sources, like academic and government institutions, which can determine risks on a specific property, rather than a more broad, geographical area, which can be misleading.
ClimateCheck generates individual risk ratings for flood, storm, fire, heat and drought on each home, then combines those ratings to create one overall risk rating of climate hazard over the next five to 40 years on a property.
Credit: RealScout and ClimateCheck
Cal Inman | Credit: LinkedIn
“Climate change-driven impacts are increasingly affecting local communities with long periods of unusually hot weather, severe storms, wildfires and flooding,” Cal Inman, ClimateCheck CEO, said in a press statement. “Many of these hazards vary from neighborhood to neighborhood and home to home, creating challenges for homeowners making long-term investment decisions without visibility on how climate change could impact their property over time.”
Inman is the son of Brad Inman, the founder and chairman of Inman Group. Inman Group is not affiliated with ClimateCheck in any way.
Lisa Weener | Credit: RE/MAX
As climate change becomes a greater risk to the planet, where to buy a home and what environmental factors are at play are becoming more pressing issues for homebuyers.
“The next generation of homebuyers is asking questions about the climate risk associated with particular neighborhoods,” Lisa Weener, technology director at RE/MAX Executive, said in a statement. “With RealScout’s ClimateCheck integration, we’re empowering our agents to answer these questions.”
A number of property listing search portals have added different climate risk data over the last year or so. In May, OJO Labs added ClimateCheck risk assessments on its search portal’s listings. Back in February, Redfin started including flood risk data from First Street Foundation on its portal. Before that, realtor.com had started including flood risk data from First Street on listings last August.
Andrew Flachner | Credit: RealScout
“RealScout was created to help improve the home search experience for agent-affiliated consumers,” Andrew Flachner, president and co-founder of RealScout said in a statement. “Adding the integration with ClimateCheck allows us to integrate an important part of a buyer’s due diligence right into their home search process. We are excited for how this can help agents and consumers that utilize the RealScout platform.”