RealScout has added its 16th Buyer Graph cohort in Los Angeles, according to an announcement on Wednesday. Two dozen local brokerages will now share real-time anonymized buyer data and habits on the Buyer Graph platform, which enables agents and brokers to make quicker and more accurate pricing decisions.
“Our latest buyer graph is anchored by a diverse mix of franchises and independents,” said Andrew Flachner, president and co-founder of RealScout. “Brokers and agents from all types of companies recognized the benefits of bringing actionable, real-time demand data to their clients in a hot market.”
“[The LA Buyer Graph] is unprecedented, as it’s our largest buyer graph today. [Previously], our largest one was in New England with 17 brokerages,” Flachner added in a brief phone call with Inman. “We have iconic brands, such as Corcoran Global Living and Berkshire Hathaway Homeservices California Properties. The launch of this Buyer Graph is something I’m really excited to share.”
In addition to displaying real-time listing and sales data, the Buyer Graph includes a heat map that displays past and current buyer patterns, such as the most popular neighborhoods and property types. Agents and brokers can also view data-driven listing price suggestions, and see how price adjustments could impact buyer demand.
Lastly, users can also view an individual property’s flood, storm, fire, heat and drought risk rating through RealScout’s partnership with climate risk assessment platform ClimateCheck. “Adding the integration with ClimateCheck allows us to integrate an important part of a buyer’s due diligence right into their home search process,” Flachner told Inman in July. “We are excited for how this can help agents and consumers that utilize the RealScout platform.”
LA Buyer Graph founding members Paul Benson and Stephen Shapiro said RealScout’s in-depth and real-time data is crucial to today’s market, which is moving faster than ever.
“The value of real-time buyer data is crucial for our agents to stay competitive in this fast-paced industry,” said Benson, who is an Engel and Völkers partner and CEO of the Gestalt Group.“Clients demand information that will guide their approach as they work to achieve their real estate goals. And agents require real-time data as well to successfully service their clients.”
“RealScout allows us to remain a small boutique brokerage while providing large-scale tools for our agents and clients,” Shapiro added.
Additional brokerages can join the Graph by contacting RealScout, the announcement explained.
Since its launch, RealScout has built an impressive group of Buyer Graph members. Nearly 40 percent of the real estate brokerage executives represented on the Swanepoel Power 200 list have joined the initiative, according to a previous Inman article.
RealScout also has Buyer Graphs in Raleigh and Charlotte, North Carolina; East Bay, Orange County, San Diego, San Francisco and Silicon Valley in California; Denver and Northern Colorado; as well as Nashville, New York City, Philadelphia, Boston, New England and Virginia Beach.
Additional founding members of the LA Buyer Graph include: Acme Real Estate, Bayside Real Estate Partners, BHHS California Properties, Big Block Realty, Century 21 Astro, Century 21 Citrus Realty, Century 21 Union Realty Co., Corcoran Global Living, Dilbeck Real Estate, Kaminsky Real Estate Group Brokered by eXp, First Team Real Estate, Harcourts Prime Properties, Keller Williams Beach Cities, Marker Real Estate, Pacifica Properties Group, Palm Realty Boutique, RE/MAX Estate Properties, Realty One Group, Side, Strand Hill Christie’s International Real Estate, Suarez Team, and Wish Sotheby’s International Realty.