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Home valuation and analytics company Plunk is putting its power to predict repair value and market fluctuations to work for other proptechs, according to an announcement sent to Inman.
DropOffer, Calque and SphereBuilder will use Plunk’s Market Insights API to share dynamic real estate industry data with their users and to augment product offerings.
Plunk envisions its data API assisting users in the same way a stock ticker does Wall Street investors, by helping them make critical decisions with the most prompt business information available. DropOffer, which helps buyers find off-market matches and sellers test the private market, can provide its users with a range of data points on what to offer and a solid basis for negotiation.
“The data shows that the majority of what buyers want from their agent is to help find them the perfect home. That means digging through the off-market and sourcing those houses,” DropOffer co-founder Kimani Clark told Inman in January. ”If an agent has the right tools to find those homes, their clients will value that effort more than anything else.”
Calque, a fintech helping homeowners “trade-in” their mortgages, a buy-before-you-sell model, benefits from market data in the assessment of home values for lending products and when their clients consider offers on new homes.
Russ Cofano, who operates marketing performance company SphereBuilder under Collabra Technology, said that timely financial advice is always relevant to creating and measuring real estate marketing.
“We help agents grow their digital presence, and increase their local market influence, by equipping them with real-time data focused on the neighborhoods they specialize in,“ Cofano said.
As in all instances in which agents interface with leads and clients, the more informed they are about a target community, the more credibility their marketing and in-person pitches will carry, the idea driving Plunk’s decision to build an API for connecting with industry colleagues who may not have ready access to timely insights.
“This comparative information deficit has been a major barrier toward building innovative solutions for the entire real estate ecosystem,“ the company stated.
Plunk’s core competency is in assessing how the market reacts to home repairs and renovations. It puts to work an array of databases in the construction, retail contracting and residential sales arenas to offer in-depth presentations and comparisons.
The app also takes into consideration regionally driven data, such as how local industries, retail growth, population and major workforce centers affect a home’s value.
In May 2021, Plunk raised $6.5 million in seed funding. It’s also a 2021 alumnus of the National Association of Realtors’ Reach Accelerator program for proptech startups.