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California Regional Multiple Listing Service partners with Local Logic to offer market intelligence
Members of California Regional Multiple Listing Service (CRMLS) now have a new tool to better understand their respective markets thanks to the inclusion of Local Logic on the group’s preferred vendor list.
The agreement was announced May 4 in a press release.
Local Logic is a market data pulse oximeter, an information resource that delivers a broad spectrum of demographic and economic intelligence on real estate markets around the country and throughout Canada. Its intent to help consumers, through products provided agents, enter a transaction with a comprehensive understanding of the world around them.
“CRMLS is known for its innovation and providing its users with industry-leading technology solutions to power their work,” Local Logic CEO Vincent-Charles Hodder said in a statement. “We’re so excited to bring the power of our data insights to CRMLS users and clients.”
Specifically, Local Logic reports now eligible to be used by agents under CRMLS include, demographics, location scores, neighborhood profiles, points of interest and school data. The company’s data tools, which blanket more than 75 billion data points, are popular among commercial developers, municipal planning teams, investors and real estate developers.
Art Carter is the CEO of CRMLS, and said in a statement that this partnership is yet another reflection of its mission to arm its members with an array of buyer and seller advantages.
“Local Logic’s industry-leading data will provide our users with a competitive edge and empower them with incredibly comprehensive information that goes far beyond basics of a property,“ Carter said.
While CRMLS makes great strides in technology choices for agents, it’s also known as the first organization in its space to establish a venture capital fund to back emerging proptech vendors.
It’s the nation’s largest MLS with more than 110,000 agent, broker and appraiser subscribers. It created the fund “as a hedge against changing market forces” in the real estate industry and views new technology investments as “necessary and beneficial” for its subscribers, their clients and the industry at large. Its first investment was in a company named Perchwell, a real estate data visualization, search and collaboration platform for agents and their clients.
Local Logic’s data will be available for use in all CRMLS systems including Matrix, Paragon and Flexmls by mid-year 2023, according to the release.