Brian Boero’s Friday Flash today is particularly interesting. He talks about the growth of predictive analytics, and writes this:
It’s two years from now. Pretty much every agent in America has some sort of predictive analytics tool available to them, either through their broker, franchise, MLS or by buying it directly. They’re all looking at the same geographies with the same lens.
And you’re a homeowner that has been flagged as likely to move.
Hordes of agents have your address. Your phone number. Maybe your email address. The steady drip of agent postcards you got in the past will seem quaint compared to the, um, “focused” attention you’re getting now.
It sucks to be you.
He then mentions a company called HouseCanary:
HouseCanary, a startup backed by ex-Google CEO Eric Schmidt and former NBA star Kobe Bryant that claims to “see into the future of real estate”, closed a $33 million funding round back in January.
HouseCanary does pro-level real estate data analytics for investors, mortgage companies, appraisers and (at least in theory) real estate brokers and agents.
It’s heavy duty, big-brained stuff. Graduate level Zestimates. Predictive market forecasts.
It’s $1,000 per month for a “Pro” subscription, which, unfortunately, will probably be considered too expensive by most real estate brokerage companies. I wish this wasn’t the case. Brokers could benefit from tools like HouseCanary, which give them an opportunity to preserve their place as local market authorities.
In fact, a real estate brokerage could build an entire marketing campaign around the insights derived from an investment in high-end analytics.
I read that and thought, huh, TEOTWAWKI….
HouseCanary + Opendoor = ?
Maybe it wouldn’t suck that much to be the homeowner flagged as someone likely to sell. Because the hordes of real estate brokers and agents doing an entire marketing campaign “focused” on you based on high-end analytics can’t do the one thing the homeowner really wants: write a check. Opendoor and its competitors like OfferPad, Amne and zHome (and more soon to come!) can.
Who wins that fight for hearts and minds?