CoreLogic® is a data company first and foremost. The applications they develop to meet the needs of different customers in the real estate space are really just an extension of the underlying data. Data is the beating heart of their business, which is why they are so good at managing it.
Before CoreLogic launched Trestle™—recently renamed the CoreLogic Property Data Marketplace —they spent a lot of time thinking about the future data needs of the real estate industry. Rather than adding a RESO-compliant data access point to individual client systems, they chose to consolidate service into a single access point so technology providers could license and obtain data from multiple markets simultaneously.
Said another way: rather than creating hundreds of separate API servers, they created a single platform to provide centralized access to all their multiple listing client data. Now, technology providers that develop applications for brokers and agents spanning multiple markets can license and receive listing data from this single source. But there’s more to it than that.
Parcel-Centric Public Record Data Now Available
If you look at the leading consumer search websites in America today—Homesnap, Homes.com, etc.—you’ll notice you can look up off-market properties (i.e., not currently listed for sale). Offering a parcel-centric view of the real estate market was one of Zillow’s greatest innovations, and websites like Trulia, Redfin, Movoto and others quickly followed suit. WAV Group believes that being parcel centric is the main reason why those sites have been so successful in search engine optimization and consumer experience.
Brokers can now take advantage of this trend too, accessing CoreLogic’s parcel and public record data from the same Property Data Marketplace they use to obtain real estate listings. If your broker website is not already parcel centric, you should consider discussing this with your website vendor.
AVMs are the Next Big Thing for the Property Data Marketplace
Many brokers have already found success using innovative services like Buyside to offer AVMs (automated valuation models) for off-market properties on their consumer websites. Of course, many appraisers or real estate agents will tell you that AVMs can’t predict what a home will sell for … but 95% of the time they should come within 5% of the selling price.
CoreLogic AVMs are among the best in the business, they say that 18 of the nation’s top 20 lenders rely on CoreLogic automated valuation solutions. This is super important because banks make lending decisions based in part on these AVM scores. Soon, CoreLogic will start offering access to their AVM data through the Property Data Marketplace, allowing your technology vendors to display AVM information on your websites and other products. Watch for it.
For more information, about CoreLogic, visit www.corelogic.com/find.
To get started with Property Data Marketplace (Trestle), go to https://trestle.corelogic.com/.