RealScout is bringing its Buyer Graph initiative to Washington, D.C., with 10 of the top real estate brokerages in the nation’s capital, it was announced Thursday.
The Buyer Graph is a tool from the San Francisco-based real estate tech company that allows partner brokerages to share anonymized buyer data and habits, in an effort to provide greater insight to clients on the buy- and sell-sides.
Andrew Flachner | Photo credit: RealScout
“Since day one, deepening the relationships between brokerage, agents and consumers, has been the mission of RealScout,” Andrew Flachner, president and co-founder of RealScout, said in a statement. “Now, more than ever, it’s important to double-down on relationship-based strategies because many real estate portals and iBuyer platforms are starting to compete with the traditional brokerage model.”
Through the Buyer Graph platform, the partner brokerages get advanced market analytics and buyer data powered by RealScout. With that data, the brokerages can better advise selling clients on pricing strategies — and see how the volume of buyer matches changes with small price adjustments.
Conversely, buy-side clients would be armed with anonymized data on how many other buyers are looking in their price range and what kind of competition they could be facing for their dream home. At a time of low inventory, competition for homes is high.
The founding brokerage partners are: Century 21 New Millennium; City Chic Real Estate; Keller Williams Metro Center; Long & Foster Real Estate; McEnearney Associates; Realty ONE Group Capital; RE/MAX Realty Group/100; RLAH Real Estate; TTR Sotheby’s International Realty; and Washington Fine Properties.
“Knowing who the buyers are, where they are and what they’re looking for — all information that’s part of RealScout’s Buyer Graph — is invaluable for our agents and a strong value proposition to their sellers,” Boomer Foster, president of Long & Foster Real Estate, said in a statement. “As one of the anchoring members of the DC Buyer Graph initiative, Long & Foster will be able to offer customers significant visibility into real-time buyer behavior — which is so important during this time when buyer demand is surging in the DC area.”
Washington D.C. is the 12th market for the Buyer Graph initiative, which now includes major cities including Boston, San Francisco, Philadelphia, Los Angeles, and Denver.
RealScout’s technology platform also provides listing and search alerts, consumer behavior data and analysis in addition to the Buyer Graph.
