Tech Bytes: Predicting foreclosures, providing floor plans and more
ATTOM debuts foreclosure tool, New Mexico and Utah MLSs partner with CubiCasa, Ocusell discounts business audits for MLSs, MooveGuru acquires a competitor.
Editor's note: Technology is a driving force in real estate. From startups to established players, tech companies are constantly innovating, growing and forging partnerships. Here we highlight some of the latest news about the companies that help power the industry.
ATTOM rolls out foreclosure prediction tool
ATTOM now has a software product that uses predictive technology to identify the probability that a house will experience a mortgage default within the next 12 months.
Powerlytics will use a proprietary database of anonymized tax returns covering 150 million U.S. households to score properties across the nation on the likelihood of going into foreclosure.
The company said in a news release that this will help industry professionals in a variety of ways. Agents, for example, can use the data to target marketing to homeowners in their area who may be motivated to sell.
"With the recent lift in foreclosures across the nation, insights into the financial health of homeowners offers a powerful and unique solution for understanding who might be in distress," notes ATTOM Chief Product & Technology Officer Todd Teta in the news release.
"Along with the value of a home and a homeowner's equity position, the overall financial health of the homeowner creates a full picture of the borrower's willingness and ability to stay current on their mortgage and out of default. Combining these data points yields a much more predictive solution than the individual data points do on their own."
CubiCasa secures partnerships in New Mexico, Utah
CubiCasa has added two MLSs to its partnership program since Feb. 1: New Mexico MLS and UtahRealEstate.com. The tech company offers members of the multiple listings services access to floor plans through the CubiCasa scanning app.
"This partnership is a natural next step in bolstering our robust property database to provide a more informed home buying experience across New Mexico," said Megan McFarlane, executive director of New Mexico MLS. "The ability to seamlessly include floor plans on every listing using CubiCasa will help potential buyers better understand the layout of a property and allow them to truly envision themselves calling one of our property listings home."
UtahRealEstate.com, one of the nation's largest MLSs serving around 20,000 members, will also be developing a new tool for their MLS system for uploading floor plans. On their listings, floor plans will be clearly distinct from other media such as photos or video tours.
"Working with CubiCasa allows us to provide our agents with an easy-to-use tool to deliver an even better homebuying experience," said Brad Bjelke, CEO of UtahRealEstate.com. "In today's constantly evolving real estate market, it is important that we provide as much data and information on a property as possible, and CubiCasa is empowering our members to do just that."
Members of both MLSs will now have access to free floor plans as well as a discounted rate on optional add-on features like placing fixed furniture into a floor plan, and access to an active directory of real estate photographers who are currently using CubiCasa, the company said.
Ocusell offers discounted audits
Ocusell, an enterprise listing solution for brokers and teams, announced a special discount for MLSs to conduct a business rules audit.
MLS business rules are the foundational instructions for software integration to streamline and improve real estate transactions, according to Ocusell, but "are often inaccurate, outdated, and in conflict with National Association of Realtor policies and regulations, and even go against the MLSs' own policies," said Hayden Rieveschl, Ocusell CEO and co-founder.
"It is a key responsibility of every MLS to make sure the business rules it has in place are efficient and available for those listing management platforms and do not hinder its ability to serve its broker members," said Jeremy Crawford, president and CEO at First MLS in Georgia.
"MLSs need to realize that every update to an MLS system or change in key personnel is a system transition. A business rules audit ensures MLS has the right rules in place," said Rieveschl.
The cost of the discounted audit is $15,000 and is available for a limited time.
MooveGuru is on the move with Relocator acquisition
MooveGuru, which helps real estate and mortgage industries stay connected with customers "from one move to the next" has announced the purchase of Relocator, described as an industry competitor.
Founded in 2016, MooveGuru serves more than 370,000 agent and loan officer clients with more than 70 data integrations. MooveGuru is used by ERA, Keller Williams, Better Homes & Gardens Real Estate and Berkshire Hathaway HomeServices, among other clients.
MooveGuru will begin offering Relocator's mover dashboard as a DIY option for movers to schedule providers or track tasks and services needed to settle into a new home.
"We have long admired the Relocator platform and mortgage customer base," said Scott Oakley, CEO of MooveGuru. "Our combined entities position MooveGuru as the exclusive solution for agents and loan officers to offer their clients all the tools they need to self-manage their move and beyond as part of the entire homeownership life cycle".
Relocator co-founders Mark Johnson and Andy Solheim will both join the executive team of MooveGuru. Relocator employees will remain with the combined company.