Tech Bytes: News from CRMLS, ShowingTime+, SentriLock, more
CRMLS partners with Local Logic; Listing Media Services expands; Restb.ai and SentriLock each add 2 partners; news from CubiCasa, TrustFunds and Reliance.
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.
CRMLS to receive data insights from Local Logic
The country's largest MLS has partnered with location intelligence provider Local Logic.
California Regional Multiple Listing Service (CRMLS), with more than 110,000 members, announced an agreement with the predictive analytics company that will give CRMLS subscribers access to localized data insights including demographics, location scores, points of interest and more.
Members will be able to use existing CRMLS tools to access the new data, which will be available within CRMLS systems including Matrix, Paragon and Flexmls within the next few months.
"CRMLS is known for its innovation and providing its users with industry-leading technology solutions to power their work," said Vincent-Charles Hodder, CEO and co-founder of Local Logic. "We're so excited to bring the power of our data insights to CRMLS users and clients."
ShowingTime+ service expands to new markets
Zillow's Listing Media Services, part of the ShowingTime+ suite of agent services, is now available in five more markets, bringing the total number of markets to 25.
The latest markets to gain access to the service are Fort Myers, Florida; Salt Lake City, Utah; San Antonio, Texas; Tucson, Arizona; and Riverside, Calif.
The photography service launched in January and allows agents to schedule a professional photographer with on-demand booking for listing photos. The service also offers interactive floor plans and virtual tours, and most recently added a "virtual twilight" feature. In an analysis of listing photos, ShowingTime+ found that listings with "golden hour" photos received 13% more page views and 34% more saves per day.
Georgia MLS, bridgeMLS adopt Restb.ai's tagging tech
Two more MLSs have incorporated Restb.ai's tech into their platforms: Northern California's bridgeMLS and Georgia MLS (GAMLS) are now using Restb.ai's property image tagging capabilities.
Restb.ai uses AI to analyze photos and detect interior and exterior features and room type based on more than 100 RESO-standardized property features. GAMLS and bridgeMLS members can then review and confirm the detected features, which will be populated in the appropriate listing fields.
The integration will reduce listing upload time for agent subscribers, and will enrich MLS data by increasing the number of fields populated for new listings.
Richard Boone, CEO of GAMLS, highlighted the efficiencies of the technology. "Saving our members a significant amount of time by automating the listing input means greater business productivity, and that can help them become more successful," Boone said.
"The potential benefits of Artificial Intelligence are huge — and we are just seeing the beginning of it," said bridgeMLS CEO DaVina Lara. "Real estate AI must be applied to … simplify the complexities of the real estate transactions. Restb.ai is the beginning."
SentriLock partners with Plunk, Rental Beast
Electronic lockbox company SentriLock has announced two new partnerships with technology companies.
In partnering with analytics platform Plunk, real estate professionals will gain access to real-time trends data, property values and other market indicators.
"By making Plunk's market insights available through SentriLock's mobile app, we're delivering a powerful combination of two fundamental tools," said David Bluhm, president and co-founder of Plunk.
"The integration of Plunk's market data and analytics with our electronic lockbox solutions will provide REALTORS® with the tools they need to better serve their clients and stay competitive and essential in the transaction," said SentriLock CEO, Scott Fisher
SentriLock has also partnered with Rental Beast, which will make MLS platforms compatible with rental listing management. The integration will give SentriLock customers the ability to assign electronic lockboxes to their rental listings directly from the Rental Beast platform, making it easier to schedule showings. Just like with their for-sale listings, agents will know when potential renters have viewed the property.
"In solving a longstanding compatibility issue with MLS systems and rental properties, we know that renters, agents, and owners alike will benefit from having an interface tailored for their specific needs," said Scott Fisher, CEO and founder of SentriLock.
Bright MLS adopts CubiCasa's floor plan tech
Finnish technology company CubiCasa is continuing to find partners in some of the top U.S. multiple listing services.
The company, which offers a floor plan creation app, has most recently partnered with Bright MLS, the second-largest MLS with more than 100,000 subscribers. This collaboration represents CubiCasa's 11th MLS partnership since December.
Bright MLS members will now be able to enhance their listings with free floor plans. They will also receive discounted pricing for add-on features and access to CubiCasa's real estate photographer directory.
"Bright has identified visual media, including floor plans, as being critical to the success of listings, and we have invested heavily in innovating in the space," said Richard McDonald, vice president of business development & strategic partnerships at Bright MLS. "With CubiCasa, we see an opportunity to offer subscribers a way to simplify the floor plan creation process so that listings are more effective, allowing our members to maximize the value they provide to their clients."
TrustFunds reaches a transaction milestone
TrustFunds, which provides electronic earnest money solutions that integrate with MLS platforms, announced that it has closed more than $2 billion in digital payments. The company noted that it doubled its closed earnest money transactions from $1 billion to $2 billion dollars in less than two years.
The TrustFunds platform offers a fast and secure way for MLSs to electronically handle earnest money deposits. The company's technology has been adopted by 24 MLSs across nine states.
"When we started TrustFunds in 2015, we set out to provide exceptional service to our clients and revolutionize the industry. This unprecedented growth is a direct result of the hard work and dedication of our team who have been working tirelessly to deliver best-in-class solutions and services," said Lynn Leegard, TrustFunds owner and president.
Reliance Network launches new website for luxury Georgia firm
Software engineering company Reliance Network has partnered with Harry Norman, REALTORS, to launch a new website for the Georgia-based luxury real estate brokerage.
Reliance, which powers more than 200 brokerages with a suite of marketing tools including websites, CRM marketing, and SEO, has upgraded Harry Norman's site to include a hyperlocal MLS search experience.
The boutique brokerage — the first residential real estate firm in Atlanta, according to the company — is home to more than 1,000 agents and operates 15 offices across the greater Atlanta area, North Georgia and the Georgia coast.
"With any technology or innovation that we introduce, we have the client and agent experience at the forefront of our decisions. Working with Reliance Network brings an award-winning web provider to our robust technologies and enables us to elevate the support for clients and positions us for continued growth," said Jenni Bonura, president and CEO of Harry Norman.