How Data Analytics is Transforming the Real Estate Industry

Realtybiz News | April 02, 2020

The rise of modern data analytics has had a transformative impact on many industries, and real estate is no different in this respect. Understanding the changes that have been brought about by cutting edge number-crunching tech can help give you insights into the fresh opportunities that have arisen in this arena, so here is a look at the effect data analytics have had from a real estate perspective. There has always been a glut of data available to those working in real estate, although often it was difficult to glean actionable conclusions from the information available because of the sheer volumes involved.

Spotlight

West Coast apartment fundamentals remain extremely strong while East Coast markets continue to lag due to new supply,” said David J. Neithercut, Equity Residential’s President and CEO. “While a return to more normal, seasonal operating trends will likely cause same store revenue growth to fall modestly short of our original guidance midpoint this year, our revised expectations remain well above historical trends, making 2016 another exceptional year for Equity Residential.

Spotlight

West Coast apartment fundamentals remain extremely strong while East Coast markets continue to lag due to new supply,” said David J. Neithercut, Equity Residential’s President and CEO. “While a return to more normal, seasonal operating trends will likely cause same store revenue growth to fall modestly short of our original guidance midpoint this year, our revised expectations remain well above historical trends, making 2016 another exceptional year for Equity Residential.

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REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT

SVN® Expands Presence In Florida with the Addition of SVN | Waterfront Commercial Realty

SVN | September 20, 2022

SVN International Corp. (SVNIC), a full-service commercial real estate franchisor of the SVN® brand, announces the addition of its new franchise office, SVN | Waterfront Commercial Realty, based in Jupiter, Florida. Operating as a branch of SVN | Florida Commercial Real Estate Advisors for more than ten years, SVN | Waterfront Commercial Realty is an established commercial real estate firm led by Managing Directors Robert Hamman, Keith Kidwell, CCIM, SIOR, and Jerry Anderson, CCIM. Now, SVN | Waterfront Commercial Realty is expanding their geography and specialties into the Jupiter and North Palm Beach markets. The firm’s specialties include land, marinas, restaurants, high profiles businesses with real estate on the intracoastal, general office, and retail. “After more than ten years as a successful SVN Advisor, I was thrilled about the opportunity to start a business partnership with a top commercial real estate brand, For Hamman, SVN was the only choice. With SVN, we gain the visibility and technology of a global brand, plus access to a strong network of SVN Advisors spread across the country.” -Managing Director, Rob Hamman Through this strategic partnership, SVN | Waterfront Commercial Realty plans to expand with new offices in Stuart, Palm Beach Island, and North Palm Beach. As the east coast of Florida continues its phenomenal growth, we are positioned perfectly to assist investors and other owners of commercial real estate. Our expansion bodes well to serve our existing clientele as well as new clients. About SVN | Waterfront Commercial Realty SVN | Waterfront Commercial Realty is a successful CRE brokerage firm serving the Jupiter and North Palm Beach markets. The firm’s specialties include land, marinas, restaurants, high profiles businesses with real estate on the intracoastal, general office, and retail. About SVN® The SVN organization is a globally recognized commercial real estate entity united by a shared vision of creating value with clients, colleagues, and our communities. The SVN brand is comprised of over 2,000 advisors and staff in more than 200 offices across the globe in six countries. Our brand pillars represent the transparency, innovation, and inclusivity that enables all our advisors to collaborate with the entire real estate industry on behalf of our clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN advisors create amazing value with our clients, colleagues, and communities.

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REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING

Amrock Unveils Technology to Close Mortgages on Mobile Devices, Giving Consumers the Power to Complete a Home Loan from Anywhere

Amrock | September 14, 2022

Amrock, the nation's largest title insurance, property valuations and settlement services provider – and a part of Rocket Companies – today announced the introduction of proprietary technology to electronically close (eClose) mortgage transactions entirely from a mobile device. This new product represents the final step in Rocket Companies' creation of a seamless, end-to-end real estate experience clients can use to go from application to closing on the iPhone or Android phone they use every day. Rocket Companies, through its Rocket Mortgage brand, offers a completely digital home loan experience for consumers, including the ability to apply, receive approval and lock their rate for a mortgage – all from their smart phone. Now, through Amrock's first-of-its-kind technology, clients can close on a mortgage by connecting with the closing agent or notary from a mobile device no matter where they may be in the world – a revolutionary and convenient new feature. This transformational innovation helps consumers complete the historically cumbersome final step in a home loan process from anywhere at any time. "Our company has always been focused on meeting our clients wherever they may be, but we were limited by the industry's standards for closing mortgages. That was the driving force behind Amrock creating this technology, providing the ability to close mortgages for a spouse traveling for work, a military member serving away from home or countless other real-world scenarios, Rocket Mortgage pioneered getting a mortgage online from a smart phone – now, Amrock is providing the final piece of the puzzle for a complete mobile mortgage experience." -Nicole Beattie, CEO of Amrock Henry Winfield, an Amrock client based in Virginia, used the mobile technology earlier this year to close on a refinance while in North Carolina for work. The new feature enabled both he and his wife to video chat with the notary and digitally sign all necessary documents quickly and safely. When my wife and I found out closing virtually from our smartphones was a possibility, we were delighted – it was perfect for our circumstance and we didn't have to delay the closing, The experience was quick, intuitive and secure – and we had access to knowledgeable experts who helped us every step of the way,said Winfield. Amrock's mobile closing capability is part of the Rocket Platform through which clients can search for a home with Rocket Homes, get a home loan from Rocket Mortgage, eClose on their mortgage through Amrock via Remote Online Notarization (RON), In-Person Electronic Notarization (IPEN) or a Hybrid eClosing, and now, can close on their mortgage completely from a smart phone. Clients that prefer to keep some elements of their home loan journey non-electronic can still choose to do so. Our mission at Rocket Companies is to simplify life's most complex moments so our clients can live their dream, and we've delivered yet again on our vision to create a seamless real estate experience by being the first-ever to revolutionize the closing process, In addition to new mobile capabilities, clients can now move from mortgage processing with Rocket Mortgage to closing with Amrock through a single sign-on feature – a seemingly small, yet significant example of how the Rocket Platform removes friction every step of the way for consumers,said Jay Farner, CEO of Rocket Companies. Based on the volume of registered notes on the Mortgage Electronic Registration System (MERS), Amrock is currently responsible for the majority of eClosings throughout the country. Its clients can complete a mobile RON when refinancing a mortgage in nearly 60% of the U.S. – each state where RON eClosings are allowed by law. Amrock plans to roll out mobile RON capabilities for all mortgage transactions, including home purchases, by the end of 2022. About Amrock Amrock is the leading national provider of title insurance, property valuations and settlement services. The company delivers FinTech solutions to streamline the real estate and mortgage experience for lenders, consumers and real estate professionals. Amrock is a preferred provider to top retail mortgage lenders, with a wide range of clients throughout the residential and commercial real estate finance industries. Driven by thousands of professional partners and team members nationwide, Amrock is headquartered in the heart of downtown Detroit, Michigan with regional service centers in California, Pennsylvania and Texas and additional locations in several other states. For more information, please visit Amrock.com. About Rocket Companies Founded in 1985, Rocket Companies is a Detroit-based FinTech platform company consisting of personal finance and consumer technology brands including Rocket Mortgage, Rocket Homes, Amrock, Rocket Auto, Rocket Loans, Rocket Money (formerly known as Truebill), Rocket Solar, Rocket Mortgage Canada (formerly known as Edison Financial), Lendesk, Core Digital Media, Rocket Central and Rock Connections. Rocket Companies' mission is to be the best at creating certainty in life's most complex moments so that its clients can live their dreams. The Company helps clients achieve the dream of home ownership and financial freedom through industry-leading client experiences powered by its simple, fast and trusted digital solutions. Rocket Companies ranked #7 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 19 consecutive years.

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REAL ESTATE TECHNOLOGY

Blueground to Acquire Brazilian PropTech Startup Tabas, Accelerating Its Global Expansion in South and Central America

Blueground and Tabas | November 18, 2022

Blueground, a PropTech scaleup offering a turnkey, flexible housing solution for renters globally, announces today it entered into agreement to acquire Brazilian PropTech startup, Tabas. Marking the first acquisition in Blueground’s nearly 10-year history, the company will soon acquire Tabas after leading Tabas’ $14 million Series A funding round earlier this year. Tabas is the largest operator of designer-quality furnished apartments for 30 days or more in São Paulo, Rio de Janeiro, and Brazilia. The acquisition, which is expected to close in early Q1 2023, enables Blueground to enter the Latin American market, and fuel the increased demand for furnished, flexible rentals in the region. Together Blueground and Tabas will launch Mexico City in early 2023. During the period between now and close, the two companies will continue to operate independently and will gradually integrate over the next year. The combined organization will have a presence in 29 cities across 16 countries, employing over 1,000 people. Based on current financial projections, the joint entity is projected to generate ~650M in 2023. Blueground is the largest turnkey property rental company in the 30+ day sector. It has a network of 9,500 move-in-ready, expertly-designed homes enabling people to flexibly live wherever they choose. The company was co-founded by CEO Alex Chatzieleftheriou in 2013, who, after many years as a business consultant, had experienced first-hand the pain points of living out of hotels for work for months at a time. He aspired to create a seamless way for people to freely move between neighborhoods, cities, and countries around the world. Blueground currently works with over 4,700 landlords globally, guaranteeing them rental income while providing expert property management and maintenance services at scale. The acquisition of Tabas will allow Blueground to grow its network faster, supporting its goals of 40,000 apartments across 50 cities by 2025, and add more location options for its client base. “We’ve had our sights set on Latin America for quite some time, as we see huge market potential for furnished and flexible rentals, Since our first investment in Tabas last year, we’ve developed immense respect for the Tabas team and what they’ve built in Brazil. With our best-in-class technology and our expertise in scaling the business, we'll continue to expand and offer the option for a flexible lifestyle in more markets globally.” -Alex Chatzieleftheriou, CEO and Co-founder, Blueground Founded in May 2020, Tabas was born out of the founders’ frustration with the lack of flexible, fully furnished rentals for mid- to long-term stays. Tabas now has over 1,000 apartments in three cities in Brazil - São Paulo, Rio de Janeiro, and Brazilia, raising over $20 million in funding prior to the acquisition. As the first project post-acquisition, Tabas will offer its knowledge and understanding of the market to support the launch of Blueground in Mexico City in early 2023, marking Blueground’s 30th city, and 11th in the last 12 months. Tabas and Blueground’s visions are fully aligned and together we can create even more value for our guests, our landlords and the Tabas team, This acquisition is yet another success story for Brazilian proptech companies. We're proud of the work we’ve done to get us this far; now it’s time to take it to the next level and continue bringing the turn-key, flexible rental living concept across Latin America,said Leonardo Morgatto, Co-founder and CEO, Tabas. The pandemic gave rise to new work environments, enabling people to explore the world and forgo traditional long-term leases for flexible rentals. To keep up with the growing demand, Blueground has doubled its supply of apartments in the last year. The acquisition is subject to standard closing conditions, including regulatory approvals. About Blueground Blueground is a global PropTech company that operates a curated network of thousands of quality, turnkey homes in sought-after neighborhoods around the globe, making them available for stays of a month or longer. Blueground’s tech-enabled platform provides a fully digitized experience; from viewing and booking available apartments within minutes to managing the entire stay through the Blueground Guest App. Blueground is headquartered in New York City, with a portfolio of thousands of apartments in 26 cities worldwide including in New York, Los Angeles, San Francisco, Boston, Chicago, Washington D.C., Denver, Seattle, Austin, Miami, Dubai, Istanbul, Paris, London, Vienna, Zurich, Berlin, Madrid, Barcelona, Lisbon, Basel, Luxembourg, Copenhagen, Hong Kong, Singapore, and Athens. Blueground plans to expand to 50 cities by 2025. About Tabas Tabas is a Brazilian real estate technology startup providing beautifully-designed fully-furnished apartments for flexible stay. Founded in early 2020, it already has more than 1,000 apartments in its portfolio, in the cities of São Paulo, Rio de Janeiro and Brasília, all located in upscale neighborhoods, equipped and decorated with sophistication. With unprecedented flexibility for the Brazilian market regarding rental contracts, the company works with terms starting from 30 days of rent, guaranteeing the property maintenance to the owners and uncomplicated and well assisted reservations to the tenants.

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