Earlier this month, Santa Barbara based Graphiq and CoreLogic announced an agreement between the two companies. As it turns out, Graphiq has been providing services to other areas of CoreLogic before expanding their relationship to the Real Estate Solutions group managed by Chris Bennett.
Graphiq is a company that takes big data and turns it into something they call Visualizations (think graphs and charts). There are two features which make Graphiq unique. First is that Graphiq can handle CoreLogic’s volume of property data and second, they provide visualizations that are embeddable, update dynamically, and can be accessed using an API. For example, if you build a chart that displays something like price per square foot over a 10-year period of time, the chart will never go out of date. This allows a chart to be easily embedded into a web page or report. This deal allows Graphiq to expand their existing real estate product offering, which already includes location data such as schools, demographics, local businesses, and crime.
The target audiences for this product are Real Estate portals, MLSs and brokers looking to combine CoreLogic market data with MLS data to communicate facets of market analytics to agents and consumers. The pricing is based on consumption of the API, making the pricing very affordable for small firms and scalable for enterprise. Sales are handled through both the Graphiq and CoreLogic sales team.
Competitors in this segment include Teradatum and ShowingTime. RE Technology readers may recall that ShowingTime recently purchased 10k from the Minneapolis Association of REALTORS® and Real Estate Business Intelligence (RBI) from Mid-Atlantic MLS leader, Metropolitan Regional Multiple Listing Service (MRIS). These acquisitions have helped ShowingTime extend their product reach to more than 900,000 real estate professionals.
According to CoreLogic Real Estate Solutions General Manager, Chris Bennett, “Having a powerful, scalable solution will help address a major gap in the marketplace, while also allowing us to diversify and strengthen our product offerings. We look forward to working with Graphiq and integrating their visualization tools into our products and services in the future.” CoreLogic was recently awarded the Innovator of the Year Award by real estate news publisher, Inman News.
It is great to see CoreLogic leveraging their massive data repository to drive innovation into the hands of MLSs and brokerages. This arrangement with Graphiq will deliver tools that the practitioner can use to play a more significant role in being the provider of the most accurate, timely, and comprehensive information on what is happening in the real estate market.