Or, is it welcome to DC, RealScout? Either way, we are excited to share the launch of the DC Buyer Graph today, with 10 leading real estate brokerages in the capital area. This initiative helps member brokerages take control of the customer search experience while providing market transparency in the face of changing market conditions.
The DC Buyer Graph founding members include 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.
“Since day one, deepening the relationships between brokerage, agents and consumers, has been the mission of RealScout, “ said Andrew Flachner, President and Co-Founder of RealScout. “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. For years, RealScout has helped brokerages strengthen their network via high-engagement buyer tools, and more recently with seller tools powered by the Buyer Graph.”
With the addition of the DC Buyer Graph, the initiatives now cover a dozen regions, including major metropolitan areas like Boston, San Francisco, Philadelphia, Los Angeles, and Denver. In the Capital Region, which is part of the Bright MLS footprint, participating brokers will be able to glean data across Washington DC, Maryland, and Virginia, which is particularly helpful as area buyers have numerous neighborhood options and may cross state or district lines to find the perfect home.
“In these rapidly changing times, CENTURY 21 New Millennium was looking for a partner who would be able to provide our agents with a competitive advantage, and, most importantly, our clients with an extremely powerful added benefit to our value proposition. RealScout is most definitely that partner,” said Todd Hetherington, CEO of CENTURY 21 New Millennium.
Since this summer, RealScout has been debuting new features that make the Buyer Graph even more valuable to agents, brokers, and consumers. Utilizing pooled and anonymized buyer activity, Buyer Graph data shows where buyer attention is most concentrated, and how it’s evolved over time. The data also shows what impact small adjustments to list price have on the volume of buyer-matches, among other listing-specific insights. As market conditions change day-by-day, these tools can help listing agents engage their seller clients, produce highly relevant listing presentations, and craft well-informed pricing (and price adjustment) strategies.
“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,” said Boomer Foster, president of Long & Foster Real Estate. “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.”
“The Buyer Graph puts real-time information at our fingertips in an unprecedented way. With the MLS we’ve always had insight into the supply side of the equation: listings. Now we have a powerful tool on the demand side – what buyers are actually searching for,” said David Howell, EVP/CIO of McEnearney Associates Real Estate. “It makes our agents better and, even more importantly, equips our clients with information they need to make sound decisions in a rapidly changing market. It’s no wonder we’ve had very wide and rapid adoption among our Associates.”
RealScout’s award-winning home search platform, which was recognized recently as one of the top resources for real estate agents (Source: RISMedia), enables high-touch collaboration with buyer clients during a time when agents can’t be physically present for much of the clients’ home search. The insights generated from this buyer activity is securely anonymized and repackaged to power the DC Buyer Graph alongside twelve other regional Buyer Graph initiatives.
The DC Buyer Graph, like all Buyer Graphs, is open to any brokerage. Broader participation in a Buyer Graph improves market transparency and benefits real estate consumers by powering even more data-driven decision-making. In markets where Buyer Graphs are not yet formed or announced, brokerages can opt to anchor a brand-new initiative with peers in their market. To join an existing Buyer Graph or to inquire about starting a new Buyer Graph, contact email@example.com. Learn more at learn.realscout.com/buyergraph.