The strategic partnership will enable Coldwell Banker Bain, an independently owned and operated franchise of the Coldwell Banker system serving Northern Oregon and Southern Washington, to provide location-based search and analytics services to its customers.
“Partnering with Local Logic unlocks a vast trove of contextual location data for our customers across the Pacific Northwest. By enhancing the search experience, we are now in a perfect position to help them make more informed real estate decisions,” CB Bain Executive Vice President of Marketing Scott Hannaman stated in the release.
Three products from the partnership have already been showcased, including:
- Local Content: displaying points of interests and characteristics of a location, enabling consumers information on what is nearby a property (i.e. schools, restaurants, grocery stores)
- Demographic Data API: service providing comprehensive location data, such as median household income, size, education, etc.
- Local Search and Local Maps: tool for finding property best matching their lifestyle.
Local Logic provides a number of AI-powered location and property insights to consumers, using over 75 billion data points. The company also previously partnered with CoreLogic to provide location intelligence for OneHome.ca, CoreLogic’s platform for connecting homebuyers, agent and sellers across Canada.
The company intends to use this partnership to continue expansion across North America in an attempt to increase action and understanding for consumers, investors and developers.
“As we continue expanding across the US, we are thrilled to partner with CB Bain to help their customer base better understand location and neighborhoods,” stated Vincent-Charles Hodder, CEO and co-founder at Local Logic.
While incumbents like Zillow and Redfin provide some of these services already, incorporating them and additional information into a real estate office means customers also have access to professional insight on the data.
In addition, this is another step towards digitizing real estate transactions and home buying. While prospective buyers may still be inclined to drive around a neighborhood and ask questions, giving them this data online should make the experience easier and reduce the hassle of investigating “out-of-the-box” information on local housing markets.
Targeting offices, instead of individual consumers, seems smart to me. Not only does it enable Local Logic to access a larger base of customers, but it also allows them to add contextual expertise to their data and help buyers make better decisions in the long term.
“Homebuyers, just like the rest of the real estate value chain, desperately need location context to make sound investment decisions, and we are proud to be empowering them with powerful data-driven solutions,” Hodder said.
In other recent proptech news, FinLedger spoke with John Paasonen, CEO and co-founder of digital mortgage platform Maxwell. PURE also raised $50 million for its property management company consolidation platform.