HOUSINGNEWS REPORT
BEYOND WHAT’S YOUR HOME WORTH: THE 7 MOST INNOVATIVE AVM APPLICATIONS
worked as a data scientist at Facebook before joining Audantic. “We can eliminate 80 percent of the population, and we can double or triple their results.” 3. How Much Will You Accept For an Instant Cash Offer? So-called iBuyer companies such as Opendoor and Offerpad utilize the ATTOM AVM to help determine how much they should offer to prospective home sellers visiting their websites. After entering their home address, those owners receive a nearly instant cash offer that also comes with the convenience of not having to stage and show a home, along with the ability to select a pre- scheduled move-out date. Offerpad combines the AVM with additional data from ATTOM and other sources to analyze market trends and ultimately make offers on individual homes, according to Chief Real Estate Technology Officer Dan Mayes.
knows how to use when buying and selling homes,” he said. “From deep neighborhood data that helps set a benchmark for offers, to providing property characteristics to better help us determine the needs of our buyers.” 4. How Much Will You Donate to a Good Cause? Here’s an innovative AVM application that is more removed from the world of real estate — at least at first blush. Windfall Data utilizes an ATTOM AVM to help it identify, target and engage affluent consumers for nonprofits. Estimated property value and home equity represents a major source of wealth and affluence for most Americans. “Windfall models out the net worth of affluent consumers with more than $1 million in wealth,” said Windfall Data CEO Arup Banerjee. “In addition to net worth, we also provide additional household-level data (we call them triggers /signals) so that our customers can analyze their existing customer base and acquire
net-new customers through omnichannel marketing.”
5. How Quickly Can You Apply for a Loan? As a younger generation — many of them digital natives born with a silver iPhone in hand — enters prime homebuying years, the need for a low- friction, digital mortgage experience is becoming more critical for lenders who want to compete. Online mortgage marketplace LendingTree facilitates such an experience at the top of the loan origination funnel, using an AVM and other property data from ATTOM to streamline the online application process — and also validate property value and other information about a home. LendingTree’s streamlined loan application process attracts quality mortgage leads even in market cycles when lenders are struggling to gin up business through more traditional lead generation methods.
“Offerpad receives data from many sources, and most importantly
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DEC 2018 | ATTOM DATA SOLUTIONS
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