Real estate brokers spend a lot of time looking for potential buyers and sellers, and now they’re putting some big data and analytics muscle into their work.
Smartzip Analytics owns a big pile of property and demographic data that can help brokers understand the desirability of a property. Smartzip already has a list of big real estate firms for customers, including some large real estate portals like Homes.com, ZipRealty, and RealtyTrac.com.
A new product called “Smart Target” uses big data and a special algorithm to zero in on homes that are most likely to be sold in the next six to twelve months. This allows agents and brokers to spend less time on weak prospective customers and more time on strong ones, the company says.
The system apparently works. According to a Securities and Exchange document filed today, Smartzip has raised a new $12 million round, led by Crest Capital Ventures. Existing investors Claremont Creek Ventures and Intel Capital also contributed.
Pleasanton, Calif.-based Smartzip has now collected $23 million in venture capital investment.