CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, recently announced the launch of HomeStandings on RE/MAX Mainstreet, a members-only extranet website exclusive to the RE/MAX organization, including RE/MAX Affiliates, RE/MAX Employees and RE/MAX Approved Suppliers. According to the company, the HomeStandings report provides property specific, easy-to-understand, professional-grade data and analytics that enable RE/MAX Agents to accurately assess the overall purchase quality of a home.
HomeStandings combines property, neighborhood and market characteristics to provide a complete local understanding of a home’s value, marketability and rent potential and is available for virtually every property in the United States.
Additional data taken into consideration include area pricing, surrounding market conditions, crime rates, schools, estimated market rent and investment opportunities.
“RE/MAX is pleased to work with CoreLogic to provide our agents with detailed property data that produces a significant competitive advantage,” says Mike Ryan, executive vice president, RE/MAX Global Communications and Branding. “Home buyers and sellers are always anxious to understand the true value of their home, and increasing numbers of investors will appreciate this information in analyzing the specifics of their real estate investments.”
According to the company, RE/MAX Agents gain a greater competitive advantage with insight into the complex mix of property, neighborhood and market trends that drive property values, rental prices and market potential. Agents will provide further value to buyers, sellers and investors with essential data to help manage risk, decide whether to sell or rent properties, and perform due diligence prior to buying properties or distressed asset pools.
The company notes that the use of the HomeStandings report also has a unique component that can help agents quickly identify potentially profitable foreclosed properties that are eligible for resale based on the grade generated by the report for each property. To confirm this capability of HomeStandings, CoreLogic reviewed more than 115,000 properties that were sold as foreclosures and then resold within six months. The study revealed that properties that earned an A grade with HomeStandings had a resale profit averaging $81,000 higher than those with D and F grades.