Adam Contos, CEO of RE / MAX, introduced the new company G73 and unveiled the broker’s evolving data strategy at its annual R4 meeting in Orlando on Wednesday.
RE / MAX has built relationships with hundreds of multiple listing services, scraping and sanitizing data over the past three years. While a new data company was quietly building, it was announced on Wednesday by CEO Adam Contos at the broker’s annual R4 meeting in Orlando.
On stage, Contos first revealed the nature of the company’s data strategy and introduced the new G73, which will operate under the umbrella of RE / MAX Holdings.
“Everyone is fighting for data because data is valuable,” Contos said during the hybrid virtual and in-person event. “Data is the oxygen that drives many of our successes in the industry.”
The company’s new data game is not about a real estate agent’s database or contact book, but rather “using data from multiple sources to guide our decisions, clean them up, complete them, and transform them in a direction that is actionable “Said Contos.
Three years ago, RE / MAX started a data company called Seventy3, a tribute to the year RE / MAX was founded by Gail and Dave Linger. The company was formed to consolidate RE / MAX’s data efforts and build relationships with multiple listing services as data is incredibly fragmented in the real government industry, Contos said.
“We have data from everywhere,” said Contos.
Contos said the project was a big undertaking, but now RE / MAX has agreements with 450+ multi-listing services, and all of those different feeds are flowing into the company’s cloud server. RE / MAX processes 11,000 new entries, 248,000 new photos, 55,000 updates and answers 2 million inquiries every day.
Last year, the company took another step and acquired the Gadberry Group, an Arkansas-based location intelligence company. The acquisition gave RE / MAX access to detailed data on almost every address in America, according to Contos.
“Combine Gadberry data with MLS data and you have a competitive advantage like never before, a more complete picture,” said Contos.
RE / MAX has now combined its data company Seventy3 with the Gadberry Group to create the newly named G73, a company that supports the entire RE / MAX data game.
“G73 is a tool that can be used to create other tools,” said Contos.
G73 is now the data source for RE / MAX’s newly redesigned consumer search website and app, which the company unveiled at its annual R4 conference last year. RE / MAX now fills its website with new entries on its website within 7.5 minutes of the time these entries reach the multiple entry service.
“It’s incredibly fast for this industry,” said Contos. “Our data is better. It’s the complete package. “
The company’s data arm is also at the heart of its Booj agent platform, which the company launched 18 months ago at a conference in Chicago.
RE / MAX’s efforts to build a data center for its own connected agents come at a time when many in the industry are making similar efforts to protect connected agents from larger companies like Zillow, who control the flow of data in the real estate industry .
“If you have a concern and hear about someone in the industry controlling or using your information, please put it aside. Because as part of RE / MAX, you no longer have to rely on anyone for fast, clean and intelligent data. “
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