I recently created a software system to generate offers across the country in a very systematic way. Before I roll it out to others, I was wondering what kind of market or interest there may be for it. The way it works is as follows:
All the properties across the country that are currently listed for sale come into the system.
A user can select their state that they are currently looking in.
They can sort based on $ differences and % differences between the list price and the median, list price and estimate of value, list price and tax assessment, etc. The user can also use keyword scores to highlight the properties with the best keywords in their comments section (probate, short sale, etc may be scored high, fully remodeled could be scored low.)
Then the user can enter an offer price and click send. This sends an email offer which autofills all the relevant fields directly to the real estate agent. The system also allows the user to setup a phone number for sms and I am integrating telephone calls directly from the browser.
Another cool feature we integrated is machine learning AI to predict what the price would be based on how we have bid.
Probably one of the most useful aspects of the system is that properties can be rated from 1 to 5. 1 would be the homes you dont want to touch so they are removed from your view and you never have to see them again and 5 would be the properties you want to get an offer out on. So a VA could essentially rate the properties and then you could go in and place bids on them or go view the properties to better determine the numbers.
1 other feature is that if a price changes and I placed an offer, that offer gets automatically sent back to the listing agent. Can also automate the offer to be sent every 30-60-90 days depending on your market and how aggressively someone wants to follow up with agents.
So that is what the system does in a nutshell. I am trying to figure out if I partner with guys outside of my state or if we offer the system out on a subscription basis.
Any feedback would be great. If you are interested in taking a look at it, ping me and we could jump on Skype. It's really tailored to someone looking to do a lot of volume. Not really something for the guy that does 2 or 3 houses a year.
Anyways, this is my first post out there into the community on this topic. I have worked a great deal on my own as a real estate investor for the past 8 years and have grown my business exponentially since I started but my latest thought is to work with other guys and try to get their business streamlined. At least in terms of acquisition. This way, maybe I could partner with guys in other parts of the country as I am partnered with a private equity firm here in CT.
Thanks guy...any feedback would be awesome.
Out of curiosity, is this for SFR only? On the commercial end, take a look at Crexi.
I think with enough data your AI portion would be an awesome addition. Ill send you a connect request. Cool idea.
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