- With a major upgrade announced this week, Everyhome is now looking at property on a larger scale.
- After hiring and consulting with some heavy-hitting data scientists, Everyhome's capabilities extend to analyzing a city's most underutilized properties and reporting back their highest and best use.
- Like so many other big industries, real estate is creeping toward subservience to big data.
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Everyhome.co is a data-driven real estate search and property information portal.
Platform(s): Desktop, browser-agnostic
Ideal for: Agents, teams and brokerages who work with investors.
Top selling points
- Widespread applications beyond residential real estate
- Consolidation of dense data into slick interface
- Intrinsic zoning code interpretation
Top concerns
- Stand-alone product
- Current market limitations
- Will new features overshadow initial home search offerings?
What you should know
I reviewed Everyhome.co a few months ago.
It helps people make an offer on a home not listed with any agent. Or, you can list your home as available on Everyhome and see if anyone bites.
With a major upgrade announced this week, Everyhome is now looking at property on a larger scale.
According to Everyhome co-founder Bryan Copley, this new release is aligned with his goal to “Use data to make people happier.”
This new release is aligned with Copley’s goal to “Use data to make people happier.”
Based on what I saw, his goal isn’t all that lofty.
Everyhome has been busy the last year hiring and consulting with some heavy-hitting data scientists of the MIT variety to evolve its product into something that can actually help real estate professionals build smarter cities.
Not “Bluetooth” or “virtual reality” smart, but the kind of smarts that involve physically (and culturally) re-engineering municipalities to make every city a better place to shop, walk, eat, drink and, of course, live.
Here’s the idea
Everyhome analyzes a city’s most underutilized properties such as warehouses, houses, condos, or coffee shops and reports back their highest and best use.
It also provides what an investor could see as a return-on-investment calculation when that property use is put to action.
For example, you could make 125 percent of your investment by building condos or maybe 137 percent with an apartment property.
Most people who have spent even a few days in commercial real estate will have a hard time believing the veracity of Everyhome’s announcement.
This is because Everyhome is reducing an often months-long due diligence process for investors and developers into a few mouse clicks.
Plot maps. Phone calls. Aerial photos. Property records. Town halls. Grumpy zoning office clerks. Historically, the hours spent trying to assemble the data needed to re-purpose, market and sell a plot of land is excruciating.
Perhaps the most impressive feat herein is that Everyhome has built a zoning ordinance “Rosetta Stone” of sorts that spits back a market’s regulations as part of its already rapid-fire reporting.
The software also produces a series of flags that indicate possible purchase or development hindrances like slope risk, erosion issues, wetland proximity or whether a permit has been pulled on it.
Agents who work with investors will find Everyhome a powerful tool for unearthing hidden opportunities for clients.
There’s a sharp map-enriched interface that presents a listed ranking of properties and uses color coding to illustrate investing viability.
Agents who work with investors will find Everyhome a powerful tool for unearthing hidden opportunities for clients.
However, Copley and his team of data super-geeks see it as a way for developers to work together with agents and city leaders to build communities that better serve their citizens.
Better data, better planning
Data is the true equalizer. Sometimes a street needs a mechanic more than it needs another sub shop. Or, maybe a few duplexes will improve the block more than a new bank.
Our country’s real estate history and money don’t often see it that way.
What would San Francisco look like today if 75 years ago we knew what every block needed to be comfortably self-sustaining?
And beyond that, how each block’s property assemblage linked with the next one could more organically serve the collective neighborhood? Then, the city?
These are big issues Everyhome is working hard to address. So far, it’s doing it in Seattle with plans to launch soon in San Francisco, Boston, Los Angeles, San Diego and Austin.
Like so many other big industries, real estate is creeping toward subservience to big data. And that’s not a bad thing.
Right, Hal?
Have a technology product you would like to discuss? Email Craig Rowe.
