In what could be considered a no-brainer in terms of proptech partnerships, users of BHR’s extensive home intelligence reports will see their industry IQ jump a few points with the addition of Plunk’s AI-powered market analytics. The partnership was announced in a press release shared exclusively with Inman.
BHR’s RealReports are relatively new to the space but are extensive in how they break down what a person needs to understand about how a home interacts with its location. Plunk started as a better way to understand home repair costs and their subsequent ROI, a skill at which it still very much excels, but has tilted toward real-time, granular analytics about buying, selling, home construction and other influential industry fluctuations. It’s a tool for data hounds and agents seeking an advantage in knowing what’s next.
This is a smart move for BHR, as Plunk’s presence in the space has been widening, and its influence on BHR’s digestible breakdowns will help it in sales pitches and direct brokerage partnerships.
“In this current market, the more insight you have into a property, the more competitive you can be,” said James Rogers, co-founder and CEO of BHR in a statement. “Plunk’s real-time valuation and AI-powered remodel recommendations are a powerful layer of insight for agents using RealReports and their clients to drive more informed decision-making.“
The real estate market is in an active state of flux, with consumers being granted newfound negotiating leverage on how to pay for what agents provide, although the full impact of this ongoing market shift has yet to find footing. It will, though, and agents will need to prove why they’re worth what a listing or representation agreement states. Thus, being able to discuss trends and share hard data will be crucial to getting a signature.
This is where solutions that ingest market activity and pull from it actionable information can excel. While to some extent BHR already worked in this subset, more proptechs should pursue integrations with tools that enhance agents’ ability to demonstrate value.
Diana Zaya is a contributing writer for Inman. In a May 2023 piece, Zaya described the benefits of data storytelling, which she described as “the process of creating a narrative from complex datasets to communicate a specific message more effectively.“
Telling stories is, in many ways, a form of sales.
“Begin by developing a theory or posing a question,“ Zaya said. ”This typically begins with basic data analysis to identify an area where further investigation would be helpful. Having access to up-to-date and accurate data is helpful in posing the best questions, thereby resulting in the most accurate conclusions.“
The BHR and Plunk partnership will no doubt allow agents to weave better sales stories, and this is only the latest handshake Plunk has made in an effort to expand its reach. The firm has connected its API to a number of industry players, including Milestones, Xome, Union Street Media, Realforce and others, including Southern California’s The MLS.