Flipt Offers New Approach To Matching Shoppers To Properties

Posted by Patrick Barnard on May 05, 2014 No Comments
Categories : Residential Mortgage

Flipt, a provider of real estate technology solutions, recently launched a new online home shopping site that matches properties to buyers based on what the buyer plans to do with the property – ‘fix and flip,’ ‘buy and hold’ or ‘rent.’

Currently featuring hundreds of thousands of residential properties, the new site offers homebuyers and property investors key insights and scoring methodologies in order to match them with the ideal property to meet their unique needs.Â

According to the National Association of Realtors, 90% of homebuyers start their search online. What's more, according to Experian Marketing Services, more than 300 million people access real estate websites each month.

Flipt – which also comes in a mobile (iOS) version – reportedly goes beyond simple home listings by providing data-driven analysis so as to help investors and homebuyers make the best decisions. This includes Flipt Scores, a feature that grades a home's investment potential from 0-100. The complex algorithm, developed with machine-learning capabilities, interprets a mixture of publicly available and proprietary data to determine how a consumer can best profit from a specific property.

Flipt assesses three areas of real estate investment opportunities, including:

  • Fix & Flip: Predicting the short-term investment potential of a home. The score takes into account the location, foreclosure status, condition and age of the property to determine the potential return on investment of a quick turn-around project.
  • Buy & Hold: Calculating a property's potential appreciation value over an extended period of time, incorporating data on current residential home values and speed of appreciation for the area and type of home to provide the composite score.
  • Rent Out: Estimating rent and cash flow potential crossed with specific details on demographics, property location, and number of bedrooms to determine the home's rental potential.

‘Like the CarFax for real estate, FLIPT arms buyers and sellers with valuable analytics that can't be found on other real estate sites,’ says Andrey Nokhrin, CEO of Flipt, in a release. ‘As a young entrepreneur, I have experience on both sides of the picket fence – growing a real estate and property management company and purchasing my first home. FLIPT was inspired to help the millions of people like me, looking to make the soundest real estate decision for their financial futures.’

In addition to Flipt, the company also provides Flipt Pro, for real estate agents. The subscription-based site puts experienced local agents in direct contact with Flipt users when they are ready to take the next step in the purchase process. Combining the latest innovations in big data analytics and online marketing strategies, Flipt Pro was built with the belief that every realtor deserves an effective marketing platform that provides quality leads.

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