G73 Prevails Over Other Location Intelligence Vendors in Capabilities Trial
About HouseCanary
HouseCanary is a nationwide brokerage and leading provider of real estate analytics, home valuation tools, and integrated customer engagement platforms. Major financial institutions, collateral investors, mortgage investors, and private lenders trust House Canary services to power critical real estate business decisions.
The Challenge
Companies like HouseCanary that produce real estate valuations and appraisals begin their analytic workflow with an address. Every one of these addresses must be recognized in every possible permutation.
A small percentage of complex and/or bad addresses are unverified as they lack a stable, recognized property address and geolocation identification. Multi-dwelling unit properties are among the most complex unverified addresses to resolve due to the need to recognize both the primary (property) and secondary (unit address).
While percentages are small in high-performing analytic organizations like HouseCanary, the unverified still represent millions of records. These unverified records result in lost revenue-generating opportunities, customer dissatisfaction, and expensive customer support.
The Solution
After conducting a controlled data trial including the leading location intelligence vendors, HouseCanary selected G73 Data Solutions, a leading provider of location data for Proptech companies, for a long-term partnership to address its address recognition needs.
HouseCanary’s choice was based on G73’s ability to deliver the best match response, eliminate duplication, and accelerate the time to value without a heavy engineering effort or long data integration projects.
G73 demonstrated the ability to produce a meaningful incremental lift in address matching verification and significant incremental lift in geo-precision accuracy at the building structure (“rooftop”) and parcel centroid levels.
G73 achieves these results with its Spatial Reference Framework (SRF).
The platform allows G73 to offer:
- The most comprehensive encyclopedia of spatially located U.S. Addresses used for reference and actionable insight. The database leverages over 20-year dedicated focus on curating high-integrity, multi-source geospatial data assets.
- Proprietary confidence scores that provide intelligence to differentiate address and geo-precision and support requirements across multiple research and operational use cases.
- The ability to surface unverified addresses that were previously unknown and continually enable a more complete address universe.
- The only platform offering standardization of primary with secondary addresses in multi-dwelling unit apartments (apartment, condo, and co-op).
- Access to G73’s Data Network with address recognition and geocodes at its core. Persistent ID links property-centric data with embedded engineering to resolve the complex many-to-many relationships that exist among address, parcel, public records data, and hyper-local demographic data.
Commenting on the trial results and selection, Chris Tackett, Vice President, Data Products and Solutions at G73 said:
“Continual improvements in accuracy and precision of our data products are central to G73’s strategy as a market leader in Location Intelligence. We are excited to partner with Proptech companies like HouseCanary to ensure their solutions deliver extreme value to their customers.”
The Benefits
Among the benefits HouseCanary will realize from the partnership include:
- Greater property address coverage.
- Improved structure level (“rooftop”) geo-precision of addressable properties.
- Reduced demands on the data engineering team.
- Fewer customer support tickets.
- Additional insights into the confidence of physical addresses with persistent address key across vintages, generating more Automated Valuation Model (AVM) and analytic products with greater efficiency.
- Flexibility to leverage G73’s integrated Data Network. Persistent ID provides a “golden key” that links critical property data assets (i.e., detailed property attributes, transactions, listings, and partial shapes) with precision and accuracy while reducing engineering effort.
Chris Stroud, Co-Founder and Chief of Research at HouseCanary commented: “We’ve made a real investment in data that allows us to deliver value to our clients. G73 Data Solutions is a critical part of that solution.”