This morning, our team at Markerr announced the launch of RealRent Comps, our newest product delivering critical rent insight for owners and operators of Multifamily and Single Family Rentals. Clients use our product to rank market performance, underwrite new properties, benchmark the performance of existing assets and price renewals and new leases. Our launch arrives at an important time in the industry with the ongoing uncertainty surrounding revenue management and antitrust concerns. Owners and operators, en masse, are migrating away from privately shared competitive rent data towards publicly aggregated sources. With RealRent Comps, Markerr clients can now access the largest, most granular source of rent data in the industry. In addition to having a census view of real-time rents in every market, our product offers substantially longer history than other sources as well as floor-plan-level granularity into pricing, term, concessions, amenities and other important attributes. RealRent Comps also enriches our broader product portfolio which covers every SFR and Multifamily property in the country as well as submarket-level demand and supply indicators. We began collecting this data simply because we thought this approach – publicly aggregating listings for all apartments / homes for rent – would result in the best possible view of rent. Our approach has resulted in a sample size anywhere from 2-4x the coverage of other vendors. Recent uncertainty has yielded another benefit of our approach for clients – the ability to mitigate risk related to the use of confidential data obtained through “give and get” models. The best evidence of the value of this product, however, is provided by our clients and prospects which have been actively leveraging or evaluating RealRent Comps over the last several months: +Roughly half of the Top 25 Multifamily owners are actively using or evaluating RealRent Comps. +Two of the five largest SFR owners actively use RealRent Comps to drive decision-making. +Three enterprise Proptech companies are actively using or evaluating RealRent Comps. +In testing our coverage relative to owner/operator comp sets, RealRent Comps regularly achieves high 95-99% coverage, materially higher than other sources. +One large Multifamily owner recently commented that our rent data was “the best we've seen” following a competitive bake off. We are tremendously excited about the feedback to date - congrats to our product, data science and engineering teams for shipping this product and thanks to our clients for their valuable input and continued support.
We're excited to launch RealRent Comps, providing Markerr clients access to the most comprehensive database of publicly aggregated, real-time rental comparables, covering over 28 million units. • Unlock machine learning analytics fueled by metadata • Access comprehensive, daily rents at the floor plan level • Seamlessly integrate with your existing workflows According to Charlie Garner, Principal at Fulton Peak Capital LLC: “Implementing Markerr’s data has allowed us to build out proprietary analytics and insight to make data-driven decisions at granular levels.” Read the full release: https://shorturl.at/wrea7 Learn more on our website: https://shorturl.at/NdQsY
David Delich
6mo
Very cool, and it's exciting to see additional competition in this space.
I have watched this happen, I got lucky ending up in the company with the most innovative outstanding data! Go Markerr!
Rob Barber
6mo
Congratus Brian Lichtenberger
Jen Luzzo
6mo
Well done!
Banker and Board Member, Asta Funding, Inc.
6moCongratulations on this groundbreaking announcement that can give real estate investors and others in the real estate business invaluable information.