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IntelliReal receives weekly updates of public data for more than 90 million residential properties, which represents 95% of U.S. residences. But public data are generally available to all AVM and analytics companies. What makes IntelliReal’s public data innovative is that we get more out of the data than others. We perform extensive quality control (QC) on all data upon receipt – including address verification, address correction, and reasonableness tests of data elements. We also integrate data from disparate sources (e.g., recorder data and census data) and calculate additional statistics and trends. This attention to data quality is one of the reasons we enjoy such high hit-rates and accuracy. While public data are important, they can be weeks or even months old when first made available. So, IntelliReal supplements its public data sources with MLS data where it has authorized access. MLS listings are received daily so that our models reflect rapidly changing markets. Without MLS, you are behind the curve. Particularly in today’s volatile markets, the public data time lag handicaps those AVM providers without MLS data. In addition to the timeliness advantage, MLS data provide IntelliReal with the ability to report valuable insight into localized markets and allows for key market vital signs to be calculated such as inventory average days on market and the spread between list and sale prices.
