Technology

Now this is news: A local association jumps on the market data opportunity

Author
Brian Boero
No.
369
Date
06/02/09

10k Research officially launched today. The company is a for-profit entity set up by the Minneapolis Area Association of Realtors that slices, dices and visualizes MLS data into local market metrics suitable for consumer consumption. Their service is available to brokers, MLSs and associations across the country.
I wrote about their hometown market effort a few months ago and have kept in touch with the team since.
I love what they are doing.
Here’s why:
1. Real estate is in the midst of a credibility crisis. The best way to work out of it is to deliver consumers facts that help them make decisions. This fits the bill.
2. MLS organizations, brokers and associations sit on a treasure trove of data that has until this time been badly underutilized. This is an example of an association getting off the dime.
3. The MLS-based market metrics products currently on the market (e.g. Terradatum, Realty Market Update, Trendgraphix) are either geared toward business-to-business use or do a poor job visualizing data. These things need to be understood at-a-glance, USA Today-style. 10k moves in that direction.
Now here’s what I don’t like: All of this is PDF-based at this point. I want to see an API. Widgets. An email app. I hope that’s in the works.
Notwithstanding this not so insignificant gripe, this is a nice – and much needed – effort.