See your neighbors’ political leanings on the new real estate platform Oyssey
A new real estate platform lets buyers see the political affiliations of their future neighbors and how many dogs may be living on their block.
Why it matters: Tech startup Oyssey believes social data – like age, education and income demographics – is influencing buyers more than the physical conditions of a home.
Driving the news: Oyssey is soft launching in South Florida and New York City this month. The company developed a website that lets buyers search for homes as well as a tool that streamlines contract negotiations.
- It’s an attempt to simplify how buyers work with real estate agents following a big shakeup in the industry.
Catch up quick: The recent settlement of a class action lawsuit against the National Association of Realtors means buyers are now required to sign contracts with agents to tour homes and negotiate commission payments.
How it works: Homebuyers can use Oyssey for free after receiving an invitation from their agent. (Oyssey markets a monthly subscription service to agents and brokers.)
- You sign a digital contract with an agent, and can then surf local listings.
- Communication with your agent takes place on the platform, and important documents are stored there too.
Homebuyers can view block-by-block consumer and political data – pulled from election results, campaign contributions and licensable commercial data – alongside average housing trends.
What they’re saying: CEO Huw Nierenberg tells Axios it’s a win-win for buyers and agents: Buyers can access “never before available” data and agents can negotiate higher commissions.
- A former Boston real estate agent, Nierenberg says that during the course of a house tour, buyers often shift from asking whether the water heater is leaking to wondering if their neighbors are folks they’d like to invite to dinner some day.
- “It’s about getting buyers homes that they love.”
