A recent settlement agreement coming out of the Federal Trade Commission and one data firm’s launch of a new division to focus on tax, deed and mortgage data licensing signal that a housing market data arms race is heating up.
RealtyTrac is pushing forward with what amounts to a two-pronged offensive.
This week the Federal Trade Commission offered a proposed settlement agreement in a competitor’s $661 million acquisition.
This settlement will offer RealtyTrac a competitive edge as the company strikes out to plant its flag in new territory.
The FTC’s proposed settlement order in CoreLogic’s (CLGX) bid for DataQuick Information Systems requires CoreLogic to license to RealtyTrac its national assessor and recorder bulk data as well as several ancillary data sets that DataQuick provides to its customers.
“Since this company was acquired two years ago by our parent company, we’ve been on a data focused tear,” Jamie Moyle, CEO at RealtyTrac, told HousingWire. “We’ve been data greedy. Our ongoing mission is to get more data to more people. And so this fits right into our ongoing goals.
“Obviously we want to service the same market DataQuick was servicing and compete heavily in there, with room for expansion in new and creative ways,” Moyle said. “This is obviously a big step for us. We have already been aggregating smaller amounts of this data, and the new agreement acts as a step function on our pre-existing roadmap.”
Within a day of the news of CoreLogic’s pending FTC approval for its acquisition, and its resultant effect on RealtyTrac, RealtyTrac announced it is rolling out a whole new division focused on tax, deed and mortgage data licensing.
RealtyTrac will be the first new entrant in the business in more than a decade.
“For nearly 20 years RealtyTrac has been a market leader in B2B and B2C applications for comprehensive real estate data, and we are excited to expand our data footprint and continue our mission of bringing more data to more people,” Moyle said. ”We are expanding the horizons in every direction when it comes to leveraging real estate data for personal, business and policy decision-making.”
RealtyTrac is a leading source for comprehensive housing data and analytics. CoreLogic is a leading property information, analytics and data-enabled services provider. DataQuick is a property data and analytics information company.
“The acquisition of MSB and DataQuick significantly expands our footprint in property and casualty insurance and adds additional scale to our existing property data and analytics business. The combination of MSB and our existing geo-spatial business capabilities and property-related data assets allows CoreLogic to provide our clients in the insurance industry with new and unique insights into underwriting property coverage as well as managing natural hazard risks and claims,” said Anand Nallathambi, president and CEO of CoreLogic.
“The combination of CoreLogic, MSB and DataQuick should yield significant future growth opportunities through the introduction of new products, data-enabled services and workflow tools which draw from a wide range of gold-standard data assets and analytical capabilities,” Nallathambi said.