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PropStream Announcement
Nov 08, 2024 • PropStream

The Future of PropStream Part 1: PropStream Intelligence™ Is HERE!

It’s no secret that PropStream has been a trailblazer within the real estate data industry for over a decade. And today, we’re proud to announce our latest enhancement:

PropStream Intelligence™!

What Is PropStream Intelligence™?

Powered by AI data and predictive analytics, PropStream Intelligence™ is a real estate professional’s ultimate partner in finding the best leads and leveraging AI and machine learning-powered datasets. 

This new software release empowers you to:

Find the BEST Leads Every Time

Find lists ANYWHERE and save time researching lead potential. Remove the guesswork and ensure you find the best leads, every time. 

Be the First in Line to Pitch to Leads

Make decisions before your competitors can even say “PropStream It!” PropStream Intelligence allows you to access data quicker than ever before, leaving you first in line to pitch to your ideal leads.

Refine Searches and Niche Down More Efficiently

Refine your searches to an incredibly specific niche, allowing you to identify your own specialty within your industry.

Look for the PropStream Intelligence Icon—Screenshot 2024-11-07 at 10.53.21 AM— within the software to know you’re working with data curated by AI to gain more leads and refine your search process.

Try PropStream Intelligence for 7 Days—FREE

PropStream Intelligence—What Exactly Does It Bring To PropStream’s Platform?

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Let’s look at specific new datasets and tools PropStream Intelligence brings to the platform, as well as where you can find them:

New PropStream Intelligence-Powered Data

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Along with quicker and more accurate data powered by AI, each property (where available) will have a “PropStream Intelligence” tab with these datasets:

Property Condition Analysis

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Property Condition is calculated using an AI algorithm that analyzes MLS photo data to estimate the overall quality of the property and its specific features (Exterior, Interior, Kitchen, Bathroom). The grading scale ranges from Disrepair (the lowest quality grade) to Luxury (the highest quality grade).

These are the same scale ranges used by Fannie Mae’s Appraisal characteristics. Our property condition analysis is 99% accurate, and our available scores for properties nationwide will continue to grow each month.

Foreclosure Factor

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Foreclosure Factor utilizes a variety of data and AI-powered algorithms to determine propensity scores for individual properties where mortgages exist to predict a property’s likelihood of going into default.

The grading scale ranges from Very Low to Very High (on a scale from 1-100); the higher the score, the more likely the property will default within the next 12 months using various non-personal factors, including tax information, income sources, home values, loan structure, and homeowner behavior.

Estimated Wholesale Value

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Our new Estimated Wholesale Value calculation is based on our AVM machine-learning algorithm.

It provides a fast and practical estimate for property pricing (at 70% of the AI-calculated estimated value), making it a game-changer for helping wholesalers ensure they get a significant return from each deal.

Our New Upside Down Lead List

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Subscribe to our newsletter to stay in the loop as we share more about this new Lead List and why it’s beneficial for real estate pros!

The Upside Down Lead List (bringing our Lead List count to 20) identifies properties with negative equity.

Upside-down equity data is crucial for users because it helps them identify additional selling motivation by understanding negative equity.

Easily Search PropStream Intelligence Datasets in the Filter Menu

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In addition to having intelligent data displayed directly within each property card, you can search for specific parameters within PropStream Intelligence’s datasets in the search menu.

Customize Your Search for Specific Property Conditions

Are you a landlord specializing in luxury real estate? Or, maybe a flipper on the hunt for your next distressed property to renovate?

Your needs as a real estate professional are unique, which is why we make searching for your ideal property leads customizable. 

Search by Overall Property Condition (Disrepair, Poor, Average, Good, Excellent, or Luxury) or use these same parameters for specific property features (Bathroom, Kitchen, Interior, or Exterior).

Choose a Specific Foreclosure Factor Range

In addition to customizing your preferences regarding property condition in the filter menu, you can also choose a range for a property’s likelihood of facing foreclosure (e.g., Very Low, Low, Medium Low, Medium High, High, Or Very High).

 Example #1: Say you’re a wholesaler looking for a contract to assign to a flipper within your network. You may choose to make your minimum parameter “Medium High” and your maximum “Very High” to find a range of leads with the highest foreclosure risk.

 Example #2: On the other hand, you may be a lender in search of borrowers ready to take on a new mortgage with a history of paying their mortgage on time. In this case, you may choose a Foreclose Factor range of “Very Low” to “Low.”

How PropStream Intelligence Can Enhance Your Business as a Real Estate Professional

These dynamic, intelligent datasets aren’t just beneficial for investors. Real estate professionals of all types can use them to find the best opportunities in the least time. Here’s how:

Important Note: PropStream Intelligence will display conditions for properties that have been listed. Users will still want to utilize additional filters in their searches regarding the status of the property (e.g., on or off-market).

Property Condition Use Cases

Wholesalers

Wholesalers can conveniently assess property conditions from their computers. This allows them to expand their market and run comparables more effectively, ensuring their leads offer a significant profit margin.

If buyers within their network prefer a specific condition, they can honor these preferences with PropStream Intelligence’s new dataset.

Flippers

Flippers can use PropStream Intelligence data to find properties with lower condition scores, which indicate they need work.

When it comes to reselling the finished flip, PropStream Intelligence Property Condition data is helpful for running comps and determining a more accurate ARV (after-repair value).

Buy-and-Hold Investors

This new dataset can help landlords identify properties with higher condition scores, ideal for investors seeking rental properties that require minimal work. 

Alternatively, it can be used to compare properties with similar characteristics for more accurate comps.

Agents/Brokers

Property condition assessments help determine whether a property is "ready to list" or requires further renovations, allowing them to advise clients effectively.

It might also be used in comping to help evaluate the listing price against other properties in the area.

Lenders & Appraisers

Lenders and appraisers can perform property condition analyses for quick property assessments prior to any in-person verification.

Lenders could also use the property condition to pitch renovation loans to homeowners through targeted marketing campaigns.

Contractors

By selecting custom home features that need renovations (e.g., bathrooms, and kitchens), contractors can identify homeowners who may need their services.

Foreclosure Factor Use Cases

Wholesalers

By accessing Foreclosure Factor data, wholesalers can potentially find homeowners facing foreclosure and assign their property’s contract before they reach foreclosure. 

Flippers

The Foreclosure Factor data can also help flippers find property deals to ensure a higher profit margin. 

Buy-and-Hold Investors

Landlords open to renovations can benefit from Foreclosure Factor data, using it to find potentially discounted, off-market properties with a high likelihood of foreclosure.

This data offers valuable leads for landlords looking to acquire affordable rental properties.


Agents/Brokers

Foreclosure Factor helps agents and brokers identify opportunities to assist homeowners before they default on a loan. 

Lenders & Appraisers

Lenders can also identify homeowners at moderate risk of foreclosure to offer new mortgages or lending rates—allowing them to find borrowers with the highest likelihood of making on-time mortgage payments.

Contractors

Using Foreclosure Factor data, contractors can stay on top of properties that may soon be bought by investors.

When the investor purchases a property before or during foreclosure, they may need to perform significant renovations before they can turn a profit on it. In this case, you may be able to help them renovate.

See PropStream Intelligence in Action—Activate Your 7-Day Free Trial!

At PropStream, we’re committed to being the most effective, user-friendly tool in real estate. We help professionals streamline lead generation and find top opportunities quickly.

With PropStream Intelligence, we're taking it further—offering AI-powered data on property conditions and propensity for foreclosure, adding a whole new layer to your search.

See why real estate pros are excited! Log in or start your 7-day free trial today.

Try PropStream Intelligence for 7 Days—FREE

Frequently Asked Questions (FAQs)

How will PropStream Intelligence calculate the property condition if there are no property photos?

If no photos are available, there will be no score (or N/A). There may not be scores for every property.

However, this data will continue increasing as we add more properties and photos, where approximately half a million property photos are uploaded and reviewed every month.

I don’t understand what the term “AI” means for real estate data. Can you offer a simplified explanation?

AI, or artificial intelligence, is basically a smart tool that can learn from data and make helpful predictions. In real estate, it analyzes things like property prices, market trends, and selling probabilities to give us insights. 

For example, it can help suggest properties that might be likely to foreclose or the condition of the property. It’s all about using data to make better, more informed decisions.

Will I see PropStream Intelligence data for every property within PropStream?

Right now, our data is still learning and growing, so our coverage is currently expanding. PropStream Intelligence data will show up on the property card when it is available.

For example, the Foreclosure Factor has a coverage of 67 million properties, and Property Conditions analyzes, on average, half a million properties every month.

How is the Foreclosure Factor calculated?

The propensity model uses thousands of non-personal factors, including tax information, income sources, home values, loan structure, and homeowner behavior.

What is the accuracy of the Foreclosure Factor?

The model can identify 95.5% of the properties that would go into foreclosure status (Notice of Default or Lis Pendens) within the next 12 months by focusing on scores that are 80 and higher.

This same group is also 3.2 times more likely to go into foreclosure status than a randomly selected property.

How are Property Conditions calculated and what is its accuracy?

The scoring methodology uses photo AI and is based on Fannie Mae’s Appraisal characteristics with a 99% accuracy rate on the analysis of photos.

Real estate professionals who use this when preparing their AVMs see up to an 18% decrease in mean absolute error rates.

Can I export this data?

Yes, this data is available for export via the “My Properties” page and can be managed through the gear icon under "Calculations." 

Can I add them to my summary filters?

Yes, when you manage your summary tiles through your “My Properties” page, click the pencil icon and select the data from the “Intelligence” category, and from Lead Lists, select “Upside Down.”

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Published by PropStream November 8, 2024
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