About Real Matters
Real Matters is a real estate data firm that creates powerful insights into residential and commercial properties. Leveraging its cloud-based technology platform, redihive, the organization provides its customers with subject matter expertise gathered through partnerships with more than 28,000 field agents, comprised of Solidifi independent appraisers as well as iv3 insurance inspectors.
Expert Collections containing Real Matters
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Real Matters is included in 2 Expert Collections, including Real Estate Tech.
Real Estate Tech
Startups in the space cover the residential and commercial real estate space. Categories include buying, selling and investing in real estate (iBuyers, marketplaces, investment/crowdfunding platforms), and property management, insurance, mortgage, construction, and more.
Excludes US-based companies
Latest Real Matters News
Nov 20, 2023
News provided by Share this article Share toX The US real estate evaluation market has seen significant changes in recent years, as technology has become increasingly important in the appraisal process. Today, many appraisers obtain and assess property information using digital techniques such as aerial imagery, 3D modelling, and data analytics, allowing them to complete values more quickly and precisely. The US real estate appraisal market is expected to be worth US$9.27 billion in 2023, witnessing growth at a CAGR of 4.24%, over the projected period. Top Impacting Factors Driver: Technology Penetration in the Appraisal Industry The Digital AMC platform has the ability to leverage technology to automate processes and manage the network of field agents to improve quality. The technology (Solidifi) platform uses automated quality scoring technology, in addition to manual reviews, to reduce the number of touchpoints relative to traditional AMCs. Moreover, Solidifi has a unique appraiser scoring system which ranks appraisers on performance and quality metrics. This scoring becomes important to provide unbiased feedback to appraisers and to provide a transparent performance-based system for assigning future appraisal assignments. Better performance is rewarded with more work. Thus, such platform motivates the appraisers to deliver high standard and authenticated appraisals. Challenge: Restricted Demand for Appraisers Based on the Region Appraisers works in a very defined location and geography mainly due to types of logistics involved in the essential part of appraisal report generation process (usually due to difference in state licensing requirements and requires a good level of knowledge with respect to the regional dynamics of a specific real estate market). Thus, the demand for appraisal is very regional by nature. Now, the part of the US which is having shortage of appraisers effects significantly on the appraiser's fees compared to part where there is oversupply. Mostly, appraisals cost US$400-600 and take about three-seven days for inspection of the house, though this may vary with different location and landscape. Also, appraiser supply can often be an issue in rural markets and in very active real estate markets. In a nutshell, demand of appraiser is directly proportional to the region. Trend: Improvement in Logistical Management of Appraisers Logistical management of appraisers is mainly handled by AMCs in the appraisal process, but certainly some are better than others and have invested heavily in solutions that improve the order management, appraisal scheduling, and route efficiency solutions. For example, Solidifi (The US Real Matters brand) has invested significantly to build out its capabilities in network management. Specifically, the company is able to monitor the efficiency of appraisers in real time (turnaround time and defect rates) and routes more work to highly rated appraisers depending on their current capacity. Besides Solidifi, LRES in this area (automatic assignment technology that identifies the best appraiser for a certain job) and ServiceLink's Exos business (has a comprehensive scheduling solution that connects appraisers with other parties involved in scheduling, including the homeowner). Thus, the improvement in logistical management of appraisers overall improve the appraisal process which in turn positively affect the industry. Market Dynamics Growth In Housing Market Automation of Data-Gathering Analysis of Key Players The US real estate appraisal market is is very fragmented. The market is likely to be led by large national firms, but there are also many smaller regional and local firms, as well as independent appraisers, that compete within specific markets or regions. Companies and appraisers need to have a strong reputation for accurate and reliable valuations, as well as a good understanding of the local real estate market and the ability to adapt to changing market conditions. Additionally, companies that can offer additional services, such as technology solutions or data and analytics, may have an advantage over competitors who only offer traditional appraisal services. The key players covered in the report include: Real Matters Inc.
Real Matters Frequently Asked Questions (FAQ)
Where is Real Matters's headquarters?
Real Matters's headquarters is located at 50 Minthorn Blvd, Markham.
What is Real Matters's latest funding round?
Real Matters's latest funding round is IPO.
How much did Real Matters raise?
Real Matters raised a total of $203.75M.
Who are the investors of Real Matters?
Investors of Real Matters include Wellington Financial, Urbana Corporation, Whitecap Venture Partners, BMO Capital, Kensington Capital Partners and 3 more.
Who are Real Matters's competitors?
Competitors of Real Matters include Reggora and 1 more.
Compare Real Matters to Competitors
Solidifi is a leading independent provider focused on valuation and closing services in the residential real estate mortgage industry. The company offers mortgage appraisal and title & settlement services, leveraging its proprietary technology and network management capabilities to create a competitive marketplace for independent professionals such as appraisers and notaries. Solidifi primarily serves the residential real estate mortgage industry. It was founded in 1997 and is based in Buffalo, New York.
Value Connect is the technology leader in automated appraisal quality control and compliance. Its platform enables lenders to make more money while reducing risk and improving employee workplace satisfaction.The company was founded in 2015 and is based in Guelph, Ontario.
Reggora provides an automated appraisal management platform for mortgage lenders and appraisers. It handles payment processing, appraisal scheduling, automated underwriting, appraisal delivery, status updates, and more. The company was founded in 2016 and is based in Boston, Massachusetts.
FNF Canada is a comprehensive and innovative provider of mortgage and loan related services, operating in the financial services industry. The company offers a range of services including title insurance, document processing, property tax management, and appraisal management, all aimed at facilitating various aspects of mortgage transactions. FNF Canada primarily serves financial institutions. It was founded in 2013 and is based in Mississauga, Ontario.
Nationwide Appraisal Services offers an appraisal management system that provides real estate valuation services.
FCT provides title insurance, residential and commercial real estate services, and debt recovery solutions. The company's products and services include residential and commercial title, insurance services, residential mortgage processing, valuation solutions for lenders, and default and recovery solutions. FCT was founded in 1991 and is based in Oakville, Ontario.