Black Knight Inc. has entered a strategic alliance with data analytics and marketing company Percy (formerly known as Buyside), which collects and analyzes real estate consumer behavior using machine learning and artificial intelligence.
The alliance will allow Black Knight to offer clients an advanced consumer engagement solution fueled by billions of behavioral datapoints that helps real estate professionals and lenders cultivate deeper customer relationships. Using proprietary machine learning to monitor homeowner behavior “signals” through custom landing pages with engaging content – property valuations, local buyer demand and market activity, monthly email reports, listing activity on client websites – Percy helps identify the precise timing that a homeowner is likely to transact.
“Percy’s predecessor was launched to help brokerages match buyers to listings, but in the time since, it’s evolved into an ecosystem that spans mortgages as well as real estate, across both the buy and sell sides of the real estate equation,” says Charles Williams, Percy’s founder and CEO. “Today, Percy analyzes billions of pre-buying as well as pre-selling signals in real estate consumers’ behavior to empower loan officers, real estate agents and brokers with actionable intelligence.”
The application creates an engaging experience for home buyers and potential sellers through a personalized digest of insights related to their homes. Providing multiple valuation estimates to increase accuracy, timely and current home equity statements, refinance opportunities and more helps build trust and cultivate deeper, richer customer relationships.
“Today’s housing market is categorized by record-low inventory and record-high home prices, which – together with sharply rising rates – continue to put downward pressure on purchase lending,” states Ben Graboske, Black Knight Data & Analytics’ president. “As everyone in our industry is aware, generating inventory is key to lessening affordability pressures as well as keeping lender and real estate agent pipelines full. This strategic alliance with Percy will allow our clients across real estate and mortgage to use an AI-powered, big-data-fueled approach to intelligently engage with those customers, to build business while also generating inventory.”