The local intelligence company’s latest tool automatically surfaces locations for homebuyers based on the homes they’re already scrolled, offering an alternative to traditional search tactics.
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Local Logic is rolling out NeighborhoodMatch, a new tool designed to help brokerages and their homebuyer clients quickly identify neighborhoods that match their lifestyle needs, according to an announcement Wednesday.
The new offering works behind the scenes to find undiscovered matches based on active search parameters, according to the announcement. As with other Local Logic products, the service hinges on software that can produce user-based reports and content while digesting volumes of geographically specific points of attraction, ranging from environmental data to retail amenities.
“For homeseekers, especially those relocating to new metro areas, finding the right neighborhood is as crucial as finding the right home,” said Vincent-Charles Hodder, Co-founder and CEO of Local Logic, in the press release. “NeighborhoodMatch is designed to simplify this process by helping users discover and compare neighborhoods that not only meet their lifestyle needs but are also within their budget.”
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Up to eight communities can be identified and scored by NeighborhoodMatch, offering price comparisons and other variables. Scores emerge as buyers and agents adjust the scope of the search, a departure from traditional “filter-based” approaches.
An Affordability Index based on 12 months of sales data accompanies the community report, offering “a feature that quickly informs homeseekers whether neighborhood home prices are comparably priced, more affordable, or less affordable than the neighborhood they’re viewing,” according to the announcement.
Local Logic has released several new products in the past year in an effort to attract agents who may be struggling to unearth new business in an otherwise challenging housing market. NeighborhoodMatch can be plugged into those recent releasees, such as NeighborhoodWrap or NeighborhoodIntel, or used by itself.
The former is delivered as a series of APIs (application programming interfaces) and SDKs (software development kits). The tools will allow marketers to enrich omni-channel marketing campaigns with tightly integrated local insights, the company’s primary value proposition. NeighborhoodIntel has been rolling out to more than 85,000 real estate agents since late January this year through integrations with BeachesMLS, MLSListings and REcolorado.
The company also integrates with other software providers, such as homegenius by Radian, and multiple listing services like CRMLS.
Local Logic secured $13 million in Series B funding in 2023, led by GroundBreak Ventures and Investissement Québec.
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