The rebranding and strategic alliance with Black Knight reflects the data analytics and marketing firm’s ability to identify not only buyers but also sellers.
Underscoring the company’s ability to identify not just homebuyers but also potential sellers, data analytics and marketing company Buyside has rebranded Percy and expanded into mortgage lending – bolstered by new funding by $10 million in equity from backers including Howard Hanna Real Estate Services and the World’s Leading Real Estate Companies.
Although Brentwood, Tennessee-based Percy announced its rebranding last week, the company’s mortgage customers already include Cornerstone Home Lending, Hunt Mortgage, Priority Home Lending and HomeServices of America subsidiary Prosperity Home. Mortgage.
Now, Percy has also entered into a strategic alliance with real estate, data and analytics software provider Black Knight Inc., allowing Black Knight to offer a new customer engagement solution powered by machine learning, to monitor behavior “signals” from owners, the companies announced on Tuesday.
Launched to help brokers match buyers to listings, Buyside “has evolved into an ecosystem that spans mortgages as well as real estate, on both the buy and sell side of the real estate equation,” said the Percy founder and CEO Charles Williams in a statement. “Today, Percy analyzes billions of pre-purchase and pre-sale signals in real estate consumer behavior to give loan officers, real estate agents and brokers actionable insights.”
Black Knight is the target of a $13.1 billion takeover bid by Intercontinental Exchange Inc. (ICE), which seeks to integrate solutions designed by the two companies to create a “lifetime” mortgage platform which will produce cost savings.
In making the case for the acquisition, which is expected to be reviewed by antitrust regulators, ICE executives said Black Knight offers real estate data capabilities that enable the search for homes that ICE lacks, as well as solutions for secondary market investors and loan servicers. ICE considers itself to have superior lead generation and closing and post-closing tools.
The strategic alliance with Percy – which claims to be “the leading real estate provider of homebuyer intent and seller leads” – expands Black Knight’s lead generation capabilities.
“The current housing market is characterized by record inventories and record property prices, which, combined with sharply rising rates, continue to put downward pressure on homebuyer loans,” Ben Graboske said. , president of data and analytics at Black Knight, in a statement. “As everyone in our industry knows, building inventory is key to reducing affordability pressures and keeping lender and realtor pipelines full. This strategic alliance with Percy will allow our clients to real estate and mortgages to use an AI-powered, big data-powered approach to intelligently engage with these customers, to grow business while generating inventory.
Prior to renaming itself Percy, Buyside had built a stable of real estate brokerage clients including Baird & Warner, RE/MAX Results, RE/MAX Reliance and Berkshire Hathaway HomeServices Fox & Roach.
That background helped Percy land HomeServices of America’s Prosperity Home Mortgage subsidiary as a customer, said Ron Wivagg, national sales manager for Prosperity Home Mortgage.
“With the success of Percy and its adoption by our real estate brands, it only made sense for PHM to leverage the same app for our loan officers,” Wivagg said in a statement. “We now have a technology ecosystem that serves both the real estate and mortgage businesses, which helps us maintain oversight of our clients’ transaction intent.”
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