CoreLogic is a data-focused platform that lets real estate professionals manage risk. Its unique product uses many data points to help you make smarter decisions when renting or loaning to third parties. Read on to learn more.
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The world runs on data, now more than ever before. One company at the forefront of collecting, aggregating, and analyzing data is CoreLogic. In fact, they’re one of the biggest property data companies in the industry.
You might be familiar with the company’s annual Home Price Insights Report or their listing platform for real estate agents, Matrix. CoreLogic’s real estate products work closely with real estate agents, brokers, appraisers, lenders, and credit risk managers.
In this in-depth review, we’ll look at how CoreLogic’s rental and analysis products, as we feel these portions are most relevant to our readers.
What Is CoreLogic?
CoreLogic does more than collect real estate data and insights. They specialize in collecting and analyzing data in many industries, but it all comes back to one thing: risk management.
Real estate agents, realtors, and brokers use Multiple Listing Service (MLS) data to handle real estate transactions. Still, CoreLogic uses it for a different purpose: Managing the risk of lending to homeowners.
Based in Irvine, California, and publicly traded (ticker CLGX), the company started in 1991 and has changed a lot since then. They collect their data from a massive variety of sources, including the MLS, public data, private sources, and property records.
They hold onto data as long as 50 years to develop accurate and in-depth reports. These reports and analytics help credit risk managers, underwriters, appraisers, and loan servicers make the most financially beneficial decisions for their organizations.
What does the CoreLogic Real Estate Solutions arm collect data on in the real estate industry? A better question might be, “What don’t they collect data on?”
- Consumer credit
- Property information
- Hazard risk by region
- Performance indications
- United States housing market
- Canadian housing market
- Home prices
- MLS data
They collect data on the United States and Canada. CoreLogic releases annual reports on a wide variety of topics like mortgage information and statistics, home equity averages, home price insights, mortgage, finance information, and more.
CoreLogic’s Best Features
CoreLogic has special products and platforms specifically for real estate agents and realtors. They are:
- Matrix 360
- Alliance Network
- CoreLogic Payments
- National Hazard Risk Data
We’ll take a brief look at each of these products and their functions.
Matrix, the predecessor to Matrix 360, is a listing and public records platform that agents can use to access real-time, accurate information on properties and transactions. Matrix 360 includes more data from Realist Property Data and a more straightforward interface.
Using CoreLogic’s newest offerings for realtors and agents, you will have access to:
- Aggregated Documents. All records in one place
- Single Search. Public records and property data appear in the same search
- Search Results Power Grid. See public and property data side-by-side
- Powerhouse Display. View a 360-degree property view
- Power Printing. Print off any result stamped with your brand
- Map It. View accurate, detailed maps of any location
- Searches Remembered. Keep data on your past searches
- Farming Made Simple. Draw the region you want to farm and win prospects easier
- Mobile Search. Access all the data on your smartphone
- Client Portal. Give your clients access to in-depth information they can’t get elsewhere
This product can help realtors and agents hold onto clients and keep them engaged by staying in touch over time. It’s a monthly drip email campaign that allows clients to stay in the know.
Neighborhood information, home value changes, new houses for sale, and sold in the neighborhood. More are part of this monthly email report.
This can be an excellent offering in the days of Zillow and Trulia when many clients are taking it upon themselves to seek out the neighborhood and home value information.
With ePropertyWatch, you can be the market expert they trust. Every email you send through this service will be branded with your name to make sure your clients know who’s providing useful information.
The Alliance Network is CoreLogic’s way of connecting agents to third-party property technology companies that are trustworthy and well-integrated with popular platforms. What good is a showing service you can’t connect to your CRM?
You can find technology products like any of the following through the Alliance Network:
- Voiceter Pro
- INRIX Drive Time
- Prospects CRM
- Property Panorama
Make renting and managing tenants much easier with the CoreLogic MyRental platform. From screening potential tenants and managing tenant applications to full reports and TenantScore, you can track every step of the process.
Make sure you’re welcoming high-quality tenants you can trust – or help your clients choose the best tenant for their property. There is no fee to sign up and no order minimums to meet.
You can purchase anything from a single, one-time tenant report to multi-part packages. TenantScore is probably the coolest feature in MyRental, and you can undoubtedly get a lot of use out of it.
It’s a numerical score that uses a wide range of factors to determine which tenant is likely to:
- Pay monthly rent on time
- Respect and care for the property
- Rent the unit for a more extended period
You can even compare tenants to each other to find the best candidate during your search.
With MyRental, you have a great way to find the best tenant, but the majority of managing a rental is what comes after that step! That’s what CoreLogic Payments is for. It enables you to take rent payments from tenants in a simple, secure platform online.
That means you get paid on-time every month, and there’s always a digital record of each transaction. What’s interesting about this platform? We like that you have the option to help tenants build credit by reporting their rent payment to all 3 credit bureaus.
The tenants who will be interested in building credit through paying rent are more likely to pay on time and carefully manage their finances.
It’s the law in California, but you can offer natural hazard disclosure reports to any client with DisclosureSave.
Using data CoreLogic has collected over the past 50 years, you can help set a client at ease with information depicting any natural disaster or hazard that has affected their area over time.
Natural Hazard Risk Data
The same data provided by DisclosureSave can also be applicable for investors and any new homeowner. Provide the hazard data in a simple, easy-to-understand report that shows cutting edge data and statistics on natural hazards in a specific region.
Helps you answer 3 questions about any property for all-around peace of mind:
- What could happen? Answered with RiskMeter
- What would the result be? Answered with Catastrophe Risk
- What actually happened? Answered with Weather Verification
CoreLogic Plans and Pricing
Not all of CoreLogic’s products and platforms have pricing information available without engaging in a demo. Below is the pricing information we could find:
Any plan you select comes with a free trial of unspecified length. The website says, “Try it for free! We won’t ask for your credit card until you’ve had a chance to see if ePropertyWatch works for you. Then we’ll bill you monthly.”
This plan comes in two varieties:
- Single Agent — $29.95/month allows you to host up to 2,500 clients, act as the sponsor, and import clients.
- Agent Team — $49.95/month allows you to enroll 5,000 clients, have a website widget to capture seller leads, and create a social media marketing page.
MyRental Pricing comes in a few varieties, as listed below:
- Individual — Credit reports cost $14.99, eviction reports are $7.99, multi-state criminal reports cost $19.99, state-wide criminal reports are $9.99, and country criminal reports cost $14.99.
- Basic — $19.99/applicant (with no required credit check) gives you access to eviction, previous address, terrorist alert, multi-state criminal and sex offender data.
- Premium — $29.99/applicant (background check required) includes everything from the Basic report and adds credit reports, a Renter Pay option, and Tenant Score.
- Premium Plus — $34.99/applicant includes everything in the Premium report plus and adds the Compare Score by Location and Landlord Acceptance Rate features.
Pros and Cons
As with any good review, it’s important to highlight both the pros and the cons. But don’t worry — we’ve done just that below.
Pros (what we like)
- A lot of data that goes back 50 years – that makes it more accurate and reliable
- Several products and platforms for different parts of real estate processes
- Helpful services for agents and their clients, including client portals
- Fair pricing on the products and platforms that show cost online
Cons (what can be improved)
- A lot of negative reviews, especially regarding CoreLogic appraisals
- Website can be unclear and a little wordy
- Signup options are not obvious for every product/platform; some require scheduling a demo
Looking for an alternative to CoreLogic? Here are two of their top competitors in the real estate and property data space.
- Black Knight — MLS data, homeowner data, mortgage data, public records, and more. However, it doesn’t offer appraisals, payments, or rental management.
- Altisource — MLS, homeowner and property data, mortgage data, public records, insurance services, foreclosure services, risk management, rental data, and management. However, it doesn’t offer atural hazard data and property watch/client portals.
CoreLogic is a leader in their industry, and there’s a clear reason why. Their products allow lenders and landlords to make decisions with their super-comprehensive databases. Because of this, they’re a clear choice for those seeking to mitigate risk.
User Review( vote)
For real estate brokerages, agents, realtors, appraisers, underwriters, and technology providers, there are a lot of great real estate tools and products available through CoreLogic. The company seems trustworthy, and we like that some of their reports, products, and platforms are already familiar.
However, a simple search for CoreLogic reviews revealed some deeply concerning statements from people who have used CoreLogic in the past. The average star rating for CoreLogic on Yelp was just one star.
With that being said, we did not find any specific user reviews that talked about products or platforms like MyRental or ePropertyWatch. Most were upset about appraisals they felt came in too low.
We really liked the idea of a payment portal that homeowners and landlords can use to take payments from tenants securely. The ability to automatically send email drip campaigns to past clients is an excellent way to stay top of mind and get repeat business.
Should You Use CoreLogic?
If you’re considering CoreLogic, you’re likely seeking to minimize risk. While this is not an insurance product, a good deal of risk involved lending or renting to someone with a good financial and civil profile.
Fortuantely, the CoreLogic platform uses automation to help streamline this platform. Overall, their family of products seems like the right choice for real estate professionals who want to expand their offerings and provide more value to clients.
Have you used CoreLogic? If so, let us know about your experience in the comments below!