Auction.com has been recognized by HousingWire Magazine as one of the U.S. housing industry’s top technology innovators for the second year in a row. In addition to appearing alongside other industry leaders such as Accenture, CoreLogic, RealtyTrac and Zillow on the 2015 HW TECH100™, a list of the housing economy’s 100 most innovative technology companies, Auction.com also won one of six special categories added to the program this year: Market Potential.
Internet use has soared in recent years among people looking to buy residential and commercial properties. Popular websites such as Zillow, Trulia and Realtor.com are visited by tens of millions of people each month. Auction.com, which sold more than 50,000 properties in 2014, has leveraged internet technology, and made it possible for buyers and sellers around the world to more easily conduct real estate transactions.
“Technology continues to be a significant driver in providing today’s real estate buyers and sellers with the type of experience they want – one in which transactions are easier, more efficient and more transparent,” said Auction.com CEO and Co-founder Jeff Frieden. “This has been our mission from the beginning, and so we are honored that HousingWire has once again recognized our potential to positively impact the market.”
Following a $50 million investment by Google Capital in March 2014, Auction.com began ramping up its development of mobile offerings to meet the needs of an audience that is increasingly on the go, leading to recognition by AlwaysOn as an OnMobile Top 100 winner for 2014. The company released an iPad app in the second quarter of 2014 that grew quickly in popularity, followed by an iPhone bidding app in late 2014 to further extend its reach among users of the platform.
Investors have also benefited from Auction.com’s technological innovation with the launch of the Auction.com Real Estate Nowcast. Building upon the work of Google Chief Economist Hal Varian, the Nowcast model combines industry data, proprietary company transactional data and real-time Google Trends data to predict market activity weeks before the findings of other benchmark studies are released.
“Technology is changing both the mortgage and real estate industries in tangible and positive ways,” noted HousingWire Publisher and CEO Paul Jackson. “The honorees that are part of the 2015 HW TECH100™ are shaping this revolution, helping forge the future of an industry that drives the U.S. economic engine.”
Source: Press Release