To underscore a shift in direction that has resulted in a rapid penetration of the U.S. multifamily market, the industry’s leading platform for capturing, processing and analyzing multifamily transactional data has changed its name from ResiModel to redIQ, meaning “Real Estate Data Intelligence.”
As part of this rebranding effort, the company has launched a new company website, and introduced an updated corporate identity.
RedIQ will provide a comprehensive platform for sharing and managing property-operating data with multiple parties. The smart capture system grabs data from PDFs, Excels, and more, eliminating the need for manual data entry. The data is converted into a standardized format matching the company’s internal chart of accounts, making it easy to analyze and identify trends. The service takes disparate data and allows clients to visually analyze data and performance information into a dynamic, consumable format.
The new redIQ service will serve as a central hub for real estate professionals, ranging the spectrum of brokers, investors, appraisers, and property management professionals. A faster turnaround and lower costs helps redIQ users make smarter business decisions while improving their bottom line.
As ResiModel, the company served leaders in the multifamily industry, from brokerages like CBRE and Marcus & Millichap to investors like Berkshire Property Advisors and Starwood. More than 6,000 multifamily transactions have been entered into the platform.
“There are many aspects of real estate that are ripe for technological revolution, and the feedback we’ve received from our clients, who evaluate multifamily properties on a daily basis, is invaluable in terms of assuring that our focus is entirely aligned with the needs of the industry,” Vermes said. “With a name that better reflects our platform’s unique ability to convert numbers into intelligence, redIQ is positioned to tap into the growing demand for technology solutions that empower real estate professionals to make better decisions.”