RISMedia's Real Estate Magazine

JUL 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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24 July 2018 RISMedia's REAL ESTATE I t's becoming increasingly harder to engage with and convert online leads—especially with all the online resources and technology readily available to consumers. So, what catches the eye of buyers and sellers in today's tech-centric real estate industry? It's all about location, location, location. And that's where Local Logic comes in—a start-up that uses AI and machine learning to zone in on consumers' needs. Co-founded in 2014 by CEO Vincent-Charles Hodder and Chief Product Officer Gabriel Damant-Sirois, Lo- cal Logic is changing the way consumers approach real estate information by person- alizing their experience. "It was clear that location is a big factor in residential choice behavior, but that the data wasn't readily available to homebuyers and agents," says Damant-Sirois. "My co-founders and I gave ourselves the mission of making the data on cities more available and understand- able to help people make one of the most impor- tant decisions in their life." The company is helping consumers make more in- formed decisions via personalized insights, as well as keeping the agent in mind by shortening the time it typically takes to convert a lead—increasing conversion rates exponentially. "Local Logic increases traffic on site through SEO and good user experience," says Damant-Sirois. "Once peo- ple are on our clients' site, they convert more by 10 - 36 percent, which means, ultimately, more qualified leads. We can also provide much more detailed information about location directly to real estate professionals so that they can enhance their marketing tools and better prepare for visits." And the secret behind this highly efficient system? An abundance of localized information at consumers' fingertips. With Local Search and Local Maps, buyers can pinpoint listings according to the lifestyle catego- ries that matter the most to them, such as transporta- tion, access to services, character, etc. "The new generation of on-demand homebuyer is look- ing for solutions that allow them to personalize their pur- chasing experience. They're looking for properties that fit their lifestyle. And although home amenities are a big part of their decision, it's location that determines the type of lifestyle they will have," says Hodder. "Real estate professionals need to consider this when assisting a homebuyer. They need to understand the intricacies of a neighborhood to deliver the lifestyle their client is looking for." Damant-Sirois also believes that lo- cation can have an overall impact on nearly every segment of a consumer's lifestyle. Everything from their com- mute, nearby schools and how busy a street is will have an effect on their daily lives. "According to a Trulia survey, 84 percent of millennials are willing to forgo key home features to live in their ideal neighborhood. Homebuyers care about that more and more, and brokers and agents should pro- vide these solutions if they want to attract and engage with their potential clients," adds Damant-Sirois. The true success behind Local Logic, however, is the unique background that both Damant-Sirois and Hodder bring to the local market. As previous urban planners with experience in real estate development and residen- tial choice behavior, Local Logic's co-founders under- stand the importance of location in the home search and how it can make the process more efficient for both consumers and agents. "We wanted to simplify the multitude of elements that needed to be considered when analyzing a location, mak- ing it easier for homebuyers, investors and real estate professionals to compare different locations and match the right people with the right location," says Hodder. And, most importantly, Damant-Sirois and Hodder use their backgrounds to not only provide a value proposition Using Location to Attract, Engage and Convert More Online Leads Local Logic looks to transform the industry by personalizing the customer experience on real estate broker websites by Liz Dominguez

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