Smarter Agent has released a mobile real estate application that uses GPS location data to provide information about surrounding properties. There’s a demo here which shows what it can do…basically give you a list of houses for sale close to your physical location — there are advanced searches where you can restrict the price range, the distance from your phone and so on. There’s another service where you can see how much houses in your vincinity sold for, which is a great way to get an indication as to whether you should even bother to look in a particular location.
For me, the most interesting part of this service is the revenue stream (or one of them). The application lets you call an agent to book a time to view a house, and the real estate agent pays Smarter Agent for the lead. Apparently there are 40 million people looking for real estate every year in the US.
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