G73: RE/MAX Becomes More ‘Data Intelligent’

RE/MAX, long seen as a leader in the real estate industry, is taking bold steps once again as it introduces G73, a data organization that helps power RE/MAX tools and technology.

By harnessing the U.S. real estate industry’s fragmented data and ensuring it is cleaned, standardized, normalized and geocoded on the backend, G73 helps provide a more seamless user experience on the frontend – and positions RE/MAX and its affiliates to offer even more value in a fast-moving industry.

“Everyone loves to showcase technology, but it’s what’s behind the technology that is the real story – and that’s data,” RE/MAX CEO Adam Contos told attendees of the 2021 RE/MAX R4 Opening General Session. “Data is the oxygen that powers a lot of our successes in this industry.”

G73 empowers RE/MAX to be more data intelligent while providing a framework for current and future resource development. In short, it’s a tool that builds tools, according to Contos.

“With G73 in place and with our ventures and getting really good at data, [RE/MAX] can pivot, adapt, build and innovate quicker than ever before,” he said.

RE/MAX News sat down with two G73 leaders – Jerry Modes, RE/MAX Senior Vice President of Information Technology and senior executive of G73, and Dan Troup, who was with Seventy3 since 2018 and recently transitioned to the Gadberry Group sales team – to pull back the curtain and provide more information about this innovation and what it means for real estate, the RE/MAX network, and homebuyers and sellers in the U.S.

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What exactly is G73?

G73 is the data foundation for U.S. RE/MAX agents, brokers and other affiliates. The organization’s roots formed in 2018 as a way for RE/MAX to take control of its destiny with data. Today, it helps powers remax.com, the RE/MAX Search App, agent websites and more.

Two components comprise G73: Seventy3 and Gadberry Group. Can you tell us more about what each contributes to G73?

G73 is the marriage of Seventy3, which was founded in 2018, and Gadberry Group, which specializes in geospatial data science and was acquired by RE/MAX in 2020. Seventy3 – named for the year RE/MAX began – has agreements with more than 450 MLS organizations in the U.S. Gadberry Group – an encyclopedia of addresses, if you will – collects, curates and correlates address data in a way that provides even more detailed information about a property than what is typically available through an MLS. There’s so much potential with what RE/MAX can see now – we are able to run metrics on how many times a home flips in a marketplace or how many homes there are in a marketplace, for instance.

Seventy3 sounds fascinating. Can you explain more about it?

Seventy3 processes 11,000 new listings and 248,000 photos on average every day. Then there’s also the speed and scale in which we process the massive volume of inquiries to remax.com – over 4 million on average per day, while maintaining a tenth-of-a-second response time, which all adds up to a great consumer experience. Plus, RE/MAX is now able to get listings online in 7.5 minutes, on average. We have data on nearly every address in the U.S. That’s 175 million current addresses and 240 million total. We’re talking about homes that were razed to make way for the Dallas Cowboys stadium, but more importantly we’re talking about knowing the potential market value, number of beds and baths, square footage, taxes and more for all of these addresses.

What does all this mean for RE/MAX affiliates?

RE/MAX has a vast lake of data that we use to support RE/MAX affiliates. That’s the biggest benefit for agents: Knowing about property data and making it the best for each listing. Nearly a third of MLS submittals have incorrect addresses. It’s also exciting because this data G73 processes is a building block for developments in the future. We can use it to enhance or create products. We want to drive even more traffic to remax.com, already the No. 1 most visited real estate franchisor website as recently as 2020. This data helps search engines recognize that RE/MAX has the accurate address information and can result in higher search engine rankings. We are starting with a really good foundation.

But how does G73 positively impact the consumer experience too?

An elevated consumer experiences is one of the most valuable aspects of this. All this data helps a homebuyer or seller refine their search so they’re not wasting their time or energy. They’re seeing stuff that is applicable to them. For instance, as we clean up every address, we relate every correct location to schools, census data, dining, walkability and bikeability scores. It’s important it’s right so that all contextual data around it is right.

How does G73 help further position RE/MAX as a leader?

We have a data foundation but we also have actual RE/MAX agents with boots on the ground validating the data. In our minds, it kind of creates a superpower. RE/MAX is not relying on a third-party here – we now have the ability to pivot as quickly as we need and want. The team is set up in a way that we can build things quickly on top of that data. We can anticipate changes in neighborhoods or markets and respond.

Written by KATHARINE DAVIS