DALLAS, TX ( Marketwired) - HousingWire this week published its 2014 Tech100, the media company's annual look at the most innovative technology firms in the U.S. housing economy.
For the second straight year, Charleston-based BoomTown landed on the exclusive list.
"We're thrilled to make the list, HousingWire's compilation of the 100 most innovative technology companies, for the second year in a row," Lee Butler of BoomTown, says in a blog post.
She cites remarks from Jacob Gaffney, executive editor of HousingWire. "With more than 400 firms under consideration this year, selecting 100 was incredibly difficult - and making the cut should be considered a distinct honor. What really stands out to me is this: for the firms included in the 2014 HW Tech100, the average reported customer growth rate year-over-year was a whopping 359 percent. This tells me that innovation is really taking off when it comes to the future of the housing economy."
Butler says, "As we strive to constantly innovate to drive the future of the real estate industry, we're honored by the recognition and congratulate our fellow groundbreakers and trailblazers on the list!"
On its website, Boomtown says its high-tech platform can help real estate agencies "ignite" their sales by attracting Internet home buyers to the agency's IDX (Internet Data Exchange) website, satisfy buyers with an "amazing" experience, engage with home buyers "like never before," and measure results while maintaining accountability.
In its frequently asked questions section, BoomTown notes the company's CRM (customer relationship management) platform is "designed for brokers or team leaders who are focused on generating a high volume of leads while keeping total accountability over their agents and the leads assigned to them."
BoomTown says it typically can launch the platform for its customers in 30 days. The venture doesn't market exclusivity but "we do everything possible to ensure that all clients in a given market can receive enough leads to grow and sustain their team." It also doesn't guarantee leads. But "we can make a nationwide and local traffic estimate based on current BoomTown client lead generation performance." According to the tech company, "The conversion ratio of leads to closed deals varies from client to client. On average we see a 2-5 percent conversion rate."
The company says it can integrate Multiple Listing Service information from one IDX data feed. "If that data feed includes listings from multiple (MLS) boards, we can display all of those listings."
For more information, visit www.boomtownroi.com.
The full Housing Wire Tech100 list, featured in the March issue of HW Magazine, looks at technology companies that offer solutions focusing on one or more of the following industry sectors: residential mortgage lending, residential mortgage servicing, residential mortgage investments and/or residential real estate. Collectively, these four sectors represent the U.S. housing economy - a definition unique to HousingWire, and to the HW Tech100, the company says.
"Technology is accelerating change in nearly every industry, and the housing economy is no different," says Paul Jackson, publisher and chief executive at HousingWire. "In fact, the pace of disruption is so dramatically shifting the landscape for mortgages and housing that even selecting 100 firms proved extremely difficult."
The market for residential mortgages and housing represents roughly one-third of the entire U.S. economy each year, according to HousingWire.
Reflecting the massive size of this market, more than 400 firms applied or were nominated for consideration by readers in this year's Tech100 competition, which assessed how a company's technology met one of six different criteria for innovation.
Beyond the 100 industry-leading companies featured in this year's top 100, six firms were selected by HousingWire editors as winners representing each of the innovation factors used in the competition.
- Unique solution: FormFree's AccountChek platform.
- Elegant implementation: Kofax Limited's Mobile Capture for mortgage platform.
- Market influence: Ellie Mae's Encompass platform.
- Growth: StreetLinks QX platform.
- Market potential: Roostify.com.
- Something else entirely: DealVector.com.
"At the core of this competition is a deceptively simple question: which tech companies are the housing economy's most innovative?" Gaffney says.
"Beyond the breadth of technology involved, spanning both real estate and mortgages, I think that trying to answer this question is important as we look toward the future of an industry that underpins much of our nation's economic strength."
The full list of winning firms, along with information about the HW Tech100 program and criteria, can be found online at http://tech100.housingwire.com.
HousingWire describes itself as the nation's most influential news source covering the U.S. housing economy, spanning residential mortgage lending, servicing, investments and real estate operations.