Archer Expands Technology Platform
Archer, an AI-powered real estate technology platform, announced that its enhanced platform is expanding beyond a multifamily tool: users can now conduct market research for all major commercial property types, including multifamily, retail, industrial, office and hotel.
“We love using Archer’s platform for multifamily, but the addition of other property types is a game changer,” says Kevin Freels at Midway, an Archer client. “Archer lets us be smarter and more efficient when it comes to choosing a market and sourcing the best investments in those markets.”
In addition to including all property types, the expanded platform contains deal-specific data and analytics. Users can now identify properties likely to come to market with Archer’s proprietary seller intelligence.
Archer’s back-testing showed a 44% improvement on the ability to identify a property likely to transact in the next year using Seller Propensity markers. Beta clients were able to successfully use this seller intelligence for proactive prospecting—Archer sent out over 600 LOIs and BOV’s on their behalf in 4 months.
“With Archer’s updated platform, it’s easier than ever to proactively find off-market deals,” says Cameron Pringle of Manor Development. “Using Archer’s data and AI to find properties likely to sell soon gives me a huge competitive advantage.”
The platform ranks properties according to how well they match a specific user’s strategy. This allows Archer’s clients to screen deals and find on- and off-market properties they’d like to pursue quickly and efficiently.
Once they’ve identified a property they are interested in, users can take advantage of Archer’s property-level analytics to make smart investment decisions. They can view curated financial, sales and rent comps and fully underwrite a property with one click.
Archer’s one-click underwriting saves clients significant time as they screen new deals. Many of Archer’s clients rely on Archer’s proprietary model for their underwriting. For clients that prefer to use their own model, Archer launched an excel add-in that lets them easily include Archer’s data and analytics in their own model. Archer also has an API solution for clients looking for deeper integration.
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