If you attended Clareity’s sold out MLS Executive Workshop, you got a preview of “INRIX Drive Time”.
INRIX Drive Time provides consumers with a way to know how the location of the buyer’s potential residence would impact their drive time in traffic to and from their work. In a nutshell, search by minutes instead of miles. It just makes sense – since highway access and traffic have a lot more to do with satisfaction with a commute than the number of miles one might typically search for in real estate today using a text field or radius search.
It’s interesting that Solid Earth fielded this feature in their MLS system back in 2005, but not many paid it much attention. CoreLogic added this feature as part of its Data Co-op too. But now the idea is really garnering attention. A recent study from NAR shows that 73% of new home buyers consider drive time to work as a key buying criterion – and today, Windermere Real Estate and INRIX announced the release of INRIX Drive Time on Windermere.com.
A bit about INRIX: “INRIX is the leading international provider of traffic information and driver services. Leading automakers, mobile navigation providers, news organizations and governments in 32 countries rely on INRIX to help drivers save time, use less fuel and avoid frustration every day.”
INRIX Drive Time is calculated from an archive of trillions of real-time data points from hundreds of sources including a network of nearly 100 million vehicles reporting their location, heading and speed as they travel the roads.
The number one question seems to be, “How can I calculate drive-time when that changes during the day with traffic conditions?” Depending on how it is implemented the tool can be set to return listing results within a “rush hour” drive time, or provide an easy way for consumers to quickly see how the actual drive time varies between their prospective home and workplace throughout the day.
Here’s a short video about the tool:
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