Local Logic’s year in review 2022

With 2023 fast approaching, the team at Local Logic took the time to reflect on this past year. The recent market slowdown isn’t news to anyone — but sometimes it takes a major event to highlight what can be improved.

The Great Reset has exposed opportunities across both residential and CRE markets where technology and data can drive positive impacts. While the industry has seen its fair share of ups and downs, we believe that we can still work together toward building a better future for our cities.

The economic climate has taught us that we need more concrete and quantifiable ways to not only guide our decisions but also measure the impact of those decisions on the environment around us. Using data-centric approaches to urban development can help weather market fluctuations through more informed decision-making, sounder investments, and better industry practices focusing on health, wellness, and sustainability.

Our annual recap

Over the past year, we’ve had some great wins that helped shape growth for our partners, internal team, and mission — and we’re excited to recap and share them with you!

2022 at a glance

Growing within the real estate ecosystem

 We hit the road quite a few times this year! Attending over 14 events (and speaking at 10 of them) across the US and Canada, our team traveled coast-to-coast to keep up with market trends and connect with other industry leaders.

 We announced 12+ partnerships with industry leaders — including CB Bain, Cherre, Berkadia, Zumper & Royal LePage, Silverstone, IDU, Wahi, Crimeometer, Constellation1, Giraffe, BCREN, Black Knight — who’ve helped us strengthen our presence in the US and Canada while enhancing our data offerings.

 We hosted 9 masterclasses with key players in real estate, sparking conversations on how location insights can help identify investment opportunities and guide better decision-making.

Missed them? Check out the recordings and transcripts:

1. How to give consumers the data they need to make a decision
2. Getting started with location intelligence data doesn’t need to be scary
3. Behind the Industry’s First Wellness Score
4. Understanding Location to Win in SFR and Build for Rent
5. How School, Crime, and Location Data Impact Real Estate
6. Data-driven strategies to address climate risk in real estate
7. Property Valuation: Inside & Outside the Four Walls
8. Conducting robust site analysis with demographics data
9. Supercharge your 2023 strategy with data-rich listing content

 Along the way, we’ve proudly received 4 awards, including Data Supplier of the Year at the inaugural SFR Industry Awards and High Performer, Best Support, and Easiest To Do Business With in G2’s Fall 2022 Report.

 We also ranked as top contenders on 3 real estate and tech lists: Top 100 tech companies, 11 top commercial real estate startups and companies in Montreal, and #CREi top 150 commercial real estate influencers.

 Thanks to Proptech Espresso podcast, ClearCast Podcast E28, Possib(ility), a podcast by ility, The Commercial Real Estate Academy Podcast, Future Construct, and VoiceAmerica for featuring us as guests on their podcasts! It was a pleasure discussing how location intelligence can help transform cities and build better experiences for the built environment.

 We grew our headcount by close to 50% with new hires across our product, marketing, development, and insights teams.

 Last, but not least, thank you to all of our clients who helped us earn a 5-star rating on G2!

Improving our data solutions to empower decision-makers

Using our data solutions, homebuyers, investors, and municipalities can make informed decisions about what to build, where to buy, and how to improve sustainability efforts. To provide our clients with better-quality insights, we’ve heavily invested in improving our core data processing technology and launched new products:

Wellness Score

At Local Logic, we believe that wellness is an integral part of considering a location’s quality of life and a significant driver of a location’s value. We were thrilled to announce the addition of our 18th proprietary Location Score to quantify it: the Wellness Score.

New Points of Interest (POI) categories

We launched six new categories to round up our existing database of 15 POIs and bring more location insights to our customers. Quality of life depends on which amenities and destinations are important to a person. Since everybody has their own preferences, we added more POI categories to account for individual needs within a neighborhood.

Spatial flexibility and polygons for our Demographics API

We increased the flexibility of our Demographics API to allow for custom polygon queries, so you can define the area through your own polygon or a series of presets across all the US and Canada. Therefore, you are able to specify the area for which you want data with far more precision.

Using data to extrapolate industry insights

While most of our data solutions come in the form of API, SDK, or reports — we also deepened our understanding of the industry to provide insights across the latest real estate and urban developments topics.

Some of our most interesting market studies include:

• Using location insights to uncover untapped markets for SFR investment
• Measuring the impact of urban density on car dependency
• 4 ways data is changing real estate investing – now
• How nearby restaurants contribute to the desirability of an asset
• How to curtail urban sprawl in Canada with higher-density developments
• Making cities more sustainable, one real estate decision at a time

We’ve also developed in-depth case studies featuring what our partners achieved with location intelligence:

• How Vistoo outperformed the industry conversion rate by 2X with location insights
• How Wahi increased stickiness by 5x for users engaging with school data 
• Quebec’s decision to reevaluate a $2 billion hospital project points toward the future of sustainable urban development

We were more active on social! We took to our channels to share data visualizations of our findings:

If you don’t follow us yet on LinkedIn or Twitter, this is your chance!

We have big plans for 2023 

 New products are coming, and they’ll deliver greater location insights and context to the built environment. We’ve listened to your feedback — key updates are being made to existing solutions to make them even more intuitive to use.

 We’re headed to even more events! Let’s connect in Q1 at:

• Short-Term Rental Forum (January 23-24)
• Inman Connect New York (January 24-26)
• ESG & Decarbonizing Real Estate Forum (February 7-8)
• Marcus & Millichap / IPA Multifamily Forum: Southeast (March 23)
• ULI Housing Opportunity Conference (March 27-29)

 Our team is growing. Want to join and help make cities more sustainable, equitable, and prosperous? We’re hiring across all departments. In a year’s time, we’ll be a bigger, better company that’s ready to take on the opportunities and challenges ahead!

Finally, we want to wish you a happy holiday and the very best for the year to come.

See you in 2023!

The Local Logic team