NEW YORK, Jan. 13, 2014 /PRNewswire/ -- Real Estate Connect – On the eve of the 2014 Real Estate Connect Conference, the leading traffic information and driver services provider INRIX and global real estate franchisor announced a collaboration that will make Remax.com the first national real estate brand website to give prospective homebuyers the ability to identify and compare home listings based on preferred commute times rather than distance to work.
The new search tool called INRIX Drive Time™ provides consumers with an easy, visual means to find all homes for sale within a specific drive time between respective properties and their work address, schools or other important locations based on typical travel times at rush hour and throughout the day.
"Buying a home is the single largest financial decision most of us will ever make and drive time is a quality-of-life issue to buyers. For many, it's as important as the neighborhood and good schools," said RE/MAX Technology Strategy Officer John Smiley, "INRIX is the perfect choice to provide drive time data since leading automakers, news media and governments already rely upon them for vital traffic information. We're taking the guesswork out of one of consumers most important purchase criteria – their commute."
According to the National Association of REALTORS®, 73 percent of all homebuyers consider drive time to work a key purchase criterion. Additionally, the U.S. Census Bureau's 2013 American Community Survey found 88 percent of American commuters travel to work by car. More than 600,000 of those commuters face commutes of at least 50 miles from home taking at least 90 minutes each way.
Remax.com will bring INRIX Drive Time to customers in all 50 states beginning with New Jersey in the first quarter of 2014. To determine drive times using this new feature, potential homebuyers simply enter the addresses of the locations most important to them as part of their search criteria. The tool automatically shows neighborhoods and properties that meet their desired travel time.
"In a world measured in miles, we measure it in minutes," said INRIX General Manager of GeoAnalytics Kevin Foreman. "Using INRIX Drive Time, RE/MAX is able to help agents better serve clients with insight invaluable to consumers' pursuit of the perfect home."
INRIX Drive Time is powered by traffic information sourced from the INRIX Traffic Intelligence Platform, which analyzes data from a variety of public and private sources ranging from government road sensors, official accident and incident reports to real-time traffic speeds crowd-sourced from a community of approximately 100 million drivers. INRIX analyzes of traffic speeds also factors in impacts common to the day of the week, season, local holidays, current and forecasted weather, accidents and road construction giving drivers insight that helps them save time, fuel and avoid frustration every day.1 INRIX real-time traffic information is refreshed every minute then archived into an historical database updated every 6 weeks ensuring RE/MAX always has the most current drive time information .
1 INRIX real-time traffic information has been found accurate within 3 mph of actual traffic speeds under all driving conditions 24 hours a day, 7 days a week. Source: I-95 Coalition Validation of INRIX Data Summary Report.
About the RE/MAX Network
RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 90,000 agents provide RE/MAX a global reach of more than 90 countries. Nobody sells more real estate than RE/MAX.
RE/MAX, LLC, one of the world's leading franchisors of real estate brokerage services, is a subsidiary of RE/MAX Holdings, Inc. (NYSE : RMAX ).
For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com.
INRIX is one of the fastest growing big data technology companies in the world. The company leverages big data analytics to reduce the individual, economic and environmental toll of traffic congestion. Through cutting-edge data intelligence and predictive traffic technologies, INRIX helps leading automakers, fleets, governments and news organizations make it easier for drivers to navigate their world. Our vision is simple – to solve traffic, empower drivers, inform planning and enhance commerce.
Whether through an in-car or smartphone navigation application, a local newscast or our INRIX Traffic app, our up-to-the-minute traffic information and other driver services reach more than 150 million drivers to help them save time, fuel and frustration. INRIX delivers traffic and driving-related insight, as well as sophisticated analytical tools and services across six industries covering nearly 4 million miles of road in 37 countries. For more information visit us at www.INRIX.com.