NeighborhoodScout

NeighborhoodScout is a website and online database of U.S. neighborhood analytics created in 2002 by geographer and demographics specialist Andrew Schiller, Ph.D. of Location Inc. The site offers neighborhood reports and a search function that allows users to select the location characteristics that are important to them and return a list of their best neighborhood matches. The site is a recognized resource for nationwide crime data, school ratings, home appreciation, demographics and trends for magazines, news channels, website authors and personal finance books, and a listed relocation reference at the U.S. Department of State.

The website is owned and operated by Location, Inc., a Rhode Island corporation headquartered in Worcester, Massachusetts.

History

Inception

Andrew Schiller conceived NeighborhoodScout while working on his doctorate in geography at Clark University in Worcester, MA.

In an interview with Inman News, Schiller discusses that he used to move around often for jobs or for school, and was often in a position to make expensive decisions about the best places in which to buy or rent. “But asking friends or real estate professionals always led to answers that were an inaccurate mix of what my friend or agent thought I wanted, combined with what they themselves want in a neighborhood. As a result, the suggestions were never right.”

Schiller challenged that people should be able to select the attributes that they would like to have in a neighborhood, then let technology find the perfect neighborhood match. He set out to create and then patent the search technology that would allow homebuyers and renters to ''match'' or ''build'' their ideal neighborhood. He founded Location, Inc. in 2000 and launched Neighborhoodscout.com in 2002.

Growth

By 2006, Location, Inc. reported that NeighborhoodScout had nearly 70,000 subscribers and had served over 1 million users since inception. In 2015, NeighborhoodScout reported to serve over 1 million users each month. NeighborhoodScout earns revenue from customer subscriptions and advertising. They also refer homebuyers to real estate agents and collect a referral fee when they transact on a home.

Media Attention

NeighborhoodScout received considerable coverage in real estate and travel-related news after its launch in 2002. In 2003, The Wall Street Journal used NeighborhoodScout in an example of how more homebuyers are turning to the web, rather than their agents, to find real estate data to fuel their decisions. A year later, CBS News featured NeighborhoodScout's list of top 30 towns in which to buy a vacation home for investment purposes. In 2006, The Wall Street Journal partnered with NeighborhoodScout to release a list of the best 15 towns near metro areas to retire in. In 2008, real estate mogul Barbara Corcoran listed NeighborhoodScout as one of the "best real estate sites." Other NeighborhoodScout lists have been published in Bloomberg Business, Forbes, CNBC, TIME, and Money.com.

References

External links

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{{Online real estate databases

Real estate companies established in 2002
Online real estate databases
Companies based in Worcester, Massachusetts