Currently, as RE NXT users, our organization has bundled access to Data Health Services that include AddressFinder - the ability to submit lost constituents and update their address. This service can be used quarterly under our contract. However, ResearchPoint (WealthPoint) updates address data from CoreLogic far less frequently, and on a seemingly irregular schedule, perhaps once a year.
As a result, we can obtain new addresses for constituents that we fail to match when we screen them for ownership. We can know where they live -- but not if they own it -- for months after our data health project is processed. This is far from ideal. By comparison, one of ResearchPoint's competitors publishes that they update CoreLogic data for deeds weekly, and tax roll data monthly.
To illustrate the point, I was researching one of our young alumni who had no valid address in our database. I found him using LNDP, and requested our Advancement Services team update his address in RE. I then synced with RP and screened him. No real estate matches -- even though I gave RP the new address. I had to verify ownership of his $750,000 home using a competitor's screening tool. The scale of the problem inceases with the size of the AddressFinder project, and negatively affects wealth screening results for many months beyond that.
Craig Belanger
And we screened somebody who had built a house (we had the correct address) and RP instead gave the value of the parents' house where the person hadn't lived in more than 5 years -- probably because the new address with the new house didn't make it through the screening. The person has lived in the new house for 11 months.
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I was just able to verify the problem of out of date real estate data also negatively affects the accuracy of screening results by falsely inflating them. A couple recently screened through ResearchPoint matched and confirmed as owning two properties. Checking them with a competitor’s more current CoreLogic data confirmed the couple had sold one of the properties last July!
This is a significant problem that should be addressed soon.
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