The new name reflects company’s mission of being the source of apartment comp data
SCOTTSDALE, Ariz. – Sept. 17, 2019 –
Radix, the provider of an innovative, cloud-based market-survey solution that produces true apples-to-apples comparisons between multifamily comps, today announced it has reached 2 million active apartment homes. The company, formerly known as BI:Radix, also unveiled its new, shortened name, which more succinctly conveys its mission.
“These are truly exciting times for our company,” said Blerim Zeqiri, CEO and co-founder of Radix. “Our growth to the 2-million-unit mark provides powerful evidence of our ability to transform the creation of market surveys by replacing inefficient and outdated data-collection practices with automated processes that produce more accurate data to drive better business decisions.”
Traditionally, apartment communities have relied on time-consuming, labor-intensive processes to compile market surveys of competing properties. The processes cost time and productivity, and in the end, more time is spent gathering and organizing data than analyzing and using it to make sound business decisions. Through its proprietary feature SurveySwap™, Radix allows apartment properties to automate the collection of asking rents and other data from comps, freeing onsite associates to focus on signing new leases and delivering the highest level of customer service to residents.
“Data is only good when you have data to compare to. The more data available, the richer your data becomes,” said Heather Wallace, SVP for SARES-REGIS Group, a privately held real estate development, investment and management firm that manages a combined portfolio of approximately 25 million square feet of office and industrial space and 20,000 apartment homes. “Having access to data for more than 2 million apartment homes is extremely powerful. As we continue our acquisition and third-party growth strategies, I can leverage Radix data to better understand submarkets in which we may want to acquire properties. It’s an incredibly important tool that makes us more confident in our business decisions.”
As for the name change, “radix” means “root; a source or origin of something.”
“At Radix, we want our market-survey platform to be the source of comp data for the apartment industry,” Zeqiri said. “Our new, shortened name makes that point as directly as possible.
“But while our name is slightly different, our commitment to providing cutting-edge products and great customer service remains the same,” Zeqiri added. “Accurate apples-to-apples comp data is critical to understanding the performance of your apartment communities. With Radix, you find the truth in data.”