Properties now features Flood Factor and FEMA flood data to help shoppers mitigate risks
To help home buyers get a better grasp of a property's flood risk, realtor.com has included flood risk information on for-sale and off-market properties listed on its platform.
Powered by data form non-profit research group First Street Foundation, all properties listed on realtor.com now display a Flood Factor, which is a score between one and 10 that represents its cumulative risk of flooding over a 30-year mortgage.
Properties also show FEMA Flood Zone details, which features an interactive flood map and additional details that give users a comprehensive understanding of their flood risk.
"Historically, determining a property's flood risk was an onerous process – in some cases, potential buyers would have no idea a property was in a flood zone until it was flagged by the mortgage company prior to closing, or in some cases not at all," said Leslie Jordan, senior vice president of product at realtor.com. "By surfacing this information upfront, consumers can avoid surprises and have all the information they need to make informed decisions and feel confident about the home buying process."
The company said that it aims to give customers "as much information as possible so they can feel confident in their real estate decisions" as well as "protect their home" with flood insurance and other precautionary measures.
"Integrating Flood Factor on realtor.com provides millions of current and future homeowners with a comprehensive, accessible understanding of a property's flood risk due to a changing environment over the life of a 30-year mortgage," said Matthew Eby, executive director of First Street Foundation. "By democratizing access to this information, First Street Foundation is helping homeowners protect what is likely their largest, most valuable asset: their home."
Flood risk data is available on realtor.com's web, mobile web, iOS, and Android apps.