Case Study: Formalytx

Services

  • Information Architecture

Need

Formalytx is a real estate auction marketplace, providing consumers with the data, tools and knowledge to evaluate and acquire properties.  Users can review properties scheduled for in-person and online auctions, and bid on any online auctions.  Real estate experts can advertise their services.  Ucentric Design designed the information architecture for this enterprise system

Prior to Formalytx, users had to travel to properties to assess the value and then attend the auction in-person, often literally with a suitcase of money. 

Reviewing Properties

Prior to Formalytx, it was difficult for consumers to access quality data about parcels in auctions.  Hence they were hesitant to bid.  Counties lost revenue from unsold properties.  Now consumers can subscribe to quality data that Formalytx compiles from multiple reputable sources.  With a map and robust search features, users can find and evaluate properties around the country.

Bidding on Auctions

A county can run an online auction through the Formalytx platform.  Then consumers can follow and bid on the auction from a browser.  Winners can set up their account to pay online.  No longer do they need to attend in-person with a suitcase of cash.

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