Meet the accomplished RESO member who is helping build an emerging proptech company within a government entity
Since he was young, math and technology came easy to Anthony Percaccio. Decades later, this accomplished Canadian property data pioneer, part-time Professor and self-characterized “explorer” is leveraging these skills to help RESO usher in a new era of international expansion.
Anthony is a Director at Ontario, Canada’s Municipal Property Assessment Corporation (MPAC). This organization is responsible for creating and maintaining a comprehensive database of information for every single property in Ontario – more than five million homes and businesses. They are responsible for delivering property values, insights and services to taxpayers, municipalities, governments and businesses.
He’s also an advocate of expanding RESO’s reach to other industry sectors that can benefit from RESO involvement. Anthony is encouraging other Canadian organizations to align with RESO standards, including government, appraisal management companies, financial institutions and proptech companies.
“It’s a path RESO can replicate around the globe,” said Percaccio. “Creating data standards is about being able to exchange data between different systems used by different companies. So, no matter who accesses it, the meaning and quality of that data is always the same.”
Innovation in the public sector
Anthony’s career at MPAC began 25 years ago where he has brought a change-seeking mindset to the table throughout his career.
“I’m helping to innovate by listening to and collaborating with our customers. Conceptualizing, researching, developing, and analyzing data and technology to generate value. It’s a mixture of math, stats, tech and of course art!” he said.
Born and raised in Toronto, Anthony cites his heritage, upbringing and family as giving him the ambition and passion for innovating and approaching challenges, which he says are opportunities, in a distinct and creative way.
“It’s the passion for the data, passion for the technology, a passion for interacting with people and then seeing the ideas grow into profitable customer success stories.”
From assessments to data insights
Anthony has helped turn MPAC into an emerging proptech firm by providing data services to banking, insurance, eCommerce and real estate industries. MPAC now generates approx. $25 million (CAD) in annual revenue. He said the commercial revenue offsets the levies to municipalities.
Today, MPAC does much more than determining property values. The massive data it collects and processes provides insights and services to property owners, some 444 municipalities, the government of Ontario and customers across Canada.
Among Anthony’s major accomplishments includes the creation of MPAC’s Automated Valuation Model (AVM) – a first in the public sector 20 years ago. The MPAC AVM provides real-time estimation of market value, covering roughly ten million residential properties across Canada. Today this service is highly prized by financial institutions and other firms that need the highest quality and most timely risk management tools.
Being at the helm of MPAC’s Architecture and Information Systems – Revenue Services team is a far cry from Anthony’s first day on the job. Hired as a statistician for the property assessment division fresh out of University, he thought he would spend his time inside at a desk developing statistical valuation models.
However, his supervisors had a different idea for his first day. Anthony found himself out in the field measuring properties. “Those first few years spent in the field inspecting properties and conversing with the public allowed me to fully comprehend why, what and how the data was collected which laid the foundation for my career,” he said.
More Ways to Innovate
Anthony first discovered RESO back in 2017 through its Data Dictionary as he was embarking on creating one for MPAC’s commercial offerings. RESO already offered what he considered to be the “ultimate Data Dictionary”. He foresaw adding a “Canadian flavor,” and encouraged MPAC at the time to join.
Anthony was able to research and communicate the value of RESO to an assessment data organization. MPAC’s desire to be recognized for the quality of data it provides, and the use of RESO’s Data Dictionary to bolster those data capabilities, convinced MPAC to join RESO’s growing international contingent of members.
“The Data Dictionary is the real estate industry’s universal language for technology. Using the standards in Canadian organizations allows us to be interoperable with international partners,” said Percaccio.
Anthony’s next mission is to add another item to his “never been done before” list: RESO certification for MPAC. Working with the RESO team, a new process is being created to provide certification to non-traditional RESO members. Validating the quality data services that MPAC and other data providers create for customers provides opportunities for expansion. Anthony views achieving this certification for MPAC as a win-win.
“RESO will benefit because it now has an opportunity to view and leverage the assessment side of the world and try to connect with new companies across the country – and across the world – to get involved in RESO,” said Percaccio. “It’s a way to get recognition on the appraisal side, the insurance side, and the financial services side – all opportunities where people and organizations aren’t really aware of RESO…yet.”
“It’s newer members like Anthony who foster greater membership diversity,” noted Sam DeBord, CEO at RESO. “As RESO’s global collaboration grows, we see more interesting and brilliant members joining and volunteering in our workgroups, and we are reaping the inherent benefits this delivers to everyone involved in the real estate industry.”
Remixing the Real Estate Data Space with RESO
Learn more about how to become involved with RESO at reso.org and definitely attend RESO’s next conference, RESO Remix, set for virtual attendance, April 20–22, 2021. Registration is $199 for RESO members and $299 for nonmembers.