This episode of the Iowa Tech podcast features Ehrich Pakala, co-founder and CEO of Emigrait, a software company based in Cedar Falls, Iowa. Join us as we delve into Ehrich's journey from being a pure math major to establishing a tech firm that leverages AI to predict real estate market behaviors. Emigrait initially started as a consulting company for mortgage lenders, aiming to forecast potential home buyers and sellers by analyzing various data metrics. Over time, the company expanded its clientele to include realtors, senior housing companies, and even home service providers. Ehrich explains how their AI model functions similarly to a FICO score, focusing on predicting market engagement rather than creditworthiness. Their innovative approach has positioned Emigrait as a leader in predictive modeling within the real estate sector.

Throughout the podcast, Ehrich shares insights into the challenges and successes of building a tech company in a volatile market. Emigrait's growth strategy involves automating customer onboarding and expanding its geographical reach beyond the Midwest. Despite the ups and downs of the mortgage industry, Ehrich credits the company's resilience to a strong team culture that values candor, freedom to make mistakes, and alignment of incentives. He emphasizes the importance of a supportive team in navigating the entrepreneurial journey, particularly when bootstrapping a startup. With a focus on continuous improvement and transparency, Emigrait aims to redefine how companies in the real estate market approach targeted marketing and customer engagement.

Hear the full show: https://iowapodcast.com/ehrich-pakala-mortgage-software-emigrait