Detailed neighborhood and property data can help avoid situations like this one.
A recent article talked about mistakes home buyers make and included a sad tale of people who bought a lovely home, only to discover the neighborhood was not right for them.
The couple moved from a big city urban market to a smaller market in another state. After selling their home, they were thrilled to see the size and the type of home they could buy with all that cash.
Unfortunately, after moving in, they found out all the next neighbors were much, much older than them and did not have any kids.
In fact, the entire neighborhood was like that. They also found they missed the amenities they were used to in the bigger city – choice of great restaurants, etc.
Property data is a powerful match-maker
If you reverse engineer this situation, there’s a powerful lesson and opportunity here.
This is a scenario that could be solved with property data such as the neighborhood information provided by data aggregators like Home Junction.
The property data we’re talking about consists of in-depth detail about a neighborhood – demographics, cost of living indices, school information, crime rates, surrounding businesses, etc.
Take that same couple who moved from one urban area to the suburbs. After talking to the couple about their needs, an agent can use their real estate data gathered by Home Junction to tailor a home that fits their personalities.
If the couple is middle-aged professionals, the demographic data will show the areas where there are plenty of other middle-aged professionals.
If there is a family involved, use the data to show that these particular areas have similar types of families living there. You can also display the most important information a family usually considers when buying a house – school data.
Where are the schools in relation to the property? What is the student/teacher ratio? What is the demographic makeup of the school? What is the contact information for those schools?
Home Junction provides all of this hyper-local information. They have an easy-to-embed API that will feed relevant data to an agent’s website not only to the county and zip code level, but all the way down to the neighborhood level. On any page. With continual updates.
But there’s more.
Integrate real estate mapping
Use geo-spatial mapping technology to drive home the point. With their SpatialMatch IDX, Home Junction integrates MLS listings from the local area with lifestyle information.
Say the young couple likes to golf. Pull up several properties that match their home criteria, then show on the SpatialMatch plugin where those properties are located in proximity to local golf clubs.
Perhaps they like to hike. Or walk their dog in a park. Again, use the geo-spatial data to show the location of parks near those homes. Studies have shown that homes located near a park have higher prices in general than other homes. Use that fact to your advantage (and the seller’s delight).
You can do the same for gyms, restaurants, stores. You name it.
Unfortunately for the couple mentioned above, their home was not an ideal match for them. They moved.
But the lesson here is you can use in-depth property data to show why a home and neighborhood is the perfect match for buyers. You can also use real estate data to show home sellers how you will go beyond just the number of bedrooms, baths and square feet to market their home.
You will market the lifestyle amenities that the property will provide and how the neighborhood matches the buyer’s personalities and preferences.
One neighborhood caused two homebuyers to move out. But with the right approach and the right property data, you can market neighborhoods as a great place for home buyers to move into.