Public Real Estate Data A Neccesity To Overcome Seller Concerns About Negative Perceptions
Public real estate data can be a major selling point when it comes to talking to listing prospects about perceptions on “good” and “bad” neighborhoods.
Here’s an amusing story that illustrates the point.
One writer talked about how the city he lived in appeared on one of those lists as “Worst Places to Live in the US.” The reseseach said unemployment was high. There were quite a few crimes. Lots of abandoned stores and office buildings.
But then, one day, the writer came across another list of “Best Places to Live in the US.” Guess what? His city appeared at the top of the list. That’s because the methodology used in the study was based on highest median income per household and fastest increase in property values.
Funny story right?
But when an agent approaches a potential seller who lives in an area that might not have the greatest reputation, it’s not very funny.
That home seller is concerned. Worried about losing value on their home. Perhaps they need to relocate quickly because of a new job and might be dreading the idea of their home languishing on the market for months.
This is where public real estate data, on your website, can be a major, selling point and a major way to alleviate that seller’s fears.
With today “big data” capabilities, aggregators of public real estate data such as Home Junction, gather an incredible amount of hyper-local statistics.
Recent property sales, market trends, school data, cost of living indices, crime statistics, and much more.
In fact, Home Junction has more than 1,000 data points that they aggregate.
Public real estate data can change perceptions
Here’s the big advantage for real estate agents.
Using Home Junction’s proprietary “Slipstream” real estate data API (Application Programming Interface), an agent can add a widget on their website to tap into this giant warehouse of data.
Now comes the best part. That agent display that data down to the micro-level – not just the county or city level, but right down to the neighborhood or subdivision level.
When it comes to providing public real estate data, you can’t get any more hyper-local than that.
Here’s a potential strategy.
An agent can approach a homeowner and show them the public real estate data resources they provide on their website.
They can tell the homeowner: “You know Mr. and Mrs. Seller, according to my real estate market data, I can paint a very appealing picture to potential buyers for your property. (Oh, and by the way, I’m the only agent in this area with this wealth of public real estate data).”
For example, according to the data on my site:
- School data – you live in a very appealing school district. From the school data on my website, I can show how there are top-ranked schools in your neighborhood. That information can include student/teacher ratios, number of students, student demographics and much more.
With my geospatial data, I can also point out the latest school attendance zones to illustrate how this property falls within the boundaries for these particular schools, including top-notch private schools and charter schools.
- Rising Property Sales – here’s another key point. Sure, there might be some parts of the county that are depressed and not doing so well. But, in researching the public real estate data on my website, I will feature charts next to your listing showing how the number of home sales in your neighborhood is actually increasing.
I can point out to any potential buyers that not only is your home in a desirable neighborhood, but they better act fast if they want to grab a home here.
- Home Value Estimator Tool – here’s more data the Seller will appreciate. An agent can add a Home Value Estimator Tool (AVM) on their website that will give a reliable estimate of what a particular property is worth. Included with that data, is a chart that compares a property to the market in general. The comparison will be based on Size of the Property, Price, Price per Square Foot and Age.
So, for example, the results might show that this particular home is in the upper percentile for square footage and age of the home, indicating this is a fairly new house and very large house compared to others in the area. That’s certainly a big plus as well.
- Real estate maps – Mr. and Mrs. Seller not only will I provide a great array of positive data about your property, I can illustrate some of the key neighborhood amenities on a map in relation to the location of your home.
Take that Whole Foods store by the way. According to the map alongside your listing, it’s only 1.5 miles away. So is that great magnet school for the arts. There’s also a famous sushi restaurant over here and a very popular pilates studio right down the street.
And, let’s not forget that huge public park that is just 2 miles away.
How about access to roadways? According to the maps provided, this property is just two blocks away from the interstate. That’s huge when it comes to making a home appealing to commuters.
Paint a picture with real estate market data
Like an artist, with Home Junction’s public real estate data and geospatial technology, an agent can pull up a number of different data points to paint a very pretty picture of a home for sale.
That picture will be a huge relief to a homeowner.
It will also be a convincing argument to choose that agent – the agent who walks the talk and backs up their marketing with solid, reliable information that answers every concern a buyer might have.
After all, geography matters. So does reality.
We can see from the story above how perceptions can be twisted the wrong way.
Don’t let a misleading rap for an entire area cause problems for a specific property.
Provide this resource of accurate public real estate data to show owners how that information will help overcome any negative perceptions about their home and their neighborhood.