Posts

Real Estate Market Data Helps Agents Demonstrate Their Negotiating Abilities

real estate market data negotiatingReal estate market data when making a listing presentation can help influence a seller in a number of ways including one BIG factor that could be the tipping point.

That factor? Your ability to negotiate for the top price for their home.

Sure there are lots of variables that go into a home sale – location, condition of the property, size, the market, available inventory, age, amenities, size, kitchen, bathrooms, etc. etc. etc.

But as we all know, at the end of the day, one of the biggest factors that will dominate the conversation will be price.

What’s my listing price?

What’s my home really worth?

How much should I be willing to compromise?

Lots of unknowns.

As CP Scott once said, “Comments are free, but facts are sacred.”

When making a presentation to potential listing clients, real estate market data, the hard facts, removes many of those unknowns.

By providing several pieces of hyper-local real estate research in addition to a CMA, an agent can start to paint a clearer picture of where any property stands.

And just as importantly, they can demonstrate how they will defend that pricing strategy.

This will impress homeowners.

Real estate market data from one source

Now, an agent can go out and try to find all those hyper-local statistics. And they can attempt to keep them updated every month.

But why do all that when there is a better solution?

Use a real estate market data API (Application Programming Interface) for a data feed from a seasoned data aggregator and technology company such as Home Junction Inc.

We’re not talking about bits and pieces of hyper-local real estate market data. We’re talking about hundreds of different datasets. All custom-tailored to each individual agent’s local market coverage.

real estate data API

Charts provided by Real Estate Data API

For example, when presenting to a potential sellers show them:

  • Charts on Recent Homes Sales in their market
  • Charts on Trends in Home Prices in their area.
  • Charts on Comparable Markets nearby.
  • Home Valuation Estimates
  • Market Position – where does that property rank for Square Footage, Sales Price, Price per Square Foot and Age. (For example, the homeowner’s property might be in the top 20% of their neighborhood for square footage. Certainly an asset to promote).
  • Available of Inventory in their neighborhood and surrounding neighborhoods (Home Junction doesn’t just provide real estate market data by zip code, but down to the neighborhood and subdivision level as well).

All that data will be important in responding to the inevitable lowball offers. Or even offers below the homeowners target price.

School and neighborhood data

Home Junction can provide other data as well that could influence pricing in the mind of buyers.

That information includes School Data. Schools are super important to families and even non-families. People know a good school district is golden when it comes to the value of properties in that area.

School Attendance Zones are another important factor. These zones show which school a child will attend based on their address. Attendance zones are different for different grade levels – elementary, middle and high school.

They frequently change, due to enrollment, etc.

Then there are Municipal Boundaries. Showing a property located within city limits will mean higher taxes.

Who lives where? Home Junction also provides Neighborhood Demographics to give buyers a sense of the people who live in a neighborhood. Are they older? Younger? Highly educated?

Crime Ratings naturally are also an important consideration.

How about the cost of living? One town might be more desirable than another, but geez, it sure is more expensive to live there. Home Junction has that Cost of Living data.

All of these facts and statistics can be used to support and justify a pricing target.

A homeowner is going to want to know their agent will fight the good fight for them. As we all know, there many issues that will pound away at a pricing target.

Home inspections for one.

But an agent prepared with local market research can help counter any pushback on price or other conditions.

In addition, that agent can point out how real estate market data will help take the emotion out of negotiations.

This not only works when dealing with buyers, but as we all know, when calming down sellers who feel hurt or insulted during the negotiation process.

Having that hard, real estate market data can keep logic in the conversation and prove the fair market value of any property.

That’s how you get parties to settle down and get to an offer letter quicker.

It’s a harsh, cruel world out there sometimes. Your listing clients want to have the perception that you are going to be a tough and savvy negotiator on their behalf.

Showing them you have an in-depth reservoir of real estate market data assures them you have the cold, hard, “sacred” facts to wage that battle effectively.

 

 

 

 

Real Estate Data API Can Help Agents Harness The Power Of “New” To Attract Clients

real estate data API

Here we are in a new year and one strategy to consider is the use of a Real Estate Data API to add something new to your website.

Real estate and mortgage experts predict this is going to be a tough year, at least for the first half or so. (See our recent forecast blog).

But you can use the power of “new” as one of your strategies to garner an edge in the marketplace.

Here’s one reason why.

Humans are hard-wired to be on the lookout for something new.

Researchers actually placed volunteers for a study in an MRI to measure their brain activity. When those subjects chose something new, the scans showed their brains lit up, literally.

Experts believe that dopamine, the neurons that make us happy, are more active when they see something new.

That’s the positive power of new.

Don’t just say new for newness sake

But the concept of newness also has a trap attached to it.

It’s called the “fallacy of novelty.”

Just because a company says they are offering something new, doesn’t necessarily mean that it’s better.

Remember “New Coke?” Those folks probably wince every time that failed strategy is discussed in marketing classes on college campuses. It’s a “classic” example of what not to do.

Here’s the other big point in regard to the power of new.

It’s smart to bring something better to the table.

Real Estate Data API can provide “power” content

For brokers and agents, one very simple way to add something new to your website is to work with national real estate data providers such as Home Junction.

These data providers have the sources and the technology to gather, sort and disseminate massive amounts of real estate relevant data.

Information that home buyers and sellers want to see.

For example:

    • School data
    • School attendance zones
    • Recent property sales
    • Trends in home prices
    • Neighborhood demographics
    • Cost of Living research
    • Crime statistics
    • Boundaries such as municipal taxing districts

Another popular product to consider adding is a Home Valuation Plugin. This home estimator tool is super-popular with consumers. Just ask the folks at the mega real estate portal that rhymes with “pillow.”

The process is relatively simple. All you need to do is add a few snippets of code in the form of a Real Estate Data API (Applied Programming Interface). Those bits of code then allow an agent to tap into a storehouse of valuable hyper-local data.

That data can apply to the county, zip code or even down to the neighborhood or subdivision level.

Adding a new Real Estate Data API to your website would be adding a new feature with substance. This information has a real impact on the decisions people will make in regard to buying and selling a property.

This is “new” information people will look for online. They are going to find it one way or another. They might find it on a competitor’s website or they might find it on a national real estate portal.

Either way, an agent runs the risk of being ignored if they don’t provide this valuable content.

Property data gives you substance for social media

Tapping into a Real Estate Data API also provides another benefit regarding the power of “new.”

With a data feed from companies such as Home Junction, brokers and agents will constantly have fresh content they can promote in the marketplace.

Send out an email blast showing a link to a chart on your website with the latest trends in property sales.

Get specific. Don’t just send out a link for a chart on county activity, but send one out specifically for the neighborhoods you are farming.

Do the same on social media. The competition on social media for people’s attention is intense.

In a recent survey by Realtor.com, 90% of agents say they plan to use social media to promote themselves.

That’s a lot of clutter. How are you going to separate yourself from the others?

Showing news about the direction of home sales or prices is one way.

Another is announcing that consumers can now get the answer to “What is my home worth?” on your website.

(Speaking of new, every time a home owner checks out the guesstimate on their home, they will see a new figure and new market data. Very powerful).

Sure, many business people understand the power of new. They might redesign their website to make it look fresher or more organized. They might redesign their logo to make it look more contemporary.

But if you are really going to go through the trouble of creating something new, make sure it has meaning and value to the audience you are targeting.

Humans are hard-wired for newness. It’s a powerful magnet to attract attention.

Start the new year off with a substantive, beneficial hyper-local Real Estate Data API that helps you utilize that power.

 

 

 

Real Estate Data API Can Be One Of The Convincing Elements In Any Agent’s Sales Pitch

real estate data api

A Real Estate Data API can help add more factual impact and less hype to an agent’s sales presentation.

As we all know, in this day and age most consumers shy away from a “sales” pitch.

Many sound hokey and unauthentic. Consumers know they have a device in their pocket that can verify and check any facts. In addition, the public is bombarded by hundreds of sales pitches every day from legit commercials to phony phone scams.

Consequently, they have developed quite a few filters.

Still home sales are sales. And as the saying goes, “nothing happens until someone sells something.”

A sales pitch is simply a presentation – whether visual or verbal – that communicates the value of your services in a way that entices the potential client to become a client or entices a home shopper to purchase a home.

That’s where a Real Estate Data API tool can be an advantage. The API (Application Programming Interface) is basically a few lines of code that feeds a giant warehouse of hyper-local real estate market information into an agent’s website.

Here are some tips on what to include in a persuasive presentation and how to weave local real estate market data throughout to add more impact and credibility.

Use a Real Estate Data API to be visual

It’s been proven many times over that visual material attract customers like a magnet, compared to other marketing methods. So it’s smart to include graphical material such as charts and data.

A clean, modern, and authoritative brand with local property data raises confidence in your services.

Start with your website.

Your website is the first contact point most potential clients will ever have with you, so incorporating Real Estate Data API tools into your website enhances instant gratification when it comes to finding the information they want, fast.

Add charts showing Recent Property Sales or Trends in Home Prices.

Show school information integrated with maps to show just how close a school is to a property in question.

Include pie charts on Neighborhood Demographics.

Add lists of businesses near the property in question. As we discussed in previous blogs, the location of a Whole Foods or a Costco or even a Starbucks near a home can have a major influence on a home buyer.

The beauty of adding this content to your website is that you can also incorporate all of these principles in a personal presentation with a brochure or slideshow.

That local property data shows who you are and what you do in one glance.

Communicate your value proposition

One of the keys to sales is a concept called the “value proposition.” That basically means, why should a home owner or buyer choose you over other agents. What’s the value that you bring to the table?

You need to communicate to the potential client how you will solve their problem.

This is not just an opportunity for you to talk about yourself and be “salesy.”

It’s about honing in on your target client, finding out their needs, their pain points, their particular situation, and telling them how you’ll fix it in the way that they respond to best.

Your client’s problem might be selling their home quickly. Or overcoming some deficiency.

For a home buyer, it might be helping them negotiate a deal with an unrealistic seller. There are dozens of scenarios that need to be addressed. And as everyone knows, no two clients are alike.

A Real Estate Data API  is one very effective tool that can help you solve their problems in the most efficient way, giving them an edge when it comes to narrowing down the correct pricing for homes in the area or presenting market conditions that make it a smart time to buy or sell.

Tell a story

Stories are a powerful persuasion device. They have a way of presenting information in a way that capture’s someone’s attention without boring them. This is also an easy way for people to absorb information and understand it.

You can craft engaging stories – perhaps tell a client about the family that recently moved into the neighborhood and their children thrived in the great schools there. Or about that fellow down the street who was reluctant to list his house at first, but when he did, he received three offers in one day and is now happily retired in Arizona.

Whether you go the route of literally telling a story that includes ways you can solve your clients’ problems, or simply incorporate humanizing and relatable elements into your presentation, consumers will listen.

Describe the solution

The more details you can offer on how you will solve someone’s problem, the more they will be interested.

Including a discussion about how you have access to the latest hyper-local Real Estate Data API is definitely one detail you want to add.

Facts. Charts. Statistics. These components will easily make the case for you. They will show you really are an agent with local knowledge.

If your client’s problem is being unsure of how to price their home for its size and condition, relative to the other similar homes in the area, you will be able to use your Real Estate Data API tools to show comparisons of the exact parameters needed.

And, you can let them know you will use that same data to convince visitors that this home is priced right for this market and they would be smart to grab it now.

Provide proof and then make a call for action

No matter how solid your presentation may be, nobody is going to become a client unless they have seen some proof – both social and data. A video or image testimonial from a raving client, a comparison chart, or offer of extra benefits can all provide assurance.

No presentation – or any marketing effort, for that matter – would be complete without a call to action.

This is what takes the potential client from simple awareness of you, to picking up the phone and calling you.

Your call to action may be as simple as signing up for your mailing list, or as dynamic as calling you on the phone for a live consultation. Whatever the case, make the action as easy to perform as possible for your potential client.

Creating an effective sales pitch or presentation is easy when you use these solid principles.

Incorporating a Real Estate Data API with local facts is one sure way to move your presentation up several levels in the mind of potential clients, and establish a sense of trust in your ability to get the answers and outcomes they want.

 

 

 

How A Real Estate API Can Identify Those “Spillover” Neighborhoods Next To Hot Markets

real estate api

A Real Estate API can be an effective tool to take advantage of popular markets and paint a picture why neighborhoods nearby are the “next big thing.”

We all know and love those trendy neighborhoods. That’s the place people covet where the homes are pretty (and usually large), streets are clean, landscaping is immaculate, schools are great and it’s surrounded by chic restaurants and shops.

Residents of that area are fortunate to live there, but unfortunately for brokers and agents farming that area, it’s a challenge.

The inventory of homes for sale in those markets might be extremely low, or even non-existent. And when somebody finally decides to put their property on the market, they may have lost their minds when it comes to pricing.

Real Estate API can spot new hot markets

Fortunately for brokers and agents, there are effective tools, such as a Real Estate API, that can help them create a scenario to promote adjacent neighborhoods as the “next best place” to buy.

A Real Estate API is basically like a door to a giant library of relevant property data – recent home sales, trends in home prices, school information, school attendance zones, boundaries, neighborhood data, crime ratings, demographics, etc.

With a few snippets of code,  that door can reside on an agent’s website. On any page.

Of course, it would be impossibly time-consuming for an agent to amass all this data.

But there are national data aggregators such as Home Junction that gather all this information for you. They filter the information, organize it and segment it by geographic boundaries.

Those boundaries are key.

Because if you are working on “spillover” markets, you want data not just for that zip code, but parsed all the way down to neighborhoods or subdivisions.

When you have that neighborhood-specific data, you can do wonders.

For example, a buyer wants to purchase a home in Trendy Oaks. But as we said, it’s likely there aren’t any homes for sale or the price of that lone home on the market is in the upper stratosphere.

However, with your Real Estate API embedded on your website, a broker or agent can show home shoppers how Next Door Oaks is starting to heat up as a hot neighborhood as well.

With a data feed that display Recent Home Sales in a trending chart, a buyer can easily see how home sales are starting to take off like a rocket.

Another chart can show the same for prices (Better make an offer now!).

School data is a powerful persuader

School data can be another huge factor.

With current School Attendance Zone data, an agent can point out how that neighborhood also qualifies for children living there to attend the same school as Trendy Oaks children.

These zones are critical. And hard to keep up with.

They do change, depending on shifts in student numbers. They can also be different for different grade levels. While the children in one neighborhood can attend a middle school down the street, it’s doesn’t mean they can attend the same high school as the students do next door.

There’s other data as well that can be supplied by a Real Estate API.

Take neighborhood demographics. An agent can use that information to show prospective buyers how the ages, incomes, family sizes, etc. of people in Trendy Oaks matches these neighborhoods next door.

But what’s really cool, is that the average home prices are much less. At least for now.

Hey Mr. and Mrs. Home Shopper, time to make a move.

Use geo-coding to point out signs of gentrification

Other data points for “Places of Interest” can be the proverbial icing on the cake.

Naturally, Whole Foods, Starbucks, Trader Joe’s and all the cool shops and stores are going to want to be located near the hot neighborhoods.

With a geo-coded spatial plug-in, integrated with MLS listings, an agent can show buyers how certain neighborhoods are located relatively close to those trendy retail stores.

Or, they can point out on a map, how some new stores are about to pop up next to new neighborhoods. A sure sign that gentrification is taking place and that area is about to become more popular.

Conversely, a Real Estate API with this massive amount of hyper-local real estate market data can be a very persuasive tool when making a presentation to a potential seller.

This data gives you a powerful story to tell. Distribute all these positive neighborhood attributes out to homeowners on a regular basis via social media, direct mail and even phone calls.

Create top of mind awareness in homeowners that you are the agent with the local knowledge and the local data to back it up.

Perception is not reality. People might want to live in that hot neighborhood and think they’ll just have to wait until something opens up.

But with your Real Estate Data API supplying you with real facts, an agent can point out how there are other similar neighborhoods starting to blossom, and smart buyers will jump on board.

 

Real Estate Data API Can Help Save A Sale When A Client Ghosts You

A Real Estate Data API with hyper-local market data can be a lifesaver when it comes to a buyer who gets the jitters and is about to change their mind.

If you’ve been in the real estate business for more than a minute, you’ve probably experienced this situation.

Everything is going great, the buyer loves the house, the seller is motivated, and an offer is ready to be made.

But suddenly, the buyer starts to stall when it comes to providing financial information. Calls and voicemails go unreturned, and you start to wonder if your client has gotten cold feet and the deal is off.

What can you do, as a real estate agent, to help your client stick with a plan or be more decisive?

Real estate data API supplies facts, not feelings

So what are some of the reasons you might stop hearing from a buyer you thought was committed?

The main one is financial issues. All too often, shoppers overestimate their available funding, credit score, and potential loan amounts while making decisions.

They get swept along in the process, and when it comes down to hard numbers, the shock and realization set in. Staring at the total payout for a 30-year mortgage can do that to a person.

In cases like these, the buyer may be embarrassed or afraid to admit to an agent what their real situation is since they have already spent time and effort on them.

If you start to sense that there is insufficient transparency coming from your seller, it could be a sign that the deal isn’t happening.

This could happen regarding any number of issues – from home inspections to leaving their neighbors.

You may also start to notice that they are unenthusiastic about selling, and don’t seem at all happy or excited.

They may drag their feet on cleaning, packing, staging, paperwork, and other things. In this case, there could be an emotional component to their cold feet: a sadness or reluctance to leave their home.

Support your clients with market data

In the case of a financial issue, you can ward off inaction by encouraging buyers to be proactive about their finances before making any serious housing decisions.

Of course, they should get pre-approved for a home loan to find out how much they will have to work with. They should also meet with an adviser to talk about costs of home ownership, property taxes, and down payments, as there are many more costs involved in buying a house besides just the listing price.

As your clients look to you as the expert, you can gently and kindly steer them toward having these things taken into consideration before matching them with the perfect listing.

When working with sellers, your job is to be a good and unbiased listener if they need to process the fact that they will be moving out of their house.

You can provide both a listening ear and accountability at the same time – not to mention help them see all the positives of selling and help them get excited about where they’re going next!

real estate data API

Aside from emotional support, use hard data and facts to keep your clients on their path.

With a Real Estate Data API from national data aggregators such as Home Junction, an agent has the tools to point out the financial advantages of buying and selling.

Perhaps homes sales in their neighborhood are in a high upward swing. Or, show them home sales in neighborhoods next door and how those homeowners are taking advantage of a hot market.

Same goes for pricing activity. Show buyers and sellers the data on your website pointing to increases in home prices. Buyers need to move fast. Owners can cash out at a peak time in the market.

With a home value estimator tool from Home Junction, the buyer or seller can see where a property is positioned in a market based on Sales Price, Square Footage, Age and Price Per Square Foot.

Maybe a buyers is hesitant. Show them how this property is actually priced in the lower 10% for price per square foot and in the upper 30% for square footage.

Hmmm, that house looks much more attractive now, doesn’t it?

Local real estate data mapping tools integrated with an MLS can show them other real reasons why they need to make a decision and stick to it: highly rated schools near the property; shopping, transportation, and golfing nearby. Maybe a train station down the street.

Some clients won’t settle for “just talking” and have to be shown the numbers in order to be impressed!

It’s not just you

If a deal falls through, an agent may be tempted to wonder if they did something wrong.

Chances are they didn’t.

The recent NAR Confidence Survey Index from August shows 76% of contracts settled on time.

The reasons for delays mostly centered on financing (36%), appraisal issues (18%) and home inspections (17%).

Others may have an issue with committing to that mortgage, insurance and property taxes when they had a nice simple monthly rental payment before.

However, instead of building up wealth for their landlord, with your Real Estate Data API you can assure them that investing in a home is a solid financial decision to build their own wealth.

Because here are two other very important points that an agent can illustrate with a Real Estate Data API. Interest rates are a big concern. But those rates have been at historic lows. Waiting for rates to drop might not be a good idea because they could continue to go up. Show current homes prices and what the monthly payments will be for those prices.

Which brings us to the second issue reported by the NAR – low inventory. Show the real estate market data for the neighborhoods you are farming. Perhaps homes sales are dropping because homes for sale are scarce. Another reason for a reluctant buyer to make a move.

Adding this real estate market data and charts to a website alongside home listings, also lets consumers do their own research and convince themselves buying or selling is a smart decision.

Stay proactive by advising buyers to get their finances in order early, and use a local Real Estate Data API to show the financial benefits to help your clients from letting their emotions give them cold feet.

A Real Estate Data API Can Help You Provide This One Factor That A Super-Agent Attributes To His Success

Ryan Serhant, one of the top real estate agents in NYC, mentions this one reason for his success.

A Real Estate Data API can help you with a strategy that one of the top agents in the business cites for his success.

His name is Ryan Serhant. He’s the Superman of real estate in Metropolis (The Big Apple.)

By now, most people in the real estate biz know who Serhant is.

He’s one of the agents featured on “Million Dollar Listing: New York.”

Serhant is ranked 15th out of the 100 most successful sales people in NYC. He is a regular contributor about the real estate market on FOX, CNN, ABC, CBS and CNBC.

As you can imagine, New York is one tough market. Selling high-end listings in the NYC stratosphere is even tougher.

Doesn’t bother Serhant. Last year he sold nearly a billion dollars in properties.

So what does someone that successful do in their free time?

Write a book, naturally.

His new book is titled, “Sell It Like Serhant.” (Which is now the title of his own television show).

We don’t know all the tips and details in his book but we did notice something he said while being interviewed on CNBC.

Real Estate Data API provides data and assurance

Serhant said most sales people act too much like…well sales people.

“The biggest mistake most people make when they try to sell something, whether it’s real estate, hot tubs or tires is that they actually try to sell something,” he added. “A watched pot, never boils.”

He said the real key to sales is to work on the relationship with the client. Establish a rapport with buyers. Don’t just go for the sale. Find out not only what they want, but their concerns. Get them to trust you. And act in a trustworthy, consultative role.

In fact, Serhant boils his approach down to just one attribute: “Assurance.”

When someone is about to plunk down $3 million for a 1,500 square foot condo in a city where home prices are already insane, that person wants to be confident they are making the right decision.

Obviously, an agent can’t give them a 100% guarantee.

But a customer would certainly like to hear something more than, “Trust me. It’s a good deal.”

“It’s a matter of assurance. That’s what selling really is. It’s not convincing, it’s not pushing. It’s assuring,” he said.

That’s where a Real Estate Data API can be a very useful tool for brokers and agents.

With this property API, an agent is not just telling someone this is a good deal (or not a good deal). They present evidence.

Real estate market data provide real facts

real estate data API

A sample of the information supplied by a hyper-local Real Estate Data API..

With this tool, agents can show clients the numbers. Facts. Statistics. Real estate market data.

That data can include:

  • Recent Sales Activity in that Neighborhood
  • Trends for Home Prices
  • How that property compares to other properties in the neighborhood for Size, Price per Square Foot and Age.
  • School Data
  • School Boundary Zones
  • Municipal Boundary Zones
  • Neighborhood Data
  • Local Business Amenities Nearby
  • Crime Ratings
  • Cost of Living

Be THE hyper-local resource

National data aggregators such as Home Junction make adding all this real estate market data to a website very, very easy.

All a broker or agent does is embed that Real Estate Data API (basically a few snippets of code) into their website.

That code then pulls in all the property data requested and tailors it for each city, town, zip code or even down to the neighborhood or subdivision level.

When you watch Serhant on Million Dollar Listing, people can see all the characteristics of a successful agent – he’s got the thousand dollar suits, is driven around town by a chauffeur, owns a beautiful apartment and much more.

What most people don’t realize is that Serhant started in the business at probably one of the worst moments in American economic history.

His first day on the job was on Sept. 15, 2008, the day Lehman Brothers filed for bankruptcy and the subprime mortgage business collapsed. That catastrophe in turn dragged down real estate and the entire world economy with it.

As you can imagine, not too many people were in the mood to buy a million dollar apartment at that time. Prices dropped like the big ball in Times Square on New Year’s Eve.

To survive, Serhant had to scrape and claw his way out of that ditch in the most competitive market in the world. That certainly was no easy feat.

So, people might want to pay attention to what Serhant is saying.

Being reassuring to clients is certainly not rocket science.

But it does take discipline to hold back on pushing for just any quick sale.

And for savvy agents, it takes utilizing the best resources available on the market today. That would include a Real Estate Data API filled with hyper-local real estate market data.

Buy Serhant’s book. He obviously knows what he is doing.

As for the practice of assuring customers, get a Real Estate Data API embedded on your website to give clients the facts and the trustworthy assistance they want.

 

Real Estate Data API Offers An Advantage With Expired Listings

real estate API

A Real Estate Data API can be a major asset when reaching out to expired listings.

And you will need an advantage to overcome all the other agents who are approaching the same homeowner.

Contacting an expired listing should be a slam dunk.

After all, here’s a homeowner who is ready to sell. Of course, they just had a reality check about their property and the current marketplace.

But bottom line, they are still want to place their home on the market.

Perhaps they priced the home too high?

Or their home has deficiencies, such as an ancient kitchen or ugly rooms that need to be addressed.

Hopefully, the homeowner will see that changes need to be made.

And they will be ready to list again.

But few things in life are easy

Especially when trying to pitch to a listing for a six-figure property in a crowded field of agents.

Many people will want to step in and represent that homeowner.

The homeowner will be inundated. There will be numerous phone calls, mailers and even knocks on the door.

Many agents will tell the homeowner basically the same message: “I’m the No. 1 agent in this neighborhood.”

Many will offer to send a marketing package to the homeowner.

How does anybody separate themselves from the others?

One strategy is to add a Real Estate Data API (Application Programming Interface) to their website. In laymen’s terms, adding a few pieces of software code.

Sure, many agents will claim to have local knowledge.

But what if you had a Neighborhood API on your website that displayed actual local knowledge in facts and figures?

Real Estate Data API feeds enormous amount of hyper-local info

That Real Estate Data API can upload dozens of datasets with in-depth information about that neighborhood.

For example, this highly relevant data could be:

– School enrollment and teacher/student ratios

– School attendance zones

– Municipal boundaries (taxes are a big issue today)

– Recent sales activity

-Trends in home prices

– Neighborhood demographics: ages, income, number of owners versus renters, etc.

– Crime ratings

– Cost of Living indices

And much more.

You can then create a powerful mock-up of how you will use that in-depth data to market their home.

Perhaps their property is located in a school attendance zone for one of the best middle schools in the county.

Perhaps this home is in the upper 80% of the neighborhood for square footage.

You could also run a comparison of one neighborhood to another, showing how that home is actually comparable to that popular neighborhood over there.

Geo-coding shows important amenities

With a Real Estate Data API that provides geo-coding capabilities, you can point out on a map how that particular property is located near a Starbucks, a Zagat-rated sushi restaurant or a Whole Foods.

Research shows those amenities boost home prices.

Use the geo-coding features to point out other amenities and how those amenities can justify a higher price.

For example, in one study of 16,000 home sales in Portland these amenities were found to have this impact on home sales:

Golf courses: $8,800 increase in average value

Natural areas: $10,000 increase in average value

Specialty park: $5,600 increase in average value

Urban parks:  $1,200 in average value.

Other studies have shown that nice parks can increase the value of a home by 10% to 20%.

Sure, other agents will send their marketing packages as well.

But as most marketing experts will tell you, to win a battle, the key is to have the biggest concentration of troops in the right place at the right time.

Think of all these data points as your troops.

Get ahead of the competition by presenting the most in-depth information.

Telling is not selling. The proof is in Showing the facts in your presentation.

Help the homeowners with their frustration.

Chances are they spent a large amount of physical and emotional energy preparing their home for sale. They might be exhausted by the whole process. And now they have start all over again to find a new agent.

Your Real Estate Data API and the extent you will go to market their property with all this hyper-local data, will make that decision easier for them.

 

 

 

Real Estate Data API Helps Realtors Show Comparisons Between Neighborhoods

real estate data api compare
There are times when a Real Estate Data API with hyper-local market data on different neighborhoods can help clients when it comes to comparing properties.

As a Realtor, helping a client find their dream home is what you’re all about. But what if their client can’t stop obsessing about the “perfect” neighborhood, community, or school district that is not right for them.

Yes, it’s important to many people to move into a nice area with good schools, clean streets, and low crime rates.

But just try convincing a buyer to widen their pool of options when they’ve set their sights on one of the most desirable and high-priced neighborhoods in town!

You know where their dollars can be spent smarter in an area that is just as nice as Neighborhood No. 1. How can you facilitate some deeper consideration into other markets?

Price comparison doesn’t provide the full picture

Simply looking at pricing doesn’t necessarily provide enough context to make a final decision. That’s why information search tools created by a Real Estate Data API can help you prove that to your clients.

A Real Estate Data API supplied by data companies such as Home Junction, is simply a snippet of code that is integrated into a broker or agent’s website. But that piece of software opens the door to a wealth of in-depth, hyper-local data – recent property sales, school data, pricing trends, boundaries and much more.

With that information, a broker can point out how a different neighborhood may not be as “hot,” but is still in an area with decent schools and low crime and near desirable amenities.

Since the current sales activity there may be low, you can even point out to the client how they can get a larger house for less money.

It may only be a matter of time before this area is on the radar and prices start to go up. Why not encourage a conversation about snapping up a property while they still can?

Real Estate Data API shows where a budget can go further

One of the first things you discover when working with a buyer is their estimated budget. They have looked at their income and mortgage rates and have an idea of how much they can comfortably spend on a house.

When buyers are ready to move up, they usually have a pretty good idea of where they want to live: somewhere in high demand and at the top of their budget.

However, what if you knew that on their current budget, they could get features like more square footage, more acreage, a pool and a bigger yard if they just went with a neighborhood that had a little less buzz?

This is where real estate market data tools on your website can bridge the informational gap and help buyers make decisions based on facts rather than emotions.

With just a few clicks, shoppers can see maps, comparisons of housing prices in different areas, school ratings, local amenities, and everything else they need to know to help them formulate an idea of which neighborhoods they are interested in.

As they examine the data, they can see there is not much difference between Neighborhood No. 1 and  that other Neighborhood No. 2.

Or buyers might discover with shock that their $300,000 budget doesn’t really get them the property they truly desire in Neighborhood No. 1, but for that same amount they can purchase a very nice home in the alternative.

Just as housing prices differ from state to state ($300K can get you a one-bedroom house in Hawaii, or a five-bedroom house with acreage in Kansas), there can be subtle differences in communities too.

With a Real Estate Data API sending you feeds for your target areas you are farming, you will have plenty of data for comparing. And it will information in the same format, so you can truly show buyers apples to apples comparisons.

By working through the obstacle of emotional attachment to a popular area, you can help your clients find what they’re really looking for, without going over their budget and still ending up with a house that fits their dreams.

Ultimately, your clients will be grateful for the tools on your website and the expertise and guidance you provide to help them find the right home, in the right area, for the right price – not just the one in the fancy neighborhood they had stuck in their heads.

The best way to overcome unrealistic expectations is with realistic facts and figures. You can not only be the agent with the local knowledge, you can be the agent with the local numbers and statistics.

That’s where a Real Estate Data API on your website can be a relief for all parties concerned.

 

 

How Mortgage Companies Can Use A Real Estate Data API To Generate Borrower Leads

real estate data api mortgage

Adding a Real Estate Data API can be a tremendous lead generation tool not only for brokers, but for mortgage companies as well.

Think about the position this information plays in the home buying process.

Mr. and Mrs. Home Seeker decide they want to purchase a home.

Now, we all know, the first thing they should do is get pre-qualified for a mortgage to decide how much home they can afford.

Some people do that. Some don’t.

But one of the first things Mr. and Mrs. Seeker will do is start thinking about where they want to live.

This is where a Real Estate Data API plays a critical role.

And this is where mortgage companies can seize the opportunity to start a dialogue with home buyers.

Use Real Estate Data API to answer early-stage questions

The great advantage of “big data” technology today is that a real estate agent or a local mortgage broker can display a tremendous amount of hyper-local information on their own website.

For example, here’s one website, HomeScout.com, that uses real estate market data to attract potential borrowers for lenders.

There are data aggregators out there such as Home Junction that have developed ways to aggregate an enormous amount of local market information from public records and other sources.

The real estate data companies can filter, sort and warehouse that data on their own servers.

They are then able to redistribute this data down to the local level to a mortgage broker or a bank.

Say for example, Acme Mortgage Company is focused mainly on generating loans in the Atlanta market.

That brokerage firm can order multiple layers of data from Home Junction just pertaining to Atlanta and its many neighborhoods.

The data can include:

  • Recent Home Sales
  • Trends in Home Prices
  • School Data (this is of super-interest to parents and one of the first items they will research. Talk about reaching people early in the home buying process.)
  • Boundary Information – this includes those critical School Attendance Zones (again, super important to parents) and Municipal Borders that determine property tax rates
  • Neighborhood Demographics
  • Cost of Living Indices
  • Crime Rates

And much more.

A mortgage company can display this information on their website and promote themselves as a resource for consumers starting the home buying process.

What a valuable service to offer, right?

Free data and market research is a powerful draw

Here you have a mortgage company offering to supply FREE information to buyers that answers many of the critical questions on their minds.

Where can I afford to live?

What are the schools like in this particular neighborhood? What is the teacher to student ratio? How many students attend that school?

What’s the cost of living in this town compared to this town next door?

What’s the crime rate like?

Who lives there ? Are they older, retired people or young people with families?

What’s the trend lately in home prices?

Every, we repeat, every home buyer will want to know this information.

After all, for 99% of them, they will be making the biggest financial commitment of their lives.

A savvy mortgage company can use this valuable real estate market data to promote themselves in their target area.

Rather than just say, we have the best interest rates or best customer service, why not offer to provide a comprehensive report on property trends and other relevant data in local neighborhoods?

Send out a direct mail piece to renters.

Promote this free service on social sites – Facebook, Twitter, Instagram, Pinterest, etc.

By the way, this information can be displayed in a variety of easy to understand charts. As we all know in this digital age, visual information is the No. 1 way to convey information. More people will look at images than read text.

A mortgage broker can display plenty of charts showing trend lines in Home Sales or Home Prices. They can also show pie charts on Neighborhood Demographics, etc.

Offer this free service on local radio and TV ads.

Post this hyper-local information on your website to rise up in the ranks on Google and Bing when people conduct searches for keywords such as school information on their target neighborhood school or recent home sales there.

Those organic rankings, which are free, are like gold to businesses.

Because here’s the bottom line.

In this day and age, where consumers are constantly being bombarded with messages and offers, not just on TV and radio, but also on their computers, laptops and cell phones, lenders need a compelling offer to catch their attention.

You also need to give something if you want to get something.

If you want to get the contact information from a potential home buyer/borrower, then it’s smart to offer them something first.

Nothing is more important to that person than this vital real estate market data.

Get it on your site. It’s simple. All you need is a Real Estate Data API from companies such as Home Junction and this real estate market data will be automatically fed right onto your web pages.

Become an important LOCAL RESOURCE. Get your customers to tell their friends and family about this resource to generate referrals.

If you want to be the mortgage company that catches home buyers in the early stages of their search, then a Real Estate Data API is one powerful hook to use.

P.S. There’s also another way mortgage companies can use a Real Estate Data API to generate leads – by examining the data for potential refinance customers. Find out what homebuyers are paying for their mortgages and at what interest rates. We will explore this is an upcoming article.

Use A Real Estate Data API On Your Website To Answer Buyers’ Cost Of Living Concerns

real estate data api cost of living

A Real Estate Data API that shows Cost of Living information can be a very effective tool for attracting home buyers and impressing home sellers.

Here’s a good example why.

Perhaps you heard the recent news that sent shock waves throughout the country.

Reports surfaced that said the Department of Housing and Urban Development determined that earning more than $100,000 a year in the San Francisco Bay Area was just considered “low income.”

Low income on six figures?

People in the rest of the nation probably stared at their computer screens in shock.

But yes, that’s the reality in that part of the country.

If you make $70,000, well, in some Bay Area counties you are considered “Very low income.”

The bottom line: if you are thinking of moving to the Bay Area, you had better do your research and you better make sure that company will pay you tons of money.

Real estate data API addresses the cost of living issue

For real estate brokers and agents, there’s a bigger picture here.

Everyone who considers a move or is relocating, will be concerned about the Cost of Living.

It’s a big factor today.

Sure, someone might be offered a great job in XYZ town, but after they do the math, they discover that they may actually be lowering their income.

If a prospect is a retiree, then the Cost of Living is THE major issue for their fixed income lifestyle.

Anyone who is on a tight budget will pay attention to housing costs and Cost of Living.

This is a major question that will be on the minds of many people. (And if it isn’t, a broker can pose that issue to them to help make a more thorough and well-researched decision).

That’s why embedding a Real Estate Data API is adding a tremendous resource to a real estate website.

Take Home Junction for example.

Their Real Estate Data API offers feeds for the critical areas of research for home buyers such as:

  • Recent Sales Activity
  • Trends in Home Prices
  • Boundaries such as Municipal boundaries for taxes and School District boundaries for schools. (Plus those ever-so-important School Attendance Zones showing exactly where students will be attending).
  • Demographics
  • Crime Statistics
  • Neighborhood data
  • Home Value Estimation Tools

And much more.

Every one of those data feeds will be of interest to home buyers.

(And you can use every one of those data feeds to show sellers how you are going to position their listings in a favorable light).

Demographics and expenses

But another dataset offered by Home Junction is Cost of Living Indices.

Think about the statistical picture a broker or agent can paint for someone who is interested in comparing the Cost of Living from one community to another.

With the Real Estate Data API, a person can examine a neighborhood for:

  • Population
  • Average Income
  • Average Home Value
  • Percentage of Owners
  • Percentage of Renters
  • Age
  • Education
  • Employment – professional, labor, health care, arts, education and service.

The specific Cost of Living Index shows how that neighborhood ranks compared to the average for:

  • Apparel
  • Education
  • Entertainment
  • Food
  • Health
  • Housing
  • Transportation

Promote the fact that home buyers can search through this data on their own on your website (with a Real Estate Data API feed from Home Junction).

Look at all the answers they can find about an area!

If they see a neighborhood that has a high average home value, a large percentage of professionals with above average income, you can pretty much guess the Cost of Living there will be higher. The additional data will confirm this.

Easy way to compare neighborhood spending power

With Home Junction’s Comparative Analysis tool a consumer can drill down even deeper.

Compare one neighborhood to another.

The Real Estate Data API provides all the relevant data such as Average Income, Average Home Value, etc.

But the Cost of Living tool will also reveal how far $1,000 will go in one town compared to the next. It calculates those Cost of Living factors such as food, health care, transportation etc.

If one town will cost you on average $700 for those items compared to another town where it will cost $1,000, well, then that’s a sizable difference and cause for concern.

Conversely, if an agent can show Mr. and Mrs. Retiree that by moving ten miles across town to this nifty little neighborhood, they could be saving themselves a sizable chunk of cash every month.

Cost of Living calculators are nothing new. There are plenty of them on the web. Many of them probably use the same factors for their statistics.

What’s fairly new is that brokers and agents can now embed this tool on their own websites. Why let a hot prospect go all over the web and find this information elsewhere and perhaps give up their contact information as well?

Steer them to your real estate website instead.

More than 90% of home buyers say one of the primary items they look for in an agent is local knowledge.

This is 2018.

Are you going to just say you have local knowledge?

Or are you going to add a powerful Real Estate Data API that displays detailed, hyper-local Cost of Living data and other information right there on your website for all to see?

 

 

 

 

 

 

 

Real Estate Data API Can Provide Outstanding Value to Your Social Media Audience

real estate data api chartsIn case you haven’t noticed with social media, it’s a busy place and adding a Real Estate Data API is one of today’s best tools to cut through all the clutter.

Consider these numbers – 93% of marketers advertise on Facebook. There are about three million businesses doing this.

According to the research, big brands post an average of EIGHT times a day.

That makes for one busy social media highway.

That’s a lot of business competing for the attention of your prospects – whether it’s other real estate brokers or agent or other businesses.

The market is heavily laden with agents posting content daily. How can you truly stand out and get attention on your Facebook content?

The key is to provide interesting and valuable content that will catch the eye, draw in the audience, and stimulate them to learn more or contact you.

This means value-added blogs and graphics, statistics, real estate market data, school news, local happenings, catchy writing, and viral shares with your expert commentary added.

Once you have hooked in a viewer with great content, they’ll want more – and hit the “follow” button on your page.

Real estate data API for when you don’t know what to write

If your talent lies in selling properties rather than wordsmithing, don’t worry too much.

Your audience cares more about your authenticity in providing relevant real-estate related content than your ability to craft an elegant phrase.

When it’s time for you to schedule some Facebook posts and you’re running low on creative juices, consider using a real estate API to supply some solid content inspiration.

Real estaste APIs from aggregators such as Home Junction can provide you with in-depth datasets on all sorts of property data.

  • Recent property sales
  • Trends in home prices
  • Home valuation tools (just like that big real estate website that strats with a “Z”)
  • Boundaries
  • School data
  • Crime statistics
  • Cost of living indices
  • Demographics
  • And much more.

This will help you churn out relevant and valuable posts, blogs, and graphics to help and support your clients.

Not only will this help you create outstanding content, but you will be installing the real estate API onto your website for clients to access.

They’ll love being able to see at their leisure, 24/7, real estate market data and trends, school data, demographics, crime rates, and cost of living data right from your website when house shopping.

You will love having them visit your website, either to gather their contact information with a lead form or establish your brand name in their mind as the place with local knowledge.

According to research, more than 90% of home shoppers said finding a broker who can demonstrate knowledge of the local market is one of their top criteria when looking for Realtors.

How a Real Estate Data API will improve your social media game

If you feel stuck on creating content, you’re not alone. After all, you didn’t exactly get into this business to sit at the computer and blog.

A real estate data API  and the constantly updated information it provides can inspire you to write an entire list of content ideas.

Consider topics like how property values are skyrocketing in a particular area, the listing of a historical or otherwise significant property, or which neighborhood is the best for a certain age demographic.

Demographics are another big draw of using a real estate data API. You might be able to find out that doctors, or professors, or engineers are moving into a certain area at high rates and come up with some inspiration to write about that, or do a piece on what kinds of houses are selling well in the area.

Get inside your ideal client’s head: what are they concerned about or interested in? Crime rates? Cost of living? Best areas for raising a family? Give them the valuable information they need, so they’ll want to stick around and hear more from you.

You have the content, now make it visuallly snappy

Many studies have shown that if a blog or Facebook post does not contain visually interesting and relevant photos, audiences will scroll past quickly.

You can use photos to build interest and keep audiences hooked. Whether you take photos yourself, purchase stock photos, or take screenshots of interesting data, adding pictures to your content will make it a lot more interesting.

The other visually appealing item that people love to view are charts. With a chart, a person can quickly grasp the direction of the market?

If you post a graph showing home sales trending upward in one neighborhood, that could prompt buyers and sellers to make a move.

Show another graph illustrating how property prices are moving up, or moved downward for a short period of time. Again, that one little graphic can be a catalyst for someone to buy or sell.

Your audience is also interested in hearing from your authentic self. Write as if you’re having a conversation with a friend. Stick to one main topic per post, let your personality and knowledge shine through, and add some interesting photos and you’ll be golden.

“Going viral” is one of the most sought-after forms of advertising: but it doesn’t just happen to everyone.

When sharing a post or blog on social media, the desired result is for someone to read it, enjoy it, and pass it on to someone else who might enjoy it. Are your posts interesting and valuable enough to make people want to share them with their network?

Localized content with a unique angle is considered highly shareable.

To display your knowledge of local real estate data, you can create guides – whether in the form of a Facebook post, blog, or infographic – containing specific information for your area.

This could include a comparison of local school data, the best area hospitals or golf courses, best-kept-secret restaurants in your town, a comparison of area crime rates, or anything else someone would really want to know if they were considering moving.

If you share the good stuff, with your authentic personality and some fun photos, your content will be more likely to get shared around social media and thus exposed to a much wider audience.

You know the power of social media marketing.

Use data gleaned from the real estate API to craft engaging and shareable posts, blogs, and infographics to position yourself as a powerful force on social media.

Real Estate Data API On Broker’s Site Creates Ultra-Valuable Resource For Investors In Rental Properties

real estate data API

Real estate data API information on website.

A real estate data API can be a tremendous tool for brokers and agents who want to attract property investors.

In fact, it could literally be the perfect tool.

That’s mainly because of this one factor – analysis.

As brokers and agents know, when a couple looks to buy a home, emotion plays big part in the decision.

But when property investors look at a home, it’s all about the numbers.

  • Property details
  • Pricing
  • Expenses
  • Taxes
  • Maintenance and repair costs
  • Utilities
  • Insurance
  • Cash Flow/Rental income
  • Tenant Occupancy Rates
  • Return on investment
  • Etc.

Those are a few of the equations investors need to calculate during due diligence to see if it is worthwhile for them to commit to a property.

There’s another critical part of the equation – analyzing local real estate market data.

Brokers and agents who embed a real estate data API from data aggregators such as Home Junction will have an enormous advantage in attracting this category of buyer.

And as you know, some of these investors could be the type that will constantly buy or sell properties over a long period of time.

Real estate API is the doorway to a massive database

Savvy  investors need to dig deep into every detail about a property that they can. Adding multiple properties to a portfolio can be very risky.

They know the importance of combing through public records and gathering every piece of data that they can.

But if a broker has a real estate data API on their website (or a property API as they commonly referred to), they will already have layers upon layers of public real estate data available to display and analyze.

Data aggregators such as Home Junction can supply:

  • Property Details
  • Parcel Details
  • Recent Home Sales Data
  • Trends in Property Prices
  • Tax Assessments
  • Tax Valuations
  • Sales History
  • And much more.

Take boundaries. Boundaries are extremely important for tax assessmentsand for schools. Being located inside a municipal boundary can add an extra layer of taxes, which will affect the return on investment formulas for any property.

There’s more.

As we said, investors look hard at the overall picture of a piece of real estate and other factors that influence the value.

That includes:

  • School Data
  • School District Boundaries – as we said, boundaries have consequences. A highly-rated school definitely has an effect on home values and also occupancy rates.
  • School Attendance Zones – these are also hyper-critical. A property might be located in a great school district, but not located which the zone for a particularly high-rated school.
  • Neighborhood Demographics
  • Crime Statistics
  • Cost of Living Indices

With these feeds from a real estate data API, a broker can go even deeper and feature neighborhood data on their website.

Include a geo-spatial component where you can show the distance of a property compared to popular neighborhood amenities

We know for example, that being located near a park can be a major influence on the price of a house.

(And all of these factors, such as schools, parks and local businesses, can make a property more attractive for renters to keep those occupancy rates high).

Another big chore that investors are engaged in is the process of comparing different properties,

Again, this is where a real estate data API can be a real treasure. Investors can make true apples to apples comparisons with accurate property data that covers several neighborhoods, even different cities or counties.

Use a Property API to show market trends

Trends are also super-valuable.

A smart investor knows not to get excited by national trends in home values that they might read in the press.

As far as they are concerned all business is local – hyper-local.

While property prices might be skyrocketing in That Town Over There, property values might not be doing the same in This Town Here.

Investors will want to review real estate and home sales data by zip code. To be an even better resource, a broker should offer a real estate data API that provides property sales down to the neighborhood and subdivision levels.

There are also real estate market trend tools that can show how a home compares to other homes in the area for certain factors.

Those factors could be:

  • Square footage
  • Prices
  • Price per square foot

Perhaps Mrs. Ivana Invest finds a nice potential rental property that is in the lower 20% for prices per square foot. That’s a very significant piece of information to know. (And, a major shortcut for them because they don’t have to dig up all that data to figure the ratios themselves).

This is the era of big data. A broker or agent can literally add dozens upon dozens of different property layers to their website.

They don’t have to store all that data on their website. They don’t have to go out and update it. They don’t have to worry about pulling that data to display on their website.

A real estate data API does all that work for them.

All a broker or agent has to do is add a few pieces of code to their website. It’s that simple.

And by the way, all of this data makes the broker and their agents the true local resource with local knowledge when dealing with individual home buyers.

Why let prospects go to the mega-real estate portals for this data when a local broker can supply the same thing? (And keep all of those leads).

Want to be an super valuable resource for property investors? Get a real estate data API working for you right away to attract those buyers.

If you want to see a real estate data API on an actual real estate website visit www.roywheeler.com