Here’s a strategy on how you can use real estate data to establish yourself as the leading local property statistician in your target market.
Let’s face it, people love statistics.
Since the first caveman threw the first rock, people have been recording statistics.
Take sports for example. People eat this stuff up. How many hits has Derek Jeter managed to blast out of the infield? How many passes has Dan Marino completed? How many basketball shots did Michael Jordan take and make during his incredible career?
Statistics get attention. And they have a beautiful way of cutting through all the b.s., noise and hype.
There are three huge advantages of using statistics.
- Clarity – sure, people can sit in a bar and argue all night long about who is a better ballplayer, but that argument is easily settled when you pull out the statistics on the number of home runs, runs batted in and overall batting average. Those numbers are an acceptable means of measurement. The same is true of home prices, sales trends, etc. Someone can claim a market is hot, but where’s the proof?
- Perspective – statistics also give people a sense of perspective, a way to compare one entity to another. Maybe ballplayer 1 and ballplayer 2 are super popular one season, but when you dig into the numbers, you can see one player was great at getting on base, but could never cross home plate. While the other player may have a lot of strikeouts and a low batting average, but still managed to drive in more runs. It’s a way to contrast and compare that humans can comprehend. A way to measure apples to apples. Ditto for properties. How does this current market compare to last year? Are home sales rising since the last quarter? Is it time to list a home for sale?
- Honesty – in this day and age of fake news, fake advertisements and fake information flowing all over the internet, this attribute is more important than ever. Sure, someone can claim Joe Shmoe is the greatest ballplayer since Babe Ruth, but when you dig into the statistics, you can see it’s nothing but hype. The hype that is perpetrated by a player’s agent for a multi-million, multi-year contract. Same goes for homes. What is hype and what is real? Numbers don’t lie. And the last thing a home buyer or home seller wants to hear are lies and hype.
All those qualities of actual, hard numbers apply to real estate – Clarity, Perspective, and Honesty.
An agent can offer those numbers with a hyper-local real estate data widget embedded on their website.
In this day and age of big data technology, where you can store a thumb drive that holds 64 gigabytes, the equivalent of an encyclopedia in your pocket, data is more accessible than ever.
By partnering with a national data provider such as Home Junction, a broker or agent can easily embed an API that allows them to tap into a gigantic warehouse of real estate data, or in other words, local statistics.
How to compile real estate data statistics
There’s a wealth of data available on:
- Local schools – enrollment, student/teacher ratios, demographics
- Property sales – charts showing the latest trends in a marketplace for home sales. Not just the county, or the zip codes where properties can vary greatly, but down to the neighborhood level.
- Demographics – who lives in what area and what are they like? Demographic data gives you an idea on local incomes, education levels, gender, etc.
- Crime statistics – every parent is concerned about crime in their area. Here’s a way to avoid any opinions or hype and to give hard numbers on the safety factor of a particular area.
- Market trends – someone can say a particular neighborhood is “hot” or in “high demand” all day long, but if they can’t back it up with actual data on home prices, well, how credible is their assertion?
- Cost of Living indices – a person might make a remark to give the impression that a particular area is “way too expensive” but when you pull out the stats, maybe that is not actually the case. Sure, it seems like everybody in that area drives a Mercedes, but when you dig deep into the numbers, the stats show most of those people might actually be leasing those expensive cars rather than owning them.
Here’s the point. Sure people love sports. But at the end of the day, who hit a home run the night before is not that important compared to what a consumer is about to spend on a house.
By using Home Junction real estate data, you can establish yourself as the local real estate statistician with all the relevant facts about properties in your target marketplace.
Social media is a perfect medium for this. The great thing about these platforms is that they are free. The bad thing about social media is that it’s free to everybody else to flood with inane information.
To stand out, you need to post content that counts.
Post regular market stats on Facebook, Instagram, Twitter and Pinterest.
Consistent content has a powerful impact. Put a note on your calendar to post new real estate data every time it comes out on your data feed.
People will notice. Over time, they will start to look forward to reading your posts about local real estate statistics. They will turn to you for a realistic picture of the marketplace.
Because after all, you are not talking about their favorite ballplayer, you are talking about where they live or where they are about to invest a large portion of their paycheck.
As we said, people love numbers. They believe in numbers. They will trust people who provide them with those valuable numbers.
Add real estate data to your website and you can knock it out of the park when it comes to promoting your brand as the broker or agent with real, trustworthy local knowledge.