Real Estate Data and Why It Matters
by
on Sep 24, 2009
Listed in News

“Every market is different, call a Realtor today.”  We’ve all heard the radio ads and seen the TV commercials from the National Association of Realtors, and it is accurate, every market is different.  Even within a small geographic region, there can be vast differences.  For example Newport Beach, CA is only a few miles from Santa Ana, but obviously the two areas demand vastly different real estate values.  Florissant, MO has seen a larger price decline than Saint Charles, MO.  Why?  The market is different.  But do you know the answer to what your specific real estate market has done?  Taking an opening speaking line from a friend, every Realtor answers the question with an adjective – “Great” “Outstanding” “Amazing.”  The thing is consumers don’t want adjectives they want facts and figures.  Will and desire can’t change data.

In a time and date when potential clients are confused on what to do, the only thing that can help them make up their minds is hard core facts and statistics.  Unfortunately, real estate data had previously been difficult to come by.  Some MLSs offered the ability to get data, but the ones that did had numerous issues, since most MLSs restrict what data can be shared with clients.  But even the ones that did offer data usually made it hard to find and extremely clunky.  Others offered no data at all.

One of the biggest issues is getting good data that people can understand.  In our opinion charts are the easiest way to make a point.

Beverly Hills Real Estate Market StatsThis chart explains a lot about the market.  In one quick glance I can see that obviously the number of homes on the market, or Inventory, clearly has affected the median price.  It’s simple supply and demand and quickly answers a question.

There are a few different choices for real estate data out there, but at Tribus we integrate many of our systems with the real estate data provided by Altos Research.  It’s a simple strategy to build long term clients.  Only a small percentage of people at any given time want to sell their home, but over the long run the average person will sell their home every 6 years or so.  The key is follow up during the 6 years in between with meaniful information to the potential client.  Who doesn’t want to know what their real estate market for their area is doing.  Altos has made it easy to keep in touch with charts and auto drip emails.  See an example of our implementation of Altos Charts and client capture at one of our example pages for Homes in Ofallon, MO.

Eric works with real estate technology companies and brokerages across the country to see what's next for the future of the industry and directs our internal development projects here at TRIBUS.
  • Eric, I have been using Altos Research for some time and I love them. Rather than just spew out some random thoughts on our local real estate markets, I can refer prospects and Clients to live data giving them an idea of what is happening in San Diego markets that I work in. Updated on a weekly basis the information is both timely and accurate. As you pointed out in your post it is also easy to understand.Have you seen and used the new flash charts just available. I have just added them to San Diego Lifestyle – it's a big step forward with the ability to see different market points and expand the time period. I have posted an example of our Rancho Santa Fe Market below:http://www.sandiegolifestyle.info/rancho-santa-…Powerful stuff, thanks for the post!

  • Eric, I have been using Altos Research for some time and I love them. Rather than just spew out some random thoughts on our local real estate markets, I can refer prospects and Clients to live data giving them an idea of what is happening in San Diego markets that I work in. Updated on a weekly basis the information is both timely and accurate. As you pointed out in your post it is also easy to understand.Have you seen and used the new flash charts just available. I have just added them to San Diego Lifestyle – it's a big step forward with the ability to see different market points and expand the time period. I have posted an example of our Rancho Santa Fe Market below:http://www.sandiegolifestyle.info/rancho-santa-…Powerful stuff, thanks for the post!

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