Today, or without Growth Maps, no Realtor has the hyper local real estate tools and growth data and the big fix to properly fix local market analysis for real estate. A bold headline, maybe, and I am sure that many readers, will challenge me, and many professional historically get very defensive, partly since they have to keep their semi-monopoly on property data delivered in the MLS, and partly because NAR and others of the powers that be, do not want local data. Because not always is growth data positive. Sometimes Census Blocks are growing, while Census Tracts are declining, and vice-versa. Some local markets may decline or growth, and have NO correlation to the larger city, county, or MSA growth data. Such is real estate, it is very diverse, and varies block-to-block and constantly in flux, since people are constantly moving and changing jobs…. leading economic indicators are constantly changing.
I wish I knew exactly why few Realtors have access for proper market analysis for real estate, but I can tell that after talking with a few CTO s of the top 10 national real estate brokerages, that they said that they would only be interesting in technology and data that HELPED their agents and brokers.
And some local markets are and will always be declining, and if a local market is declining, it does not help sell the real estate and thus not always will local data and trends, help the agent or broker. IT took me 5+ years in the business to figure this out.
AFTER my MBA in real estate, being an agent in many states, and buying lots of property, and even still THEN, I did not know this local growth data existed. Or how to properly do real estate market analysis.
This is a major information gap, data real estate gap, real estate trends gap, gap in knowing what is hot or not, data visualization gap, filtering gap, and most importantly, most consumers and Realtors are NOT EVEN AWARE THAT THIS DATA EXISTS, thus an educational gap of even knowing the solution….
Lots of Realtors like to be defensive and say I am a local expert when in fact they have NO quantitative data to support this claim, and no local data, just property data and driving around.
How to communicate this hyper local real estate problem and our solution?
First let’s look at some infographics, since we are a visual species, and you may not watch or listen to a 4 minute video. Trulia has and OK real estate infographic www.fastcompany.com/1757039/trulias-movity-offers-more-just-maps
BUT notice, all they talk about is yearly crime rate, which has no effect on prices. AND NO monthly or quarterly demographic or economic data, thus no Realtor OR consumer knows if an area is growing or declining.
This is the data information gap of comparative market analysis real estate.
Unlike Trulia and other real estate portals, we do not focus on free data, AND do NOT focus on providing free data, crime rate, property value, transportation, work, school districts etc.
You can get free data from Trulia and Zillow and some Real Estate Agents but –
Who in their right mind would write an offer based upon macro free data?
We DO provide local intelligence at the Block, Track, Zip Code levels.
I just define these levels as local MONTLY and/or QUARTERLY data, trends and turning these trends into information and knowledge.
Block-level changes in median income
Block-level changes in migration
Block-level changes in new business
Block-level changes in job growth
Block-level changes in unemployment rates
Block-level changes in vacancy in vacancy.
Really over 100 variables that change every month, people are constantly moving, and getting new jobs, and this data is NOT recorded, so Realtors do not have this data.
Thus the GAP.
And NONE of this data is on the web, without Growth Maps. The image below, with listed variables best illustrates this gap?
Hyper local real estate and comparative market analysis real estate
Trulia vs. Growth Maps and why we are different
Trulia starts with 8,000,000 homes, 41,000 Zip codes, and 31,400 neighborhoods. THEN YEARLY demographics like Crime data, and current real estate data, like asking price. Growth Maps starts with 209,000 Block Groups, 67,000 Census Track, 41,000 Zip Codes, and 31,4000 neighborhoods and real-time data visualization technology.
Then MONTHLY and/or Quarterly demographics of the core variable that do and WILL affect real estate prices in the FUTURE, and we have the only technology to make sense of, filter, and visualize this data, so that Realtor can benefit.
AND NO ONE HAS THIS GROTH DATA online.
Everyone has current property data and yearly data, but NO monthly or quarterly updates of critical demographics or economic factors. No leading economic indicators at the Census Block Group level or even any local market boundary. Weird huh? Why?
This data is NOT free, NOT online, nor usable in its raw format.
This is the GAP.
Image if you were Starbucks and you had to open 50 stores across the USA next week, what data would you need? We buy the data that Starbucks buys. Starbucks does NOT call 1,000 agents or go to the web for this critical business data.
Without current local data, and current local information, the real estate industry will stay in the dark ages. And buyers will be trapped like a fly in a spider web, with no clue why they go there, what effects real estate prices, and what hyper local trends are. True local intelligence is just a figment of the imagination. And the real estate industry stays the industry of middle aged professional pretending they have local quantified facts, so the illusion of trust is maintained.
With better market analysis for real estate tools, real estate brokers can learn how to market real estate, make more commissions and profits, are just a click away. For more information, download your FREE eBook titled: “What’s Next for Commercial Real Estate Technology: Leveraging Technology and Local Analytics to Grow Your Commercial Real Estate Business”
Your comments are most welcome, and I appreciate your feedback.