Imagine if you were a salesperson, a Realtor or seller of the largest asset in America that people own – Real Estate and that you did not have access to current data. Just imagine. But anyone can watch the news and see that unemployment rates, median incomes and disposable incomes are ALL changing. But today no Website, shows the changes in this data!
Why is this, and why hasn’t the real estate community adopted new technology and fear.
First Get Some NEW Education – Learn how this data is used offline today
How does Starbuck’s and the big players do it? How do they access current market demographics and economic data?
How is current monthly/quarterly economic and demographic data used today? How do the big players use current monthly/quarterly market data to make smarter location decision? To illustrate, if Starbucks wanted to open 50 stores next week, how would they do it? They buy & aggregate expensive monthly data, & build their own proprietary mapping system. Costing over $500K to build. Big players have access; homebuyers, investors, and Realtors do not have access today, since this data is not free, published, or recorded.
Second – The history of Real Estate data and tech is evolving and what’s next in 2020
Real Estate technology has evolved over the last 20 years. Real estate has been changing from listings online, to the housing crisis, to drones and Crowdfunding. The most current technology today is Prescriptive Analytics and AI or Artificial Intelligence. The Next Big Leap – is taking new data source that are NOT on the web, blending with AI, to get practical advice. Like for example, when and where, to pick several projects for your best investment or site location.
Third – Get Educated and Try New Stuff and LEARN
Allwork had a pretty good article about this recently titled about How New Technology is Disrupting CRE. Of special not are items 1 and 7
#1: The best technology empowers people and enhances human choices.
This is absolutely true, BUT… the core data as to where to buy, within the 300,000+ US markers and sub-markets, is still illusive without fresher and more current market data. “We’re in the second inning,” observed Harry Blanchard, director, CRE, Moody’s Analytics. “No one wants to be first. But no one wants to be last either,” added Brian Mascis, CRO, Rockport VAL.
# 7: Data is currency and provides an edge when used properly.
Data on its own can be a commodity. Its value is not how we look at it but how we use it.
Decision-making is changing based upon access to data and new technology that give access’
WHAT NEEDS TO EVOLVE IS:
To be effective, smart, and successful CRE salesperson or investor you need
1. Access to the most current local market data
2. Knowledge of what’s growing AND declining
3. Accurate local real estate forecasts and/or know what affects local risk and opportunities for yourself or your client.
For example – Anyone can watch the news today and see that unemployment rates, median incomes and disposable incomes are ALL changing. But when you look online to find the latest demographic and economic data for your Zip Code, it shows NOTHING has changed since 2019.
So what needs to evolve is not only access to better and more current market data, but the technology to intuitively access it in real-time.
The answer is both a combination of new and more current data and new technology like real-time data visualization.
After over 10,000 hours of research and development we just launched our Free Trial so anyone can access current demographics and economics in real-time. We have a new real estate real-time data visualization platform that solves this problem, for Realtors and professional investors.
Go ahead and kick the tires for free, and let me know what your thoughts are.
Zip Analyser – offering real estate investors, brokers, and small businesses, solutions on the exact best place and time, to buy or sell to maximize profits