In real estate, the importance of data nowadays transcends mere numbers, unveiling critical insights that shape strategies and decisions. Whether assessing market trends, evaluating property values, or understanding buyer behaviour, data forms the bedrock upon which the most informed choices are built.
Data has the power to steer professionals toward opportunities, helping them navigate the dynamic landscape of properties, pricing fluctuations, and customer preferences. In this sense, working with a data-driven approach isn’t just an advantage; it’s pivotal to empower real estate professionals to decipher patterns, predict shifts, and ultimately, achieve their goals.
Aware of the need of professionals for clean, organised and thorough real estate data, CASAFARI created a multitude of reports that can provide exactly what your business needs. Let’s see some of the goals that CASAFARI’s Market Reports can help you reach.
1. Take a deep-dive into the real estate professionals working in an area
When a broker is choosing the right estate agents to join their agency, several critical factors should be considered. Firstly, local market knowledge: agents well-versed in the intricacies of the area bring invaluable insights, understanding the nuances that affect said market and allowing for better client guidance.
Equally pivotal is an agent’s existing client portfolio, serving as a testament to their credibility and success in the field. A robust portfolio not only showcases an agent’s track record but also signifies their ability to cultivate relationships and generate leads, crucial for expanding the agency’s reach and reputation.
With CASAFARI’s Agents Report, brokers can assess the expertise and client portfolio of existing agents to make informed hiring decisions.
Another possibility is to use this information to find out which agents to collaborate with. A real estate professional representing an investor and looking for market opportunities to buy could partner with a local estate agent with a varied and interesting portfolio of properties for sale.
2. Decide whether it’s worth it expanding to a specific area
Expanding an estate agency to a new area demands meticulous consideration from a broker. Firstly, assessing market demand and potential in the targeted area is paramount. Understanding the economic conditions, demographic trends, and housing needs is crucial in gauging the feasibility of expansion.
Conducting thorough research on competitors and real estate trends also helps in evaluating the market’s readiness for a new agency and deciding if this is the right moment to make the move.
Taking these needs into consideration, brokers or iBuyers that wish to expand into a particular market can utilise our Benchmarking Report to evaluate the size of a market, understand its total value, check how frequently properties are sold and analyse price fluctuations.
As per the measurement of the competition, with this report real estate professionals also get to understand how the market share is spread, see the year-over-year growth of companies and calculate average yearly revenue based on the average sales prices.
All these insights aid in making strategic decisions about market entry and investment.
3. Identify up and coming zones in the area you work with
In real estate, staying abreast of market trends is a pivotal strategy that can unlock unparalleled opportunities ahead of the curve. Monitoring market trends provides invaluable insights into the shifting landscape of property values, buyer preferences, and emerging opportunities.
By deciphering these trends early on, real estate professionals gain a competitive edge, enabling them to foresee potential changes and capitalise on emerging markets or niche segments before they become mainstream.
With CASAFARI’s Market Properties Report, brokers and valuation firms can track the performance of properties and their pricing over time, enabling them to identify trends.
Investors and real estate agencies can leverage this report to research specific markets and identify potential investment opportunities. For example, a real estate agency may use the report to discover emerging neighbourhoods with high growth potential and advise their investor clients to buy in those markets to increase their profit margins.
4. Get to FSBO properties first than your competitors
Securing early access to properties entering the market grants the agent the opportunity to seize lucrative investment prospects before they become widely known. Being first in line enables agents to present these properties to potential buyers or investors, positioning themselves as reliable sources for exclusive and sought-after opportunities.
Moreover, reaching out to property owners first increases the chances for the estate agent to secure the mandate and represent the property. It means expanding their portfolio with high-value properties and establishing a competitive edge in the industry.
And, in order to do so, investors and iBuyers can use CASAFARI’s Market Alerts Report to identify potential investment opportunities before they are placed under property brokerage. The professionals get a report with the contact information of the owners and properties they have in a designated area, allowing them to immediately approach the sellers.
Have you identified any insights that might be of interest to your business? Get in touch with our team and get reports tailored to your business needs!