As well as in many other markets, information is key for strategising your work and increasing revenues in real estate: when professionals of the sector understand the market behaviour, this knowledge directly affects the amount of monthly deals.
But are you aware of how having transactional data at your disposal adds to this market knowledge? Or are you aware of how it can increase the satisfaction of clients with your work? Let’s see why this data is so relevant.
Why is having access to transactional data important for a real estate business?
As a real estate professional, you know that one thing is how much the seller asks for a property and another completely different thing is how much the buyer thinks it’s worth.
In an area where the demand is higher than the amount of properties available on the market or in which there is a lack of a certain kind of asset, buyers are forced to compete for real estate, making higher offers and raising the transactional prices once again.
On the other hand, when an area has a decrease in demand or is going through times when buyers are facing a limited payment capacity, they will probably try to negotiate prices. In situations such as these, the asking price will be different than the actual transaction price.
Having access to data about real estate transactions means you will be able to know if properties are often sold for more or for less than the original asking price, allowing you to look for properties that will fit into a buyer’s budget and calculate negotiation margins realistically. It sets your client’s expectations and leads you to faster deals.
For example: if properties usually sell for 10% more than the asking price in a specific place, then you will know to look for properties below your client’s budget to have this free margin. While, if properties are sold for less, you as an agent can feel free to make a lower offer and help your client acquire a property without spending all their budget.
Summing up: having access to transactional data will make you work more efficiently and provide a better service to your client.
Why should you add your transactional data to CASAFARI
When it comes to transactional data, the more, the merrier! Switching from a sample of what goes on with one agent to seeing what usually happens to a whole community of professionals provides you with a more comprehensive and realistic view of how the market actually behaves.
Also, you should know that the data you add to CASAFARI from your real estate transactions can be seen only by other agents from your own company. So, basically, you’re helping the company to enhance its market knowledge, increase revenues and leave clients satisfied.
Adding data from your real estate transactions to the platform
The way to add the data of a transaction to CASAFARI is very simple:
- Search for the property you sold;
- Click to open its property page;
- At the far right of the page, find the field “Transactional price” and click on “Add”;
- Complete the pop up with when the transaction happened and for how much.
Adding transactional data in bulk
If you want to update information about transactional data for many properties at once, there is a way to do so as well.
- Log in to CASAFARI;
- Select “Me”, on the top right corner of the page;
- Click on “Add transactional data”. please contact an account manager to activate this feature.
- Download the template document in which you can add the information about the transactions and, then, click “Next”;
- Select the country where your transactions took place and click “Next”;
- Upload the file with the information you wish to input to CASAFARI and click “Next”;
- Wait for our platform to process the document and then select “Upload data in CASAFARI”.
Now that you know how relevant it is to look at transactional data before approaching a negotiation for a property, take some time to upload information from your latest real estate transactions and share this market knowledge with your colleagues. Enable more deals for your company with data!