In an ever-dynamic real estate landscape, it is imperative for professionals to stay informed with market statistics and trends. A thorough understanding of the real estate market not only enhances a real estate agent’s sales and client interactions but is also pivotal for a wide array of industry professionals, including developers / builder, appraisers, even law enforcement and many more.
For real estate agents, understanding market trends helps you elevate your role as the trusted advisor for your clients. Developers rely on this analysis to identify profitable parcels of land for new projects. As an appraiser you need it to provide accurate property valuations, while law enforcement uses property data for investigations.
Regardless of your industry, GeoWarehouse offers a multitude of features and functions to assist with research and due diligence, some of which are included in the subscription while others are available for an additional fee. In this article, however, we will focus exclusively on four key features: Heat Maps, Residential Relocation Reports, Comparables Features, and the Teranet Property Insight Report. We’ll explore how industry professionals like you can seamlessly integrate these tools into your business processes.
1. GeoWarehouse Heat Maps*
The GeoWarehouse heat maps specifically feature three data sets, Average Sales, Growth Rate and Market Turnover that allow you to quickly visualize pockets of opportunities within various time frames. Additionally, by using the filter you can focus on specific property types like freeholds or condos, giving you a relevant picture of those property types that are of interest.
Here’s what Fred Sinopoli, real estate sales representative at Royal Lepage had to say about how the GeoWarehouse heat maps, has been instrumental in his business:
“GeoWarehouse has proven to be a highly valuable tool. It allows me to provide my clients with up-to-date and detailed information about many properties and neighbourhoods we have either purchased in or simply explored. The heat maps feature allows the client to see how affordable an area is and how the specific area is trending at the time.”
2. Teranet Property Insight Report
The Teranet Property Insights Report with AVM Range is yet another key report offering a wealth of property information, including historical sales data, valuations, and comparables that can enhance market analysis.
This report is pivotal for a myriad number of reasons. It provides accurate property valuation, historical sales data access, title check information, and facilitates informed decision making.
Still citing Fred Sinopoli, as he noted:
“The detailed reports, including the Teranet Property Insight Report, have proven to be very valuable when I conduct my market analysis reports for my clients and present it to them”.
Here’s how other real estate industry professionals can utilize the Teranet Property Insight Report with AVM Range:
- Appraisers: useful to provide accurate and reliable property appraisals supported by extensive data.
- Builders: helps you plan and execute projects with a clear understanding of property values, historical trends, and market dynamics.
- Law enforcement: useful for tracking assets linked to suspects by analyzing property holdings and transfers, thereby aiding in the identification of hidden assets.
If you would like to learn more about how this transactional report can be used in your business. Request your private demo today to see GeoWarehouse in action.
3. Comparables Feature
The Comparables feature on the GeoWarehouse Platform enables professionals to compare properties within a specific area, helping to establish accurate property values for all transactions in the province regardless of how the transaction occurred. This is crucial for setting competitive listing prices and making informed investment decisions.
This tool is invaluable offers the following benefits:
- Flexible Search Options: Locate comparable sales via map or property report searches.
- Customizable Filters: Define search areas using radius or polygons and filter by sale dates, property type, price range, and lot size.
- User-Friendly Interface: Adjust filters, update results, and generate reports easily.
- Efficiency and Accuracy: Quickly find comparable sales and create detailed reports for informed decision-making.
These features enable precise market analysis and support accurate property valuations whether you’re a real estate sales agent, developer or appraiser.
More specifically, as a real estate developer, you can use this tool to identify a rising demand for condos in a specific neighborhood by analyzing recent sales within the area. Law enforcement, on the other hand, can utilize this feature in asset recovery scenarios to value properties owned by suspects using sales data, thereby aiding in asset seizure and recovery efforts.
4. Residential Relocation Report
Finally, the Residential Relocation Report from GeoWarehouse is another key report available in the store, that aids in market analysis process by providing detailed migration trends and demographic insights at three levels: Forward Sortation Area (FSA), commonly known as postal code, Municipality, and Land Registry Office (LRO).
These reports help you understand where people are moving to and from, enhancing your neighbourhood expertise and market knowledge. You can find a step-by-step guide on how to request for a residential relocation report in this tip for success document in the how-to-library of the Geowarehouse Academy.
Ready to Master Your Real Estate Market Analysis?
With GeoWarehouse, you are armed with the data necessary to stay competitive, knowledgeable and bring additional value to your clients.
To learn more about any of the additional analysis tools available in the GeoWarehouse store or features that are included in the various subscription packages, you can register for an upcoming training session, request a customized group session or use any of the resources in the GeoWarehouse Academy.
*Available in select subscription packages
