We continually emphasize the ongoing importance of data and analytics in the real estate industry. No secret there, it’s what most of our value offering becomes in Leap’s business management tools.
Beyond shameless self promotion of our solutions, we genuinely feel the industry on a whole needs to change in order for agents and the housing market to rebound as a bigger, better, and more effective machine. The more we reinforce the fact that data-empowered agents are those that will become top performers, and the more we shed light on the analytic habits of said performers, the better. The same goes for places and organizations that provide this useful data. Besides our reports, top site Trulia has recently launched a data driven blog off-shoot in Trulia Insights.
While the “unconventional house hunting trends” that Team Trulia will be generating may be more broad in terms of niche market or demographic, we love the spirit of this experiment. Being able to poke and prod into such a luscious spring of data has us drooling, and we can’t wait to see what else this blog comes up with in the coming weeks.
Another recent data source worth noting is Gahlord Dewald, writer at InmanNews and founder of Thoughtfaucet. Gahlord regularly publishes data-praising write ups that can help an agent get more serious about their online strategy, measuring analytics, and social media ROI. We think guys like Gahlord rock.
Other organizations seem to reiterate our sentiment as well. Chicago MLS MRED recently announced that they will be launching an interactive housing market analytics tool. It will allow users to generate charts that show data points such as homes for sale, average days on market, months’ supply of inventory, pending sales, and median sales price, filtered by various criteria. We find it interesting that such a large MLS would open there aggregate data to the general public. Such an aggressive and forward-thinking mindset is commendable.
With such a wealth of sources out there, and with some available for free, ambitious and thorough agents need to measure their market activities for effectiveness and keep an eye on trending housing data. Have any personal data sources that our your favorite? Let us know in the a comments below, we’d love to check them out.