Reverse Engineered Site Selection

Sometimes you come up with a great idea for a project, but you’re just not sure where to start. Often times that means a trip to YouTube University for a video on how to change your oil, or maybe a cooking tutorial to help you nail that palak paneer dish you’ve been wanting to make.

As a society, we know that turning to experts for knowledge is a great way to get up-to-speed more quickly, or fill in knowledge gaps that might otherwise cost us. So why not apply this approach to your commercial site selection process?

Tools such as the Attribute Based Site Selector, which you have access to in RPR, allow REALTORS® to identify areas in any geography based on the economic, demographic, spending and other community attributes. This can help your client reach their goals and save you time from looking at too broad of an area for space. At the same time, you’ll also help your client understand more clearly why this space in this area makes perfect sense for them.

However, what if you’re not positive about which attributes to target? Well, why not turn to the experts? While you can’t go to YouTube to see videos on the reasoning Walmart chooses one location over another, you can go to RPR to run a custom Trade Area Report around an existing location to see that community’s attributes and discover your own insights. That way if your client has a similar customer base as Walmart, you can see what attributes Walmart’s expensive site selection team might have used in their process and then do your own based on what you discover. For an example of how to do this, check out the video below:

2 replies
  1. Dao
    Dao says:

    In commercial real estate especially in land, we might need the topology and environmental reports for the side as well. And can we have the list of local banks or national banks or lenders who would finance and support for the commercial development at the areas or states.

    Reply

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