As a REALTOR® and regular user of RPR, you’re most likely very aware of how essential this digital real estate tool is to your day-to-day business. (If you’re not, please get started here.)
You know that as the nation’s largest property database built exclusively for REALTORS®, RPR offers the data, reports and tools to help you “wow” clients, close more deals, and be more successful. However, access to RPR data and reports goes beyond agents closing residential real estate deals–it can also open doors.
Using RPR Economic Area Reports To Wow Community Leaders
Missy Vanderpool, an Association Executive for the Henderson-Audubon Board of REALTORS® in Kentucky, knows firsthand just how important and impactful access to RPR’s data can be to local communities in seek of economic revitalization.
As a self-described “office of one”, Missy not only trains, educates and assists every REALTOR® member of her local association, she’s also heavily involved in her community’s redevelopment real estate projects.
And she got a seat at that table by sharing RPR’s Economic Area Reports, which provide insights into demographics and local area trends. The data from these reports support regional economic analysis for planning and growth.
“The Economic Area Reports reports have been instrumental for us. It’s helped us develop relationships with our City and County government leadership, our business owners, and the community in general.”
“The RPR Local Economic Area Reports were a door opener for us. At first, when the discussion for the need of a downtown master plan began about a year ago, our local REALTOR® board didn’t have a voice.”
But when Missy found out that the group was in need of demographic information and community fit data, she knew it was her chance to make an impression. “I presented the RPR Economic Area Reports to the committee, and they were blown away by the depth and detail of the data. In fact, the City Manager exclaimed ‘This is great, it’s EXACTLY what we need.” Turns out that the committee had hired an outside consultancy firm the year prior, and my RPR data was more current and robust then theirs. And I know they spent a pretty penny on it. Needless to say, they were very impressed and we’ve been a part of the committee ever since.”
This group, called the Henderson “Economic Vitality” committee, consists of the Executive Director of the Henderson City/County Planning Commission, the Henderson City/County Codes Director, the Henderson City Manager, The City Public Information Officer, The Henderson Tourist Commission Director, The Director of Henderson Public Library, a representative from a local downtown bank, a local downtown restaurant owner and Missy.
“The interesting thing is we had never been a part of these committees in the past and now we finally have a seat at the table, and we are valued. They understand that REALTORS® are invested in their community. The RPR Economic Area Reports cemented our status as knowledgeable, trusted advisors.”
RPR Economic Area Reports
Economic Area Reports from RPR are a powerful and attractive presentation of economic and consumer data. The Local Economic Area Report, which can be generated for a local geography like a ZIP code, city or census block group, or a state legislative district, provides a focus on consumer metrics, economics trends and demographic changes.
You can drill down beyond just what people and households earn, to how much discretionary income they have and what they’re apt to spend it on. Equally impressive, you can easily find out which business types are in demand, and which ones are saturated.
The section of the Economic Area Report detailing an area’s Tapestry segments—based on demographic information from Esri—provides a unique and colorful snapshot of who lives in a neighborhood. You can see at a glance the dominant demographic groups in the area and essential data about those groups, such as their age and household size, net worth and median home value.
Here’s a brief video that explains exactly how Association staffers can get access to and run their own Economic Area Reports.
Growing Communities and Businesses Together
“The City Manager and the Mayor of Henderson regularly reach out to myself and our Association for information and advice. All that comes from the great wealth of data available from RPR. In the past month our city has had several meetings with developers and investors, and they have invited us to be a part of those conversations. RPR Economic Area reports are an invaluable tool for members and associations alike!”