Discovering Neighborhood Data for Your Clients
Finding the right neighborhood for your buyer is easy thanks to the market trends, housing, demographic and economic data found within RPR. Here, we’ll run you through the basics on how to help your clients zero in on the ideal neighborhood.
Then, we’ll show you how to print the charts and graphs you see and also create an RPR Neighborhood Report that will “wow” your clients and hopefully, help you close some deals.
Let’s get started with what you’ll find in RPR’s Neighborhood data section:
Neighborhood Data: Summary
Every agent wants to clearly communicate the subtle changes that are occurring in their market, and with RPR that process couldn’t be simpler. From the summary tab of the neighborhood detail page, view the Market Trends card showcasing key metrics for any neighborhood. It’s basically a quick, at a glance snapshot of the local market.
The first area is full of important and relevant information about your chosen housing market. The type of market (seller’s, buyer’s or balanced) is represented on a sliding scale. To get more details on how this is measured, click the About this data link, it’s in blue right under the Market Trends title. It’s an industry standard that is determined by months of inventory.
Then you’ll see the Key Details which include the Months of Inventory, the List to Sold Price percentage, the Median days in RPR, and finally, the Median Sold Price. This provides four key metrics about how long homes have been on the market, whether they’re going above or below asking price and on average, how much they’re selling for. Green (up) and red (down) arrows below these stats also give a month over month up or down percentage rate, too.
Not all charts are currently in the RPR Reports, but there are many ways to share the information you see. Check out our how-to article Free Templates to Help you Create Social Media Market Updates to learn how to share the market trends and housing stats to your clients and customers. You can also create a video talking about local market data, use these scripts as a starting point: Shifting Real Estate Market: How to Create a Video That Clears up Confusion. And last, you can always print and save the charts to a pdf. Scroll to the bottom of the article for a quick walk through.
Neighborhood Data: Housing
The Housing tab takes a deep dive into the housing metrics of the neighborhood. The top chart highlights the neighborhood’s housing characteristics compared to the county, state and nation, including comparisons for home ownership, rent, and information about permits and buildings.
Next up are charts for listings, including New Listings, Active Listings, New Pending Listings, Pending Listings and Sold. Listings. These charts provide an in-depth look at several housing market statistics over a period of time.
- New Listings: anything listed within that month
- Active Listings: still active at end of month regardless of when it was listed
- New Pending Listings: what went into pending status that month
- Pending Listings: what was still in pending status as of the last day of the month
- Sold Listings: what was sold the previous month, but most importantly, how much over or under the list price is going for in the Avg. List to Sales Price % section
The big takeaway here is being able to track and monitor the volume and the details of housing inventory. Another key metric is being able to see whether homes are selling for over or below the asking price.
Neighborhood Data: People
The People tab gets to the heart of who lives in the neighborhood. Here you will find a side-by-side comparison chart that measures population counts, densities and changes; median age, gender, and education levels. You’ll also find breakdowns of population of children and adults by age group, the number of households with children, income brackets, occupations and even voting patterns.
Neighborhood Data: Economy
Look to the Economy tab for a clear picture of per capita and median household incomes, as well as employment figures.
Neighborhood Data: Quality of Life
This tab is particularly helpful when working with relocations. Look to Quality of Life for weather and water quality, commute times, transportation options, monthly temperatures, the AARP Livability index, and walkability scores. It even includes the number of Superfund and Brownfield sites. Again, all in a side-by-side, neighborhood/county/state/country comparison.
How to print and save RPR charts
Just a note: the new chart metrics will not display on RPR reports at this time. To print a specific chart or set of charts, use the Print button, which resides in the upper right navigation area. If there’s a chart you don’t want to include, simply collapse that chart and it will not show.
To include these new charts in an RPR Report, click the Print button, and then under the “Destination” pull down menu, you can choose to save the file as a .pdf. Save the file (chart) and then you can attach it to other RPR reports from the Reports generation page. This is done through the Manage Custom Pages Link, which you can read about here: Learn more about Custom Pages.
How to Search a Neighborhood and create a RPR Neighborhood Report
The RPR Neighborhood Report summarizes economic, housing, demographic and quality of life information about an area. It’s an in-depth portrait of the people who live in a target area, in addition to key indicators such as job growth, unemployment, cost of living, quality of life, commute times and climate. The report also includes median list and sales prices, listing and sales volumes, and per square foot pricing on sold homes.
Run your RPR Neighborhood Report:
- To begin, visit narrpr.com.
- Select Research from the homepage top navigation, and then choose Neighborhood Search.
- Enter a neighborhood, zip, city, or county.
- Select Exact, Within, or Nearby from the dropdown.
- Exact will take you directly to the searched area. You’ll see five Neighborhood tabs: People, Housing, Economy, and Quality of life.
- Within allows you to choose from several neighborhoods.
- Nearby expands your results further.
- From the Neighborhood overview page, select Create Report.
- From the Reports page, confirm the Neighborhood Report is selected.
- Choose the specific elements to include or omit in the report by opening the below the name of the report type on the generation page.
- Choose the specific elements to include or omit on the report cover. These options are displayed in the right-hand sidebar, below the image of the report cover. Display your contact information, photo, logo and more. Show or hide page numbers.
- Personalize your report with a message.
- Choose a delivery method. Display the report as a PDF or email it to yourself or a client (or both). From the RPR app even text the report to your recipient.
- Press Run Report.
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