We recently chatted with REALTOR® and Resimercial specialist Kristin Smith about things she’s doing to stay positive and productive. Her best advice? “I love the Opportunity Zones feature in RPR. My investor clients are buying property right now based on investment opportunities I find in RPR Opportunity Zones. It’s a secret weapon, that’s not so secret.”
Bottom line? Invest time now in Opportunity Zones to pay dividends for your investors later. Here’s a brief refresher if you’ve heard of OZs, but you’re not quite sure what they are or how they’re applied.
Created in 2017 as part of the Tax Cuts and Jobs Act, Qualified Opportunity Zones (QOZ) were created to drive economic growth through long-term investments in economically disadvantaged communities by offering tax incentives to investors.
Opportunity Zones are a powerful data layer that allows REALTORS® to use RPR’s map interface to analyze and search for properties within the 8,700 Opportunity Zones throughout the U.S., in both our Residential and Commercial modes.
Residential practitioners who utilize Opportunity Zones will notice increased marketability of homes within the OZ, while Commercial practitioners are more likely to see less desirable properties turn into investment opportunities. Here’s how to quickly access this dynamic feature:
- You’ll access Opportunity Zones by searching a geographic area, and then from the Map click on “Show Geographies’
- Now select “Opportunity Zones” which will reveal shaded, peach-colored areas that qualify
- From here, analyze all properties that fall in the Opportunity Zone, review economic and demographic statistics for the area, and create reports for investors about the buying potential
- One extra tip: use the mailing labels or owner export in combination with Opportunity Zones. You’ll be able to reach out to residents and business owners in the area about the advantages of selling