Want to be the Expert in Your Market? Start Mapping! February 14, 2012 Commercial Real Estate, Online Mapping, Real Estate By: Richard Lin Share: TwitterFacebookLinkedIn As you’ve heard us say before in this blog, we love maps and mapping! Mapping is all around us and has permeated our world in ways that many of us don’t even realize. Industries like health care, government, transportation, utilities, and more all use mapping to effectively and successfully conduct business. But for real estate, mapping has a special connection. Mapping and real estate are a match made in heaven and we are going to share some tips on how you can exploit this relationship to start mapping and become the expert in your market. Why Spatial Technology is Important for Real Estate Let’s start off by discussing it’s important to start mapping. Besides being pretty to look at, maps provide an opportunity for deeper analysis. With maps, you can view patterns and trends that might be missed in their tabular form. Maps provide people with context; you can look at a map and immediately understand where you are in relation to everything else. And that’s just scratching the surface; we could easily write another post on why we love maps so much but we’ll save that for next time. Leverage GIS Technology to Win More Listings So how can you leverage the benefits of mapping to show off your market expertise and win more listings? Data! Data is everywhere and when mapped effectively highlights your market knowledge. Some important datasets that you can track and showcase on your map include transactions, property values, distressed assets, and inventory. Collect, map, analyze, repeat. This process establishes credibility and reinforces your market expertise. Data is the Key to Becoming a Real Estate Expert But don’t just stop there. You are reading this because you want to be the market EXPERT right? Emphasize your market knowledge by adding your unique perspective to the map. You can do this by combining various datasets that illustrate interesting relationships and might otherwise be hard to capture. In addition, styling your data is an excellent way to provide meaning and take the data to the next level. Finally, you’ll want to present your map in a way that asserts your market expertise. Clients have different needs; tailor your map to present what is relevant to each one whether it be property values, past sales, hazards, or retail locations. For your short-list why not create a “custom” collateral piece? They’ll appreciate the time and you’ll solidify yourself as the market expert. By following these tips you’ll be the market expert in no time but in case you want to learn more, contact us today!