Archive for Altos Research
I saw an interesting article on RISMedia today. Prudential in Chicago has just announced “a new consumer-friendly online information tool.” Sound familiar?
Pru says that they wanted to provide a brand new type of real estate market information that is updated weekly and replaces outdated services that provide information updated no more than monthly, and that might be updated quarterly or annually.
Giving their clients easy access to real estate market information allows the clients to make the best real estate decisions because they are completely up-to-date on the latest market trends. The reports provided even include interpretation of the statistics to assist clients in absorbing the information. Imagine.
Pru even gave the service a name: the Preferred Market Watch tool, and they say that they’re excited to be taking clients into a new world of information access.
Have you figured it out yet? I mean why there’s a quote around the word “new” in this blog title?
Prudential in Chicago is providing information from Altos Research.
I’m not being critical. I think it’s great that they are aggressively differentiating themselves in the market, and providing the current market information their clients need. And, from a marketing perspective, branding the service and making a splash about it is an excellent approach.
Just remember that you heard it here first! September 24, 2007: Real Estate Marketing Tips 
Free Market Price Chart from Altos Research
· CommentsIf you’re not familiar with Altos Research, you should remedy that situation today. Altos Research provides detailed, real-time real estate market statistics to consumers and real estate professionals.
As consumers get more sophisticated, and differentiating yourself in the marketplace gets more difficult, providing market statistics, and knowing how to interpret them, is an excellent tool.
I didn’t know until recently that you can use one of Altos Research’s charts for free. Altos doesn’t provide information for every market area across the US, but if they’re in your market, you’ve got a golden opportunity.
A sample of the free chart is shown at the right. This one is for San Jose, California. It shows the median home price in San Jose over the last 12 months, and it is updated regularly.
Looks like San Jose prices have taken a beating. But, as you know, the only way to make informed decisions is to have valid information on which to base those decisions.
If you’re interested, you can check if Altos provides data for your market area and get a free real estate market price chart for your market area.
You can also get more information about Altos Research’s complete real estate market statistics for real estate professionals.
Note: In case you’re wondering, I don’t have a business connection with any of the vendors I mention on this blog, except that I do partner with Point2 Agent and Blackwater/Compass to provide client services. If that changes, I’ll let you know. In this case, except for thinking Scott Sambucci is a pretty great guy, I have no relationship with Altos Research.
Zillow Announces Smart Search
Zillow is at it again. They’ve introduced new capabilities for their search, and you can read about it at their media room. Here’s an excerpt from that Smart Search news release:
” ‘Smart Search sets a new standard for online real estate search and solves one of the biggest challenges on the Internet today by taking an enormous amount of data and displaying it in a way that is easy to digest and meaningful to each of our users,’ said David Beitel, chief technology officer at Zillow.”
Some of the new capabilities have to do with providing additional real estate market information, map searches and easily accessible community information on the home search pages. It seems to me that this could have ripple effects throughout the industry.
Will Third-Party IDX MLS Vendors Start Responding?
I think that third-party IDX MLS vendors should be seriously considering expanding their offerings, too. Wolfnet has a great map search. And, Birdview incorporates mapping and community information. It seems to me that the third-party vendors should be planning to offer capabilities that rival some of those offered by sites like Zillow to keep their customers competitive.
How Will Agents Respond?
As there is more information available online, agents will need to consider ways to keep pace with their own websites. Depending on your budget, you have a number of alternatives:
- Take advantage of paid services, some of which have been discussed on this blog before, including real estate market condition information from Altos Research, or school information from GreatSchools.net.
- Create interactive maps to give your visitors an overview of a neighborhood.
- Provide links on your community pages to free online resources.
There are lots of sites that provide free information. It’s not as effective as having the information integrated into your site, but if your budget doesn’t allow for that, consider some of the freebies.
For example, The RealEstateJournal has information on schools and communities. You’d have to open those sites in a new window, but at least with the Journal, it isn’t as easy for your visitors to find other agents.
The best way to take advantage of the online sites is to provide a link to a specific page rather than expect your visitors to flail around on a second site to find what they need. For example, if I had a page on my site about Peachtree City, GA, I’d provide the following links:
Learn more about Peachtree City, or research local schools. Those two links go directly to the pages your visitors want to see. It’s a simple process to do the search yourself, then copy the URL in your browser’s Address Bar once you find the page you want.
And, the RealEstateJournal is just one of many sites that provide community information. The resources are out there.
Stay competitive and start including a broader range of information on your website!
Slow Markets Make for Nervous Buyers and Sellers
Slow markets make everyone nervous. Sellers are afraid their homes won’t sell, or go slightly batty trying to hold out for an unrealistic price. Buyers are afraid their new home will depreciate the minute they sign the closing papers, and at times they have so many choices, they often take forever to make a decision.
What can you do to help counteract these problems? Give your clients facts they can use to set realistic expectations and to make decisions with confidence! For example, what if you could easily do the following types of things:
- Help your buyers choose neighborhoods by showing them which neighborhoods have a history of increasing appreciation, or those where prices have bottomed-out and are starting to rebound.
- Help your sellers stick with a marketing plan based on a clear understanding of typical days-on-market and price trends in their neighborhood.
You may be thinking: “Sure, that would be great if I had all day to compile statistics and make pretty charts!!”
Altos Research to the Rescue!
Luckily, you don’t have to buy an eyeshade and sleeve protectors. Altos Research is doing the work for you:
“Altos Research has developed a unique technology platform that gathers real estate data, analyzes it in real time and creates analytical reports for local markets. The patent-pending system gives you a snapshot of important trends in today’s market: prices, supply and demand, and insight into where the market is heading.”
The market information Altos Research provides is updated weekly. You can’t get more current than that. If there’s a change in your marketplace, you’ll be the first to know about it and respond to it, leaving your competitors in the dust.
And, with the power of the market information behind you, you’ll make a big impression on your prospects, before they’ve even met you!
You can get an overview of the type of market information that is available by reviewing the Altos website page geared for consumers. Then, check out the information for REALTORS®. You’ll have access to information:
- For Your Website: Charts that can be easily added to your website with no coding knowledge required. These charts are “live”, meaning that they update every Monday right on your website.
- For Your Clients: Multi-page reports are available in PDF format so that you can e-mail them, or print out hardcopies to distribute. The reports are branded with your photo and/or logo and contact information, and they include analysis notes in addition to the chart data.
Pricing for access to the market statistics vary depending on the coverage area. As of this date, pricing ranges from $19/month to $150/month and up. The service is not available nationwide – yet. Areas are being added regularly, so even if you don’t see your market listed in the coverage areas, be sure to call to verify availability.
4 Great Reasons to Become a More Knowledgeable Market Expert!
- Increasing the stickiness of your website. What better way to motivate people to return to your site than displaying valuable information that updates weekly?
- Improving your competitive edge. Offering this type of in-depth market information will quickly peg you a step above your competitors.
- Strengthening your negotiating position. Whether you’re working with buyers or sellers, you’ll have solid information to backup your negotiating position. In fact, you might just leave your counterpart in the transaction with their mouth hanging open.
- Offering better service to your clients. To me, this information isn’t just unique website content or a great marketing tool. I think you’ll see your market area in a completely different light, and you’ll be able to give your clients more valuable advice than ever before!
