Market analysis and research are significant parts of running your own real estate business. If you lack knowledge about your local market, you cannot offer real estate clients expert guidance in selling or purchasing properties or efficiently market to your target audience.
There are several online tools to help real estate professionals and investors analyze city data and demographics globally, along with tools that allow agents to conduct a competitive analysis of competition in their farm area.
As more market research tools become available, it’s challenging to know which ones are worth your time. We’ve gathered the top five online tools we believe are most helpful for your market research and analysis needs.
1. NAR Research and Statistics
The National Association of Realtors provides real estate agents with a database of updated research and market statistics through their research and statistics portal. The Research and Statistics page offers housing trends articles, metro and state data, and dozens of real estate forecast presentations.
Additionally, when you open the R&S webpage, there’s a real-time widget showing the latest housing indicators, including units sold, median price, new home sales, and more.
2. Mashvisor
Mashvisor uses machine intelligence to compile a list of investment opportunities within a given zip code. This platform is especially handy for real estate investors and property managers looking for lucrative opportunities.
Real estate agents can use Mashvisor to help find their clients investment properties on the fly. Mashvisor provides thorough real estate analytics, including seasonality trends, occupancy rates, cash flow calculations, and revenue potential.
If you have clients seeking investment opportunities, Mashvisor is your new sidekick.
3. NeighborhoodScout
NeighborhoodScout is an excellent tool for matching a real estate client to their ideal neighborhood. With over 600 characteristics to build a perfect profile, NeighborhoodScout is a reliable tool for real estate investors and clients with specific needs.
NeighborhoodScout is perfect for clients moving across state lines or to the opposite side of the country, too. You input a desired neighborhood zip code or address into the search bar and ask NeighborhoodScout to find a similar neighborhood in your client’s future location.
There are over 61,000 neighborhoods within the platform’s database, giving you valuable information and insight.
4. BiggerPockets
BiggerPockets is an online platform providing real estate professionals with education, tools, and resources to connect with like-minded individuals. While BiggerPockets is meant to guide real estate investors, it’s an excellent place to learn about your competition or find a real estate mentor.
In the Find an Agent tab on the website, you can search for real estate agents by city or zip code. The BiggerPockets database shows agent profiles and their number of listings. It’s wonderful for creating a competitive market analysis or seeking a mentor.
5. U.S. Census Bureau
Most market research sites use the U.S. Census Bureau’s data, so why not go straight to the source? The U.S. Census Bureau’s website offers in-depth data about American communities, allowing you to search by zip code, Congressional district, state, county, and place.
Browse tables, maps, and microdata related to demographics, commute times, health, economy, employment, and more.
Looking for more resources to master your market?
Virtuance offers real estate resources on our website, including a blog, webinars, guides, and a podcast. Real estate professionals can find market forecasts, lead-generation guides, listing presentation tips, and more.
In addition to resources, we offer real estate photography that can take your listings to the next level. Along with professional real estate images, every order has access to our Marketing Suite, a digital marketing platform for promoting listings and generating leads.
