Listing properties is often seen as a real estate agent’s most glamorous work, but buyers also need expert agents.
If helping buyers find their perfect home is your specialty, use localized demographic data as your secret weapon to enhance your business. Let’s explore four ways to utilize it.
What is demographic data?
Demographic data encompasses statistical information about populations and their attributes. It serves as the foundation for demographic analysis, which examines population-based factors.
Help buyers find a property that will aid their commute
According to NAR survey results, 79% of respondents felt that walkability played a role in their property choice, while 78% stated they’d be willing to pay more for properties that are considered “walkable.”
However, while many homeowners desire proximity to their most frequented spots, others may want to live close to major highways if they drive a lot.
How homeowners commute is a personal and unique aspect of their lives that impacts their daily routine, making local commute data vital for helping them find the best home.
Help buyers find their ideal community using household composition data
The community surrounding a home influences the quality of life, making this a fundamental aspect homeowners consider when buying a new home.
For instance, families with children may prefer areas with other families so their children have other kids to play with and friends at a similar stage of life, making it easier to connect.
Household composition data shows a neighborhood’s compatibility by revealing the average number of people living in each property within a specified area.
Use total population data to help buyers find the age range that suits their lifestyles
A region’s average age range can impact a homebuyer’s sense of community.
Retirees, for instance, may seek areas with fellow retirees for social activities. As an agent, accessing total population data (including age range) is crucial for pleasing these buyer types.
Use income data to help landlords uncover rental opportunities
The average income of residents significantly impacts their spending power, AKA what they can pay for rent.
Landlords want to ensure the purchase price of a property aligns with potential rental rates to secure a substantial profit margin. Tapping into local income data as their agent can offer you an edge competitors may not have, making you the go-to agent for investors!
Find these localized demographic datasets and more: PropStream it!
Now that you know the importance of localized demographic data for your business, you may wonder where to find it.
Two words: PropStream It!
With PropStream, you can gain valuable demographic insights (within a one-mile radius) regarding:
- Housing type
- Income (average income, employment level, income brackets)
- Total population
- Household composition
- Highest education level
- Commute
In a competitive real estate landscape, having the most diverse information to guide your clients toward the home of their dreams is crucial.
Try PropStream for 7 days free to see these demographic datasets in action!
