Top Data Analytics Tools for Real Estate Agents

Crystal 

Walker

Content Writer

Our real estate market is causing us to adapt - it’s dictating that we have the right tools to make informed, data driven decisions. As an agent, you’re juggling numerous tasks, from pricing properties to locating the right buyers. 

Through the use of data analytics you can refine your processes, improve client outcomes, and stay on top of future trends. More data means more opportunities to serve your clients better and stay competitive. With the right tools, you can turn insight into action and position yourself as a real estate expert. Here’s a rundown of some of the best data analytics tools for real estate agents. 

Zillow Research Data

Zillow is likely the first app that comes to mind when you think of real estate, and for good reason. It’s packed with valuable data that can help you understand property values and market trends. Zillow not only provides research data tools for home valuation, but also allows you to check out forecasts with predictive analytics. In addition, they track home and rental listing engagement, helping agents understand market interest before scheduling showings. This data leaves you more confident in the pricing of homes and advising your clients on when to buy or sell.

NeighborhoodScout

NeighborhoodScout is excellent at helping you understand areas better. They provide comprehensive reports on demographics, crime, schools, and long term forecasts. If a client is focused on finding a family friendly neighborhood with excellent schools and low crime rates, this app has you covered. If they're looking for a neighborhood with high investment potential, you’ll be able to pinpoint areas with rising property values and good rental yields. All of this is presented in a simple, user friendly format, saving time and making you the local expert.

Their “Match Any Neighborhood” tool is a stand out feature, comparing neighborhoods based on more than 200 characteristics. Users can input the address of any desired location, and discover other areas that match the character and feel of their ideal neighborhood.

NAR Research and Statistics

NAR’s Research and Statistics page offers a wealth of information for agents. They gather extensive reports that cover local data and nationwide trends. Whether you're looking for information on home prices, inventory levels, or sales activity, NAR provides current, reliable data that helps you understand the full picture of the market. Unlike some other tools, this page is free to use and a great place to start your market research. Some of their data is also presented in an easy to read infographic, making the information even more accessible and meaningful for you and your clients.

Mashvisor

If you work with real estate investors, or are an investor yourself, Mashvisor is a must have tool. Their software helps you identify opportunities by providing data on both short and long term rentals. The app allows you to filter properties by investment potential, showing you metrics that matter most to investors, like occupancy rates, rental yields, and even long term growth projections. Their AirBnB Calculator, created from AirBnb property data, gives insights on potential rental income and profitability, helping you decide whether or not to take the plunge on a new investment.

Data Driven Decisions are Key

The right data analytics software can make all the difference in the profitability of your real estate business. Taking advantage of top platforms can simplify your processes, while offering your clients the expert advice that will help you stand out in a competitive market. The more data you have, the better you can predict trends and ultimately close more deals.

If you’re seeking to fine tune your pricing, identify investment opportunities, or get a grasp on the intricacies of a neighborhood, these tools give you the insight you need to stay ahead of the game. The bulk of your decisions in your business should be based on accurate data, and all the resources you need are available at your fingertips. Integrating data analytics tools helps your clients feel secure that they are trusting an expert with their real estate and financial decisions. Work smarter and explore the tools at your disposal to take your business potential to the next level.

Find more information on boosting your brokerage with expert data analysis and smart technology in our article on real estate CRMs.