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 and analysis 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

We all know Zillow is a go to when it comes to listing properties, but they’re so much more than that. Prices and pretty pictures are important, but they don’t stop there. As easily one of the most recognized names in the real estate realm, Zillow offers research tools that go way beyond the basics. 

Forecast Market Trends with Predictive Analytics

Zillow is packed with valuable data that can help you understand property valuation and market/housing development trends. They not only provide research data tools for home valuation, but also allow you to check out a forecast with predictive analytics. The platform also supports comparative appraisal research, giving agents a stronger foundation when justifying listing prices to clients.

Track Listings for Smarter Pricing

Zillow also tracks recent transactions and housing and rental listing engagement, helping agents understand market interest before scheduling showings. This data leaves you more confident in the valuation of homes and advising your clients on when to buy or sell, and prepare for the right mortgage strategy.

NeighborhoodScout

NeighborhoodScout stands out in the way it breaks down neighborhood data for better insights. This is an ideal site for agents who want more info on listings than just prices and square footage. They put you in the position to help your clients understand the full character of an area.

Analyze Neighborhood Demographics and Crime Rates

NeighborhoodScout is excellent at helping you understand areas better. They provide comprehensive reports on demographics, crime, schools, and the long term forecast. If a client is focused on finding a family friendly neighborhood with excellent schools and low crime rates, this app has you covered with an in-depth analysis. This key information also helps agents understand factors that may influence a property's appraisal value.

Find the Next Investment Location

If your clients are looking for a neighborhood with high investment potential, you’ll be able to pinpoint areas with rising property values, active development, and good rental yields. While they focus mostly on residential properties, their data can also be quite useful in determining the success of commercial ventures as well. All of this is presented in a simple, user friendly format, saving time and making you the local expert.

Pinpoint Desired Neighborhoods

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 or similar listings, and discover other housing areas that match the demographics,character, and feel of their ideal neighborhood.

NAR Research and Statistics

For data backed by the industry’s top source for information, NAR (National Association of Realtors) has some of the most trustworthy statistics available. You can be safe in knowing that your stats are up to date and reliable. As any residential or commercial sales expert knows, accurate statistics are necessary when advising your customers.

Access Nationwide and Local Housing Data

NAR’s Research and Statistics page offers a wealth of information for agents. They gather extensive reports that cover local residential and commercial market data and nationwide trends. Whether you're looking for information on home prices, inventory levels, recent transactions, or sales activity, NAR provides current, reliable data that helps you understand the full picture of the market. 

Use Free Infographics to Educate Your Clients

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. Taking out a mortgage and buying a home is a huge endeavor, and it's your job to make sure your buyers make informed decisions.

Mashvisor

When it comes to working with investors, you need tools that look at ROI, rental income, and location growth potential. Mashvisor excels in this area, with features accessible for both beginner and experienced investors looking to create a winning rental and sales strategy. 

Compare Short and Long term Rental Performance

If you work with real estate investors, or are an investor yourself, Mashvisor is a must have tool for evaluating property and mortgage potential. Their software helps you identify opportunities by providing data on both short and long term rentals. This can be particularly helpful when evaluating properties in areas undergoing rapid development, where growth is expected to continue.

Use Investment Metrics

Mashvisor 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. This kind of analysis is especially useful during the property appraisal process, ensuring investment properties are fairly evaluated before purchase.

Estimate Returns with the AirBnb Calculator

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 transactions 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.