Today, 17 leading real estate brokerages in the northeast announced the launch of the New England Buyer Graph. The initiative, like the other regional Buyer Graphs already at work, helps provide market transparency in the face of changing and volatile market conditions.
Here’s all of our founding members:
“RealScout’s Buyer Graph data gives us new and compelling ways to visualize market data,” said Anthony Lamacchia, Broker/Owner and CEO of Lamacchia Realty. “The heat map and buyer price brackets are excellent tools for not only advising sellers who are coming to market or need price adjustments, but also helping buyers make informed decisions in tough markets.”
As the real estate market nationwide continues to be affected by social and economic restrictions from COVID-19, historical market data cannot be exclusively relied on to make sense of the real estate environment. Our buyer graph tools provide insights into home buying clients actively searching with their agents on RealScout, enabling brokerages and agents to make informed decisions around transaction timing and pricing, and provide confidence-building market insights to their clients.
This summer, RealScout debuted new features that make the Buyer Graph even more valuable to agents, brokers, and consumers. Utilizing pooled and anonymized buyer data, new geographic heat maps can show in real time where buyer attention is most concentrated. Data on buyer preferences, meanwhile, is analyzed to show how many buyers may be searching in a particular price range and in a particular location, helping sellers and listing agents sharpen pricing strategies.
“With continued uncertainty in the larger economy, we hear about sellers lacking confidence in putting their homes on the market, leading to tight inventory across the country,” said Andrew Flachner, President and Co-Founder of RealScout. “When listing agents are able to gauge and share data about buyer demand, clients can build the confidence they need.”
Accessing buyer graph data in Boston, for example, can reveal which neighborhoods garner the most listing page views and how that has changed in recent days. The Test-the-Market tool can show what impact small adjustments in list price may have on the volume of buyer-matches, among other listing specific insights. As market conditions change day-by-day, these insights can help listing agents engage their seller clients, produce highly relevant listing presentations, and craft well-informed pricing (and price adjustment) strategies.
“With growth in adoption of the RealScout platform in our New England markets, we are using the RealScout Buyer Graph tools to inform our buyers on the competitiveness of certain markets,” said Slater Anderson, Managing Director of LandVest. “The feedback from our brokers is that the RealScout platform has increased client engagement compared to traditional platformsMLS property alerts or third-party syndication sites. And our brokers are seeing significant savings with their most precious resource: their time.”
RealScout’s award-winning home search platform, which was recognized recently as one of the top resources for real estate agents (Source: RISMedia), enables high-touch collaboration with buyer clients during a time when agents can’t be physically present for much of the clients’ home search. The insights generated from this buyer activity is securely anonymized and repackaged to power the New England Buyer Graph alongside nine other regional Buyer Graph initiatives.
The New England Buyer Graph, like all Buyer Graphs, is open to any brokerage. Broader participation in a Buyer Graph improves market transparency and benefits real estate consumers by powering even more data-driven decision-making. In markets where Buyer Graphs are not yet formed or announced, brokerages can opt to anchor a brand-new initiative with peers in their market. To join an existing Buyer Graph or to inquire about starting a new Buyer Graph, contact buyergraph@realscout.com. Learn more at learn.realscout.com/buyergraph.
