In the words of Warren Buffett, “Price is what you pay. Value is what you get.” So what types of data or subscriptions are commercial practitioners paying for and what do they get in return? Based on a study of various markets and commercial practitioner workflows, we discovered commercial practitioners spend anywhere from $2,000 to $20,000 annually on data to support business intelligence.
These subscriptions may include:
- On-market listing platforms: $50-$1,000 per month
- Aggregated public records data (property specifications, mortgage information, tax records, legal descriptions and building owner contacts): $20-$400 per month
- Tenant and business reports: $25-$85 per month
- Demographic and economic statistics: $40-$100 per month
- Financial analysis software: $40-$50 per month
While price ranges for these data sources vary dramatically, and may appear like a larger investment equates to stronger support for gaining and retaining clients, and closing more deals, that’s not necessarily the case. Without a single, streamlined source of commercial data, the majority of practitioners will piecemeal information from multiple sources, sometimes tied to extraordinary fee structures, and then incorporate the outcomes into one voluminous client presentation. The result is a report that not only lacks continuity but has consumed more than its fair share of a practitioner’s valuable time.
Commercial practitioners in search of smarter, more dollar wise ways of conducting business turn to Realtors Property Resource® (RPR®). The exclusive, REALTOR® only data and reporting platform offers the data a practitioner needs, from researching on-and-off market properties and business viabilities, to identifying current and predictive market trends, and even producing financial analyses to gauge return ratios at the end of hold periods –– all from one single sign-on system, RPR. In this instance, value extends far beyond price for an intuitive system that aggregates large amounts of data and quickly helps practitioners to access and accurately convey information.
RPR® Commercial includes:
- Over 320,000 active listings (including 106,000+ leasing opportunities)
- More than 35 million off-market properties (building, property specifications, tax records, mortgage information, and legal descriptions)
- 7 million+ tenants (direct contacts, phone number, time occupying space)
- More than 20 million business points of interest (address, type of business, start date, annual sales volume, number of employees, and square footage)
- 4 million+ published traffic counts (current and historical)
- Over 80,000 unique users of the Investor analysis integration powered by Valuate® with 155,000+ analyses generated
- Nationwide access to actual and predictive demographic and economic statistics and trends
With time, cost and quality in the forefront, RPR® delivers easy access to validating research without the aggravation of multiple sites and the strain of high subscription costs. In fact, there’s no additional fee for RPR® because it’s already incorporated into NAR dues.
Leverage all that RPR® Commercial has to offer by getting started today at narrpr.com.
RPR® is a member benefit offered by the National Association of Realtors® .