Property sales reports come in many different shapes and sizes. Depending on the report, a real estate professional may discover detailed information about a few different properties or high level information regarding the general sales trends in an area. Keeping track of local information can significantly strengthen your ability to identify properties and create a compelling marketing and sales campaign.
Finding and using specific local information (vs. general market trends) can help realtors, property managers, appraisers, and other real estate professionals expand their value propositions to clients.
Technology Expands Information Available in Property Sales Reports
Historically, property sales reports were fairly simple. They included basic information regarding sales pricing, tax information, and other public record information. Today, a real estate professional can use property sales reports generated online to discover specific information regarding property taxes, utilities, property issues, and the property’s history.
With a simple search, a realtor can create a customized mailing list for properties that are more willing to sell based on recent sales information. The ability to access comprehensive data for a geographical area can improve your ability to identify prospects and create commercial and residential real estate opportunities.
Here are 3 major benefits property sales reports offer real estate professionals:
- Identify Buying/Selling Trends in the Area – At its core, a property sales report offers listings of recent sales and relevant legal information. Real estate professionals use this information to create a map of geographical interest. Depending on your property focus and location, use the sales records to develop a list of legacy property owners who are unlikely to sell, properties with high rates of sales nearby, and gray areas that need further information.
Depending on the tool, you can use a sales report to develop a customized mailing list targeted at those most likely to consider selling or moving to another location. Reaching out to these individuals can improve prospect interest rates and may lead to a buying/selling agreement. Use the sales record to create a personalized real estate pitch with details about properties in the surrounding areas.
- Confirm Property Information Prior to Marketing a Property
A single home or concentrated property sales report may include more in-depth information than a higher level report. Real estate professionals helping both buyers and sellers must meet certain standards when marketing a property. Failing to offer the complete background of a home could result in legal liability in the future. An in-depth property report may contain information regarding past problems with the foundation which may make a property less marketable.
Certain qualities of the land may improve or hurt future sales. A real estate professional who understands every aspect of a property stands a better chance of creating a relationship with prospects based on trust and demonstrable knowledge. If you have trouble finding information from a local office or current property owner, consider checking property sales reports to fill in the gaps.
- Create Accurate and Competitive Appraisals
To develop interest and provide value to buyers and sellers, real estate professionals must understand how to create a strong appraisal. Whether you help individuals understand the true worth of their home or want to build interest in nearby properties for sale, you can effectively use property sales records to create an accurate and competitive appraisal.
With information regarding nearby sales and home features such as square footage, property acreage, and added value features, you can develop a customized price range that makes sense in the market. Since there is usually some discrepancy between the market value of a home and the listing price, understanding the full value of a home in the context of surrounding properties can improve its ability to sell.
Finding Local Property Sales Reports
Real estate professionals can use local reports of sales records from the county of interest, but you may have to dig through public records to compile a report for multiple properties. Instead, look for a state or local directory that offers comprehensive reports in an easy to read format. With a simple monthly subscription, realtors and other real estate professionals can easily scan through information that may help them improve their marketing and sales. Some tools even allow users to compile personalized mailing lists to generate interest in the market.
For any real estate professional looking to improve property profiles and secure qualified leads, a property sales report is a great addition for your resource pool. Consider adding a local report resource to your marketing kit to take advantage of the comprehensive information available on property records, maintenance, utilities, sales, and land use.
