Buying and moving to a new home is not just a financial decision for buyers; it’s an emotional one. Relocating to a new location can be stressful, and the fear of the unknown can cause buyers to hesitate, draw out the search and negotiation process, and ultimately, make the real estate broker’s job more difficult.
ATTOM’s Neighborhood Navigator is a solution that real estate brokers are using to help clients envisage their new lifestyle in a new location. Knowing what their new neighborhood and community has in store eliminates hesitation in the buying decision.
Here’s how Neighborhood Navigator can help real estate brokers achieve 90 percent client satisfaction rather than 90 percent client regret.
Eliminating Fear – The Obstacle to Closing Deals
So, you’re a real estate broker. You’ve found the perfect house for your client. It ticks all the clients’ boxes, it’s in the right price range, and you’re ready to start negotiating the terms of the contract. But wait, your client is hesitating and questioning whether this is the right move for them. What’s going on?
Fear. Fear stops people from moving forward in many aspects of their lives, not least of which is uprooting their families to move to a new neighborhood.
Successful real estate brokers understand the trepidation that their clients exhibit when making a life-altering decision. The best brokers strive to serve their clients by providing all the knowledge, tools, and assistance available to ease the process.
Buyers may question if it is the right move financially or if their chosen location will deliver the lifestyle they want. A study by Clever Real Estate reports that over half of home buyers (56%) find themselves “in over their heads financially” after purchasing their home, and almost two-thirds (62%) struggle to pay their mortgages each month.
And buying a home doesn’t just affect the pocketbook; it affects the psyche. LinkedIn reports that, according to studies, up to 90% of our decisions are influenced by our emotions, and when we relocate to a new area, our sense of identity and belonging can be lost. People can experience insecurity and instability when having to navigate uncertainty and unfamiliar territory.
How Neighborhood Navigator Serves Brokers and Their Clients
ATTOM’s Neighborhood Navigator can alleviate many of the financial and emotional concerns associated with relocating. The solution is integrated with your broker website, given your branding, and the data is accessed through an iFrame or stand-alone tool. Potential buyers can click on the tool and find out local information such as what the climate is like near their chosen property, what restaurants are nearby, and what the test scores are at the local schools. They can research the job market and economic data like median household salaries and average home prices. All of the data are a click away, and customized searches provide the exact data buyers may be interested in.
As a real estate broker, not only will your discovery process for clients be easier, but your success rate will skyrocket when your clients envisage their new lives. Show your clients that their new location offers even better amenities than those they enjoy now. Perhaps visiting friends and family will be easier because of access to key highways or a closer airport. Perhaps the cost of living at their new location will be lower, delivering a more luxurious home and lifestyle. Your clients will be excited to move and keener to close.
New digital solutions are providing vast amounts of new property data that reveal the conditions and trends in urban and rural communities. They allow researchers and urban planners to address problems like crime, food deserts, and discriminatory practices. These data allow service providers to assess demand in targeted areas, real estate brokers to more accurately set property prices, and real estate investors to analyze vast swaths of data and information on which to base their business decisions and strategies.
These neighborhood and community data are a resource for policymakers, but they are also a coveted asset for real estate brokers who want to serve their clients better and increase traffic to their sites.
Boost the Broker-Client Relationship
Brokers can close deals quicker if their clients are assured that their move is the right one. If clients have the information they need to feel confident in a decision, the quicker they will make that decision, and the quicker a transaction will close.
Offering ATTOM’s neighborhood reports through Neighborhood Navigator strengthens the broker-client relationship. Brokers will increase traffic to their websites and improve their reputation. ATTOM’s Neighborhood Navigator is a tool that helps brokers allay their clients’ fears by helping them envisage their new lifestyle in a new location.
Boost Traffic to Your Website
How does Neighborhood Navigator work? ATTOM’s solution integrates seamlessly with your existing website. Visitors to your website can easily find answers to their concerns from an iframe or a standalone tool with your company’s branding.
All of the data are accessible from one place, and users of the solution can customize their searches to obtain the exact data they need. Here are some examples.
- Quick facts, such as population statistics, average commute times, median household salaries, percentage of days with possible sunshine, and when homes were built.
- Community information, such as population growth since 2000, population density, average household size, and the percentage of households with children.
- Population demographics, including the age of the population and whether there are families with children in the neighborhood.
- Climate and weather data, including average temperatures, amount of rain, and weather risks.
- School information, including local school profiles and test scores.
- Employment and local economics data, such as household incomes, types of industry nearby, and employment data.
- Lifestyle information, for example, local gyms, restaurants, shopping, and parks.
- Recent home sales, including sales activity and price trends.
- Estimated home values.
Leverage a No-Risk, High-Return Solution
Remove the fear factor from the buying equation. Give your clients the neighborhood and community data they need to feel confident in their home-buying decision. Help your clients envisage their new lifestyle. Adding an easy solution like Neighborhood Navigator to your site is a no-risk way to boost your sales rates, improve your client relationship, and invigorate your business.
If you’re interested in helping your clients find their perfect neighborhood, contact ATTOM’s team today.