Geographic area heat maps may not be so hot for real estate agents wanting to know if individual homes on the market are hot or cold.
Market2Buyers, a Southwest Florida lead incubation company, has created a mapping tool that will visually identify homes priced above or below market, as well as their relative days on market. Green homes are priced below market, red are above.
And you know those static house pins? Well, the map will display the pin size for a house based on a model of the selller’s motivation according to a formula involving days on market, number of repricings, and range of repricings — a small circle for homes new to the market and/or less motivated sellers, larger circles for those languishing with more motivated sellers. The home data currently comes from the Sunshine MLS. The company plans to add other MLS home data beginning with the MidFlorida MLS in December.
This patented mapping application was co-developed by Michael Lissack & Map Team. It was designed to help buyers and buyers’ agents.
Michael gave me a sneak peak at NAR’s convention in Orlando.
I can’t comment on the efficacy of their lead incubation model but I really like the idea of the mapping tool because it presents information in a way that is understandable at a glance. It is likely to spark buyer interest and conversations with professionals. And move homes.
BUYER TIP: As with any valuation tool, it is good to have an experienced real estate agent and/or appraiser make a physical examination of a home. There may be a very good reason why a home is red or green. And don’t forget the unzillowables.
Good luck to Market2Buyers.com
Technorati Tags: cool tools, real estate technology, market2buyers
