BY EMILY LINE
When working with clients, REALTORS® are generally given specific criteria needed to support a business. RPR Commercial pinpoints the "right customers" based on a client's needs. This analysis allows you, as a REALTOR®, to help your client find the best place to locate using various data to identify areas with a high volume of target customers for the business.
For example, a REALTOR® in Washington DC oversees office expansion for a technology company. The client has indicated they are looking for a location in Irvine, California. From a recruiting perspective, it's important for this company to have access to areas with young adults who have technology backgrounds. They also want to ensure that the location has projected growth to accommodate the corporate commitment of locating offices in areas with convenient, desirable amenities for employees.
Incorporating the client's criteria, you can run a location analysis by following a few simple steps. From the RPR Commercial dashboard, you would choose to run the analysis "Where are the Right Customers for a Business?". After entering the desired geographic, and selecting the attributes from the list in the drop-down menu, you can run the analysis.
After doing so, the REALTOR® is able to see the best trade area matches both on the map and in a list view based on the client's criteria.
From the results, the option to look for office space or take a deeper look into trade area details to reiterate the location selection with specific demographics and consumer segmentation. Let's say you elect to dive into trade area details for the top area that matched the client's criteria in Irvine. They are able to see details on the population including the following on the dominant consumer segmentation, driving home the corporate culture presented by the client and further validating your expertise as a REALTOR®. The analysis results highlight trade areas that meet a client's criteria and the trade area report validates location analysis.
All REALTOR® members have access to RPR Commercial as a free member benefit. Register for a LIVE tutorial webinar today at blog.narrpr.com/commercial