Traditional real estate data, such as the year of construction, type of renovations, and specific features such as parking, accounts for 42% of a home’s value. But the remaining 58% is derived from its location, which includes accessibility to transit, amenities, and the character of the neighborhood. Yet, location value has traditionally been difficult to quantify.

Today, the real estate industry has been increasingly turning to data-driven solutions to uncover a property’s full value through better location insights.

Company

REsides offers real estate professionals the most reliable and powerful data in the market through leading technology solutions

Headquartered on Hilton Head Island, REsides is a real estate technology provider and multi-state Multiple Listing Service (MLS) that facilitates more than $4 billion in annual real estate transactions. They are a premier destination for all things related to home buying, selling, or renting, with borderless listings and data that help consumers find their next dream home.

As an independent real estate information network, REsides is committed to pushing the industry forward through innovation and information sharing.

Challenge

Enhancing real estate websites with more value-added features

REsides wanted to enhance its real estate listings and website with new features to provide more value to consumers and subscribers.

To stay competitive, the MLS has to ensure that its website offers data that satisfies the needs of home seekers. Consumers need data that facilitates their decision-making when shopping for a new home. They want information that not only includes property details but also gives a comprehensive picture of the neighborhood that they are looking to move in.

Solution

Local Logic’s comprehensive location intelligence solution delivers granular neighborhood insights to agents and brokers

Local Logic is a location intelligence solution that digitizes the built world for consumers, investors, developers, and governments. With our unique location dataset of more than 75 billion data points, we can offer predictive and precise analytics on over 250 million individual addresses in the U.S. and Canada.

As part of their initiative to enhance their website content, REsides added Local Logic’s data to their main site as well as to the agent and broker websites that are provided to their subscribers. Agents and brokers are given access to Local Logic’s hyperlocal insights, such as neighborhood characteristics and demographics, enabling them to better serve homebuyers by gaining a more in-depth understanding of different areas.

Using Local Logic’s Local Content and Local Demographics widgets, REsides was able to simplify the process of extracting meaningful insights from data, and shared that information with agents and brokers.

By helping the latter combine their own personal experience with access to deep neighborhood insights, REsides empowered its subscribers to:

1. Become local experts who can help consumers make better-informed decisions on where to live based on their lifestyles
2. Expand consumers’ search to alternative neighborhoods with similar lifestyle amenities at lower price points

Local Logic’s solutions are a great evaluation tool that helps paint an accurate picture of a neighborhood. Our data shapes a story around a location, so people can get a feel of what it’s like to live there and determine whether the area is well-suited for their lifestyle.

Local Content

Local Content provides a comprehensive understanding of the location of any property in the U.S. and Canada. It can be added to any site and provides an overview of the characteristics that matter to the home buyer and renter.

Local Content offers the following:

• 18 distinct Location Scores to evaluate the desirability of a location by identifying nearby amenities and the type of lifestyle home buyers can enjoy
• 0-10 rating for each score and a sentence describing the environment for that specific criteria
• Commute time functionality

This integration helps visualize different narratives based on the neighborhood characteristics that home seekers value most as they browse different listings.

Local Demographics

Using Local Logic’s Local Demographics widget, REsides is able to display the population composition of the area to its users. The dataset contains robust information about the population anywhere in the U.S. and Canada. It is organized by categories, such as:

• Income and employment
• Population count and age
• Housing tenancy and type
• Family and household composition
• Education level
• Commute mode
• Spoken languages and mother tongue

Results

REsides provides its subscribers with a competitive edge through precise and meaningful location insights

Competitive edge for subscribers through in-depth neighborhood expertise

By integrating hyperlocal data from Local Logic into their MLS property listings, REsides provides its subscribers with deeper insights into the area where a home is located. Access to detailed neighborhood context allows agents and brokers to establish themselves as local experts, equipped with in-depth knowledge that helps them support homebuyers throughout their purchasing journey.

With location data, people can get a sense of an area’s lifestyle and decide whether it’s the right place for them. Home seekers who understand the unique value that location brings to a property can make a more confident and informed decision about where they want to live.

Easy implementation at a reasonable price

One of the things REsides enjoyed most about this partnership was the integration process. REsides implemented Local Logic’s widgets swiftly and at an affordable cost.

Designed with an intuitive, simple interface, these widgets are easy to use and require little maintenance, reducing the workload for REsides’ development team. As a result, REsides was able to enrich its websites without adding much to its timeline.