School data, Neighborhood data, Demographics data, Local Content, Local Profiles
– With its solid understanding of its clients’ needs, Royal LePage searched for a comprehensive data solution to deliver location insights that would empower home buyers in their purchasing decisions.
– To provide more meaningful context on a property’s surrounding area, the company added Local Logic’s School, Neighborhood, and Demographics data to each of its listings.
– Royal LePage generated an additional 10% leads within the first year of launching Local Logic’s location intelligence solutions, increasing that number to 30% the following year.
Traditional real estate data, such as the year of construction, type of renovations, and specific features such as parking, can account for 52% of a property’s value. But the remaining 48% 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, data-driven solutions are increasingly being used by the real estate industry to uncover a property’s full value through better location insights.
Company — Royal LePage helps Canadians buy and sell their homes across 600 locations from coast to coast
Royal LePage is a leading real estate company in Canada with a rich history dating back to 1913. The company has grown significantly over the years, establishing a network of more than 20,000 real estate agents across 600 locations from coast to coast.
At Royal LePage, real estate is both a passion and a business for the company and its agents. The company’s team of dedicated professionals is committed to helping Canadians buy and sell their homes and supporting communities across the country. With a strong focus on customer service and innovation, Royal LePage has become a trusted name in the Canadian real estate market.
Challenge — Acquiring multiple datasets from one single source
When it comes to finding a home, Royal LePage knows exactly what kind of information people are looking for. Acquiring and delivering these insights in a meaningful way, however, is the challenge.
Acquiring data on each neighborhood
When Royal LePage identified which information is crucial for home buyers, it knew it would be challenging to get accurate data about the areas where their listings were located. The real estate company needed precise details on schools, demographics, and neighborhood characteristics that would convey in a concrete way what a property’s location value is.
Displaying data in a meaningful way
Having the right data is one thing — but displaying it in a way that users can connect with and benefit from is another. Meaningful information on location draws people in, empowering them with valuable insights beyond what’s within a property’s four walls. Easy access to these insights delivers a more pleasant home-buying experience, which instills more confidence in clients during their decision process.
Obtaining multiple data points from one single source
Though several providers are able to offer demographic information for an area, Royal LePage found it difficult to obtain all the datasets it was interested in, such as school, services, and neighborhood character.
The company knew what its customers wanted, but it needed a single source of information to avoid going through multiple channels. Until now, no comprehensive solution could provide all these different data points in one place.
Royal LePage partnered with Local Logic, a location intelligence solution that digitizes the built world for consumers, investors, developers, and governments. Local Logic delivers actionable insights and precise analytics on over 250 million individual addresses in Canada and the United States.
Other data providers did not have a location dataset as comprehensive as Local Logic’s. While some companies could only provide demographic information for an area, Local Logic offers a full range of location data.
Royal LePage received everything it needed from Local Logic, including school and neighborhood data, demographics, and easy-to-use widgets. With this information, the company was able to enhance each of its listings with relevant content, allowing users to get a better understanding of the areas where properties were located.
School data was one of the most valuable integrations for Royal LePage. To assist families searching for their next home, the company helps parents find properties close to their preferred school and access school details, such as boundaries, type, language, and board affiliation.
Interacting with Local Logic’s Local Profiles allowsusers to better understand whether a neighborhood is right for them. Every listing on Royal LePage provides a detailed map and Location Scores that allow home buyers to determine whether an area has characteristics that cater to their desired lifestyle.
Using Local Logic’s demographics data, Royal LePage is able to display the population composition of the area to its users. The dataset contains robust information about the population anywhere in Canada and the US. It showcases employment type, average household income, household structure, education level, commute mode, mother tongue, and housing type, among other factors.
Each of Royal LePage’s listings displays an overview of characteristics that matter to the home buyer through Local Logic’s Local Content SDK. The latter provides a comprehensive understanding of any property’s location in Canada and the US. As users browse through listings, they can visualize different narratives based on which neighborhood characteristics they value most.
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 that specific criteria
Commute time functionality
A new version of our Local Content SDK is being released, and soon, Royal LePage will be able to implement a streamlined version to help clients make more informed real estate decisions. Some of the updates include categories that group related scores together for easier navigation as well as comparative city averages.
Results — Royal LePage increased its lead pipeline by providing meaningful context to home buyers
Through hyperlocal neighborhood data and the implementation of Local Logic’s SDK and API, this partnership yielded:
– A significant lead generation increase within a year
– More meaningful context for home buyers
– Ease of use and integration
Increase in lead generation
Royal LePage’s partnership with Local Logic helped them generate 43% more leads. Within the first year of launching with Local Logic, Royal LePage saw a 10% increase in leads, which grew to 30% by the second year.
Meaningful context for home buyers
Home buyers want access to data that matters to them — data that helps them better understand the neighborhoods they might want to live in.
By integrating hyperlocal data from Local Logic into their property listings, Royal LePage provides consumers with deeper insights into the area where a home is located. People can get a better feel of what it is like to live in the neighborhood and if it is a good fit for them. When buyers are aware of the unique value that location brings to each property, they can make more confident decisions on where to purchase.
Ease of use and integration
One of the things that Royal LePage enjoyed the most about Local Logic’s products was how easy they were to use.
Using Local Logic, Royal LePage can access and display all the data it needs without relying on multiple providers. By obtaining aggregated data from a single source, the company had fewer integrations to implement, reducing its workload while saving time and money.
A collaboration with Local Logic allowed Royal LePage to:
– Get precise and accurate location data by neighborhood
– Provide meaningful context and added value to clients
– Reduce their workload and expedite their integration timeline