RealQuest – Very Expensive Label Maker? or Valuable Business Tool?
Maximize Your Investment!
First American Real Estate Solutions
In my time with First American RES, producers of RealQuest, I’ve talked with hundreds of Investors who use our program. What I often find is that most use it for simple property research and comps – perhaps for phone and mailing lists to certain property types – all of which it does very well.
But did you know that RealQuest’s sophisticated export features enable you to perform not just the day-to-day tasks of investing, but market analysis and planning as well? Here are just two examples:
We all know that vacant land in our area is a hot commodity – but WHICH areas in particular are experiencing growth and high-levels of investment/development purchase?
Run a Custom Search in RealQuest of 3-6 months of sales; Vacant land, in the county of your choice. Export your data in “Customize Fields and Export “ including all fields of relevance, such as Parcel Number, etc., but do include these: Owner Name and Owner Mailing Address. While many investment corporations are registered under multiple names, they almost always share the same mailing address. Sorting by this field will allow you to see if one entity (under different names) is buying up land in a defined area. This works for other types of property purchase trending scenarios as well.
Where are the investment opportunities now? With very few areas left in our counties with low-priced property, where can you find the quickest return on your investment?
If one assumes that the emergence of investment activity in a geographical market implies higher values of remaining properties in the near future, one can run a search in Custom Search in RealQuest using these criteria: Last 3 months of sales. Export your data in “Customize Fields and Export” including Geographical Parameters such as Zip Code, Subdivision, etc., as well as ALL Land Use Codes (there are 3: Land Use, State Use and County Use); Sale Date; Sale Price, and whatever else you fell will be relevant to you. You now get to “Jump on the bandwagon” of emerging market activity in the property types of your choice. For added fun, run comps on these properties every week or so to see if their market values continue to rise – you have UNLIMITED access!
* Note: Lynda McNally is a representative of First American, NOT a Real Estate professional. She is, however, pretty handy with Excel.