As a commercial real estate professional, you know the importance of providing clients with competitive location options and visually appealing presentations. An essential tool in this process is real estate mapping.
Creating such a map can be time-consuming if you use traditional tools such as a spreadsheet and CRM, which is why many professionals are turning to real estate mapping and analysis tools.
The most commonly used tool for these tasks is real estate mapping software, which includes territory and demographic analysis.
What Is Real Estate Mapping Software?
This program plots your location-based data on an interactive map. You simply upload or input your data manually or with a spreadsheet, and the software creates a map for you.
You can then customize your map with demographics or divide the map up into different territories. Some software will also let you filter the data that appears on your map.
Additionally, many programs work with Google Places, allowing you to compare your locations with competitive sites.
Let’s take a closer look at the features of real estate mapping software.
Features of Real Estate Mapping Software
While different programs will offer additional features, there are some essential tools that your software should have if you want to organize and present your data in a comprehensive and visually appealing way.
Ability to Import a Spreadsheet
When you have a lot of data, the last thing you want to do is import it manually.
This is why any real estate mapping software you choose should let you upload multiple spreadsheets.
Pin Maps in Real Estate Mapping Software
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A pin map gives you a simple visual representation of all of the properties that meet your client’s needs. This will give your clients an excellent overview of what’s on the market and help them narrow down the most appealing locations.
Access to Data from Google
Data from Google is an excellent resource for real estate agents and their clients. You definitely want a real estate mapping program that utilizes the data available on Google, especially Google Places.
Google Places provides information on points of interest using location intelligence. Essentially, you input a location, and Google provides a list of what’s in that area.
You can then refine your search by restaurant, activity, shopping, etc. This means that if your client is looking for a shoe store location, you can get a list of all the shoe stores near a prospective site. This will help ensure that your clients aren’t too close to a direct competitor.
When you’re dealing with a large amount of data, you want to be able to sort through it to find the information you need quickly. This is where a filtering tool comes in.
A filter tool allows you to sort through your map based on specific criteria so that only the sites matching your specifications are displayed. For a filter tool to work correctly, you’ll need to make sure that each property on your map includes the stats and features that most clients want to know.
This includes square footage, zoning, occupation status, building amenities, and sale price. This is also why choosing a program that lets you upload spreadsheets is so crucial as otherwise, you’ll have to spend hours inputting all the data manually.
Territory and Demographics Analysis Tool
A territory tool enables you to separate your map into different sections. You can then customize the metrics to show each territory’s demographic information, such as age, education, income, etc.
This will help your clients determine areas where their target audience is most dense, allowing them to decide where they want their property to be located.
Choosing the Right Software
There are many real estate mapping software options, but the goal should always be to present information in a comprehensive and visually coherent way.
Whichever software you choose should meet the following objectives:
- Makes it simple to input or upload a large amount of data
- Allows you to analyze a wide range of demographic data
- Gives you access to Google’s data so your clients can make informed property buying decisions
- Enables a quick visualization of all your properties
- Permits you to filter out the properties that don’t meet your client’s criteria
- Supports the division of a location in separate territories
- Allows for the input and display of demographic data
- Makes it easy for you to give your clients their ideal property.
Petr is a serial tech entrepreneur and the CEO of Apro Software, a machine learning company. Whenever he’s not blogging about technology for itechgyan.com or softwarebattle.com, Petr enjoys playing sports and going to the movies. He’s also deeply interested in mediation, Buddhism and biohacking.