Quality data behind every successful property decision

Buying or selling a home is among the most important decisions consumers will ever make because a property often represents a significant portion of their net wealth – and financial commitment.

So, consumers need all the help they can get and Lightstone’s Suburb Report is one of the most powerful tools Estate Agents have to help buyers and sellers make informed decisions – and Estate Agents themselves have confirmed this!

Nastassja Koch from RE/MAX says the reports “provide usable and accurate information, and the suburb mapping is also better compared to other systems.”

Similarly, Pam Spence from ADEK uses the reports when preparing comparative market analyses to help sellers set listing prices or help buyers make competitive offers. She says, “I am able to get accurate information about both the complex and/or suburb and surrounding areas. This makes me feel confident going into presentations, knowing that I am fully prepared.”

Corinna Lowry (SEEFF) checks property addresses, sizes, prices achieved, dates of sales, owners, and so on. “Every year, I make sure that my lists of property owners (from transfers) in Sandhurst and Hyde Park are updated in order to deliver calendars and personal messages to all owners of full title properties in these suburbs. My lists from over 20 years are substantial, and are a great help in my work."

These comments point to why the Suburb Report is so popular with Estate Agents and highlight some of its key features.

For buyers, the Suburb Report’s information provides context on an area which is just as important as the house itself. Knowing the number of Freehold and Sectional Title properties in an area helps understand neighbourhood density and sales and lending activity points to how much “churn” there is – and how easy it might be to resell.

Buyers have different needs when it comes to amenities such as schools, police stations, filling stations, hospitals and shopping centres, and knowing key demographics – such as the average age of homeowners in an area – can help a prospective buyer go for a deal – or move on.

For sellers, the Suburb Report provides a reference point for prices and helps them settle on a market-related offer when they might be inclined to hold out for a better price.

Of course, the data in the Suburb Report gives Estate Agents the data they need to help them market properties to prospective buyers. For example, predominantly older homeowners might prefer traditional marketing channels centred around personal connection, while social media might work well in a suburb characterised by mostly under 30s.

The Suburb Report also provides Estate Agents with practical insights around the commission potential of an area (knowing the Median Price helps here) and which financial institutions are more active in an area than others, meaning that Estate Agents can guide buyers towards bond originators most likely to make a transaction happen.

The Suburb Report also helps with risk management by looking out for red flags such as sales in execution or a fall in registrations at the Deeds Office. These signs could suggest that the area’s homeowner demographics are in distress.

The Suburb Reports are easy to read, and packed with graphs and graphics, and form one category of reports – others include the Property Report and Estate Report – which Estate Agents use to prepare a Comparative Market Analysis (CMA).