If you’ve been in the commercial real estate scene for a while, you know the value data can provide. But, what happens when it doesn’t provide that promised value? What happens when the data doesn’t work?
When things go wrong or predictions are turned upside down and investment opportunities (and lots of money) are lost, it can be frustrating to say the least. For too many of us, it can be easy to fall prey to the idea that the data doesn’t lie. Perhaps there is truth in numbers, but if those numbers are solely from quarters passed, the end result could lead to missed opportunities.
The dated data disadvantage
Outdated, historical data can put you at a major disadvantage when it comes to competing in the CRE space. In cities like Austin, where the commercial real estate market is dynamic, missing an opportunity because of dated data takes you out of the game.
In commercial real estate, the lifespan of data is short. Very short. Market data and quarterly reports can become dated and irrelevant by the day. That dated data is not something real estate investors, brokers, economic development offices, or tenants want to put stock in when it comes to making decisions about their business.
How to make sure your data is working for you
Making decisions in commercial real estate is all about having the right information at the right time. To be successful, you need to arm yourself with real-time data from RealMassive so you can capture market changes as they happen. Customized data sets give you access to data and trends by market, zip code, state or across the entire United States. With real-time commercial listing data, you’ll have the power to identify market trends and changes as they happen.
Do you know how much the average asking rates fluctuated in your market last week? What about the number of properties that came on or off the market per day? With real-time data at your fingertips, you would.
Contact us today to learn how you can gain data confidence and stay steps ahead of your commercial real estate market.