RealEstate Business Intelligence, a subsidiary of one of the largest multiple listing services in the nation, has rolled out housing statistics for more than 8,000 cities and subdivisions in the Mid-Atlantic region.
RBI provides statistical information gleaned from the MLS of its parent company, Metropolitan Regional Information Systems Inc. (MRIS). Now, customers of its rbiEXPERT service will be able to view housing market trends from more than 600 cities and 7,500 subdivisions, all of which must have had at least 12 sales in the past two years to be included.
Real estate data image via Shutterstock.
"Real estate is an incredibly hyperlocal business. We've had many customers ask for housing statistics in the specific neighborhoods they serve," said Jonathan Hill, president at RBI, in a statement.
"Subdivision data gives these real estate professionals the ability to talk about very granular housing trends with clients and gives them a new tool to promote their expert knowledge in the exact areas they cover to help them do their job even better."
Available exclusively to MRIS subscribers, rbiEXPERT offers "the ability to slice, dice, visualize and share market stats" for $23.99 per month or $199.88 per year, according to RBI's website.
With rbiEXPERT's "Geo Compare" function, agents and brokers can compare statistics for up to four cities to each other and generate graphs that they can then embed on their websites or share with prospective clients.
Agents can use rbiEXPERT to gauge how the market is doing based on current and historical trends for indicators such as new listings, active listings, pending sales, and closed sales. They can also create embeddable static or interactive charts that show stats such as average or median sold price, days on market, and sold price to list price. Embedded charts can update in real time without any additional work on the part of the agent.
RBI also released an improvement available to all MRIS subscribers -- a simpler location search that allows users to type in the region, county, city, ZIP code or subdivision they are interested in rather than having to select a region from a list of multiple dropdown menus.
MRIS serves more than 45,000 real estate professionals in Maryland, Northern Virginia, Washington, D.C., and parts of Pennsylvania, Delaware and West Virginia. The MLS facilitated over $45 billion in systemwide sales in 2013, which works out to nearly $125 million a day in real estate transactions, according to MRIS.