KW Command highlights the value of location - Here's what you can learn.

Location, Location, Location - we all know it's true... this is "IT" when it comes to real estate and real estate values.

But - is all location equal? Of course not - and to complicate matters, it's also personal.

Life stage, lifestyle preferences, proximity to specific places, personal and family needs, all make location a very personal thing. A real estate listing that says "great location" begs the question "for whom?" This matters so much that the new KW Command, w/Kelle the KW Ai assistant, features this as a premier part of their consumer experience, via an entirely personalized search/discovery experience for each consumer. The time is right for this play, and the data supports it.

Let's start with this chart from the NAR 2018 Homebuyer survey:

Source: https://www.nar.realtor/sites/default/files/documents/2018-home-buyers-and-sellers-generational-trends-03-14-2018.pdf

"Quality of the neighborhood" is the largest decision point (two spots above affordability). Followed by convenience to several personal factors, and even "design" of the neighborhood, etc. Tools like WalkScore (owned by Redfin since 2014) don't solve this. It's one score to rule them all, and it doesn't account for individual needs. Other sites that provide crime maps, heat maps, etc. are all one sided, and can be information overload - that is also not personalized.

According to the 2018 NAR Homebuyer Survey, 44% of buyers aged 52 and younger value getting that neighborhood information on a real estate website*—and almost as many in that age range value searching with an interactive map. That means those features will be table stakes for the buyers coming into the market. And those who can present location accurately through their search experience will win this growing consumer segment. (see fig 3 at the bottom)

Because guess what? Your clients don't compromise on location.

According to the chart above, people compromise on price, condition, size, style, and distance from jobs (14%). That's where the compromise wanes and a full 33% don't compromise on anything (hello A-Types)! This validates that these "soft criteria" not on the listing at all, are truly HARD criteria that we need to put front and center to help that consumer find their next home.

The only way a homebuyer could understand location was to visit multiple websites and drive around numerous neighborhoods to smell the air, hear the sounds, and see the sights before making that fateful decision to schedule a showing. Then BAM! They call you from the For Sale Sign in the yard. Does that mean the For Sale sign, this offline dinosaur, is truly 48% of your "lead source"? Unlikely - they research before they pull up, check out the neighborhood - and then call.

But how do you bring the local noise levels online? How do you bring the feel of living in a location online? How do you make the greenery, the true walkability an individual cares about, easily searchable? How do you make sense of the data, help a consumer cut down on websites and wasted drive time?

By providing something powerful and personalized as KW has done for their agents, and you can too, today - with Local Logic.

Here's where Local Logic comes in. The key difference, we do it at the address level, not the generic ZIP or Neighborhood level. Local Logic helps consumers prioritize and personalize location search, alongside listings (simultaneously!) - as they search on your site, with your brand. And when you do this - amazing things happen - traffic bounce plummets, lead conversion increases, and return visits increase. (it's also 100% white label to YOU and your brand)

P.S. Still in doubt? This feature, location analysis and understanding - is highlighted as part of the new KW Command system…. And I know for a fact, it’s just beginning to scratch the surface of what Local Logic has created down to any address in North America. To take what Gary Keller said a bit further, forget Travis Heights, Travis Heights South or East, it’s about the home and the immediate experience around that home - as it pertains the individual and neighborhood level data is not enough.

What do you think?

Best,

Pierre

*Source: 2018 NAR Homebuyer survey

Fig. 3