The HomeStandings report, a product of leading information provider CoreLogic, is now available on RE/MAX Mainstreet to a variety of RE/MAX agents and affiliates. The report system is expected to give one of the leading real estate companies in the country an edge on the competition.
The HomeStandings report is designed to provide property-specific, easy-to-understand and professional-grade data and analyses for agents, so that they can more accurately match buyers with properties. HomeStandings combines property with neighborhood and market characteristics to create the most complete understanding value, marketability and potential for rent. Additional considerations include area pricing, surrounding market conditions, crime rates, schools, estimated market rent and investment opportunities. These reports are available for virtually every property in the United States. With this technology, assessing the overall purchase quality of a home will be made much easier for RE/MAX agents.
HomeStandings are also helpful when assessing foreclosed properties that are eligible for resale and potentially profitable. HomeStandings reports give such properties a grade–an A grade, for instance, means the property is profitable, whereas an F grade means that it is not. To test the accuracy of the HomeStanding grades, CoreLogic assessed around 115,000 properties that were sold as foreclosures and then resold within the following six months. Of this, CoreLogic found that properties earning an A grade from HomeStandings earned resale profits averaging $81,000 higher than properties which earned D or F grades.
“HomeStandings is recognized as an important, relevant property research tool and has already delivered more than two million reports for three of the largest mortgage companies in the nation,” said H. Harper Thorpe, vice president of Real Estate Solutions at CoreLogic. “While limited information is available on consumer websites, stakeholders with real dollars on the line rely upon the increased comprehensive and accurate information brought together by CoreLogic.”
The information HomeStandings is able to provide for RE/MAX does give the real estate company an advantage with buyers and sellers. The reports will assist RE/MAX in advising consumers whether or not now is a good time to buy or sell. Insight into property value and marketability is exactly what the informed buyer or seller should be looking for in an agent.
“RE/MAX is pleased to work with CoreLogic to provide our agents with detailed property data that produces a significant competitive advantage,” said Mike Ryan, executive vice president of RE/MAX Global Communications and Branding. “Home buyers and sellers are always anxious to understand the true value of their home, and increasing numbers of investors will appreciate this information in analyzing the specifics of their real estate investments.”