Commercial Data Comes to the RPR App

REALTORS® across the nation will be pleased to learn that RPR's app now includes commercial data and reporting. The full extent of the app's expansion into commercial territory will greatly enhance a REALTOR'S® ability to conduct on-location property searches, analyze a multitude of relevant data sets; and instantly create client-friendly, decision-prompting reports.

The new Commercial mode, easily activated from within the RPR app, is similar to the platform's Commercial website, recognizable by its red theme. Once logged-in, REALTORS® can swipe through three home screens: property search, nearby market activity, and area demographics.

Searching properties in commercial mode will return active (for sale or lease), sold or leased, off market, and distressed properties within a specific area. And every search easily converts to a branded report with a REALTOR'S® photo and contact information. The reports (Commercial Property, Trade Area or Best Business) can be instantly downloaded and/or emailed to a client.

How will this marketplace innovation make a difference in your real estate world? Here are three scenarios to think about.

1. Prospecting

A developer plans to renovate a mixed-use property that extends several blocks. Knowing that off-market is the new on-market, you tap into the rich resources offered through RPR's app. Within seconds, the app produces property owner info, a full account of each property, and detailed Trade Area reports that highlight consumer spending habits, demographic and economic statistics for the current state of the market, and projections for the future. Equipped with the industry's most accurate and reliable data, you now have the distinct advantage of advising nearby property owners about the potential to positively leverage investments in the area's future economic development.

2. An Unplanned Stop

Your client intends to invest in commercial real estate. While touring potential properties, you land in an area your client finds interesting—one not included in the original list of considerations. You know a little about the area, but are not fully up to speed on its economic and demographic makeup. No need to go back to the office to conduct your research. Pulling up RPR mobile on your phone or iPad will quickly deliver the property data and market statistics your client needs to decide whether to to pursue site selection in the area.

3. The Walk Through

While touring a building, the property's owner goes over recent improvements while your client points out things that need to be addressed in order to fit the potential use. You reach for RPR Mobile™, pull up the subject property, and begin making notes, adding pictures, and recording reminders using the photo upload and note taking features. Immediately following the tour, you use your phone or iPad to email an updated Commercial Property Report to the client and property owner, complete with the new written and audio notes, as well as the added/synced photos. All will play an important role at the negotiating table.

To view the original article, visit the RPR blog.