Data & Analytics for
State Associations
As the need for more robust insight into a region's real estate market grows, more state associations are considering (or have already implemented) an in-house data analytics team.
The benefit is clear: Constant access to a comprehensive statewide database and the ability to deliver that data in whichever form is required to meet it's marketing, communications, advocacy, or membership needs.
The question becomes: build a team in-house? or outsource?
For more information on statewide data & analytics with GreenLight, contact us here.
Statewide Database Project Map
Some of the back-end tasks required to organize a statewide database may be seen below. If staff with data engineering expertise is not available, your leadership may look to outsource this. From coordinating data agreements with each participating board to delivery of the platform, member training, and marketing materials, GreenLight's data and design team takes ownership of the project to deliver on your association's vision.
COMPARE: In-House vs. GreenLight
The decision to assemble a data analytics team or outsource its functions to a tech partner is largely dependent your leadership's bandwidth and overall budget. Below is a comparison of both options in terms of complexity and cost.
OUTSOURCING: Comparing Partners
In selecting a partner, 2 key questions to consider are:
Will my association remain in full control of how our data is published?
Is our partner's core business model aligned with ours?
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Interactive
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Updated Daily
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Customizable: You Control Your Content
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Costs a Fraction of Zillow's Fee
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Business Model: Serve MLS and Associations with custom data services
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Independent / Sustainable
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Static - No Drilldown
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Updated Monthly
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Canned: Zillow Controls Your Content
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Significantly Higher Cost than GreenLight
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Business Model: Extract revenue from the real estate transaction via advertising....which includes previous efforts to eliminate your agent members whenever possible with iBuyer initiative
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Zillow is a member brokerage of many of your state's MLSs. For a number of reasons, more and more MLSs view purchasing data services from a member brokerage as a conflict of interest and would prefer an alternative if available
GreenLight vs. Showing Time/Zillow PDF Reporting
Accessing Your Data
Once your data has been organized, you now have the ability to package the information in whichever formats you see fit. Typically, a core collection of market report templates, dashboards, and infographics will be published with the ability to slice and dice new views of your data as they are needed. This newfound control allows you to uncover statewide insights as they occur and serve your member boards with localized content upon request.
For more information on statewide data & analytics with GreenLight, contact us here.