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To give REALTORS® even more data in their arsenal of information, Realtors Property Resource®, (RPR), recently added Points of Interest (POI) to the maps if RPR Commercial. These POI’s aren’t simply just pins on a map. Separated into ten broad categories such as retail, manufacturing, transportation, retail and finance, with nearly 100 subcategories, each point of interest displays basic information about the business at that location including address, number of employees, annual sales volume and industry.
So just how can you use this information with clients? Here are 3 examples from RPR users of how POI’s can not only educate and impress clients, but showcase your market expertise.
One REALTOR® took advantage of the POI’s to sup-port the terms of a lease renewal. The property is a convenient store. By pulling financials on franchisees in nearby geographies, the REALTOR® was able to validate that the current location is more successful than other franchisees in neighboring geographies based on the sales volume being significantly higher. The current location attracts consumers and produces sales; which equated to a win!
Another REALTOR® was recently representing an insurance company looking to open a new office. Using the POI’s in RPR Commercial, the REALTOR® was able to not only scout out the competition from a sales volume perspective using the “Insurance” category, but was also able to determine a desirable area for the location based on proximity from the competition, as well as select an area that would attract agents, an area with restaurants, grocery stores, and even bar options. The client wanted staff to have amenities close to the office.
An article in “Choose Chicago” recently caught the eye of a REALTOR®. Reporting that approximately 35,000 hotel rooms exist in Chicago with more than an additional 2,500 rooms under construction, along with an incline in Chicago’s occupancy rates, this REALTOR® realized she could use the POI’s in RPR Commercial to demonstrate to investor clients which areas/geographies need hotels. Starting by looking at nearby tourist attractions, and then highlighting the annual sales volume of competitors and how many employees are needed to successfully run a hotel, all from the POI’s, the REALTOR® left the clients impressed and ready to sign.
These are just three of many ways to use the POI’s in RPR Commercial. With 10 categories and 100 sub-categories for the points of interest, the possibilities are endless!
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