Aerial Real Estate Maps - February 2006
With a few clicks, consumers get a bird's-eye view of listings and neighborhoods.
Homebuyers are relying on the Interent more than ever before to browse listings and research possible property purchases. In fact, the 2005 NATIONAL ASSOCIATION OF REALTORS® Profile of Home Buyers and Sellers reports that use of the Internet to search for a home has risen dramatically, increasing from only 2 percent of buyers in 1995 to an astounding 77 percent in 2005. And when asked where they first learned about the home purchased, 24 percent identified the Internet as their primary source.
Now a new breed of information resource is available for homebuyers, one that goes way beyond simple descriptions and photos of listings. HomePages.com, HousingMaps.com, and several similar websites have come online in recent months, providing buyers with an interactive bird's-eye view of potential properties, surrounding neighborhoods, nearby parks, places of worship, schools, shopping and a vast array of other features.
What Are Aerial Mapping Websites?
Aerial mapping websites utilize aerial and satellite imagery to enhance the way consumers find and research information about properties and communities. When combined with online listings, they can give an added dimension of real-world context to the maps and listing descriptions. The technology enables homebuyers to make better decisions based on actual aerial visualizations of properties and the neighborhoods around them. Simply by entering an address or clicking on a property icon, the homebuyer is taken on a virtual flight, zooming in on the exact location.
How Do They Work?
There are a variety of mapping websites available, all with somewhat different features. The simplest ones, such as HousingMaps.com, let users enter a location, type of property, and price range. After clicking the submit button, what comes back is a map of the area flagged with properties that meet the specified criteria. Buyers can zoom down to street level on the map, switch to a satellite view, and see listing details. Some of the more advanced mapping services, such as HomePages.com, offer more options and details, showing neighborhood features, prices of recently sold properties, local restaurants, and more. "It is not just knowing where the park is, but being able to zoom in and see if it has playground equipment, a basketball court or a dog park," according to HomePages.com's Matt Heinz.
Potential Uses & Future Trends
Aerial real estate mapping websites have only been around for about eighteen months. The first was HousingMaps.com, an informal "mashup" project combining Google Maps with real estate classifieds from Craigslist. Since then, the number of mapping websites has rapidly expanded, from national websites such as HomePages.com and Zillow.com to regional services such as Seattle's Redfin.com and California's Trulia.com. In the Chicago area, Prudential Preferred Properties has created a Google Earth plugin for mapping local listings, an idea which several other companies have also begun adapting for their own markets. Even REALTOR.com has begun beta testing a mapping feature to help buyers find listings.
There are no surveys or statistics shwoing how many consumers are using these mapping services, but with all of the buzz in the media and on the Web, their popularity is sure to soar as more people become aware of them. And it makes sense that consumers would want an interactive bird's-eye view of properties. With a few clicks of the mouse, buyers can see available properties for sale and where they are located in relation to each other, local schools, public transportation, and so on. The visual display of listings on aerial photos and maps offers so much more information than a clickable list of properties for sale in a given area.
Drawbacks
One drawback of moving towards aerial real estate mapping in online listings is that you get the good along with the bad. Aerial mapping not only showcases the good features of the property and surrounding neighborhoods, they also can bring to light some negative factors that may turn off potential buyers. You can't hide the location of a hazardous waste site or erase the existence of power lines or cellular towers in aerial real estate maps.
On the other hand, aerial maps may not be the most current, therefore not showing 100% accurate information in all cases (as users of the recently launched Zillow.com are finding). The images also vary in quality, making it difficult to interpret some details or easily misinterpret others.
Potential Impacts on REALTORS® and the Real Estate Industry
Aerial real estate mapping seems to be the trend of the future. To remain competitive in the market, real estate agents must satisfy consumers' growing need to locate the most comprehensive information available. The implementation of aerial real estate mapping services in conjunction with online listings enables the real estate agent to not only show a property, but to show a complete visual picture of surrounding areas and attractions to consumers -- all in the comfort of their own homes.
Mapping sites can be another marketing tool for real estate professionals. HomePages.com and similar services offer options for real estate agents and brokers to showcase their own services. Innovative real estate companies might also consider following the example of Prudential Preferred and other firms by creating plugins for Google Earth that will map listings in their own markets. Offering consumers a local alternative to the national mapping sites can be an excellent way to draw in more customers.
The various mapping websites available on the Web are another tool among the many choices homebuyers have on hand when researching properties and neighborhoods, and it's in the best interest of real estate professionals to know what's out there, how buyers might be using them, and how best to take advantage of the technology. Online mapping tools shouldn't be seen as a threat to the real estate industry; on the contrary, they are proving to be a great reinforcement to real estate professionals' reputations as neighborhood experts. Maps and aerial photos can be outdated and hard to interpret. By knowing their neighborhoods inside and out, brokers and agents are able to provide consumers with a much more accurate and detailed portrait of a home and its surroundings than any satellite photo ever could.
- K. Walsh
NAR's Web Wizard Report - No. 76 (February 2006)
A Sampling of Real Estate Mapping Sites
For Further Reading
Site zooms in on real estate listings, (Seattle Post-Intelligencer, Oct. 11, 2005)
Mapping done right, (The Walk-Through/New York Times, Feb. 21, 2006)
Real estate industry owes Zillow debt of thanks, (Realty Times, Feb. 20, 2006)
Online marketing: The battle for mapping supremecy heats up, (RISMedia, Feb. 9, 2006)
This report is for information only. NAR does not evaluate or endorse the products mentioned this report and is not responsible for changes in company information.
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