Home – Time for a change? A Better Approach to Real Estate Research

Time for a change? A Better Approach to Real Estate Research

Posted on 01-29-2016 by Mary Frericks

 Poor Alice. She followed a white rabbit (in a waistcoat, no less) down a hole and finds herself lost. For some reason, the story reminds me of research on the open Web. It begins with a question—usually from your boss—like, “How can we make our team more LEAN?” You start to answer and realize you’re not sure what that even means … and suddenly you’re off to Google, the Wonderland of information seekers. Then you type in ‘Lean’ and the madness begins. The Urban Dictionary definition (top result, and probably not the answer your boss is looking for) is quickly followed by 222 million results in exactly 0.95 seconds. Is it any wonder that conducting news and business research on the open Web makes you want to disappear faster than a vanishing Cheshire Cat?

Give Your Search Direction

In Alice in Wonderland, Alice asks the Cat, “Would you tell me, please, which way I ought to go from here?” A brief conversation ensues:

“That depends a good deal on where you want to get to,’ said the Cat.
‘I don't much care where—‘ said Alice.
‘Then it doesn't matter which way you go,’ said the Cat.

‘—so long as I get somewhere,' Alice added as an explanation.

‘Oh, you're sure to do that,’ said the Cat, ‘if you only walk long enough.”

Replace ‘walk’ with ‘search,’ and you might be describing the plight of many real estate professionals who struggle to find relevant information in a timely fashion. The problem—for Alice and many others—is that by failing to define the end goal, the path is likely to take a lot of unexpected twists and turns.  And that takes time, a valuable commodity for anyone, especially when you’re trying to out-grow the competition. You need to have a finger on the pulse of your marketplace and be ready to move when opportunity strikes. You certainly can’t do that if you’re leaping down one rabbit hole after another. But beyond knowing why you’re conducting the research, you need to make sure you’re asking in the right places. And let’s face it, too often, the type of research that real estate professionals need to conduct leads to dead-ends, paywalls and out-of-date information if you’re relying on the open Web. {Side-step the traps of bad information. Learn more in this Webinar!}

Look for Tools & Content You Can Trust

Instead of heading to the Wonderland of the Web, consider using tools that can help you cut through the clutter—resulting in more focused, precision research that generates relevant results.  For real estate professionals, that means access to:

  • Public records—including hard-to-locate contact data like personal email addresses and cell phone numbers
  • Deep news, company information and industry insights with Alerts to keep you current on individuals and companies of interest
  • Efficient search functions, such as linking ownership entities directly to principal contact information
  • List pulling capabilities to allow you to create prospecting lists based on specific criteria

The open Web is awesome—if you’re searching for cat videos—but it might not be the best tool for the unique needs of real estate professionals. What tools do you rely on?  

3 Ways to Apply This Information Now

  1. Keep this “Research with a Purpose” worksheet handy to jump-start your process when you’re facing a knowledge gap and register for the upcoming Webinar -- LexisNexis for Real Estate: All the Data You Need in One Place to learn more about the technology and information fueling leading brokers now.
  2. Check out the tool that helps you search authoritative news and business information with advanced search, analysis and data visualization capabilities.
  3. Share this blog on LinkedIn to keep the dialogue going with your colleagues and contacts. 

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