Unlocking Leverage: The One Step That Transforms Real Estate Research

September 11, 2023•3 min read

Introduction:

In the world of real estate, knowledge is power. It's the foundation upon which informed decisions are made, deals are struck, and success is built. But what if I told you there's one simple step that can grant significant leverage in your real estate business? It's a game-changer—a method that not only saves time but also equips you with the insights needed to excel in the field. Let's dive into the art of real estate research and discover the key to success.

The Initial Inquiry

When a listing inquiry lands in your inbox, how do you respond? Do you embark on a journey of research, collecting data piece by piece? Or do you harness the power of leverage and efficiency, streamlining the process for maximum results?

Enter the Checklist

We've discovered that the key to unlocking leverage in real estate lies in developing a comprehensive checklist. This checklist is your secret weapon, enabling you to swiftly gather all the pertinent information you need. The beauty of it is that you can share this checklist with your virtual assistants (VAs), turning this one step into a collaborative powerhouse.

The Initial Inquiry

Enter the Checklist

Efficiency in Action

Here's how it works: When a new listing inquiry arrives, we promptly send the address to our VAs. In a matter of minutes, they generate a Google document containing a treasure trove of data. This includes details like the property's real property report (RPR), information from platforms such as Zillow and Redfin, data sourced from the Federal Housing Finance Agency (FHFA), the prior listing history, and tax records. This initial research provides us with a rock-solid foundation to work from.

The Power of Knowledge

But we don't stop there. We ask our VAs to run zip code reports on the neighborhood, ensuring that within five minutes, we become more knowledgeable than the majority of realtors. Even when dealing with properties in areas that we're still learning about, we're armed with valuable insights.

It's akin to being a doctor preparing to see a patient. We grab the X-ray chart on our way in, ready to scrutinize the details and gain a deep understanding. In our case, the categories we focus on include purchase history, amount owed, RPR, FHFA data, information from Zillow, Redfin, Realtor, and Homesnap, tax records, tax analysis, and net sheet.

Conclusion

In the realm of real estate, knowledge isn't just power; it's a competitive edge. By adopting a systematic approach to research and leveraging the capabilities of virtual assistants, you can transform your real estate business. This one step, the development of a comprehensive checklist, opens the door to efficiency, thoroughness, and ultimately, success. So, the next time a listing inquiry comes your way, remember the power of leverage and embark on your journey with confidence and insight.

Seth Dailey

Seth is the Co-Founder of both The Dailey Group and Keller Williams Gateway in Baltimore, Maryland. He serves as the Operating Principal for the brokerage and as the team leader for The Dailey Group, which consistently helps over 150 families a year. Seth, a Montana native, is passionate about empowering leaders and teaching people to make smart financial moves. Prior to real estate, Seth held his CPA designation and worked as a mortgage lender before joining forces with his wife of 20 years, Alyce. Seth can usually be found at the nearest coffee shop with a personal growth book in hand while scribbling down his next great idea on the back of a napkin.

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