The combining of the gold standards in apartment market analytics.
The blending of the gold standards of apartment market data analytics met the approval of RealWorld 2017 attendees on Monday. After its introduction on the big screen at the morning keynote kickoff before record attendance, RealPage Data Analytics drew applause during a more intimate look hosted by two of multifamily’s leading economists, Jay Denton and Jay Parsons.
RealPage’s Parsons and Denton detailed what’s in store for multifamily market research when Data Analytics rolls out. The new Data Analytics platform combines the analytic powers of RealPage (lease transaction data and benchmarking), Axiometrics (apartment rent comps), Real Capital Analytics (sales comps and capital trends) and MPF Research (market research and forecasting), announced earlier this year.
“This is a big advancement for our industry,” Parsons said. “We aren’t just checking all the boxes. We’re bringing together the best sources for every key data point into a single one-stop shop – which is exactly what you, our partners, asked us to do.”
The new RealPage Data Analytics platform combines data from the industry’s most powerful data brands to provide the most accurate market fundamentals, forecasts, capital trends and asset-level granularity. Furthermore, the platform brings together a client’s internal data – directly from any major property management system, updated daily – with external data, eliminating the need to go multiple places for information. The commingling of all the data and analytical tools enables clients to make informed decisions regarding apartment acquisitions, dispositions, renovations, operations and development.
“It’s going to be very easy to find what you’re looking for,” Parsons said. “And all the key stakeholders you collaborate with can work from the same sheet of music.”
Existing clients of Axiometrics, which joined the RealPage family in February, will also benefit, Denton noted. RealPage has greatly expanded the number of professionally managed apartment properties tracked every month, while maintaining Axiometrics’ data collection methodologies – which are highly regarded by the industry. Axiometrics clients will also benefit from enhanced forecasting and asset classification methods, plus more granular submarket definitions.
“We are going to continue to track properties the way we have, but the difference is we now have more resources to do things we couldn’t do before joining RealPage,” Denton said.
Thanks to RealPage’s Jay Denton and Jay Parsons for filling in the RealWorld audience on the new data analytics platform!
Check out more from RealPage Data Analytics.