Parsons says real estate forecasters have used one-size-fits-all models that treat all markets the same.
RICHARDSON, TX—RealPage Inc. has introduced RealPage Market Analytics, a lease transaction-driven market research platform that reportedly provides 100% visibility into performance data that is critical for investment decisions. The platform will launch today at the company's RealWorld conference in Orlando.
The next-generation platform was developed by the RealPage asset optimization team. The analytics platform combines RealPage Axiometrics and MPF Research, and is powered by RealPage's 13 million units of transaction data.
Justin Alanis, senior vice president of asset optimization at RealPage, says that traditional research methods are based on publicly available asking rents and occupancy data, lagging indicators of market movement that reveal less than 5% of a property's true performance. This new platform provides 100% visibility by tracking bottom-line rent roll, revenue and all the early indicators that drive performance, including new leases, renewals, retention, average vacant days, lease-over-lease trade out and lease-term lengths, he states.
“RealPage Market Analytics represents the dawn of a new era. We're not just advancing market research. We are reimagining it,” said Alanis. “For the first time ever, you're getting 100% visibility into true submarket performance. And this is just the beginning.”
RealPage Market Analytics, which the team touts as being the first in the industry, showcases multiple new features that enhance client value, all within a customizable interface:
Exclusive Lease Transaction Data: The ability to track submarket lease trade out, renewals, resident retention, bottom-line rent roll and other key revenue figures sourced from 13 million-plus units of real-time data across more than 400 markets.
AI-Infused Forecasts: More accurate forecasts that provide a view into the future by taking into account the unique drivers at the market, submarket and individual asset levels.
Rent Comps: Insights derived from decades of same-store property tracking at the floorplan level and extensive details on unit mixes, managers, owners, asset classification, construction dates and real comps.
Real Capital Analytics Sales Comps Data: Access to datasets on sales transactions, loan details, cap rates and capital trends via RealPage's partnership with RCA.
Asset Snapshot: Instant and deeper dives into any property through configurable, downloadable answers on an asset's estimated value, forecast, real rent comps and sales comps, and construction pipeline information.
Direct Data Feeds and Ad Hoc Analyses: Intuitive analysis and extraction tools that save clients time finding, downloading and reformatting exact data.
“Real estate forecasters have always relied on one-size-fits-all models that treat all markets the same. But intuitively, this never made sense. Markets perform differently because they are different, and investors target certain markets based on those differences,” Jay Parsons, vice president of asset optimization and deputy chief economist at RealPage, tells GlobeSt.com. “RealPage's innovative AI-infused forecasts solve that problem by detecting the unique drivers of performance in each market, empowering us to more accurately predict market movement.”
To do this, RealPage is leveraging machine learning tools.
“And we have a team of multifamily analysts and consultants regularly engaged with the industry who add deep market fluency, providing the optimum blend of art and science in producing forecasts,” Parsons states.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
