RealPage Market Analytics - Detailed Review
Real Estate Tools
RealPage Market Analytics - Detailed Review Contents
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RealPage Market Analytics - Product Overview
Introduction to RealPage Market Analytics
RealPage Market Analytics is a sophisticated market research platform specifically designed for the multi-family real estate sector. This tool is developed by RealPage, Inc., a leading provider of software and data analytics for property management.
Primary Function
The primary function of RealPage Market Analytics is to provide comprehensive and accurate market performance data. It offers 100% visibility into true submarket performance, which is crucial for making informed investment decisions. This platform combines lease transaction data, historical records, and current survey data to deliver a holistic view of market, portfolio, and asset performance.
Target Audience
The target audience for RealPage Market Analytics includes professionals in the real estate sector who rely heavily on data-driven insights. This includes property owners, managers, real estate investors, and developers in the multi-family housing sector. These individuals are typically in decision-making roles, such as asset managers, analysts, or executives, and are responsible for strategic decisions regarding property acquisition, development, management, and sales.
Key Features
- Exclusive Lease Transaction Data: RealPage Market Analytics tracks key indicators like new leases, renewals, resident retention, average vacant days, lease-over-lease trade out, and lease-term lengths. This data is sourced from over 13 million units across 400 markets.
- AI-Infused Forecasts: The platform provides more accurate forecasts by considering unique drivers at the market, submarket, and individual asset levels. These forecasts are powered by a team of respected economists and data scientists.
- Rent Comps: It offers insights derived from decades of same-store property tracking at the floorplan level, including details on unit mixes, managers, owners, asset classification, and construction dates.
- Real Capital Analytics (RCA) Sales Comps Data: Through a partnership with RCA, the platform provides access to the industry’s leading dataset on sales transactions, loan details, cap rates, and capital trends.
- Asset Snapshot: This feature allows for instant, detailed analysis of any property, including estimated value, forecast, real rent comps, sales comps, and construction pipeline information, all accessible with a single click.
RealPage Market Analytics is a powerful tool that enables stakeholders to make confident decisions regarding capital allocation, acquisition, construction, management, and property disposition by providing actionable insights and comprehensive market data.
RealPage Market Analytics - User Interface and Experience
User Interface Overview
The user interface of RealPage Market Analytics is crafted to be user-friendly, intuitive, and highly informative, making it an invaluable tool for real estate professionals.Interface and Ease of Use
The platform boasts a dynamic and easy-to-use interface that integrates seamlessly with other RealPage analytics tools, such as Benchmarking and Asset Snapshot.Key Features
- The interface is customized to present data in a clear and comprehensible manner, using eye-opening charts and graphs that convey meaning more effectively than traditional rows and columns of numbers.
- Users can create a customizable dashboard, allowing them to place the most relevant information at their fingertips, saving time and effort in data analysis.
Customization and Collaboration
RealPage Market Analytics allows for significant customization, which is particularly valuable for users like acquisitions professionals who need to focus on specific assets and markets. This customization capability is a huge time saver and adds significant value to daily operations.Collaboration Features
- The platform facilitates easy collaboration among multiple stakeholders by enabling users to quickly execute customized data extracts using filters. This feature helps in assembling professional-looking reports that are tailored to the specific needs of different roles and areas of interest.
Data Presentation and Insights
The platform presents a wealth of actionable information, including real lease transaction data, which reveals true submarket performance. This includes detailed metrics such as rent roll, revenue, new lease rent growth, renewal rent growth, retention rates, lease terms, average vacant days, and renter incomes.Advanced Analytics
- The use of econometric modeling and forecasting, particularly for student housing around 200 universities and colleges, including radius forecasting, provides users with insightful and forward-looking data.
User Experience
User testing and feedback have been instrumental in shaping the user experience. Users have praised the platform for its straightforward navigation and aesthetic design, which significantly contribute to a positive user experience.User Engagement
- The platform’s ease of use is further highlighted by the reduction in bounce rates and the increase in the average time users spend on the page, indicating that the content is engaging and relevant to their needs.
Support and Expertise
RealPage Market Analytics is supported by industry-leading economists who not only advise on the development of the solution but also share their expertise with users. This ensures that the platform is continuously improved and aligned with the latest industry trends and best practices.Conclusion
Overall, the user interface of RealPage Market Analytics is designed to be intuitive, highly customizable, and visually appealing, making it an essential tool for real estate professionals seeking to make informed and profitable decisions. RealPage Market Analytics - Key Features and Functionality
RealPage Market Analytics Overview
RealPage Market Analytics is a comprehensive market research platform that offers several key features and functionalities, particularly beneficial for those in the multifamily and property management industry. Here’s a detailed look at what it has to offer:Exclusive Lease Transaction Data
This feature allows users to track critical performance metrics such as submarket lease trade out, renewals, resident retention, bottom-line rent roll, and other key revenue figures. This data is sourced from over 13 million units across more than 400 markets, providing a much more accurate picture of market performance than traditional methods based on asking rents and occupancy data, which only reveal about 5% of a property’s true performance.AI-Infused Forecasts
RealPage Market Analytics incorporates AI to generate more accurate forecasts. These forecasts take into account unique drivers at the market, submarket, and individual asset levels, providing a clear view into future performance. This AI-driven approach enhances the predictive accuracy, helping users make informed investment and management decisions.Rent Comps
The platform offers insights derived from decades of same-store property tracking at the floorplan level. It includes extensive details on unit mixes, managers, owners, asset classification, construction dates, and real comps. This comprehensive data helps in setting competitive rents and understanding market trends.Real Capital Analytics (RCA) Sales Comps Data
Through a partnership with RCA, RealPage Market Analytics provides access to the industry’s leading dataset on sales transactions, loan details, cap rates, and capital trends. This data is crucial for underwriting and evaluating comparable sales, ensuring that investment decisions are based on accurate and up-to-date information.Asset Snapshot
This feature provides instant and detailed insights into any property. Users can get configurable, downloadable answers on an asset’s estimated value, forecast, real rent comps, sales comps, and construction pipeline information. This capability is particularly useful for quick and accurate asset valuations and performance assessments.Direct Data Feeds and Ad Hoc Analyses
The platform offers intuitive analysis and extraction tools that save users time by allowing them to find, download, and reformat exact data easily. This feature eliminates the need to sift through numerous publication files, making data access and analysis more efficient.Market and Property Performance Analytics
RealPage Market Analytics provides actionable intelligence on supply, demand, rent, concessions, occupancy trends, and competitor analysis. This data helps property managers set competitive rents, optimize occupancy rates, reduce costs, and grow revenue. The platform covers various types of multifamily properties, including apartments, townhomes, condominiums, and student housing.Integration and Customization
The platform integrates with other RealPage analytics tools, such as Benchmarking and Asset Snapshot, and offers a dynamic, easy-to-use interface. Users can customize the platform according to their needs, ensuring that the data and insights are presented in a way that is most useful for their specific strategies and decisions.AI Integration
The AI integration in RealPage Market Analytics is evident in its forecasting capabilities and the correlation of survey-based rents with highly accurate lease transaction benchmarks. This AI approach helps produce synthetic Net Operating Income (NOI) and assessments of value for assets, making the platform highly reliable for predictive analytics and investment risk reduction.Conclusion
Overall, RealPage Market Analytics is a powerful tool that provides comprehensive and accurate market intelligence, leveraging AI and extensive data sets to support informed decision-making across the entire multifamily lifecycle. RealPage Market Analytics - Performance and Accuracy
RealPage Market Analytics Overview
RealPage Market Analytics is a highly advanced tool in the real estate analytics sector, particularly notable for its comprehensive and accurate performance data. Here are some key points regarding its performance and accuracy:Comprehensive Data Visibility
RealPage Market Analytics stands out by providing 100% visibility into true submarket performance data, which is a significant improvement over traditional methods that rely on asking rents and occupancy, revealing only about 5% of a property’s true performance. It tracks critical metrics such as rent roll, revenue, new lease rent growth, renewal rent growth, retention rates, lease terms, and average vacant days, all sourced from over 13 million units across more than 400 markets.Accuracy and Forecasting
The platform uses AI-infused forecasts that offer a more accurate view into the future by considering unique drivers at the market, submarket, and individual asset levels. This enhanced forecasting methodology is substantially upgraded compared to its predecessors, providing superior forecasting accuracy.Integration and User Interface
RealPage Market Analytics features a dynamic, easy-to-use interface that integrates seamlessly with other RealPage analytics tools, such as Benchmarking and Asset Snapshot. This integration allows for a more streamlined and efficient analysis process. The platform also offers direct data feeds and ad hoc analyses tools, which save clients time by allowing them to download and customize the exact data they need.Additional Features
The platform includes several valuable features such as Asset Snapshot, which provides instant insights into an asset’s estimated value, forecast, rent comps, sales comps, and construction pipeline information. The partnership with Real Capital Analytics (RCA) also provides access to industry-leading data on sales transactions, loan details, cap rates, and capital trends.Client Feedback
Clients have reported high satisfaction with the platform, highlighting its ability to provide detailed data on rent rolls, lease renewals, and true revenues, which are not available elsewhere. This data confidence is crucial for making accurate investment decisions, especially in complex multifamily deals.Limitations and Areas for Improvement
While RealPage Market Analytics is highly regarded, there are a few areas to consider:Data Dependency
The accuracy and performance of the platform are heavily dependent on the quality and breadth of the data it collects. Any gaps or inaccuracies in the data could affect the reliability of the insights provided.User Learning Curve
Although the interface is described as easy to use, new users may still need some time to familiarize themselves with the extensive features and tools available.Cost and Accessibility
The cost of accessing such comprehensive data and analytics might be a barrier for smaller real estate firms or individual investors, limiting its accessibility to larger or more well-funded organizations.Conclusion
Overall, RealPage Market Analytics is a powerful tool that significantly enhances the ability to make informed investment decisions in the real estate sector through its comprehensive data and advanced forecasting capabilities. However, as with any data-driven platform, it is crucial to ensure the data quality and consider the potential learning curve and cost implications. RealPage Market Analytics - Pricing and Plans
No Publicly Available Pricing Details
RealPage does not publicly disclose the exact pricing for their Market Analytics platform on their website or in the provided resources. This suggests that the pricing may be customized based on the specific needs and scale of the client.
Features and Capabilities
Despite the lack of pricing details, here are some key features and capabilities of RealPage Market Analytics:
- Market Intelligence: Provides actionable intelligence on supply, demand, rent, concessions, occupancy trends, and forecasts.
- Lease Transaction Data: Includes data on lease renewals, true revenues, and other lease transaction details.
- Competitor Analysis: Offers insights into competitor performance to help set competitive rents and occupancy rates.
- Forecasting and Analytics: Uses actual lease transaction data, survey data, historical data, and econometric modeling to provide comprehensive market intelligence.
- Mobile App: Allows users to view properties for free, but a data plan must be purchased to access all available insights.
Free Access to Limited Data
While there is no free trial for the full Market Analytics platform, RealPage does offer some free access to data through other features:
- RealPage Explore: Provides free access to rent and occupancy data for millions of investment-grade apartments in the U.S.
- Market Analytics Mobile App: Users can view properties for free, but need to purchase a data plan for full access to insights.
Customized Plans
Given the lack of public pricing information, it is likely that RealPage offers customized plans based on the client’s specific requirements, such as the size of their portfolio, the type of properties managed, and the level of data needed. To get precise pricing, it is recommended to contact RealPage’s sales team directly.
RealPage Market Analytics - Integration and Compatibility
RealPage Market Analytics Overview
RealPage Market Analytics is designed to be highly integrative and compatible across various platforms and tools, making it a versatile solution for the real estate industry.Integration with Other Tools
RealPage Market Analytics integrates several key data sources and tools to provide comprehensive market intelligence. Here are some of the notable integrations:Lease Transaction Data
The platform uses real-time lease transaction data from over 13 million units across more than 400 markets, providing detailed insights into rent rolls, renewals, resident retention, and other revenue figures.Real Capital Analytics (RCA) Sales Comps Data
Through a partnership with RCA, the platform offers access to the industry’s leading dataset on sales transactions, loan details, cap rates, and capital trends.Historical Data and Survey Data
It combines historical data and current survey data to offer a complete view of market, business, and asset performance.Econometric Modeling
The platform uses precise econometric modeling to enhance forecasting accuracy at market, submarket, and individual asset levels.Compatibility Across Platforms and Devices
RealPage Market Analytics is accessible and functional across various devices and platforms:Web Platform
The primary interface is web-based, allowing users to access detailed market analytics, forecasts, and asset performance data from any computer with an internet connection.Mobile App
The Market Analytics Mobile App provides on-the-go access to the same comprehensive data, enabling users to make informed decisions anywhere. The app is available for download on Android devices and offers features like instant benchmarks of properties, rent and occupancy growth rates, and detailed unit mix information.Customizable Interface and Data Feeds
The platform is designed with an easy-to-use, customizable interface that allows clients to extract and analyze the exact data they need efficiently. Features such as direct data feeds and ad hoc analyses save time by streamlining the process of finding, downloading, and reformatting data.Security and Data Privacy
RealPage Market Analytics prioritizes data privacy and security. The platform complies with relevant regulations to safeguard user data and ensure confidentiality. The mobile app, for instance, ensures data is encrypted in transit and adheres to Google Play’s safety and security guidelines.Conclusion
In summary, RealPage Market Analytics is well-integrated with various data sources and tools, and it is compatible across different platforms, including web and mobile devices. This ensures that users can access and utilize the platform’s comprehensive market intelligence seamlessly. RealPage Market Analytics - Customer Support and Resources
Support Channels
Users can access support through several channels:
- Phone Support: RealPage provides phone support Monday through Friday from 7:30 a.m. to 7:00 p.m. (Central Time). Different products have specific phone numbers, which can be found on the RealPage support page.
- Live Chat: Live chat is available within the Unified Platform by clicking on Lumina and in the Customer Portal during regular business hours.
- Support Request Form: Users can submit support requests through the RealPage Customer Portal or using a dedicated webform for specific request types such as data privacy requests, GDPR requests, resident support, and vendor support.
Customer Portal
The RealPage Customer Portal is a central hub for managing support cases, accessing product updates, and updating profile information. Here, users can:
- Submit and manage support cases
- Review open and closed cases
- Access reports of their company’s cases
- Update their profile, contacts, and email addresses
- View information about their account team and product alerts
- Get notifications about future product releases.
Training and Resources
RealPage Market Analytics provides extensive training and support resources:
- Comprehensive Support and Training: Users have access to tutorials, documentation, and live training sessions to help them maximize the benefits of the platform.
- Knowledge Base: The RealPage support site includes a knowledge base with over 3,000 articles, offering detailed information to help users manage their business effectively.
- Idea Exchange: Users can submit ideas for new product enhancements and provide feedback on existing products, helping to shape future developments.
Additional Resources
- Market Update Webcasts: RealPage hosts live market update webcasts featuring leading economists and analysts discussing market fundamentals, trends, and forecasts.
- Feasibility Studies: Users can access detailed feasibility studies created by senior economists and real estate analysts to help secure financing and optimize apartment occupancy and rent performance.
- Mobile App: The Market Analytics mobile app allows users to view properties and receive instant on-the-go insights, with the option to purchase a data plan to unlock all available insights.
These resources ensure that users of RealPage Market Analytics have the support and information they need to make informed decisions and optimize their multifamily property management operations.
RealPage Market Analytics - Pros and Cons
Advantages of RealPage Market Analytics
RealPage Market Analytics offers several significant advantages for property managers and real estate investors:Comprehensive Market Intelligence
RealPage Market Analytics provides 100% visibility into market, business, and asset performance. It combines lease transaction data, survey data, historical data, and Real Capital Analytics’ sales transaction data to give a complete picture of submarket performance. This includes insights into rent rolls, revenue, new leases, renewals, retention rates, and average vacant days.Accurate Forecasting
The platform uses AI-infused forecasts to provide accurate predictions of future market trends. This helps in making informed investment decisions by considering unique drivers at the market, submarket, and individual asset levels.Detailed Analytics
RealPage Market Analytics offers granular information on supply, demand, rent, concessions, occupancy trends, and competitor analysis. This data helps property managers set competitive rents, occupancy rates, and revenue while reducing costs.User-Friendly Interface
The platform features an easy-to-use, customizable interface that includes tools like Asset Snapshot, which provides instant, detailed evaluations of any property. It also includes direct data feeds and ad hoc analyses to save time in finding and formatting the necessary data.Integration and Support
RealPage Market Analytics integrates with other RealPage tools and offers comprehensive support and training resources, including tutorials, documentation, and live training sessions. This ensures users can maximize the benefits of the platform.Mobile Accessibility
The Market Analytics mobile app allows users to view properties and access insights on the go, with the option to purchase a data plan to unlock all available features.Disadvantages of RealPage Market Analytics
While RealPage Market Analytics is highly regarded, there are a few potential drawbacks to consider:Cost
The platform may come with a significant cost, as it is part of a broader suite of tools and services offered by RealPage. The exact pricing can vary based on the specific needs and size of the property portfolio.Learning Curve
Although the interface is user-friendly, the depth and complexity of the data and analytics provided may require some time and effort to fully understand and utilize effectively.Potential Hidden Fees
Similar to other RealPage services, there might be additional fees associated with certain features or support services, which could add to the overall cost. In summary, RealPage Market Analytics is a powerful tool that offers comprehensive market intelligence, accurate forecasting, and detailed analytics, but it may come with a significant cost and a potential learning curve. RealPage Market Analytics - Comparison with Competitors
Unique Features of RealPage Market Analytics
- Lease Transaction Data: RealPage Market Analytics is distinguished by its use of lease transaction data, providing 100% visibility into true submarket performance. This includes real-time rent roll, revenue, new leases, renewals, retention rates, and other key metrics that are not typically available through traditional research methods based on asking rents and occupancy data.
- Comprehensive Market Intelligence: The platform integrates lease transaction data, survey data, historical data, and Real Capital Analytics’ sales transaction data, along with precise econometric modeling. This comprehensive approach offers actionable intelligence on supply, demand, rent, concessions, occupancy trends, and competitor analysis.
- Asset Snapshot: RealPage Market Analytics features an “Asset Snapshot” capability, which provides instant, detailed insights into any property, including estimated value, forecasts, rent and sales comps, and construction pipeline information. This feature is particularly valuable for quick and accurate investment decisions.
Potential Alternatives
HouseCanary
- Predictive Valuation Models: HouseCanary uses AI-driven valuation models to predict property values, market trends, and investment opportunities. It analyzes millions of data points, including historical sales data and property characteristics, to provide accurate valuations and market forecasts.
- Market Insights and Forecasting: Unlike RealPage, HouseCanary focuses more on national and local market insights, identifying emerging trends and predicting future market movements. It also provides detailed rental market analysis, including rental income and occupancy rate predictions.
- Key Difference: HouseCanary does not rely on lease transaction data but instead uses a broad range of historical and market data.
Reonomy
- Comprehensive Property Data: Reonomy aggregates data from various sources, including public records, proprietary databases, and third-party providers. This extensive dataset includes property details, ownership information, and transaction history.
- AI-Powered Market Analysis: Reonomy’s AI algorithms analyze vast amounts of data to identify market trends and predict future performance. It offers customizable reports and dashboards, allowing users to focus on specific markets or trends.
- Key Difference: Reonomy is more geared towards commercial real estate and does not specifically focus on lease transaction data like RealPage Market Analytics.
Skyline AI
- Predictive Asset Scoring: Skyline AI uses machine learning models to score properties based on their investment potential, analyzing factors like location, property features, and market conditions.
- Automated Due Diligence: The platform automates the due diligence process by analyzing vast amounts of data and providing comprehensive reports on properties, including financial performance and market conditions.
- Key Difference: Skyline AI focuses on scoring properties for investment potential and automating due diligence, which is different from the comprehensive market analytics provided by RealPage.
Localize.city
- Neighborhood Insights: Localize.city provides detailed information about neighborhoods and properties in New York City, using AI to analyze various data sources such as crime rates, school quality, and transportation options.
- Property Performance Predictions: The platform forecasts property performance based on market trends, neighborhood conditions, and property features. It also offers personalized recommendations based on user preferences.
- Key Difference: Localize.city is highly localized to New York City and does not offer the broad market coverage or lease transaction data analysis that RealPage Market Analytics does.
Conclusion
In summary, while other platforms like HouseCanary, Reonomy, Skyline AI, and Localize.city offer valuable AI-driven analytics, RealPage Market Analytics stands out with its unique focus on lease transaction data and comprehensive market intelligence, making it a powerful tool for multifamily property management and investment decisions. RealPage Market Analytics - Frequently Asked Questions
Frequently Asked Questions about RealPage Market Analytics
What is RealPage Market Analytics?
RealPage Market Analytics is a comprehensive market intelligence platform specifically designed for the multifamily and property management industry. It provides insights into market, business, and asset performance, enabling stakeholders to make informed decisions.What kind of data does RealPage Market Analytics provide?
RealPage Market Analytics offers a wide range of data, including lease transaction data, survey data, historical data, and sales transaction data from Real Capital Analytics. This includes details on rent rolls, revenue, new lease rent growth, renewal rent growth, retention rates, average vacant days, and other key performance indicators.How does RealPage Market Analytics differ from traditional market research methods?
Unlike traditional methods that rely on publicly available asking rents and occupancy data (which provide less than 5% of a property’s true performance), RealPage Market Analytics uses lease transaction data to offer 100% visibility into true submarket performance. This includes real-time rent roll and revenue data, lease renewals, and other key metrics.What features are included in RealPage Market Analytics?
Key features include exclusive lease transaction data, AI-infused forecasts, rent comparisons, Real Capital Analytics sales transaction data, and an Asset Snapshot tool. These features help in tracking submarket performance, forecasting, and providing instant evaluations of properties.Can I use RealPage Market Analytics for different types of multifamily properties?
Yes, RealPage Market Analytics provides market intelligence for various types of multifamily properties, including apartments, townhomes, condominiums, and student housing.How does RealPage Market Analytics support the entire multifamily lifecycle?
The platform supports all stages of the multifamily lifecycle, from site selection and development to lease-up, ownership, operations, acquisitions, and dispositions. It helps in making decisions related to capital allocation, construction, management, and disposition of properties.Is the data provided by RealPage Market Analytics accurate and reliable?
Yes, the data is sourced from a unique 13-million-strong lease transaction and survey database, combined with econometric modeling and insights from respected economists and data scientists. This ensures accurate and reliable market and submarket forecasting.How does RealPage Market Analytics help in mitigating risks and making investment decisions?
The platform provides actionable intelligence on supply, demand, rent, concessions, occupancy trends, and competitor analysis. This helps stakeholders make confident decisions in underwriting deals, evaluating investments, and tracking performance across their portfolios.Is there a mobile app available for RealPage Market Analytics?
Yes, there is a Market Analytics mobile app that allows users to view properties for free, although a data plan is required to unlock all available insights. Upgrades can be purchased as in-app purchases or by contacting the sales team.Does RealPage Market Analytics offer support and training resources?
Yes, RealPage Market Analytics provides comprehensive support and training resources, including tutorials, documentation, and live training sessions to help users maximize the benefits of the platform.How does RealPage Market Analytics ensure data privacy and compliance?
RealPage Market Analytics prioritizes data privacy and complies with relevant regulations to safeguard user data and ensure confidentiality.