Providing Information Instead of Directly Selling (LA 1418)
Transcript:
Steven Jack Butala:
Steve and Jill here.
Jill DeWit:
Happy Friday.
Steven Jack Butala:
Welcome to the Land Academy Show entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit:
And I'm Jill Dewitt broadcasting from sunny Southern California.
Steven Jack Butala:
Today. Jill and I talk about providing information instead of directly selling. I always save the Friday shows for the week. The one that's my favorite.
Jill DeWit:
Oh, I like this. This is good. Cool.
Steven Jack Butala:
Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free.
Jill DeWit:
Sandy wrote, "When analyzing counties, what is a good substitute for Redfin properties sold for the counties that are not listed on Redfin? Thanks so much." Sandy.
Steven Jack Butala:
Great question. Here's how it works. You can get data all over the place. Realtor.com is a great place to go to get visual data. They don't have a good download function at all, and that's for good reason. They just want you to look at it. They don't want you to manipulate it, which is understandable because they own the MLS. The real estate environment in the entire country is made up of about 344 separate little MLS's. So Phoenix has like two and then Arizona, I'm just picking on Arizona because I know, there's, I don't know, eight or 10 more in different regions. And some of them choose to participate with Redfin and some of them don't and inevitably, most of the urban counties that choose to participate. So what do we deal in? Rural real estate.
So Redfin doesn't cover everything. Redfin has fantastic data and the download capabilities are amazing. And the data that they share is truly open source. We use it every single day in some capacity, I'm on there looking at analyzing counties or if we're buying stuff, whatever. So, but it's spotty. The coverage is spotty. Zillow has amazing data, but it's also, it's got holes in it. So what do you do? You use them all. And I can almost guarantee, and this is the takeaway on this, that two months from now and certainly a year from now, some other great source will pop up that's downloadable and fantastic. Jill and I are licensed providers. LandAcademy is licensed providers for DataTree, which is an amazing place to get data. It's not entirely free, but I'll tell you, when you get it, it's right. And TitlePro, which is Black Knight. And then RealQuest, the three major professional data providers, the ones that I mentioned before are applications on the internet that are kind of designed for everybody. So in some capacity, I use those all the time. As a LandAcademy member and I'm not selling anything here at all. It's providing information because that's the name of the show. We provide all that. And it's hard to lose when you have that much data power behind you.
Jill DeWit:
Yeah. You don't rely on just one source is the point. Even and we do that, like you talked about that often when you're picking counties, that's, I'm sure that's what Sandy is doing here doing the red, yellow, green test. So when you'll pull up this resource and you'll double check it with that resource. And I do that, even with doing my due diligence, I'll look a couple of different places sometimes to confirm what I'm looking at is right.
Steven Jack Butala:
When you look at two data sources in general, I'm asking you for real. How often do you find discrepancies?
Jill DeWit:
Not very often.
Steven Jack Butala:
Me, too.
Jill DeWit:
It just makes you feel good.
Steven Jack Butala:
And when you do, it's like, "Okay, well there's a problem." There really is a problem.
Jill DeWit:
Exactly.
Steven Jack Butala:
Today's topic, providing information instead of directly selling. This is the meat of the show.
Jill DeWit:
Okay. So this is about selling land and I would argue that it shouldn't be this hard.