How CRS Data’s Refined Values tool works for real estate professionals
Real estate professionals should always be looking to add more value to their offerings. From garnering a faster response time to acquiring cutting-edge tools and resources, becoming a wealth of knowledge for your community is pivotal to success.
CRS Data’s Refined Values tool is making waves in the home valuation process by allowing its users access to accurate valuations on a range of home improvements. Acting as an invaluable resource for everyone from agents to MLS services, this tool helps fine-tune the value of a home based on improvements that aren’t reflected in the current tax record property value.
To use the tool, CRS Data users can simply log into their property report, enter the room that’s been improved (living room, dining room, bathroom, etc.), the total amount spent on the project, and the overall improvement quality to generate the estimated value of the improvement. These geo-specific values are generated based on extensive home renovation data collected from across the U.S., and the information is backed by Hanley Wood, a leading company in home improvement valuation across North America. Once the user has the data they need, they can save the report as a PDF, email it directly to their client, print it out to bring to a listing presentation or open house, or simply save it for later.
“There’s a plethora of data available in our industry,” says Kari Autry, director of Marketing and Product at CRS Data, who goes on to explain that in addition to the company’s data being useful, their source is vetted and reliable. “We added this feature to help real estate professionals and brokers become more knowledgeable and present themselves well. They can confidently communicate home improvement values based on a vetted, trusted source.”
So the information is accurate and the tool is easy to access, but how does the Refined Values tool work in real-life scenarios? Autry offers the following example: “A real estate professional has a listing appointment with a potential client. The client has mentioned that they’ve recently replaced the roof and remodeled the master bathroom. The real estate professional can plug this information into the Refined Values tool and determine the updated value of their home.”
Another example? Let’s say an existing client calls their real estate professional and asks how much money they can expect to get back when they sell their home if they move forward with the kitchen remodel they’ve had in mind. Autry explains that the real estate professional can type the information into their Refined Values tool and give the client an amount based on both dollars spent and location of the home.
For the real estate professional, Autry explains that the tool can level the emotional side that often comes into play when a client invests their hard-earned time and money into a project and expects to see a return. Often, the client over-values what their improvement is worth not only because it’s sentimental to them, but also because they put a lot of effort into it. The Refined Values tool replaces guesswork with factual data to better serve the client, allowing agents to breathe easier when they enter into these tender conversations.
Joseph Cullom, executive director at Charleston Trident MLS (CTMLS)—a county records provider for approximately 6,500 real estate professionals—has been in real estate for 12 years. For the past 10, Cullom has been using CRS Data to meet his ever-changing real estate data needs.
“CRS Data gives our members a clean, modern, intuitive user experience that allows members to dive deep into the details of properties in the Greater Charleston area,” says Cullom, who originally joined forces with CRS Data to ensure his members had access to premier technology so that they could operate as the local market expert in their respective areas. According to Cullom, the Refined Values tool is a perfect example of this top technology in action.
“The Refined Values tool allows our members to create estimated values for various home improvements,” says Cullom, who notes that his members can now estimate how much value could be added to their seller’s home if the kitchen was remodeled, or the bathroom was renovated. “Through the use of the tool, our members have the ability to offer an even deeper level of insight and expertise. The public demands more knowledge in a faster period of time, and the Refined Values tool and CRS Data allow our members to meet and exceed that demand.”
However, it isn’t just the Refined Values tool that sets CRS Data apart from the competition. “The ease of use of CRS Data is the first thing that stands out,” says Cullom, “but the real differentiator is the company itself.” Cullom goes on to explain that CTMLS looks to partner not only with great products, but also with great people, and stresses that they couldn’t have found a better partner than CRS Data. “Acting as more than simply a software vendor, CRS Data is a true business partner in every sense of the word. They’ve assembled a fantastic team that provides impeccable support. We’ve had complex requests and data needs over our 10-year partnership, and CRS Data was able to solve them every time without fail—and always with a smile.”
For more information, please visit www.crsdata.com.
Zoe Eisenberg is RISMedia’s senior content editor. Email her your real estate news ideas at zoe@rismedia.com.
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