GIS (Geographic Information Systems) technology is now a fundamental tool in the real estate industry. It is very important in the work that we do here at RSG
GIS, a technology that has been improving over the years, is now a mainstay in the real estate industry for site selection. Real estate brokers and appraisers use GIS to accurately analyze commercial properties and their attributes through demographics, aerial photographs, traffic counts, shopping center usage, merchandise potential, and competitive influence.
According to Directions magazine, GIS technology gives commercial and residential real estate companies the information they require to analyze market potential and trends associated with their customers’ needs. Dr. Stephen McElroy, GIS program chair at American Sentinel University, says, “GIS is all about location, and location is fundamental to success in real estate. By analyzing data around locations, real estate professionals can target properties to match exact specifications and deliver the answers needed to make the most intelligent choices.”
GIS enables us to perform market analyses in a more meaningful, accurate way. Geospatial technology is used in property research, market analysis, and spatial analysis, explains an article in GIS Lounge. Instead of combing through catalogued paper documents at the county courthouse to find records of ownership, sales history, and other parcel documentation, GIS enables researchers to search electronically for property records, many via the web with relevant documents hyperlinked to each parcel.
At RSG, we use GIS for real estate, economic development analysis, and other project work to assist our clients in making “data-driven” decisions. Talk to us to learn more about our capabilities with GIS and other new technology.
Written by Andrew Gee, Senior Associate at RSG.