List Wednesday – Consumer List Demographics: Home Market Value
When your product or service applies to a specific demographic, working with home value data can be a critical piece in identifying prospects that are most likely to do business with you. That’s the name of the game when working with lists. The more on target your campaign, the bigger your return on investment.
For years, data compilers relied solely on county data to support the availability and accuracy of this demographic, which resulted in more problems than solutions. Many of the more rural counties in the United States were not making the data available, and those that did had outdated information. Since the data came from the county tax and/or assessor’s office, if a property sat for a period of time such as 15 years – with no reassessment on the property if the home was sold or refinanced – the “current” data being reported to data compilers would actually be the original value, a 15 year old figure.
With today’s turbulent economic conditions having a huge impact on real estate values across the US, data compilers have had to come up with ways to make this data better, so that marketers who use it can market effectively. Although much of the home value data today still originates from tax/assessor data, the information is being reinforced with real estate transactional data and other sophisticated models on the local level to provide a home value amount that is true to market conditions.
If you’re including home value data on your current list pulls with Modern Postcard, know that you’re using very up to date information that has come a long way over the years. KEEP IN MIND that if you’re product or service only applies to owner occupied homes, you MUST also select “Homeowner” on your list pull in order to guarantee that you’re on the mark. Without select Homeowner, you could end up getting renters who simply live in a home valued at the range you’re after.
Modern Postcard has Home Value data available for selection on its online list portal, as well as off-line if you’re working with one of our seasoned Account Managers.
INSIDER TIP: If you’re after super high end homes, ask us about a Specialty List that’s available offline and allows you to select higher home value ranges than what you can select online:
- $250,000 – $274,999
- $275,000 – $299,999
- $300,000 – $399,999
- $400,000 – $499,999
- $500,000 – $599,999
- $600,000 – $749,999
- $750,000 – $999,999
- $1,000,000 – $1,999,999
In fact, this expanded range opens up another 2,604,215 homes to consider for your list.
By Modern Postcard
Call a Direct Marketing Specialist at 800.959.8365.