Florida Realtors economists: If the home is great but the traffic in the surrounding area is not, the deal might fall through. But a cool traffic tool can empower you to know if traffic in that home’s neighborhood will get the “green light.”
ORLANDO, Fla. – The adage “location, location, location” speaks not only to the destination, but the journey as well. Understanding traffic flows can give Realtors® insight into one of the most important aspects of some clients’ home buying decision.
INRIX, a company that collects road sensor and vehicle data to analyze transportation patterns, released a U.S. Signals Scorecard and a companion Signal Scorecard Map in February 2021. The report and map bring a new layer to the location conversation.
Earn more street cred
Consumers can find an abundance of housing information online. Still, they need real estate professionals as their advisors to make the best decisions. You know your local market, and INRIX’s scorecard can add a unique twist to your expertise.
Floridians experience 1,734,506 hours of traffic delay on average every day, according to INRIX’s signals report. No one wants to sit in traffic. You can apply their insight as an additional tool with buyers. (INRIX used October 4-10, 2020 as a “typical” week for the new “Pandemic” paradigm)
Consider using the map to give detailed context to local buyers (already conversant with the traffic anecdotes) still determining where to reside. Better, it can be used with out-of-state buyers flocking south. Open the map visualization while discussing important destinations – office, family and recreation – and preemptively discover any bottlenecks that could influence their decision. You may even be able to recommend looking for a home on one side of an intersection that may be more favorable for that family’s commute than the other.
Customers won’t forget the added engagement and exceptional level of customer service.
Get the conversation flowing
Realtors play an important role in their communities – as citizens, government officials, advocates and more. As the professionals on the ground selling their communities, Realtors have a unique perspective on what particular areas sell quickly, which ones linger on the market, and why. They know that particular intersections, neighborhoods and other spots with bottle necks or choked access to major arterial roads make them less desirable to buyers.
Take some traffic patterns noted in the INRIX tool in Seminole County, for example. Seminole County, just northeast of Orlando, has been experiencing tremendous population growth over the last two decades and continues to densify in both people and housing stock. As a result, some new bottlenecks have emerged that didn’t exist before, and they are easily identifiable on the map. Areas that used to be easy to get around have become more difficult, which also makes it less desirable for a buyer.
A connected Realtor could take this very specific information to their local city council to inform them of the problem, describe the issues that have arisen for clients, and seek relief in the form of traffic studies and mediation.
This tool, coupled with their own field experience, creates an opportunity for Realtors to engage with their local city councils on traffic issues that may be hindering their ability to sell in a particular area.
According to the scorecard, Florida has 11 of the top 25 worst urban intersections in the U.S.:
2. Escambia County, West Nine Mile Rd & N. Palafox St
7. Miami-Dade County, Hialeah Gardens Blvd & N.W. 138th St
14. Pasco County, Land O’ Lakes Blvd & FL 54
15. Miami-Dade County, E. Palm Drive & Dixie Highway
16. Broward County, Federal Highway & E. Commercial Blvd
18. Osceola County, John Young Parkway & West Vine St.
19. Polk County, Martin Luther King Jr. Blvd. & 8th St N.W.
20. Broward County, Federal Highway & E. Hallandale Beach Blvd
21. Hillsborough County, U.S. 301 & Adamo Drive
24. Hillsborough County, Gibsonton Drive & U.S. 301
25. Miami-Dade County, S.W. 152nd St & S.W. 137th Ave.
Is one of these worst intersections in your market? Knowledge of traffic patterns can lead to better advisement for clients and community officials. Your recognition of a congested intersection can lead homeowners to a location that is more travel friendly to the places they go most often – work, school or recreation.
Realtors can be the change in their communities and the Signals Scorecard map is a new way to bring data to the discussion.
Erica Plemmons is an economist and Director of Housing Statistics;more Jennifer Quinn is an economist and the Director of Economic Development
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Author: kerrys