Working Strategically with Real Estate Data in WealthPoint®
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The details in your WealthPoint data can add insight into your constituents. Here's how!
One of the most common assets returned is real estate and sometimes the only item that is returned is an individual's primary residence. Taking additional insight on single or multiple property owners can keep you from dismissing an individual. As you know you can query on each of the WealthPoint resources. When choosing Real Estate choose confirmed = yes and Date of Contract or Recording Date and choose a date range. For instance, in my query below I chose either a date of contract or recording date before 1/1/1995.
Many of these individuals may have paid off their mortgage. This adds an additional layer additional dollars for giving. For example, I found a person who owned a home valued at $3,500,000 and they purchased the home originally in 1993 for $1,500,000. That is a nice return and by not having a mortgage payment may mean they could make a larger gift to you. Just think on what that means for those who own multiple properties.
As I am sure many of you have seen commercial real estate can be greatly undervalued. In my output fields I like to have number of properties (sorting in descending order) and value of properties. Who are those that have a larger number of properties, but the value appears to be low. Great opportunity to review those. I discovered someone who owned four parcels of forest land all valued around $20,000. The smallest parcel of land was 3 million sq. ft and the rest round 10 million sq. ft. This is potentially a lot of incoming producing real estate and could have been overlooked.
Remember in one of the updates of ResearchPoint® is when you query on "is one of" and it allows you to paste a list. My example below is looking for top executives at private companies.
Finally, don't forget to query on match codes. Each resource has a series of confidence levels. I have found that many of those at confidence level 3 or 4 do indeed below to the individual. Once your results come up I start with those with an unusual last name versus the John or Joan Smiths of the world.
Happy Prospecting!
Many of these individuals may have paid off their mortgage. This adds an additional layer additional dollars for giving. For example, I found a person who owned a home valued at $3,500,000 and they purchased the home originally in 1993 for $1,500,000. That is a nice return and by not having a mortgage payment may mean they could make a larger gift to you. Just think on what that means for those who own multiple properties.
As I am sure many of you have seen commercial real estate can be greatly undervalued. In my output fields I like to have number of properties (sorting in descending order) and value of properties. Who are those that have a larger number of properties, but the value appears to be low. Great opportunity to review those. I discovered someone who owned four parcels of forest land all valued around $20,000. The smallest parcel of land was 3 million sq. ft and the rest round 10 million sq. ft. This is potentially a lot of incoming producing real estate and could have been overlooked.
Remember in one of the updates of ResearchPoint® is when you query on "is one of" and it allows you to paste a list. My example below is looking for top executives at private companies.
Finally, don't forget to query on match codes. Each resource has a series of confidence levels. I have found that many of those at confidence level 3 or 4 do indeed below to the individual. Once your results come up I start with those with an unusual last name versus the John or Joan Smiths of the world.
Happy Prospecting!
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06/24/2024 1:53pm EDT
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