You asked for it, and it’s here!
FVREB’s StatsCentre has been upgraded to include several new fields that will help members compile statistics relevant to their clients. Statistics that are more specific will help you show to your clients why you’re the expert in your local area.
How will I benefit?
FVREB is the first Paragon-based Board to upgrade our Stats Centre, meaning members can pull more detailed stats on properties located in the Fraser Valley Real Estate Board, The Real Estate Board of Greater Vancouver, BC Northern Real Estate Board, and Chilliwack and District Real Estate Board.
That’s right, FVREB Members will have access to exclusive data. You’ll be happy to learn that FVREB members will be able to pull specific stats from other Boards before their own members can.
Now that’s a real advantage of being an FVREB member!
Same look, new tools
The Stats Centre interface hasn’t changed, but when you log in on the 19th, you will have new search options available. You can access these new fields and categories by clicking the arrow on the right-hand side of the menu.
What is changing?
The new StatsCentre will help you help your clients by narrowing down data that is more relevant and granular. You’ll be able to input criteria that narrow down statistics on a comparable property, inventory, and sales activity.
New Categories
- Number of Bathrooms
- Number of Kitchens
- Year Built
- Lot Size (SQ FT)
In addition to the new categories, we now have all property types from Paragon Residential to StatsCentre.
New Property Types
- Detached and attached combined (detached houses, townhouses, and apartments all in one search).
- Manufactured
- Manufactured with Land
- Multi-Family (includes duplexes, triplexes and fourplexes, and all the categories you would find under the Multifamily category in Paragon)
- Land (Residential only)
How can I use this upgrade StatsCentre to leverage my business?
Suites
Members can now look up statistics on homes that have more than two or three kitchens (hint hint – a suite or a spice kitchen)
Some sellers want to see how much a home with more than two kitchens will sell for. Suites have become a very valuable part of some homes, because of their potential to be a mortgage helper. With mortgages at the highest in more than 20 years, a little help can go a long way.
Breaking out certain categories
With the four new categories, you’ll be able to compare how certain variables (age, number of bathrooms/half bathrooms or lot size) could change the value of a home.
How to use the breakout feature
This feature can only be used to compare one category at a time and cannot be used to compare variables in more than one category at a time. To use the breakout feature, click the double arrow icon on the top right-hand corner of the category you would like to compare.
Example: Your clients want to know what the average price difference is between one kitchen and two kitchens. With the breakout feature, you can create a graph or extract the data in less than one minute.
As you can see, in January 2023, there was a price difference of more than $165,000 for a detached home with an additional kitchen.
While new detailed search options are available, there is a limit to how granular you can go. For example, you can search for a single-family home in Abbotsford, with two kitchens. But you cannot search for a single-family home in Mission, with five bathrooms, three half bathrooms, 7 bedrooms, on a 1,000 sqft lot.
Why can’t I see the HPI prices when I input the number of rooms, bathrooms or kitchens?
Nearly all data available on StatsCentre is directly pulled from Paragon Residential. HPI data such as Benchmark prices or HPI Index is manually uploaded once we receive the data. If you want to know what a typical home looks like in a certain sub-area or area, you can use the HPI Dashboard or read the HPI Benchmark Comparison report, both hosted on the MLS® HPI page on FVREB Connect.
Have any questions?
Contact HelpDesk at 604-930-7626 or email helpdesk@fvreb.bc.ca.
Happy stats-hunting!