REIS (Real Estate Information Services)

Definition

REIS (Real Estate Information Services) is an extensive data service that provides historical rental rates and other vital information on real estate properties. This database covers over 100,000 properties and is used by real estate professionals for market analysis, research, forecasting, and making informed decisions regarding property investments.

Examples

Market Research: A real estate investor uses REIS data to understand historical rental trends in a specific neighborhood before purchasing an investment property.
Valuation Analysis: An appraiser utilizes REIS data to supplement their assessment of a property’s value by comparing historical rental prices of similar properties in the area.
Supply and Demand Forecasting: A property developer accesses REIS data to forecast future rental rates and demand for a new residential project.

Frequently Asked Questions

What kind of properties does REIS cover?

REIS includes data on various types of properties, including residential, commercial, and multi-family buildings.

How is REIS data typically used by professionals?

REIS data is used for market analysis, property valuation, research, and forecasting, helping professionals make informed decisions about real estate investments.

Is REIS data accessible to the public?

Generally, REIS services are subscription-based and geared towards real estate professionals, though some aggregated data might be available via public reports or summaries.

How frequently is REIS data updated?

The frequency of updates can vary, but REIS strives to provide up-to-date information to reflect the latest market conditions.

Can REIS data be integrated into other software tools?

Yes, REIS data can be integrated into various real estate software tools and platforms to enhance analysis capabilities.

Market Analysis: The process of determining the demand, competitiveness, and profit potential of different market segments for strategic decisions.
Property Valuation: The formal process of estimating the market value of a property based on available data and analysis.
Supply and Demand Forecasting: Predicting future conditions in real estate markets by analyzing trends and patterns in supply and demand.
Rental Rates: The price at which property rental services are exchanged in the market.

Online Resources

Reis, Inc. - The official website for REIS that provides detailed information about their services.
- www.reis.com
National Real Estate Investor - Provides news and insights on the commercial real estate industry, including the use of data like REIS.
- www.nreionline.com
CoStar Group - Offers commercial real estate information, analytics, and marketing services. They often provide complementary data to REIS.
- www.costar.com

References

“Overview of REIS Services and Data Use Cases,” REIS, Inc.
“The Importance of Historical Rental Data in Real Estate Forecasting,” National Real Estate Investor.
“Market Dynamics in Real Estate,” CoStar Group.

Suggested Books for Further Studies

“Real Estate Market Analysis: Methods and Applications” by John M. Clapp and Stephen D. Messner
- This book covers various methods and applications of real estate market analysis, using data like those provided by REIS.
“Foundations of Real Estate Financial Modelling” by Roger Staiger
- Provides a solid foundation in real estate financial modeling, incorporating data analysis which can be supported by services like REIS.
“Real Estate Investments and How to Make Them” by Milt Tanzer
- Discusses how data insights into market trends, such as those from REIS, can influence real estate investment decisions.

Real Estate Basics: REIS Fundamentals Quiz

### What type of data does REIS primarily provide? - [ ] Sales pricing data - [x] Historical rental rates - [ ] Construction costs - [ ] Warranty information > **Explanation:** REIS primarily provides historical rental rates, which are critical for market analysis and forecasting in the real estate industry. ### How many properties' data does REIS cover? - [ ] 10,000 - [ ] 50,000 - [x] Over 100,000 - [ ] 1,000,000 > **Explanation:** REIS provides historical rental data on more than 100,000 properties, making it a comprehensive source for market analysis. ### Who primarily uses REIS data? - [ ] Homeowners - [x] Real estate professionals - [ ] Construction companies - [ ] Consumer goods manufacturers > **Explanation:** REIS data is primarily used by real estate professionals for market analysis, research, and valuation purposes. ### Which one of the following is NOT a use of REIS data? - [x] Finding home listings - [ ] Market research - [ ] Property valuation - [ ] Supply and demand forecasting > **Explanation:** REIS data is not typically used for finding home listings; it’s more aimed at analysis and research functions. ### Can REIS data be integrated into other analysis tools? - [x] Yes - [ ] No - [ ] Only with difficulties - [ ] Only in specific cases > **Explanation:** REIS data can be integrated into various real estate software tools and platforms to enhance analysis capabilities. ### Is the information provided by REIS available to the general public? - [ ] Yes, all information is public - [ ] In limited parts - [x] Generally subscription-based for professionals - [ ] Once a year > **Explanation:** REIS information is generally subscription-based and mainly intended for real estate professionals. ### What regularity can be expected for REIS data updates? - [ ] Annual updates - [ ] Once in a blue moon - [x] Frequency varies, aims to be current - [ ] Monthly periodicals > **Explanation:** The frequency of REIS data updates can vary, but the service strives to provide current information to reflect the latest market conditions. ### Does REIS include data on residential properties? - [x] Yes - [ ] No - [ ] Only on commercials - [ ] International properties exclusively > **Explanation:** REIS includes data on various types of properties, including residential, commercial, and multi-family buildings. ### What address can be associated with REIS Headquarters? - [x] 1185 Avenue of the Americas, 30th Floor, New York, NY 10036 - [ ] Liberty Square, Boston, MA 02109 - [ ] California Plaza, Los Angeles, CA 90028 - [ ] 555 Market Street, San Francisco, CA 94103 > **Explanation:** The headquarters of REIS is located at 1185 Avenue of the Americas, 30th Floor, New York, NY 10036. ### Which type of professional would least likely require REIS data? - [ ] Real estate investor - [ ] Property valuer - [ ] Developer - [x] Real estate lawyer > **Explanation:** While a real estate lawyer may indirectly benefit from market information, they are less likely to require direct access to REIS data, which is more often used by investors, valuers, and developers.