{"id":20050,"date":"2018-01-29T01:00:08","date_gmt":"2018-01-28T14:00:08","guid":{"rendered":"https:\/\/www.realestatetalk.com.au\/?p=20050"},"modified":"2018-01-29T01:00:08","modified_gmt":"2018-01-28T14:00:08","slug":"diy-property-research-tool-ben-kingsley","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/diy-property-research-tool-ben-kingsley\/","title":{"rendered":"DIY property research tool \u2013 Ben Kingsley"},"content":{"rendered":"<p>No longer does desktop property investment research have to be hit and miss.\u00a0 <a href=\"https:\/\/wz363.isrefer.com\/go\/SUBS-PAGE\/RealEstateTalk\/\" target=\"_blank\" rel=\"noopener noreferrer\">Location Score<\/a> is a program that identifies and classifies every property in Australia and we tell you how to get it.<br \/>\n<strong>Transcript:<\/strong><br \/>\n<strong>Kevin:\u00a0\u00a0<\/strong>Ben Kingsley joins me. Ben is the CEO and founder of Empower Wealth. I want to tell you about a program that we\u2019re supporting and I\u2019d suggest you have a look at. It\u2019s called LocationScore.<br \/>\nBen, firstly, welcome to the show, and thank you very much for giving us the opportunity to talk about this. Tell us about LocationScore. How did it come about, and how does it work?<br \/>\n<strong>Ben:\u00a0\u00a0<\/strong>Thanks for having me on. LocationScore is a passion project that is really driven by getting better research out there for people who want to do it themselves. Yes, Empower Wealth helps people who want professional advice, but there are a lot of DIYers out there, and we\u2019re really worried about the types of asset selections and the locations in which they are buying. Ultimately, property is a high value transaction, so it\u2019s really important that you pick the best location to buy in.<br \/>\nJeremy Sheppard had developed an algorithm that measures the demand and supply ratio, and we\u2019ve put that together and created LocationScore to help people work out where there is high demand and low supply \u2013 because ultimately, that leads to capital growth, and at the end of the day, that\u2019s what we\u2019re looking to invest in. We want to get a return on our investment.<br \/>\nEffectively, what we\u2019re doing is measuring some of these key variables, eight variables about how we can measure those demand and supply stories, and we put them into a score so that it\u2019s really easy for people to put all this together and then find out the best location.<br \/>\n<strong>Kevin:\u00a0\u00a0<\/strong>In LocationScore, when you go in and you score a particular area, how defined is it? And is there some guide in there to say \u201cThis is worthwhile having a look at\u201d?<br \/>\n<strong>Ben:\u00a0\u00a0<\/strong>It\u2019s a massive timesaver, because ultimately, let\u2019s have a look at some of the sort of things we\u2019re measuring. We\u2019re measuring things like days on market, stock on market, average vendor discount, vacancy rates. We\u2019re measuring these eight key indicators, and we put a weighting on each of those and collaborate that into an algorithm that gives us that final score.<br \/>\nSo, we\u2019ve done all the heavy lifting across 16,000 suburbs in Australia. Because we can sit there for hours. People do search, they look around; that\u2019s not research. What this is doing is basically pointing you into the right suburb location for where you should then start to do your field research.<br \/>\nIt\u2019s a great way of saving time and knowing that you\u2019re buying in an area where there is really good demand, which means that we have potentially short-term capital growth, that one- to three-year capital growth window that we\u2019re trying to look for.<br \/>\n<strong>Kevin:\u00a0\u00a0<\/strong>How up to date is the information? Anything like this is only ever as good as the accuracy of the information behind it.<br \/>\n<strong>Ben:\u00a0\u00a0<\/strong>Each month, we gather literally millions of data points right across Australia. The latest data is the December data, but every month, we release the new data, usually around the 10<sup>th<\/sup>\u00a0of the following month. Now it\u2019s January; we have the December data there.<br \/>\nSo, this is using a lot of information, a lot of data-mining in trying to get that information, data that we\u2019ve purchased as well. And we\u2019re putting all that together and coming up with a score for every suburb, for both houses and units, because one of the other things, too, is we know is that units can sometimes have over-supply but houses in that particular suburb might be absolutely worth buying into. So, it is also about breaking that down between houses and units.<br \/>\n<strong>Kevin:\u00a0\u00a0<\/strong>It\u2019s the starting point, I guess, for any research, isn\u2019t it? If you want to know about a particular area, then you can drill down even further once you\u2019ve decided on the area that has the most promise, Ben. Is that how it works?<br \/>\n<strong>Ben:\u00a0\u00a0<\/strong>Yes, Kevin, I think you\u2019ve nailed it. For us, it really is all about cutting down a lot of those research hours and trying to then identify those suburbs. It\u2019s really easy to use, because we do two things. We have basically a filter which gives you the top list of suburbs in the different states, in the different cities, so that\u2019s ranking suburbs inside those areas, and then you can also search for every suburb in Australia. So, two very simple means.<br \/>\nAnd there\u2019s this gauge that says, \u201cDanger, caution, maybe, good, or excellent.\u201d The higher the score, usually the better the suburb that you\u2019re buying in.<br \/>\n<strong>Kevin:\u00a0\u00a0<\/strong>Okay. Crunch time. What\u2019s the price? How much does it cost?<br \/>\n<strong>Ben:\u00a0\u00a0<\/strong>We\u2019ve made it very, very affordable. You can buy it for a week for $47. Then you can go into maybe the overall subscription for three months, which is $97. So, it\u2019s really cheap to be able to get into getting some good research and having all of those numbers crunched and refining that into a score.<br \/>\nNow, when you run the numbers, you also get a breakdown of each of those variables, so you\u2019ll actually see a chart of each one of those variables trending over time. You see the overall score, but then you\u2019ll see the breakdown in terms of auction clearance rates, days on market, stock on market, and there are a lot of educational videos on the site that will help explain what each one of those do to the overall property value.<br \/>\n<strong>Kevin:\u00a0\u00a0<\/strong>Okay, so if you\u2019d like to learn a little bit more about it, I recommend that you go and have a look. Use the link on the homepage at Real Estate Talk; that\u2019ll take you directly into the site and will give you all the information. So, just use the link on Real Estate Talk, or watch out, we\u2019ll be sending out some mailers about this as well. It\u2019s a great tool, it\u2019s called LocationScore, and you can get all the details by using the link here at Real Estate Talk.<br \/>\nBen Kingsley, congratulations to you and the team there for all the work that you\u2019ve done on putting this together, and I wish you every success.<br \/>\n<strong>Ben:\u00a0\u00a0<\/strong>Thanks very much, Kevin. We appreciate it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>No longer does desktop property investment research have to be hit and miss.\u00a0 Location Score is a program that identifies and classifies every property in Australia and we tell you how to get it. Transcript: Kevin:\u00a0\u00a0Ben Kingsley joins me. Ben is the CEO and founder&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":20051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,10,11,13,36,22,25],"tags":[101],"class_list":["post-20050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-property-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-research-topic","category-sponsored-channels","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DIY property research tool \u2013 Ben Kingsley - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/diy-property-research-tool-ben-kingsley\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DIY property research tool \u2013 Ben Kingsley - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"No longer does desktop property investment research have to be hit and miss.\u00a0 Location Score is a program that identifies and classifies every property in Australia and we tell you how to get it. 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