There might not be any better person to make sense of the city’s enigmatic market than Bullpen Research & Consulting Inc.’s Founder and President Ben Myers. An experienced researcher in his own right, Myers’ mission is to help land owners, developers and lenders decipher the finer points of their respective holdings and interests.
“I’ve been doing real estate research for 15 years and worked for a company called Clayton Research Associates, where I did residential studies,” said Myers, adding he’s done similar work for developers and lenders, too.
“With Bullpen, I’ll be working with builders, developers, lenders, land owners, real estate brokerages, looking at data and trying to help developers determine what the value is of their properties, what they should sell units at, what mix of units should be, built form, unit sizes, floorplan layouts, amenities within the project, what they should charge for parking, and what they should charge for condo fees. Anything that’s data-related, I’ll try to lend my assistance to figure out the best way to go about it.”
Bullpen will, in fact, cover the entirety of Ontario, although it’s safe to say Toronto will keep Myers a busy man. The firm will likely release two monthly reports analyzing the high- and low-rise, and land, markets by pooling together data from myriad sources, including interviews with industry insiders.
The recent ruling in the competition bureau’s litigation with the Toronto Real Estate Board to open up sold data should also factor into Bullpen’s analysis.
Myers teased an upcoming Bullpen report “looking at big data.”
“I’ll be looking at what popular units are, in terms of web clicks, popularity online, traditional ways of going on competitive sites and talking to agents and getting an understanding of what people are looking for, the price range people are looking for, and what competitive sites are selling for,” he said. “I’ll extrapolate from there what the best-selling units in a project are and what price ranges can be charged at a project.”
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A new research and consulting firm will attempt to make sense of the madness in Toronto’s real estate market by compiling comprehensive data and, in the process, helping different industry players maximize their bottom lines.