Utica Neighborhood Housing Services NeighborWorks HomeOwnership Center has developed data-gathering and statistical methods to determine its economic impact and market share, which help measure its community achievements.

Utica Neighborhood Housing Services opened in 1979 with a mission to revitalize and promote growth in targeted neighborhoods in Utica, New York. The organization has expanded three times since 1996 to include the city of Utica, Oneida County, and Herkimer County. It provides Full-Cycle Lending services, including homebuyer education, counseling, purchase and rehabilitation lending, and house rehabilitation assistance. The organization became a NeighborWorks HomeOwnership Center in April 2000.

The Reports.  The HomeOwnership Center has created two reports to demonstrate its impact. One, a Market-Share Report, compares agency data with statistics from the Board of Realtors to indicate the percentage of the market it serves. The other, an Economic-Impact Report, shows the actual dollars the center’s programs contribute to the local economy.

Measuring Market Share.  The HomeOwnership Center is a member of the Utica Board of Realtors and, therefore, is entitled to view and use the board’s statistical information. To measure market share, the service area under analysis is broken down into sections: north, south, east and west Utica, and the remainder of Oneida County. The HomeOwnership Center’s statistics (the same as those collected for NeighborWorks America, using Nstep software) then are compared with the Board of Realtors’ statistics. Data are collected from both sources, and a spreadsheet is set up to compare the data through ratios.

Report Purpose.  The market-share report indicates impact and penetration in the local housing market. An organization’s market share must be analyzed to accurately measure its success. The report measures The HomeOwnership Center’s annual goals and shows if it is adequately serving its target area. The report shows which neighborhoods have the highest level of home purchases and also provides a tool to gauge staff performance.

Measuring Economic Impact.  To measure economic impact, The HomeOwnership Center tracks dollars invested during loan transactions (including purchase, rehabilitation, emergency repair and purchase-assistance loans). Staff also track funds from the loan pool and other entities involved in the transaction. This includes appraisal fees, construction fees, recording fees, homeowners insurance, as well as postpurchase spending on furniture, appliances, and so on. This report shows the organization’s larger economic impact. The total spent during these transactions represents a significant investment in the local economy. The HomeOwnership Center gleaned this tracking method from Home Headquarters, in Syracuse, New York, another NeighborWorks organization.

A Marketing Tool.  Once the analyses have been made and the organization knows its market share and economic impact, this information can be very effective in marketing the organization. The HomeOwnership Center uses the results of the reports whenever possible. They provide excellent information to funders, real estate agents, customers, and potential partners. They show how much work the organization is doing in the community. They also are appropriate to include in annual reports, newsletters, community presentations, grants, reports, and business plans. In addition, they are good information to share with local politicians and can be used with businesses considering an employer-assisted housing program.

• The market-share report shows that The HomeOwnership Center obtained a 30 percent share of the Utica market at the end of July 2002. These homebuyers were provided with homebuyer education, counseling, purchase loans, and/or purchase assistance.
   
• The economic-impact report indicates that The HomeOwnership Center’s services have contributed nearly $6 million annually to the local economy.
   
• The reports show that The HomeOwnership Center is a community leader, providing important community resources. Partners and affiliates are very concerned about major investments in the local economy, and now are paying attention to The HomeOwnership Center’s services. The reports have helped the center grow and build resources.

• Joining the local Board of Realtors will allow your agency to access useful market information. It will also help build a strong relationship with Realtors, who can provide customer referrals to your organization.
   
• Use the information generated from these reports. Tell everybody. Consider it the strongest marketing tool available and don’t be afraid to brag.
   
• Some Realtors are uncertain about becoming involved with The HomeOwnership Center. Many believe their income potential is low when working with a nonprofit organization, and worry about having to process excess paperwork. Some Realtors will be skeptical, while others will embrace this as a new opportunity. If a Realtor shows resistance, accept it and find ways to ease his or her fears or reservations.
   
• Staff must be proficient and consistent in tracking and reporting the results every month. In addition, staff must have a comprehensive and easy-to-use system to provide the statistical information. A reliable system makes this process easier and more efficient, enabling staff to produce the figures in a timely manner.

Agency interview with: Janice Forte