What is property data?
Property data, or real estate data, is used in a variety of ways within the real estate industry. Appraisers use this data to determine the market value of a given property, and insurers use it to better understand what they are insuring. In addition, homeowners or agents can gather this information and use it to understand the homeowner history of a property, verify the fairness of valuations, and gain other mortgage-related insights.
But what does this mean for you, a real estate agent, and how can you leverage this property data to improve your business?
How property data helps to grow your business
There are many ways that property data can be used by real estate agents to increase their revenues or gain new clients. While this isn’t a list of all possible uses, it gives a good overview of ways that property data can give you a competitive advantage in the industry:
Identify potential clients (both local and out of state)
Use property data to see if sellers have had their home on the market for numerous months. This can indicate that they are looking for a new agent, and provide opportunities for you to capitalize on.
Effectively analyze the property market
Compare property values to ensure that you are providing your client with the best possible fit for their budget and needs. Staying ahead of the game with this information will improve your credibility when in talks with potential clients.
Optimize your content marketing strategy
Strengthen your marketing. By analyzing property data, you can know what buyers in the area are looking for in a home, and cater your content strategy to revolve around these key desires.
Sell homes easier by catering to specific property characteristics
Property data can help you understand the differentiating features of your inventory, compared to other homes in the area. If two houses are comparable to each other, being aware of these differences can help tip the scale in your favor.
Accurately measure your performance
Learn which metrics are most important to your business, and use these metrics to monitor how the performance of your company changes over time. This information is crucial to know when adjustments should be made to your methods or pricing.
Gain an edge on your competitors via data-driven insights
Those who utilize property data have a significant advantage over agents who don’t. Understanding your market share, which features buyers are currently looking for, and how your homes stack up to the competition, helps to position you for success.
Be more knowledgeable during negotiations
When faced with pushback on the price of a home, property data that shows the selling prices of similar houses, as well as how long they were on the market for, makes negotiations much easier. Buyers feel better knowing how their offer stacks up, and analyzing real estate data ahead of time helps you to be prepared for these discussions.
Traditional methods of collection
In most cases, real estate agents have to go through a mundane and inefficient process of gathering the property data they need. Many agents analyze data from a variety of sources, often having to purchase datasets that contain more information than they’re looking for.
For example, if an agent wants to see the property characteristics of a home in New York, they might have to purchase an entire dataset that includes sales history, previous owners, mortgage information, and geographic insights. If the property characteristics were all they cared about, they would have no way to get this data without being charged for excess information that will go unused. On the flip side, if an agent wants to see the sales history of homes in Denver, Salt Lake City, and Phoenix, they would have to purchase the property data for each individual city, then compile the information themselves. This can become very expensive, very fast.
Not only are these methods of data collection time-consuming, but the resources that they drain could be better spent contacting leads, showing houses, or closing deals. Time is money, and the easiest way to save such time is implementing a system that allows you to view and analyze the real estate data you need, all in one place, without any unnecessary information. Import.io is the solution you need.
The Import.io difference
Import.io understands the hassles and inefficiencies that come with property data collection, and has created Web Data Integration (WDI) to help alleviate some of these pressure points.
With WDI, collecting the data you need is easy. Instead of having to piece together data from multiple sources, or spend money on excess data that you don’t need, our services provide solutions for real estate agents to access datasets which contain all the necessary information, without any fluff. Select your own parameters (which states to include, the price range you’re interested in, etc.) and receive a dataset in minutes, specifically tailored to your needs. Efficiency is everything, and WDI’s ability to scrape records of properties from across the web allows for users to gain insights through the most efficient real estate data collection possible.
To learn more about how Import.io can help your real estate business improve its property data collection and analytics, contact one of our data experts today.