Why Data Quality is Important for Real Estate Marketplaces

Why data quality is so important for real estate

90% of decisions in real estate industry are data driven Source: www.mckinsey.com

Data unlocks new potential for real estate marketplaces

Risk mitigation Improved customer engagement Accurate appraisals Enhanced marketing strategy AI-enabled decision-making process Quick actionable insights

2 Types of Data Useful to Real Estate Marketplaces Traditional

Non-Traditional

Location intelligence

Cost of living Neighborhood Mobile signal Noise pollution Crime rate Coffee shops Schools Medical facilities Traffic

Mortgage Loan Valuation Rentals Consumer behavior Appraisals Market pricing Insurance

Challenges in keeping property listings accurate & updated in real time

Constantly changing status of ownership Incomplete property records

Constantly changing status of mortgage, appraisals etc.

Duplicate property information

Inauthentic data sources

Outdated data (data decay)

Inconsistent data formats Incorrect property information

What constitutes good real estate data?

Accuracy

Timeliness

Consistency

Relevance

Factors that Affect data quality

Validity

Completeness

How automation & technology is navigating property data management  Technology driven omni-channel data capture  Smart tools to validate property information  Scheduled crawlers to capture data across time zones  Robust process to keep database updated all the time  Data wrangling tools to transform data's format  Custom tools for automated cleansing and enrichment  Automation to track and monitor frequent changes in data  Price scraping tools

Key ingredients for high quality property data Technology-enabled solutions

Elevating higher than essential tools

A skilled and scalable workforce

Investment in infrastructure

Technology up gradation

Investment in skills and technology

Manual processes are replaced by intelligent automated tools for

Data Capture

Data Validation

Data Enrichment

Data Cleansing

Data Standardization

Real-time Data Update

Outsourcing real estate data management to qualified data specialists proves cost-effective and a prudent decision.

HabileData processed 6,50,000+ property records monthly for a real estate listing site Solution  Macros, scheduled bots and rule-based scripts scraped and aggregated property data  Data validated and mapped against GIS info, location tracking details, and data from other MLS sites.  Programmable bots added new property information

Business Impact 

Updated and comprehensive property data pool



Enhanced customer experience and engagement



Improved operational efficiency

Click here to read more…

If you are looking for

Increased operational

Optimised

24/7

Seamless

Customized

efficiencies

costs

support

workflow

solutions

Reach out to HabileData for industry proven real estate data management solutions www.habiledata.com | info@habiledata.com