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Why Perfect Data Quality is Critical For Real Estate Marketplaces

The story is targeted at the importance and challenges of managing high-quality real estate data. It walks the audience through how Intelligent automated tools and expert intervention by outsourcing experts could go a long way in maintaining property data quality.

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Why Perfect Data Quality is Critical For Real Estate Marketplaces

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Presentation Transcript

  1. Why data quality is so important for real estate

  2. 90% of decisions in real estate industry are data driven Source: www.mckinsey.com

  3. 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 

  4. 2 Types of Data Useful to Real Estate Marketplaces Traditional Non-Traditional Cost of living Neighborhood Mobile signal Noise pollution Crime rate Coffee shops Schools Medical facilities Traffic Location intelligence Mortgage Loan Valuation Rentals Consumer behavior Appraisals Market pricing Insurance                  

  5. 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 Duplicate property information Inauthentic data sources Inconsistent data formats Incorrect property information Outdated data (data decay)

  6. What constitutes good real estate data? Accuracy Relevance Factors that Affect data quality Timeliness Validity Consistency Completeness

  7. 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

  8. Key ingredients for high quality property data Technology-enabled solutions A skilled and scalable workforce Elevating higher than essential tools Investment in infrastructure Technology up gradation Investment in skills and technology

  9. Manual processes are replaced by intelligent automated tools for Real-time Data Update Data Data Data Data Data Capture Validation Cleansing Enrichment Standardization

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

  11. 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…

  12. If you are looking for Increased operational efficiencies Optimised costs 24/7 support Seamless workflow Customized solutions Reach out to HabileData for industry proven real estate data management solutions www.habiledata.com | info@habiledata.com

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