Which are the 5 Ways Customers Use Real Estate Market Data?

 

Real estate has always been a major participant in the investing industry, and it will continue to be so. The explanation is simple: we all require real estate to construct homes and operate businesses.

It's tough, but not unattainable, to get the most out of a real estate investment. The goal is to understand market trends and look for opportunities. Many people have made it large in real estate, including Shark Tank star Barbara Corcoran and US President Donald Trump.

If you buy the perfect property at the right moment and the right price, the real estate may be a gold mine. Discovering that huge RIGHT, on the other hand, is an issue that real estate investors are facing. To aid in their purchase decisions, investors are looking to real estate market data or housing market data.

Simply defining, web scraped data from real estate portals are known as real estate market data or housing market data. X-Byte Enterprise Crawling has scraped real estate data for a number of real estate companies. Here are 12 ways they use real estate market data to outperform their competitors.

1. Real Estate Data Enhances Companies to Monitor Competitor Inventory

Real estate websites are usually a two marketplace where buyers and sellers can communicate. The volume of inventory available on the real estate portal is one of the most important aspects that attract purchasers. The better the prospects you attract, the more inventory you have.

The volume of merchandise combined with good search engine optimization can improve the visibility of your search results. This will increase in total visits and, as a result, sales. Monitoring and analyzing the inventory details of competitors can give some intriguing facts.

We've collaborated with a US-based real estate web. Our client required information from seven of their competitors' websites in a total of twelve cities. Using our cloud-based platform, we created data extractors that were fed into our customer's analytics tool. The customer was ready to see how their competitors are doing in terms of inventory development in various real estate segments. This information was used as a baseline for developing strategic initiatives to improve their inventory development.

2. Real Estate Information that Assists to Track Inventory Distribution Across States, Cities, and Zip Codes

Understanding the quantity of the inventory isn't enough for data-driven businesses. They require data on how it is dispersed throughout states and localities, down to the zip code level if possible.

Companies compete on a national basis in all 50 states of the United States. The distribution of inventory among them, on the other hand, varies greatly. Knowing these dynamics can be extremely beneficial to businesses attempting to reach the market's apex.

Even if a real estate portal is number one in terms of total listings, it may be behind in key markets where there is a lot of activity. That is a void that must be filled.

Customers need zip code-level property listing data from competitor sites to figure out how it was disseminated. We extracted the data for her, and she plotted it on state maps in the United States using Tableau. On the Tableau dashboard, there was an obvious trend and a lot of interesting insights.

Our customer researched by strategically locating and putting billboards to determine whether the dynamics changed. There was a considerable difference in inventory increase within a month, and it was proportional to the billboards. It was a clear road to success when they opted to select more strategically significant positions.

3. Real Estate Information Helps Companies to Track Rates of the Properties

For buyers and sellers in the real estate sector, pricing is a deal maker or breaker. Property investors and sellers must obtain the best possible price for their properties.

How do you determine what a region's fair market price is? You can get pricing information from real estate portals to find this. You can collect time-series data of the prices if you watch them long enough, and this can be used to benchmark the base price. You may also create a predictive analytics model to predict future prices.

X-Byte Enterprise Crawling worked with a significant real estate brokerage firm to keep their sales reps up to date on inventory movement, price adjustments, and other information. We kept track of price fluctuations on 12 different real estate websites. The scraped data was fed into their in-house analytics engine. The output was provided via an API, and sales reps could view visualizations of pricing data and other relevant information via an APP on their tablets and phones. Sales reps were able to better engage prospects and sell more as a result of this.

4. Real Estate Information Helps to Understand Shelf Velocity of Competitor’s Industry

Real estate was sold and bought like popcorn just before the 2008 housing collapse. One of our investors told us that the shelf velocity in Dubai was on weed. It's likely that by the time you examine a home and do your due diligence, it'll have sold at least three times in a month. His company became fearful and sold all of its properties just as the crisis began.

Shelf velocity, or how quickly inventory is sold, is a key performance indicator that real estate investors must monitor. A slow shelf velocity and a high self-velocity indicate that something is wrong.

5. Which Properties are Entering the Market and How Are they Performing?

A real estate website contains information on everything from modest dwellings to large buildings. If you take the top ten real estate portals in a city, you'll be able to cover more than 90% of the available inventory.

Before entering a market, an investor must be well-versed in a variety of topics.

• What kinds of inventory are on the way to the market? (Villa, Whole building etc.).
• In each segment, what is the shelf velocity?
• Which portals are the most popular in each segment?
• Which areas of the city/state/neighborhood provide the biggest contributions to the inventory?

Many of these issues can be answered using real estate market data. We're collaborating with a hedge fund that need market data in order to respond to the questions above.

To acquire data from real estate websites, web scraping is the best option. On our cloud-based data extraction platform, we build up data scrapers. To better understand market dynamics, we gathered data from 20 websites from various nations.

In addition, real estate market data can be utilized to obtain the following information:

• To learn about the many types of properties in the state's inventories.
• To assist real estate brokers in better negotiating with their clients.
• To understand how to make the best use of limited resources and prioritize marketing spend. To assist real estate investors in making informed purchasing decisions.
• To make safe investment decisions, link crime rate statistics with inventory demographics.
• To combine information from several sources in order to determine what types of amenities and emergency services are accessible in the area.
• To assess the commercial viability of concepts by correlating property data with foot traffic data.
• Public documents, such as plans for future infrastructure development, might provide insight into the real estate market's direction.
• Develop residential and commercial market forecasting algorithms.

Want to build up Real Estate Firm and Leverage the Data to Boost your Business? Contact X-Byte Enterprise Crawling today!!

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