Data-led Transformation In Real Estate Industry
Estimated Reading Time 9 min
AIMLEAP Automation Works Startups | Digital | Innovation| Transformation
Someone – In which business industry are you working?
Me – An industry of dreams, I replied…
Yes, I work in a company that fulfills dreams, the dream of having my own property. Working in a real estate business that is about helping individuals buy and sell properties has been a unique experience. Property has been used for decades to build wealth. We all want to have our own property since it is not just a place where we dwell, it’s an asset that often grows over time. While fulfilling the dream of people having their own properties, we have learned that it is a necessity to understand every specific requirement deeply. In this case, data plays a helping role.
Real estate is counted among the fastest-growing industries in the world.
The size of the global real estate industry is anticipated to increase by $3386.11 billion from 2021 to 2022, representing a 10.5% compound annual growth rate (CAGR).
The key to winning in this ever-evolving industry is data. Now you need to have access to technology and data, in particular, to differentiate yourselves in a market that relies heavily upon word-of-mouth referrals. To achieve digital transformation, you need vast amounts of data.
The Usefulness Of Big Data In Real Estate
Real estate agents have always gathered and used data to help property buyers and investors choose the right homes. The development in real estate, however, is the granular amount of data that is now being accumulated together with the use of sophisticated, well-studied tools.
Big data analytics helps real estate companies to increase efficiency, reduce expenses, and improve decision-making, allowing them to become nimbler and provide better client service and experiences. Data enables companies, developers, and investors to precisely assess risks and spot lucrative opportunities.
But the question is, how to extract data?
A cutting-edge data scraper!
The reality of the tech-powered world has inspired businesses to put real estate data scraping on autopilot mode. A strategically developed real estate scraper can pave the way for getting data more accurately and efficiently. Web scraping real estate for high-quality data will become a breeze with the set of right tools and technologies.
Data Led Transformation by Web Scraping Real Estate
In a McKinsey survey of 800 executives, it was found that 85% of businesses worldwide had expedited their digital transformation. 67% of respondents said automation and artificial intelligence were their main concerns.
The automation trend has not spared the real estate industry. Real estate businesses are starting to make significant investments in technology across several industries, and they are experiencing success. For web scraping real estate data from relevant sources, they are using an AI-powered real estate scraper and achieving data-led transformation. Following are the ways real estate data is transforming the companies working in this industry.
1. Market Estimations
Estimations based on data are more precise and help businesses understand the market better.
Long-term market estimates influenced by macroeconomic and demographic data give you a better idea of a region’s crime rate, amenities, upcoming development projects, and more.
Ensure that the data you are collecting is accurate so that the estimations you make become more precise. Web scraping real estate data using a dynamic real estate scraper is an ideal way of building a strong database that can be used to do analysis and research.
Scrape data from platforms like Zillow and Realtor.com to expand your reach to a broader market effortlessly.
2. Marketing strategies
The more a business is aware of its clients, the more effective are its marketing initiatives. Data collected from private and public sources, business surveys, social media, and other sources of information plays a major role in helping businesses understand their audience to generate effective marketing strategies.
64% of marketers strongly agree that data-driven marketing is crucial to the success of their company.
Data-driven marketing aims to turn the company’s data assets into revenue. Converting big data into insight necessitates combining analytics science with the art of translating the emerging insights into actionable wisdom.
What is the best way to collect data to build effective marketing strategies, then?
For real estate data scraping, integrate a smartly developed real estate API with your business system and get accurate data that can assist you in targeting the correct audience demographics by gender, age, preferences, interests, and geography. To improve and optimize marketing campaign interactions rely on web scraping real estate sites.
3. Improved Customer Experience
Imagine pushing an email to a customer’s inbox about a commercial property, but their requirement is a residential property in a posh area.
All your efforts will go in vain!
The audience needs personalized emails from companies. Stats say,
72% of consumers only respond to customized messaging.
Personalized messaging is the only way they will reply and take a step forward.
Being an agent or a real estate business marketer, you can increase your capacity to deliver stunning experiences by web scraping real estate data from public and private data sources like websites, portals, and social media platforms.
Real estate companies can use a smart real estate scraper to extract all the information required to send customized emails and social media messages to potential consumers and improve their overall experiences. Delivering amazing experiences and customer-centric services are the best that you can do for your customers.
Customer-centric businesses are 60% more profitable than those that are not.
While most house purchasers want low-risk residences that will rise in value, investors and real estate professionals feel that high-risk properties will yield higher returns. Being part of a real estate business, you should know the market behavior, since customers are more satisfied dealing with a company that understands the market better and gives them accurate information.
Data obviously supports you in making precise forecasts about the real estate market.
Real estate predictions based on big data assist buyers and sellers in avoiding financial hazards and risks.
Previously, real estate trends were based on guessed estimates, but today’s projections are based on cutting-edge data-based algorithms that can help a person foresee market swings in real-time.
Web scraping real estate data using a smart real estate scraper helps estimate the price of a property, its potential to give better returns on the investment, upcoming development in the area it is present and upcoming amenities. Real estate data scraping also allows you to find the factors that are likely to influence the price of the property.
5. Risk Aversion
Data helps in evaluating the general state of a property, including its ages, reconstruction details, and owner information. Along with this, one can get the idea whether the property is in the zone that is at a higher risk of flood, tsunami, fire, or earthquake.
Real estate professionals can collect data using a real estate scraper and use it to properly evaluate the condition of the property and the area it is located in, as well as obtain credible information on previous restorations and redesigns.
Web scraping real estate data minimizes risk concerns for investors and buyers by reducing the unknowns regarding the property and its possibilities. Integrating a real estate API with your data scraping system you can get accurate data that helps in classifying properties based on multiple factors including risks, amenities, real value, location, accessibility, etc.
6. Targeting Prospective Buyers
Real estate brokers are no longer forced to make blind decisions, since they can now monitor and forecast client behavior with the help of data.
Data helps in identifying the requirements of potential purchasers, making it simpler for the brokers and agents to connect with their target audience. Using data analytics, real estate companies can provide properties personalized to the purchasers’ interests, preferences, and expectations.
Real estate data scraping allows you to segment your audience based on their behaviors and requirements and serve them with targeted ad campaigns and messages. Marketers have a far better understanding of what and when to deliver marketing messages when they have well-examined data to support their marketing initiatives.
Do not be concerned if you have just limited access to personal data about your users.
The majority of contemporary social media sites do a terrific job of gathering that data for you; all you have to do is figure out how to take advantage of it.
The solution for gathering data from social media platforms to run targeted ads is a real estate API. With collected data, you can strike an emotional chord with the audience and encourage positive engagement.
7. Accurate Property Valuation
The price is currently the largest deal-breaker in the real estate sector. Whether or not a property will be a good investment depends on its present price or anticipated future value.
The value of a property may be determined using a variety of techniques and one of them is data analysis. By analyzing property size, type, location, amenities, development prospects, accessibility, crime rate, etc. one can determine the property value quite precisely.
With this, buyers can decide if their investment is worthwhile, while sellers can decide how much to charge for their property. Real estate data scraping allows getting the details that help in determining the current value of a property and anticipating its future value. Real estate API allows the users to extract quality data for property value determination.
Top 5 Real Estate Data Providers In The Market
The global market for data extraction, which was valued at $2.14 billion in 2019, is anticipated to increase at a CAGR of 11.8% from 2020 to 2027, reaching $4.90 billion.
Data extraction software assists businesses and employees in increasing organizational efficiency and giving the company’s vital data greater security features. For web scraping real estate data extraction, a real estate scraper offers a variety of benefits, including organizing a vast quantity of data, enhancing data accuracy, and facilitating quick access to a large volume of data.
Here are the top companies you can choose for real estate data scraping tools and real estate API and services –
APISCRAPY tops our list of the best companies that offer real estate data scraping tools. APISCRAPY has developed AI-powered data scrapers that effectively work and collect quality real estate data from relevant web sources.
Have you been scratching your head while web scraping real estate data? By integrating APISCRAPY’s ground-breaking real estate API with your business, you can collect pretty much everything from websites like Zillow in a structured, ready-to-analyze format.
For everyone involved in the housing ecosystem, CoreLogic serves as the only reliable source of information and the industry benchmark for real estate intelligence.
With an in-depth understanding of the strong economic, social, and environmental forces that support healthy housing markets and vibrant communities, CoreLogic is the go-to source to achieve property intelligence.
It gives users access to the biggest ownership and property database. After that, CoreLogic links, curates, and enhances the information in a special way with perceptive knowledge from its vast network of field researchers, analysts, and data scientists. It provides players in the global housing sector with accurate, thorough information.
Professionals frequently wish to assess many aspects of a property. For them, the right destination for web scraping real estate data is DataTree.
Getting access to property data is now quicker and simpler than ever; thanks to DataTree.com. Its self-service web platform offers rapid access to the largest collection of multi-source property and homeowner information. All credit goes to its cutting-edge technology and search options.
They also provide automatic property reports that offer quick responses to your real estate data queries.
Reonomy offers a real estate API that you can integrate into your internal systems for real-time updates. It provides data feeds that are specifically tailored to address your most important commercial real estate questions.
They are utilizing technology to provide you with access to the most comprehensive source of clear, searchable information about businesses, people, and properties in the market.
Web scraping real estate data has never been so easy, right?
With Estated real estate API, get instant access to over 150 million properties. They have the most thorough and comprehensive property data available. Customers utilize its data to verify the accuracy of information from our rivals.
That is how reliable Estated’s property information is.
With its simple real estate data scraping API, users can quickly access real estate data and integrate it into their company’s research and analysis system. After utilizing its simple platform for a while, you’ll feel like a data expert.
Become An Early Adopter Of AI-Powered Real Estate Data Scraper
Businesses that have adopted advanced real estate scraper have changed their data scraping operations for the better. You must also join the race!
By deploying an AI-powered real estate data scraping programme to the task of data collection, you will not only boost productivity, but also eliminate errors that are most commonly associated with laborious manual data scraping.
Be an early adopter of AI-supported data scraper for web scraping real estate data with maximum efficiency. Any operation in a business armed with AI technology becomes more efficient, adaptive, and accurate.
AIMLEAP Automation Practice
APISCRAPY is a scalable data scraping (web & app) and automation platform that converts any data into ready-to-use data API. The platform is capable to extract data from websites, process data, automate workflows and integrate ready to consume data into database or deliver data in any desired format. APISCRAPY practice provides capabilities that help create highly personalized digital experiences, products and services. Our RPA solutions help customers with insights from data for decision-making, improve operations efficiencies and reduce costs. To learn more, visit us www.apiscrapy.com
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