Benefits Of Property Data Collection For Real Estate Owner

Real estate or property data is information relating to the housing market. It includes information on Property Characteristics, Assessor, Geocodes, Sales History data, Recorder, Foreclosure, Valuations, Mortgage Loan, Ownership, etc. compiled together in one form that can be easily accessed on a database.

Although property data is mostly used by real estate investors and brokers for evaluating real estate and identifying market trends, it can be used by real estate owners as well.

Real estate owners can use property data to promote property characteristics for maximizing their property sales price. Real estate investors or buyers can use the property data to carry out a property search using property characteristics they want. Real estate brokers and appraisers can use property data to determine the market value of the real estate. Insurance companies can even use property data to know what exactly they’re insuring.

Irrespective of what you need property data for, you need an efficient and quick way of collecting robust property data that covers millions of residential and commercial property, including their characteristics.

How Real Estate Owner Collects Property Data?

There are lots of real estate property listing platforms where real estate owners can collect property data. Some of these platforms include Zillow, Rightmove, etc.

These platforms contain a large number of information on real estate and property values, which include:

• Property name

• Property description

• Property URL

• Property/real estate listing

• Plot information,

• Property rates,

• Agent/brokers’ information,

• Property Price

• Property Location, etc.

Real estate owners can use the data extracted from the property listing platform to make timely and insightful decisions. The data will help real estate owners to better gauge their property and serve their customers more efficiently.

As a real estate owner, you would need to extract a large amount of property data for your analysis. Generally, all know the benefits of data but question comes in mind how to collect that data and use that data in efficiently manner. However, collecting such large data manually is a bit difficult and is not recommended. As a smart real estate owner, some automated technology like web scraping services must require. Smartness and technology lead to your real estate business in positive direction. Property data help you to updated with property details.

Some property data that real estate owners collect:

Assessor/Tax Data

Most real estate databases offer property data that include publicly available information gathered by county tax assessor offices. The best assortment of Assessor/Tax data includes several property details in these categories: property characteristics, property identification, legal description, property ownership, property address, property values, and taxes.

Recorder/Deed Data

This is the publicly recorded transaction data, which includes deed transfers and mortgages. The public recorded transaction data is divided into multiple categories, such as property identification, buyers’ information, sellers’ information, address, transfer elements, and loan elements.

Foreclosure Data

This includes the current and historical foreclosure data on all the stages of the foreclosure process. Foreclosure data includes pre-foreclosure notices (NODs and LIS), public foreclosure auctions (NTS and NFS), and Bank Owned (REOs) property.

Geocode Data

Geocode is a set of coordinates, usually the longitude and latitude. It represents the specific physical location or the property. Geocodes make the application of mapping to a property accurate. Two ways geocode is used to locate a property is Parcel-centroid methods and Address-based interpolation.

Property Characteristics Data

Property characteristics data include lot size in square feet or acres, lot number, lot width and depth, square footage, number of bedrooms, number of bathrooms, fire resistance, sewer, porch or balcony, type of heating and cooling system, construction material, electrical, etc.

Ownership Data

Real estate verification is very important to transacting business in the real estate industry whether the real estate is owned by an individual, family, group of people, partners, or an organization.

Verifying the ownership of a property is very vital to selling, buying, financing, and insuring the property. It is also very important for vendors looking to market a property to know both the owners and renters. Ownership data include owners’ status as well as contact information.

Mortgage Loan Data

Mortgage loan data include lots of details like origination date, recording date, interest rate, mortgage amounts, lien position on open loans, borrowers, lenders’ information on all loans, loans, purchases, and total estimated equity on the property.

Other data include the sales history data and the building permit data. 

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