Real estate is among the critical industries disrupted by innovations and data-related technologies. As the internet is growing rapidly, the data it produces grows, creating new opportunities for improving procedures and making well-informed conclusions. If you are a realtor, investor, broker, or property manager, you get the potential to become data- driven and get vital insights from extracted information.
In this blog, you will get many ways property data can assist you and how web scraping can help your organization become fully prepared and disruption-proofed for tomorrow’s world.
What is the Usage of a data extractor?
More and more public data is accessible in the real estate market. Many listing websites and boundless data points are accessible for everybody to observe. And in the case of data, there needs to be one way of learning something new from data to make improved decisions. However, there’s one problem. It’s not easy to get data in structured ways. However, you have to get data initially to gain insights.
Regrettably, a lot of websites don’t offer APIs. But still, openly accessible data is there; you don’t get an easy way of getting data. This is where data extraction comes in. Web data scraping software helps you get publicly accessible real estate information at scale. Using precise tools or partnering with a data extraction partner like Actowiz Solutions enables you to tap into the world of data scraping to enjoy the advantages of quality data.
How can real estate data assist You?
1. Evaluating property values
There are different situations where property value estimation is essential. It would help if you found the most precise value about how much a property is worth. Try and list that online for maximum accurate prices, get finances, or analyze a property before buying.
To be in the property market indicates that you have tough competition. To stay ahead in the competition, you must find different ways to understand more than others. Because most realtors get data from one listing like MLS, you could differentiate yourself by accessing substitute data resources. Web data extraction could help by permitting you to get well-structured property data from a publicly accessible listing site. Web scraping is a new technology; it gives you enormous value as you would have significantly more information and data in your hands.
With web data extraction, it’s easy to collect data points about a given property in case it’s accessible online. Then, you could utilize this data to validate your pricing or position your offers more precisely. As you see a complete picture using web data, you will get a better chance of accurately estimating the property value.
2. Location and Property Value
You might have heard the mantra from realtors and agents about location. Location is among the main factors which determine the property value. Tactlessly, it’s not easy to access organized real estate data from any specific area you need to analyze.
With web data scraping, you can automate this procedure of filtering data so that you only scrape data that is important to you.
3. Prefer numbers over sentiments
Regarding real estate, there are a lot of numeric data points, which can influence pricing, including square footage, lot size, age, last sold pricing, etc. When buying any property, emotions play an essential role in decision-making. You are sometimes ready to pay more as you have more vital emotional reasoning.
It is vital to search the raw number of properties before buying. You can have logical and more intelligent decisions if you initially look at raw data to make data-driven decisions, particularly when you purchase a property for investments. Without web data scraping, you can’t see the complete market prices and other essential data points in a well- structured way.
4. Vacancy rates
When purchasing any property for investments, the vacancy rate is an essential factor, which could be a deal-breaker or among the key reasons you buy a property. With a lower vacancy rate, the rents will increase as demands increase. In contrast, if the vacancy rates go up, the demand is low, and the rents will decrease.
Regrettably, many agents utilize a fixed vacancy rate while analyzing properties and need more accurate data. They do that as they don’t get time to do the research themselves. Using web scraping services, you need lesser time to collect high-dimensional data on the property market and analyze the projected vacancy rate precisely. Containing the latest rent and pricing data, recent real estate completions, and calculation of lease lengths could help you regulate vacancy rates.
5. Market trends
The real estate market continually changes and goes through different cycles. The task is to recognize where it’s going now and where it will go. Knowing the market’s trend is essential to value property and correctly to make investment decisions. All these insights are there in the raw data of the real estate market. This would not be possible for individuals to collect all data manually. And that’s why data extraction could provide immense value by promptly providing you with all the available information.
Procedure and challenges of extracting real estate data
Extracting real estate data may look easy in the beginning. Just follow the standard steps if you want to do that yourself:
- Recognize the targeted website(s)
- Determine which data points you need to scrape
- Make a scraper using a tool
- Store data in the database
- Scrape data to find insights
You must go through many hurdles and challenges if you want to scrape data on a big scale. You will need to scrape much data frequently to get maximum insights. For that, you have to scrape data at scale.
Key challenges:
- Data quality
- JavaScript rendering
- Proxy management
- Scraper maintenance
Solving these challenges takes ample technical experience and resources in data scraping. Except data scraping is essential for your business, you could be comfortable partnering with a vendor who can solve problems and only has quality data, and doesn’t need to cope with all the issues.
Real estate data: Know more
Extracting real estate data has enormous potential for anybody who works in the real estate market. Mainly because, for those, this is still a new opportunity. Similarly, the web data scraping tools you can select from have changed a lot in past years; therefore, either you do that yourself or do a partnership with a web data scraping company like Actowiz Solutions, you can start getting value from the public data and have a competitive advantage.
If you wish to know more about how to scrape real estate data, contact Actowiz Solutions now!
