Even the best data won’t move the needle for your business if you don’t have a clear idea of how to use it to your advantage. Having current and reliable data is a must and being able to leverage it strategically will drive performance. So if you’re trying to acquire properties, find buyers, or power a website or application, having access to multi-sourced, accurate and in-depth data is critical. Here are three ways businesses can successfully leverage property data.
Identifying and finding leads
Multi-sourced property data allows businesses to target leads with extraordinary precision. While there isn’t a “wants to sell but hasn’t listed yet” filter for data, with high-quality multi-sourced data you can refine your data searches to come as close as possible to getting that information. For example, you could identify properties in pre-foreclosure, properties that are vacant, or properties that have been rentals for long periods of time whose owners might be ready to retire from being landlords.
You can also search demographic information about the owner, such as their age and the number of residents at the address. That information can help you find empty nesters who are ready to downsize.
While a lot of lead generation platforms simply aggregate data from publicly available sources, offering only surface-level information, that won’t give you much of an edge in finding leads. Having access to multiple sources, including offline sources, can help you identify and find leads that fit your strategy.
Creating targeted marketing lists
Reliable data can be the difference between a marketing strategy that soars and one that never gets off of the ground. With up-to-date information, you’re uniquely positioned to leverage property characteristics, demographics, and financial data to create marketing lists that target the types of potential clients you’d like to reach. This level of specificity allows you to create lists with greater precision than ever before. The more targeted you are, the better equipped you’ll be to create messaging that resonates with your audience.
Powering a website or application
If you’re offering products or services through a web application, property data is a powerful resource as long as it’s current and accurate. In-depth property data can enhance the value of your app to customers.
While apps were once mainly the domain of larger companies, changes in technology have enabled smaller businesses to create profitable apps, too. Those smaller companies can populate their apps with in-depth property data to stay competitive. Whether an app is for house hunting, financing, property management, or anything else in the real estate ecosystem, businesses can use high-quality property data to power digital platforms and provide users with better insights.
Conclusion
The advantages of high-quality property data are clear, but you’re probably wondering how to evaluate whether your current data is reliable. This is a common question, and we’ve answered it in our free guide: Uncovering the True Cost of Bad Real Estate Data. Click here to download your copy.
