Data is changing just about everything. It’s no secret that access to bigger data sets has a radical effect on any industry. Knowledge is power after all, but when it comes to big data and its effects on the real estate industry, it can be difficult to pinpoint what the practical effects actually are. Yes, folks are always talking about increased consumer insights and questioning the role of real estate brokers in the future, but again, what does that actually look like?
It looks like Property Genius.
When it comes to foreclosure real estate and off-market investments, access to a wider assortment of data is having particularly interesting effects for assessors, brokers, firms, agents, and just about everyone in between. In many ways, increased access and visibility into the market is leveling the playing field between bigger and smaller players. While the change is widespread, it may not be as earth-shattering as many claim it is.
The Effects of Big Data on Real Estate Marketing
In the realm of residential/consumer real estate, big data is enabling larger companies to have increased business intelligence such that they’re able to pinpoint the exact customer they’re after. If you’ve searched for residential property online, you know how easy it is to find something you like and how easy it is for those brokers to follow up with you. Ultimately, the advantage that big data provides to agents and brokers is well-worn territory, but what if we told you the same advantages are now, finally, available for those investing in off-market real estate?
We’ll show you what we mean below:
Increased Access to Off-Market Real Estate Data
Increased access to assessor data and property information is creating a field of opportunity for those interested in foreclosures and other off-market real estate deals. At Property Genius, we’re happy to say we’re leading the pack. With our platform, you'llf find out everything you need to know about a property without physically visiting the site, build a mountain of qualified leads, and then start marketing directly to those leads. Hyper-targeted real estate marketing doesn’t just belong to traditional residential customers, the power of big data is now aiding off-market investors in a very similar fashion.
More Transparency and Efficiency, Better Business Intelligence
Access to reliable, relevant data and information ultimately results in better decision-making. With access to qualified assessor data, like Property Genius provides, investors have access to sale history, current status, and a variety of other property information. Not only is all the information there, it’s all hashed and organized, so you can cross-reference different property features that align with your investment goals and find the exact property that works. If you’re a smaller firm with limited resources, increased business intelligence allows you to choose your investments much more wisely, which in turn makes you much more competitive in the marketplace. And, it might go without saying, but having more convenient access to qualified data, allows you to build lists of qualified leads more quickly. This level of increased efficiency in finding off-market properties to reach out to is more than just a footnote.
How is Property Genius transforming real estate?
So, what do the practical effects of real estate data look like? They look like Property Genius, a practical, easy to use tool to find, organize, and market to off-market real estate leads. With access to big data, smaller firms and independent brokers are able to become more competitive in residential real estate, why shouldn't the same be true for off-market real estate? There's’ no doubt that big data is democratizing the real estate industry, but, it doesn’t necessarily mean that the tried and true tactics of real estate research, or that certain careers within the industry, are going away. Rather, their just being reinforced and amplified by the access to more qualified information. At Property Genius, we understand that in order to be competitive in the real estate industry, access to qualified real estate data is crucial. Property Genius’ assessor data provides an unprecedented understanding of a property and its potential.
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