Here are a few examples of how our public record data mining is leveraged
Comprehensive nationwide real estate public record data helps tackle various business needs in many industries beyond real estate. We mine terrabytes of real estate data to find the those needles or patterns in the haystack. This post covers a few real estate and non-real estate use cases we are actively supporting.
As previously announced, our public record data provides a comprehensive set of property attributes such as owner occupancy, last sale information, and more detailed tax assessment information along with full property details. It also provides property identification, seller/buyer information, tax exemption details, building information, and legal description of the property.
The valuation models and comparable similarity scoring are now based on authoritative property details and current market conditions from listing data.
Marketers in any industry
PropMix real estate data is very well suited for finding target customer base for many businesses. Here are a few examples:
- A skylight company recently needed information on all homes that have a skylight so that they could offer upgrades or servicing options
- A flooring company is able to provide an automated estimate of carpeting or hardwood flooring costs using our building area information
- An insurance company is able to target customers who have lived for more than 10 years in a home to consider modifying their insurance coverages
Real Estate Investors
Investors are interested in finding undervalued homes in good rental markets to buy and convert them to income generating rental properties.
- We identify tenant occupied properties in each neighborhood in the country and find areas where rental demand is increasing
- We then find owner occupied homes in these areas that can potentially be converted to investment properties.
Our data can also power a full investment pro forma including the total cost of ownership and return on your investment.
Appraisers and lenders need information to accurately assess the risk of a collateral before underwriting a loan – purchase, refinance, and/or home equity.
- Appraisers improve the accuracy of their valuations using extensive assessor recorder property data and comparable sales from public records – including new homes sales and/or owner sales not in the Multiple Listing Services.
- Underwriters or lender reviewers can run their appraisal review and AVMs using:
- Transaction history on a property
- Comprehensive report of the property details
As we continue to solve additional business problems we will provide updates on this blog on new and creative ways in which our customers are mining our data.