What is Property Data?
Before defining what property data is, let’s see what a property is. A property, by definition, is an area that covers a lot of ground. It can be anything, from a simple house to a supermarket. When we talk about property data, we refer to buildings. There are many different types of buildings classified as residential, commercial, and industrial buildings.
Property data is a set of information about the physical space or a location in the real world. Some information pieces about a property include its location and place in time. These are also known as their address. Everything else about a property can be considered metadata.
Data about an individual property can be combined into datasets that contain multiple properties that can be navigated by geospatial navigation systems like postcodes, coordinates, and area boundaries.
Residential property data includes the address, property type, characteristics, sale price, tenure, owner, registration, and so on.
Commercial property data includes rateable value, usage category, internals, occupancy, company name, company number, link to other properties, hygiene, and commercial ownership.
Where Can You Find Property Data?
You can compile a manual list of property data by consulting online databases or going to the county office to find out about the data of a particular property. Both those tasks are incredibly tedious, and if you are a businessperson, you know that you’re going to waste time and resources on such redundant tasks.
Your best bet to find property data in bulk is by contacting a data provider who deals in such lists. BatchData, for example, offers you one of the most comprehensive and exhaustive property data lists that contains more than 155 million property parcels. BatchData is the leading provider of address, parcel, building, and other property-related information. BatchData combines deep domain expertise with machine learning to provide the industry’s best and most complete profiles.
With more than 3100 counties, 900+ data points, and a coverage of 99% of the U.S population, BatchData’s property data is the most thorough and offers you a significant advantage depending upon your type of business.
Why is it Beneficial for Your Business?
Let’s consider it from the perspective of different businesses.
Real Estate: As a real estate investor, you deal in property data all the time. You require data to make your next purchase, from mailing listing services to specific information about particular properties. Similarly, suppose you are a real estate agent. In that case, you need concise data for comparable sale figures in the neighborhood so you can make an accurate guess when selling a property for a specific price. Thanks to property data, a rich and complete data profile gives you an unparalleled decision-making advantage.
Mortgage: Whether you want interest rate profiles or point-of-sale reports, you need property data to make better decisions for your mortgage business. With accurate data at the tip of your fingers, you can not only provide your clients with the best rates and service, but you can also deal with your business in a more organized and hassle-free way.
Marketing: Marketing lists require property data for business campaigns in a specific location. For example, suppose you are running a marketing campaign for a new product in San Francisco, you will need to make sure that your campaign reaches all the correct addresses within a neighborhood. Property data will let you decide which localities to aim and which neighborhoods to choose when targeting your leads.
Insurance: You can gather property data to ensure that your returns are optimized, your risks are at their lowest, and increase underwriting effectiveness. Additional property data will let you make important decisions while dealing with a client.
Banking: Particularly in investment banking, you can analyze portfolios, create forecasting, and disrupt markets by analyzing property data.
Software Companies: Suppose you are a software company using artificial intelligence to deal with your data by having a property data database. In that case, you can leverage data-centric intelligence into making better products, especially for the real estate sector, which is in dire need of accurate and robust data to provide their customers.
Property data adds a flair to your marketing strategy by implementing personal data and integrating it with business intelligence solutions to ensure that the campaign is effective and tailor-made for prospective leads. Moreover, specific information can help you make your marketing strategy more effective.