Data Science is revolutionizing the Real Estate Market
While increasingly more companies use web scraping strategies, their business decision-making strategies are reinforced by vast data-backed decisions. What is the reason behind it? A data-driven business strategy can multiply the profits, boost the customer satisfaction score and mitigate the risks in the real estate market, facing a highly competitive crowded market where every player is trying to win.
Web data extraction allows real estate companies to gather data on a daily basis and analyze the consumer behavior obtaining key information from competitors to add new customers and better understand the common patterns focusing in the industry in certain areas and populations. At the same time, the analyzed data provides supported predictions on how the real estate industry will perform, allowing the players involved to adjust their tactics and strategies to improve ROI.
Want to know the benefits and opportunities?
By monitoring the top marketplace websites -that contain millions of listings for renting, buying, and selling properties- you will be able to:
- Fully research the market: by extracting data, identify market cycles and fluctuation period and learn about the main economic trends that dominate the sector, for example, to predict profitable investments.
- Optimize prices: by exploiting competitor data and generating real-time price intelligence so you can react quickly to price changes to stay competitive.
- Increase and engage customers: by better understanding their consumption habits and helping sellers learn new ways to interact with existing customers and generate new ones.
- Analyze homebuyer sentiment: collecting homebuyer reviews and ratings from websites allow businesses to deeply understand customers’ preferences and learn from their opinions.
- Automate targeted advertising and recommender systems: defining ads that match consumer searches, preferences, and expectations.
- Automatically track the competition: allows you to optimize the search for clients, capture clients and real estate agents published by other companies, and take advantage of new sales opportunities. In short, monitoring the competition helps to win the customer, the business, or dominate a market.
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