The global property market was approximately $3.14 tln in 2022, following Vantage Market Research. Moreover, analysts project that this branch will grow by more than 4.5% annually by at least 2030. The industry’s intensive development caused great rivalry among real estate companies worldwide. As a result, today, housing firms strive to use any opportunity to improve their competitiveness. And software for scraping real estate data is employed especially actively by property enterprises to achieve the specified goal.
Experts claim you may benefit from online info-mining bots only if such apps are made by trustworthy developers (e.g., from Nannostomus). That’s because merely reputable IT companies have specialists experienced enough to deal with projects of any complexity and offer high-quality services at a reasonable cost. Dubious agencies, on the other hand, frequently don’t meet deadlines as well as customize data extraction bots improperly. This way, you may not only waste time but also face legal issues. And now, let’s look at the main features of mining online property info.
Key Benefits of Scraping Real Estate Data
Initially, it’s noteworthy that extracting housing information from websites helps monitor the ongoing situation in the property market more effectively. This is due to web scraping bots, which allow you to get the latest news about both local trends as well as global tendencies in the real estate industry in just a few minutes. Consequently, property firm owners are able to make the right decisions faster than their competitors.
Possibility to Track Preferences of Potential Clients
Data extraction bots are able to collect both open and hidden information on prospects’ needs. So, you can mine info from the following sources:
- Archives of other real estate companies. Here, you may get information about the most popular types of property bought by local clients, the price that citizens are willing to pay to buy or rent housing, etc.
- Construction forums. Such platforms frequently launch different surveys for their visitors. You can get the results of such polls by scraping real estate data.
- Social media. Forbes claims nearly 4.9 bln people use public networks today. Moreover, almost each housing company has its own community on social media. So, such public network accounts open wide opportunities for tracking prospects’ needs. Data extraction apps, in turn, will help you get the necessary information from property firms’ communities.
- Public registers of real estate companies and state reports on the housing industry. This includes information about certain housing firms, different analyses, research, statistical info, etc.
Before collecting data from the sources below, you should carefully learn about local and international privacy laws that are in force in your area. If one isn’t sure about some privacy regulations, it’s better to contact specialists (for example, at nannostomus.com). Otherwise, you may be penalized.
Ability to Discover the Most Favorable Areas for Doing Business
Searching for new construction projects is vital for any housing company. That’s because real estate developers typically offer more advantageous cooperation conditions in the early stages of building residences. And here, web scraping applications usage may help you a lot.
For example, many American property firms faced issues finding fresh construction projects in 2022. That’s because the US building boom peaked in 2021 and started to subside. E.g., The Real Deal reports that housing production in Philadelphia and Nashville in the mentioned year reduced correspondingly by as much as 43% as well as 36% compared to 2020. So, real estate businesses actively working in these regions had to move to more favorable areas.
Most property companies relocated to cities like New York, Houston, and Los Angeles. These megalopolises stand out for their constant development. So, they are sort of win-win options. However, the hugest jump in housing production occurred in comparatively small cities. For instance, Atlanta erected 24% more residential buildings than in 2021. And Tampa, with a population of only a little more than 387,000, showed an incredible 21% growth.
So, property companies didn’t want to choose small cities, just due to the stereotype that working in such regions is usually not so profitable. However, if those firms dove deeper into the situation with housing production in Atlanta and Tampa in 2022, they could have won big. And the best way to quickly get detailed info about local property markets is by scraping real estate data.
Capability to Predict Upcoming Housing Market Trends
Let’s take the example of the COVID-19 pandemic. Those who had predicted all its consequences in the USA started intensively buying cottages in the countryside before the quarantine was imposed. And when the US government introduced the restrictions, such real estate business owners sold those private houses for much higher costs.
Good property market predictors just realized in time that Americans would begin to move from large cities to small villages during the COVID-19 pandemic actively. This is because they could have had more freedom in the countryside. After all, each cottage has its own yard where you can walk in the fresh air without any restrictions.
Then those good forecasters analyzed the housing markets of large cities and discovered regions with the cheapest properties. The latter became cheaper due to people moving to villages. And after the quarantine ended, the mentioned property firm holders sold the apartments they bought for higher prices, making a good profit again.
In the case mentioned, web scraping bots could help you do the following things:
- realize that COVID-19 will become a great problem in the USA soon;
- learn more about the disease and the experience of other countries struggling with it to predict probable quarantine restrictions that will affect the US housing market;
- quickly discover villages with cheap cottages by employing data extraction software;
- detect cities with the cheapest apartments to sell them after the pandemic ends;
- determine the current financial capacities of Americans to assign a favorable price to the property you are going to sell.
As you can see, data extraction software may help you at almost every stage of real estate market trend forecasting.
The Takeaway
Scraping real estate data can help you make your property business much more profitable. Additionally, such info-collection software may reduce corporate expenses. That’s because web scraping bots are able to replace entire analytical departments with plenty of live employees. Experts, however, recommend ordering data mining app development only from reputable IT companies (like nannostomus.com). Otherwise, you may waste funds on a poor-quality product and even have legal issues.