Nowadays, more and more companies understand and value clean data. Real estate is all about customers and reliable clean data is pivotal for its performance. Smart real estate agents spend time and money on data cleansing knowing that it can help sell properties faster and allow to maintain a steady growth, ensure customer loyalty.
It is almost impossible to avoid dirty data penetrating into real estate dataset. The most common case is human input errors when real estate agents enter inaccurate information. Sometimes, there are transactional uncertainties as a result of connections between seller and buyer. Or data collected on potential first home buyers has missing fields and bogus data. Another example of bad data in real estates CRMs is the inability to timely update customer records when home sellers/buyers switch from one real estate agent to another, move to another state, etc. Customer data collected from different sources is also prone to lots of discrepancies and it is never consistent.
Data cleansing can help significantly improve real estate data accuracy. It is critical to perform data cleanup on real estate customer data and transactional data on a regular basis. Having proper data allows you to analyze the trends and adjust strategies as well as understand current and potential clients needs.
Customer data is changing really fast and it is critical to perform data cleansing consistently. Clean real estate data has lots of advantages that should not be ignored. Cleansed data allows to acquire new customers and maintain customer loyalty. Real estate analysis based on clean data help find out opportunities and derive winning strategies. Only accurate, cleansed data leads to business profitability and proper recognition.
Common issues that are found in a real estate broker’s database includes:
- Duplicate records of the same person or households. The Solution: De-duplicate your records
- Missing Information – Perhaps the form did not provide an email or maybe a key field such as mortgage approval amount is missing.
- Out of Date data- Most of people do not buy real estate on a yearly basis. Therefore if you are have not been in touch with a client in years, it is time to confirm that they are still at the same address and have the same email address and phone number.
- Lack of data standardization – If your fields are not standardized but are in free form you have a hard time sending a Birthday Card is very difficult if you do not have the birthday written in the same format.
All those data issues may not be avoided in your busy real estate environment but they can be fixed. If you are looking to real estate data cleansing, look no further, StartegicDB is here to help!