Hitech BPO, a renowned BPM service provider from India, held a talk on core real estate data aggregation tasks and focus areas for 2022-2024.

AHMEDABAD, GUJARAT, INDIA, April 24, 2023/EINPresswire.com/ -- With heavy surges in demand and the use of detailed real estate information and alternative property data, Hitech BPO held a discussion with its real estate data aggregation teams to clarify core focus areas until 2024. The meeting was held on 30th March 2023 at the company’s headquarters in Ahmedabad, India.

The meeting discussed in detail the need for various types of property data, how it impacts the industry, and how technology-backed data aggregation services keep it updated for ready use. Further, Director of Business Process Management, Snehal Joshi, talked about the growing and crucial role of property data, and the benefits of data aggregation in property listing management.

They listed the 5 core areas in property data aggregation that the teams should focus on.

1. Data aggregation for property intelligence

Constantly changing data attributes like ownership, mortgage, tax, titles, appraisals, lending rates, etc., pose a challenge to listing sites. Inaccurate or outdated property records can lead to poor decisions.

Information on neighborhoods, crime rates, cost of living, facilities, schools, and grocery stores are needed for investment decisions. Having prior information about Starbucks or saying any other brand in the locality can indicate price appreciation.

Collecting and managing voluminous traditional and non-traditional property data from multiple sources is a priority. Keeping them verified and validated, cleansed, and standardized for easy integration with the target database is the duty of real estate data aggregation services.

2. Intelligent data capture tools for efficient and quick data extraction

Real estate documents like titles, deeds, foreclosures, and agreements often come in the form of low-resolution scanned documents. Extracting data from illegible handwritten annotations poses a challenge. Manual processing is prone to errors. Smart data capture tools like Optical Character Recognition (OCR), Robotic Process Automation (RPA), AI and ML-backed crawlers, etc. help capture relevant data, keeping the listing accurate.

3. Maintaining data authenticity through validation and verification

Real estate data aggregated from multiple online and offline sources require authenticity checks. Manually validating huge volumes of property data is difficult. Data authentication for dead and expired listings is a labor and time-intensive task. Automated rule-based data validation ensures accurate and real-time data on property listing sites.

4. Standardize and cleanse data for easy integration into the target database

Data captured from different sources need to be put in a common format for easy integration with the target database. Obsolete, inaccurate, and duplicate data also need to be removed, so that data is completely clean for use. Merge and Purge combine data from multiple sources, eliminating duplicate records.

Manual standardizing is not workable, and even standardizing with the use of Excel has its limitations. Logical definitions, metadata, and labels can accurately standardize your data. Moreover, the increasing use of AI and ML makes deliverables more accurate in cost and time-effective ways.

5. Data enrichment to drive contextual intelligence from property data

Real estate data aggregation does not end with collecting basic property data. The data needs to be enriched with additional data points. To drive contextual intelligence from property data, you can use data from Geocoding, Demographic, Public records, Market data, and environmental data to augment the raw data with additional relevant information.

Enrich the real estate database with multiple data points like customer preferences, flood situations, upcoming malls or industries, basic amenities, crime rates, etc. to improve data quality. Using enriched property data can drive contextual intelligence that can be used to inform strategic decisions related to real estate investment, development, and management.

With 2 million 360-degree property listing records aggregated so far from various sources, Hitech BPO, with a talented workforce of data aggregation experts and MLS domain professionals, has a strong track record of providing enterprise-level MLS aggregation services.

Snehal Joshi
Hitech BPO (A Division of HitechDigital Solutions)
+91 79 4000 3251
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