A question most people ask when searching for data that they can turn into actionable insight is whether or not real estate and mortgage data providers have the intelligence needed. A less common question, but one equally important, is whether or not they understand their data provider, and if that provider can meet their needs as their company grows.
You might be asking yourself, why is a good real estate and mortgage data company important? Or how can connecting with a data company and their data solutions as more than just an as-needed resource could benefit your business? Let’s explore…
- Is the provider well known? While popularity isn’t necessarily an indicator of quality, one thing to consider is how well known the source of your intelligence is. Some websites offering data that fit all your needs always have the possibility of being illegitimate. Beyond that, a company being relatively well-known means you’ll have an easier time researching the quality of their offerings. Another benefit of utilizing data from a well-known source is you’ll be able to confidently state how reliable your data is to your clients.
- Do you know how their data is sourced? Some companies do their own research and acquisition of relative intelligence while others out-source. While this doesn’t necessarily mean one method is better than the other, it could certainly affect the speed at which new market intelligence is released. Click here to read more about The Warren Group’s Data Collection Process.
- Consider the range of data on offer. With the saying “quantity doesn’t equal quality” in mind, you’ll want to look into the breadth of real estate and mortgage data available to know if the data provider you’re researching can not only meet your current needs but potential future needs and as well. More data also means more opportunities for expansion.
- How is the data packaged? Will you receive a neatly organized and formatted file, does the company offer a Property Data API, or will it be a raw data dump that you’ll need to sort through yourself?
- How are their communication skills? If your interactions are drawn out with representatives that take forever to respond and can’t answer your questions clearly, then you may not be compatible and would probably find it more beneficial to look into different sources. We make it easy to schedule a meeting with a data solutions specialist to answer all your questions.
That all said, let’s look at some more personal points to consider when choosing a data provider.
- Building trust – Building a relationship with a specific real estate and mortgage data company – and even a specific data specialist – will build the foundations for open communication, mutual understanding, and ultimately, trust. The benefit: knowing your data representative understands your needs and interests which allows them to get you the market intelligence you’re actually looking for at a faster pace.
- Familiarity – Hand-in-hand with building trust, becoming familiar with a go-to company for data not only means they know who you are and what your business is about, you know what they can do for you. This makes it easier for the company you choose to work with to assess your needs and offer other options that you may not have considered, but you also know what their capabilities are and what to expect in quality, accuracy, and time efficiency.
- Peace of mind – All of the above cumulates into peace of mind. As a team leader, CEO, department head, or whatever your role may be, you’ll know acquiring actionable intelligence exactly when and how you need it isn’t always smooth sailing. You’ll find working with a company you can trust and are familiar with, will grant a certain peace of mind that is invaluable.
These are just a few tips and tricks to help you find a real estate and mortgage data provider that will help you expand your business. The important thing to keep in mind is how your data can grow your reputation for reliability and allow you to expand your future offerings so you can stay relevant among the competition. At The Warren Group we are always looking for ways to expand our data solutions to our clients so they can grow with us. We are proud of the quality and timeliness of our data.
If you’re interested in discussing how we can meet your business needs, just reach out to a data specialist today to get the ball rolling.