To succeed in real estate, you need to know when to invest, buy, and sell. Property assessments can guide those decisions, but traditional property reports often miss important details. That’s why you need property data analytics.
In this post, we’ll explain property data analytics — what it is, how it supports real estate management, and tools you can use to get the most ROI from property data.
What Is Property Data Analytics?
Property data analytics is the collection and examination of property-specific information to assess conditions, estimate value, and anticipate maintenance needs. Paying an inspector to gather property data can be costly, especially for real estate investors and property managers with a large portfolio. A better (and faster) way to see property data is to order property reports.
Real estate data analytics reports include roof pitch and angles, shading analysis, vegetation encroachment, and high-resolution aerial imagery. Aerial images are superior to satellite imagery for capturing details like hail damage and evidence of water pooling.
The Benefits of Property Data Analytics
Here’s how property data analytics impacts real estate and property management business:
Sales Intelligence
As every real estate professional knows, property inspections are subjective, and two inspectors might offer different interpretations of a property’s condition. Property reports include objective data only, and that information could help you when negotiating a sale.
Proactive Maintenance
Property management data analytics are especially useful for large commercial buildings and multi-family residential structures. With multi-family and commercial property reports, you get crystal-clear aerial images of roofs, surface parking lots, and vegetation, all of which can help you anticipate maintenance costs (and keep tenants happy).
Materials Calculations
Replacing a roof is one of the biggest property-related costs. Costs can be even higher when you miscalculate materials.
Detailed roof analytics that incorporate every angle greatly improve materials estimation. You can order exactly what you need, eliminate waste, and avoid replenishing supplies with “rush” deliveries.
Marketing Opportunities
Real estate buyers today — both commercial and residential — start their property searches online. Quality images can be the key to attracting qualified buyers.
Incorporating aerial imagery in your real estate listings helps illustrate the potential of a property. For example, residential buyers want to see the size of the yard and the maturity of trees, and they may want to assess whether there’s room for a pool or a playground.
Before-and-After Comparisons
Whether you just paid for a new roof or you’re looking to assess hail damage, a side-by-side comparison can bring defects and improvements into focus. You can use property report imagery as your baseline, and capture new views with a fully autonomous drone.
Drones capture 360° aerial views with inch-level accuracy, and they can detect damage that might not be visible to the human eye. Drones distill data into easy-to-understand reports, with a faster turnaround time than human inspectors.
Earning Trust
Lenders, partners, and buyers all want reliable property data they can trust. A lender reviewing a loan application needs high-resolution condition reports to verify asset quality. A joint venture partner evaluating an investment’s long-term potential may require a full site analysis, including risks and projected maintenance costs. Buyers considering a property may want to see the roof in detail.
Property data analytics reports help you build trust, strengthen deal negotiations, and boost revenue.
Do More with Eagleview
Eagleview combines property data and aerial imagery to help you assess risk, anticipate maintenance, and make solid investments. Discover how our detailed reports and autonomous drones can help you grow your business. Contact us today!