Industry News

Mining for real estate data

Aggregation companies help agents give consumers valuable info

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

SAN FRANCISCO–The proof is in the data–and so is the money. Four executives in the home and neighborhood data collecting business today discussed various ways real estate businesses can use data to improve back-end operations and sharpen their customer offerings. The discussion was part of a technology panel, "Data aggregation and mining: New tools and new methods," during Inman News' Real Estate Connect 2004. Data alone is meaningless to most people. But when it's used to create interesting products for consumers and agents, it can add value to a business, said David Meyer, president of eNeighborhoods. Eneighborhoods specializes in providing realty agents with neighborhood information, school information, crime rates, home sale data and demographics, to name a few. Agents display the information along with home listings on their Web sites as a way to add value to the site for home shoppers. "There's a huge opportunity to use the data in new and interesting ways,"...