Realestate Data

Big Data Meets Real Estate

Industry:
Residential Real Estate


Background:

Mid-market (below $1M home values) Real Estate brokerage that services both high-end apartment leases (as a business development strategy for identifying future first-time home buyers) and traditional buy/sell brokerage.


Business Challenge:

  1. Establishing MLS listing relationships (which generate automatic lease commission leads) with apartment buildings to drive apartment leases; and
  2. Identifying apartment tenants who have upcoming lease expirations and are prospects to be home buyers.


LTEK's Solution:

Build a database of apartment tenants and appended demographic and lifestyle data that will be unique to the industry and will directly support the identified key business strategies as follows:

  1. Identify tenants with expiring leases that are prospective first-time home buyers that can be directly marketed to; and
  2. Leverage very valuable market data reports related to the demographics of apartment renters in exchange for MLS listing agreements.


Client Benefits:

The following is the additional business value that this strategy produces:

  1. Revenue generating subscription business for market data reports related to the demographics of apartment renters for the apartment building owners; and
  2. Revenue generating data licensing business of very valuable early-mover data that will be sold to ancillary industries (e.g., insurance companies, banks, etc.).

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