Learn more about property data collection and why you should take it as a real estate side hustle.
Wondering what is property data collection? We will delve into the complexities of PDC, its importance, essential criteria, and its relevance in the real estate industry.
What is Property Data Collection (PDC)?
Property data collection is the process of observing and documenting property characteristics in a factual manner, whether in person or online. Property data gathering is a relatively recent job in the real estate industry that became popular in 2019 and 2020. It depends on precise and uniform data gathering about properties to establish the basis for evaluations.
What Is The Role Of A Property Data Collector?
A property data collector performs these duties:
• Examine and confirm images and data of residential/agricultural properties to ensure property records accurately reflect up-to-date property features.
• List or revise information on property records as necessary.
• Travel to various property sites and walk around all buildings physically to determine what is needed.
• Evaluate and examine the outside of residential and agricultural structures.
• Precisely document property details, including size, measurements, angles, drawings, and sizes on the correct forms on mobile gadgets.
• Capture detailed digital photographs of properties, capturing any specified parcel enhancements if necessary.
• Update information regarding the structural state of buildings.
• Keep personal production records in line with productivity goals.
• Fill out all logs, control forms, and necessary documentation as needed.
• Effectively communicate with the public to relay the reason for your visit to their property, ask about the interior, address inquiries, etc.
• Handle field questions and complaints politely and escalate to the supervisor when needed.
• Record data and back up your findings with images of the property.
• Carry out a thorough examination of a property as requested, recording details such as:
The building materials utilized, include the external cladding, flooring type, and roofing materials.
Type of base foundation.
Details of the floor layout including the amount of bedrooms and bathrooms, as well as measurements.
Extra features of the property, like separate buildings.
Utility connections like whether the property uses city water and sewage or has a well and septic system.
Physical safety concerns or concerns with the structural integrity of the property.
• Examine and confirm images and data of residential/agricultural properties to ensure property records accurately reflect up-to-date property features.
• List or revise information on property records as necessary.
• Travel to various property sites and walk around all buildings physically to determine what is needed.
• Evaluate and examine the outside of residential and agricultural structures.
• Precisely document property details, including size, measurements, angles, drawings, and sizes on the correct forms on mobile gadgets.
• Capture detailed digital photographs of properties, capturing any specified parcel enhancements if necessary.
• Update information regarding the structural state of buildings.
• Keep personal production records in line with productivity goals.
• Fill out all logs, control forms, and necessary documentation as needed.
• Effectively communicate with the public to relay the reason for your visit to their property, ask about the interior, address inquiries, etc.
• Handle field questions and complaints politely and escalate to the supervisor when needed.
• Record data and back up your findings with images of the property.
• Carry out a thorough examination of a property as requested, recording details such as:
The building materials utilized, include the external cladding, flooring type, and roofing materials.
Type of base foundation.
Details of the floor layout including the amount of bedrooms and bathrooms, as well as measurements.
Extra features of the property, like separate buildings.
Utility connections like whether the property uses city water and sewage or has a well and septic system.
Physical safety concerns or concerns with the structural integrity of the property.
A Property Data Collector Is Different From An Appraiser
It is crucial to recognize that property data collectors and appraisals differ significantly. Property data collectors simply document facts and are not allowed to add any personal opinions or assessments. Only licensed or certified appraisers with experience, training, and knowledge can conduct appraisals, and they depend greatly on these qualifications, relying on examination, investigation, and expertise to determine precise and authentic market prices.
Why Choose Property Data Collection As Your Real Estate Side Gig?
Property data collection could be the ideal side job in real estate that you've been seeking. Overall, the process is enhanced by standardized collection and reports, leading to increased efficiency and transparency. Let's examine how property data collection can positively impact your finances and professional development.
1. Earnings
The primary advantage of property data collection is the potential to increase your earnings. You could receive an hourly wage or flat fee averaging $60 to $100 per property, depending on the company, location, and project.
2. Ability To Adapt Or Change Easily
Since property data collectors are independent contractors, you have the flexibility to choose property projects based on your availability, instead of committing to a part-time job or maintaining a constant business that demands regular work and focus.
3. Enhanced Abilities
Acquiring information through property data collection can transfer to your work in the real estate industry. You will not only learn to observe property-related elements more carefully and successfully scan floor plans, but you will also develop skills in inspecting a diverse range of properties.
4. Enhanced Efficiency
Updating the real estate data collection process with technology lessens the workload for appraisers, streamlining the system for all involved parties.
5. Consistency And Objectivity
Property data collection promotes uniformity that guarantees data is impartial and reduces prejudice. This improves the precision of property details and also assists in impartial decision-making.
6. Transparency
Everyone benefits from the transparency provided by a documented process.
Who Is Eligible To Work As A Property Data Collector?
Although there are few obstacles to gathering property data, this task is typically carried out by:
Trainee Appraisers
Receive valuable practical experience in the property data collection sector while accumulating hours towards your license. Trainee appraisers can enhance their skills in the field and property inspections.
Third Parties
Make additional cash, break into the mortgage field, and provide your imaging skills to real estate agents as a bonus.
Real Estate Agents
Real estate agents looking for an extra source of revenue can use this as a method to make extra cash that complements their current jobs, while also offering comprehensive property captures as an additional service for real estate sales.
Photographers
Photographers who are interested in broadening their set of skills can use property data collection as a method to make extra cash that will complement their present jobs.
Requirements For Collecting Property Data
Property Level Data
Examining the entire property is a crucial aspect of collecting property data in order to gain insight into its market positioning. The property data collector will record:
• Type of property (single-family, condominium, multi-family, etc.)
• Location
• If the property is currently being lived in or not
• Type of property (single-family, condominium, multi-family, etc.)
• Location
• If the property is currently being lived in or not
Lot Data
An assessment of the lot and property site is provided as it can also affect the overall value, in addition to the yard and property access. Specifics consist of:
• Size of the lot
• Information regarding the ownership and maintenance of roads
• What is the neighborhood like and what are some details about the surrounding area?
• What can be observed from the front, sides, and back of the house?
• Enhancements done on the outside of the property (such as fences, sheds, pools, etc.)
• Information regarding water, sewer, and gas.
• Size of the lot
• Information regarding the ownership and maintenance of roads
• What is the neighborhood like and what are some details about the surrounding area?
• What can be observed from the front, sides, and back of the house?
• Enhancements done on the outside of the property (such as fences, sheds, pools, etc.)
• Information regarding water, sewer, and gas.
Building Data
Important building characteristics and information are included in the process of collecting data for both individual houses and communal properties. Specifics consist of:
• Number of levels
• Type of construction and current condition
• Lifts
• Year constructed.
• Type and condition of the foundation.
• Information about heating and cooling.
• Updates and shortcomings on the outside.
• Updates to mechanical systems such as plumbing and electrical components.
• Parking spots and space for garages.
• Number of levels
• Type of construction and current condition
• Lifts
• Year constructed.
• Type and condition of the foundation.
• Information about heating and cooling.
• Updates and shortcomings on the outside.
• Updates to mechanical systems such as plumbing and electrical components.
• Parking spots and space for garages.
Level Data
Property data collectors will also inspect the different above and below-ground levels to record any important problems or distinct characteristics. They will observe:
• Features located below ground level, such as basements and crawl spaces. lofts
• Accessing these regions
• Whether the levels are completed or not completed.
• Features located below ground level, such as basements and crawl spaces. lofts
• Accessing these regions
• Whether the levels are completed or not completed.
Room Data
After giving a general description of the property, the property data collectors will examine each room individually to record any notable characteristics, specifics, and recent upgrades.
• Enumerate each room located on each floor.
• Characteristics and fittings (such as toilet, sink, etc.)
• Changes and imperfections within the interior.
• Enumerate each room located on each floor.
• Characteristics and fittings (such as toilet, sink, etc.)
• Changes and imperfections within the interior.
Photographs
Visual documentation and photographs play a crucial role in the process of collecting data, enabling individuals to view the area without needing to physically visit.
• Pictures of each room
• Hearth
• Elements that provide warmth and coolness
• Carport
• Views from the front, back, and sides.
• Other buildings on the property
• Views of the streets.
• Pictures of each room
• Hearth
• Elements that provide warmth and coolness
• Carport
• Views from the front, back, and sides.
• Other buildings on the property
• Views of the streets.
What Are The Qualifications Of A Property Data Collector?
• Intense drive to expand knowledge and develop in the realm of real estate appraisal.
• Completion of high school or relevant work experience required.
• One year of experience collecting residential data and measuring properties is ideal.
• Strong ability to solve problems.
• Strong organizational abilities, with a focus on detail, are essential for accurately documenting and recording detailed property information.
• Capability to work autonomously or in conjunction with colleagues.
• Spatial skill involves the capacity to read maps and identify a specific location on a map.
• Capability to mentally represent floor plan outlines derived from three-dimensional structures.
• Strong math abilities required for determining square footage, ratios, and comparable calculations.
• Capability to go to properties within the designated project area for most of the workday, possess reliable transportation and have full insurance for the vehicle used for work.
• Have a fundamental understanding of computers.
• Completion of high school or relevant work experience required.
• One year of experience collecting residential data and measuring properties is ideal.
• Strong ability to solve problems.
• Strong organizational abilities, with a focus on detail, are essential for accurately documenting and recording detailed property information.
• Capability to work autonomously or in conjunction with colleagues.
• Spatial skill involves the capacity to read maps and identify a specific location on a map.
• Capability to mentally represent floor plan outlines derived from three-dimensional structures.
• Strong math abilities required for determining square footage, ratios, and comparable calculations.
• Capability to go to properties within the designated project area for most of the workday, possess reliable transportation and have full insurance for the vehicle used for work.
• Have a fundamental understanding of computers.
Can Property Data Collection Be A Full-Time Job?
Property data collection can be taken as a full-time job. Usually, property data collectors work when required, making it a great way to increase earnings without overloading your time commitments.
Getting Started With Property Data Collection
Every property data collector should undergo training to fulfill basic requirements. You can take a course that will equip you with all the necessary information for success. The course will address the responsibilities of a property data collector and the specific data that must be collected during a site visit.
You will also be equipped with essential soft skills such as tips for staying safe in the field and effective communication with homeowners. You will also get books you can take with you that outline the differences between property data collection and appraisal.
You will also be equipped with essential soft skills such as tips for staying safe in the field and effective communication with homeowners. You will also get books you can take with you that outline the differences between property data collection and appraisal.
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