So I have been conversing with someone called Lisa on another thread here, and it seems we are both looking for the same thing.
A list of property that is A/ Advertised and B/ Sold
At present it would seem we both troll through websites looking for new listings and sold listings and making a note, now what if someone, myself for instance did all the trolling and created a database with all my findings and gave access to others for a nominal fee.
Would this be legal? I think yes because it is me that is collecting all the data and creating a central point of reference.
My grey area would be is it legal to take data from other companies for example Real Estate listings.
Any information on this would be gratefully received
Not sure about the legalities of your idea but if your In Australia and I am sure there will be others for different countries, take a look at this website I am sure it is the sort of thing you are talking about doing: http://www.microburbs.com.au
Hope it helps, Thanks James
This sounds like a fantastic idea, and I see no legal issue at all.
If you visit real estate pages and list facts and figures onto your own data base it is not like you are doing anything wrong, it is raw data not complete listings you will be using.
Thanks for the replies!
I am in the process of seeking advice on this, I am pretty sure it is fine as I will only be mining certain information ie location, price, time on market, average area selling price etc
So I will not be copying information as in copy and paste.
Will keep you updated on my progress.
There is a lot to think about here, and I feel like a website like this could be a really solid resource for those of us who are just dipping our feet into the world of investing in property (instead of stocks, etc). I would love to hear about your progress in the future, Mark – keep us updated, please!
Hey Mark, your idea sounds really solid, and I am super interested in how everything has been coming along with it! Have you gotten any updates about how you’re going to take care of things and what sort of work that you’re going to be able to do when all is said and done?
What you are really after is the Days on market (DOM) data. It is available for purchase from CoreLogic and a number of other property data portals. We have plans to introduce DOM data in our reports, however the focus for now is on a number of other features.