Landpal, a company that brings the latest software technology to real estate, has set out to redefine real estate through data science and technology. Guided by market insights and robust data science methodologies, Landpal specializes in identifying real estate ventures, from single family to commercial projects. Their approach is guided by data-driven decision making, which allows them to adapt and evolve in alignment with market trends over the past four years.
We sat down with Carson Schafer, Director and Founder at Landpal, to learn how his company uses LightBox data to improve their data science capabilities and transform their real estate decision-making process.
The Challenges of Fragmented Data from Multiple Sources
This is where LightBox came in. Prior to investing in LightBox Vision, we were sourcing our data from multiple third-party sources. It was exceedingly difficult and time consuming to sift through each source to pull out actionable data. For example, one source offered strong parcel information but was very weak at providing assessment data. Another source provided comprehensive assessment data but significantly lacked complete geospatial data.
Connecting the Dots
LightBox connected the dots for us. We started on LightBox Vision, the mapping tool, and it was able to seamlessly integrate multiple layers of data together. This enabled us comprehensively analyze datasets, making sense of even the most complex information. The secret to using data to make decisions is not having the most data, but having data points that are connected and actionable. Within LightBox Vision, we can create custom search queries and filters to tell a story and help us efficiently locate market opportunities.
One example of this is the parcel information: The tool doesn’t just provide general parcel information but dives deep into every aspect of the parcel including the height of the building, the shape of the building or parcel and the footprint of the building, providing a very complete picture for us. The tool empowers us to make decisions quickly and helps us streamline the identification of real estate opportunities. It has become the “go-to” tool for my team.
From LightBox Vision to Full Platform Integration
We received so much value out of the LightBox Vision tool, we wanted to expand the service offered with LightBox to enable us to build our own GIS system. Because we have our own proprietary geospatial database, the integration of the two was a significant value add. With data science as our company’s foundation, we analyze data from multiple sources like the Department of Transportation and USGS (United States Geological Survey), so it is quite exciting to be able to incorporate all of it together with LightBox data into one platform.
LightBox Data is Balanced and Comprehensive
LightBox is the most balanced and comprehensive tool I have found. And let me just say, I am a very meticulous person. I picked apart every piece of the LightBox data platform to ensure the data was of the quality I deemed acceptable. I can confidently say that LightBox is the most comprehensive and complete property dataset out there. It is strong in every category, from its GIS layers, parcel layers, assessment data, property ownership data, etc.
Saves Hundreds of Hours of Skilled Labor
Our transition from fragmented data sources and labor-intensive integration processes, which consumed hundreds of hours of skilled labor, to embracing LightBox data has been pivotal. With LightBox, the arduous task of combing through data has been replaced with the simplicity of accessing the information we need with just a click of a mouse. This has streamlined everything we do at Landpal, empowering us to swiftly identify and act upon ideal real estate projects.
Leapfrogging Years Ahead with Actionable Comprehensive Data
The accurate and comprehensive data from LightBox has given us a significant leg up in the marketplace, propelling us at least a year ahead of competitors who collect and aggregate data in-house. By investing in LightBox data, we have gained immediate access to comprehensive, actionable data science insights, enhancing our decision-making capabilities, and securing a competitive edge at every stage of the real estate process.
