Jack Thursday - DataTree vs RealQuest vs TitlePRO (LA 1512)

Transcript:

Steven Butala:

Steve and Jill here.

Jill K DeWit:

Hello.

Steven Butala:

Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill K DeWit:

And I'm Jill DeWit, broadcasting from pretty Paradise Valley, Arizona.

Steven Butala:

Today's Jack Thursday. I'm going to talk about DataTree versus RealQuest versus TitlePro. These are the three largest mainstream data aggregators. I'll really deconstruct them and tell you which ones are which and why.

Jill K DeWit:

This sounds so exciting.

Steven Butala:

What color is your nail polish today that you're going to put on your nails while I talk about this?

Jill K DeWit:

I don't have any. I'm going to run and get some here. I will have plenty of time to choose and paint.

Jill K DeWit:

Just kidding.

Steven Butala:

Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free. If you're already a member, join us on Discord.

Jill K DeWit:

Sean wrote, "Which is more accurate for getting situs zip, geocode.io or DataTree?

Jill K DeWit:

There's other places to do those, too, by the way.

Jill K DeWit:

I ran the long [lap 00:01:09] from DataTree through geocode.io to get situs zip codes. Then I noticed DataTree already had the situs zip codes listed to download. I can put the two columns side-by-side and notice some discrepancies. Anyone have any experience on which one is more accurate?

Jill K DeWit:

Where to go?

Steven Butala:

Sean, this is the right way to do this, but as I'm going to explain here in a few minutes about sources of data, generally, the more urban the data, the more populated all the columns are because the assessor has a vested interest in getting to know properties more in urban areas versus rural areas. Why? So that they can charge accurate and, in a lot of cases, higher-

Jill K DeWit:

More.

Steven Butala:

... property taxes.

Steven Butala:

This is a universal rule about data. This is a good question for today. The more urban it is, the more populated or accurate it probably is. When you look at data for LA County, specifically City of Los Angeles, I fall out of my chair at how amazing the data quality is, regardless of the source. If you go to rural, I'm not picking on any state in general, Indiana or anywhere, some rural counties in Texas, it's incredibly incomplete to the point where you fall out of the other side of your chair. You can't use it. I'll talk all about that.

Steven Butala:

The reason that you're getting discrepancies in geo zip codes is because you took a county or a city or zip code, whatever, that was really populated with zip codes, situs zip codes in DataTree. Then when you try to convert it over, there are discrepancies because geocoding is not perfect. It's just like everything. Does the discrepancies matter? No, it's all a numbers game. If 90% of it's probably accurate or higher, you're going to buy some real estate. That's the whole point here.

Jill K DeWit:

Thank you.

Steven Butala:

And I'll just say, the people that join Land Academy are incredibly intelligent. We don't have any control over who joins or who doesn't.

Jill K DeWit:

Well, we do.

Steven Butala:

We have control over who stays in the group.

Jill K DeWit:

There we go. Like, hold on a moment.

Steven Butala:

This is a crazy intelligent question, but I think that there are certain types of people that join Land Academy and just make it an academic exercise for them. Instead of, let's say, quilting, data analysis becomes their hobby.

Jill K DeWit:

It's good.

Steven Butala:

This is how people get divorced, by the way.

Jill K DeWit:

I thought you were going to say how people get rich.

Steven Butala:

No, just [follow 00:03:44] me on this.

Steven Butala:

Instead of keeping your eye on the prize, which is buying a piece of land and reselling it for more infamy-

Jill K DeWit: