How much is a database of ownership records worth?
Moving out of brokerage into something different. Associate wants to buy my database of ownership records that consist of about 1,500 properties I have extensively researched county by county, street by street. This is no CoStar data dump. I spent countless hours compiling these records. Any idea of what an appropriate cost is on this? Thanks
[{"id": "ipbmmyn", "text": "Is the data available through public records? If it is your data will be worth a lot less", "replies": [{"id": "ipbo9ml", "text": "It's available through multiple platforms the firm pays a lot for. Records also include my notes of conversations with owners. The play here is he wants to spend more time with his family. Databasing is a very time consuming process if done correctly", "replies": [{"id": "ipbz3gv", "text": "What are you moving into. \nDo you have relationships with these owners? Maybe stay on to bridge the relationship gap and ask for a referral for any deal made. \nAlso look at Upwork and see what a skiptracer would charge per contact?", "replies": [{"id": "ipe6hsy", "text": "skiptracers on upwork give laughable results", "replies": [], "depth": 4}], "depth": 3}, {"id": "ipf45v5", "text": "Maybe a $0.50 per property at the high end is what I would start to offer you.\n\nIt really depends on additional information in that database such as validated phone numbers, email addresses and number of near term leads for either refinancing or sales you identified in that list.\n\nPaying $750 for a short list of 15 verified contacts and (1%) that will likely be converted to a listing or refinance commission this year is tempting for decent amount of commission.\n\nPaying for 1500 properties with minimal screening and info on the owners on other databases a coworker has access to and no identified leads is nearly worthless.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ipbopej", "text": "Can you copy it and still sell to him?  In my experience the database is only as good as the person using it.  If he wants non-compete on the contacts from you I would need a referral agreement on anything in that database.", "replies": [], "depth": 1}, {"id": "ipbpgw4", "text": "Get a % of commission over any client he does a deal with for the next two years. \n\nYou could have garbage, then you get nothing. He could be lazy then you get nothing. He could lie to you, then you get nothing. But there could be something in there that is worth a lot and valuing it would be hard. \n\nIf he doesn\u2019t want to do it that way, who else would you sell it to?", "replies": [{"id": "ipcpngt", "text": "I would say that's a good idea but knowing the ethics of people in this industry I don't think they would pay up from your lead unless you found out through some other means and specifically asked them for it.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ipbr34c", "text": "Hard to value as numbers and owners change often so constant update is needed. I use Costar but I would call around to those services and see what they would charge and then price 60%. But up to you..", "replies": [], "depth": 1}, {"id": "ipbrfv6", "text": "I\u2019d add that each week that goes by, the value gets closer to zero.  The churn in ownership will cause your data to get stale (aka incorrect) and value decays. Without persistent updating it\u2019s a point in time snapshot.", "replies": [], "depth": 1}, {"id": "ipc0945", "text": "Throw a number out there and give him a copy. I like the percentage of deals idea but hard to track and easy to manipulate. I say one price and move on. Do you have any expenses coming up? Like do you need new furniture or new car ? Give him/her that $#", "replies": [], "depth": 1}, {"id": "ipc1pb8", "text": "If it\u2019s just ownership it isn\u2019t worth much", "replies": [], "depth": 1}, {"id": "ipcqcxj", "text": "Considering there are platforms out there that provide ownership details reasonably well I would think like $1 to $3 per contact would be fair.\n\nReferrals I wouldn't go that route unless you have an extremely high level of trust and ongoing personal relationship with this person.  They aren't going to just send you a check in the mail one day.  If you have a small handful of hot leads you think are likely to lead to a transaction in the next 6-12 months, short enough that you can follow up and track on your own, then you might do that for certain leads.  But with that I would also offer a warm intro to that relationship.", "replies": [], "depth": 1}, {"id": "ipcy3js", "text": "It\u2019s not worth much. Back when OZ funds were all the talk of the town I had some dude from Australia call me and he sold me contact and ownership records of like 200-300 funds for like $60.", "replies": [], "depth": 1}]