The Big Data Effect In The Real Estate Sector

How will the consolidation of Big Data affect the Real Estate sector? The storage and processing of data, and especially its democratization to companies, are the next revolution in the technology sector. In this article we will analyze how useful information can be derived from concrete data.

At the end of the day, the term Big Data encompasses a volume of information, structured and unstructured, which, being analyzed and treated, can lead to a potential business.

Thanks to this volume of data, it is possible to find out the consumption habits of the public of a company, develop more effective marketing strategies and know, in advance, where the core business of a company is located.

Would we change our real estate promotions if we knew what our target audience is looking for ? The answer is undoubtedly yes. And we are not that far from having that information in the real estate sector.

But how will it affect the Real Estate sector?

Although Big Data technology is already being used in the technology sector in every company, it seems essential to take care of, order and treat its database.

In fact, unlike other products, real estate is more difficult to count in consumers, price or market value. That is why, accumulating and processing the data related to a real estate is key to its success. For example, data like:

  • Average price per square meter in the area
  • Construction materials
  • Impact of previous marketing campaigns
  • Searches for potential customers in the area
  • Demographic and socioeconomic data of potential clients
  • Public services in the area

In fact, there is even a next step: if old contacts are reactivated, other audiences interested in the promotion can be captured . In the network we can have access to personal data such as: number of children, dependents, personal interests, among others.

Also, it is essential to save previous contacts in an updated CRM to optimize marketing campaigns. It is as important to fill out the CRM as it is to know how to treat it so that your real estate promotion reaches the right recipient.

New technologies (and Big Data): an opportunity for the real estate sector

Real Estate experts argue that the new technology revolution, led by Big Data, promises to be a turning point in the real estate business model : a sector that moves a trillion dollars worldwide.

The relationship between the buyer and the seller has changed paradigm: nowadays the buyer is an active user, who controls the supply in the area, who is autonomous in the search and who uses new technologies to search for his home.

One of the advantages of technology is that, from now on, real estate professionals of lahore smart city can use Big Data to improve their experience with their audiences.

In fact, if before they went blindly in a conversation, today they already know the profile of the interested party , why they are interested and, especially, in what aspect of the property. With this information, the promoter has added value to face the sale.

Not surprisingly, based on macroeconomic data and demographic indicators , real estate developers have more information to optimize the sale. These variables include, among many others:

  • Local demographic studies
  • Moving signal patterns
  • Opinions to public and private services in the area
  • Access, mobility and infrastructures.

With personalized business management tools, real estate developers are faced with the challenge of combining, treating and taking advantage of the volume of information available to them.

Are you interested in more information on how to adapt Big Data technology to your real estate development? In that case, leave a comment below with your thoughts. Also, share them with other professionals in the real estate sector.

What Is A Real Estate Offer Study?

To make decisions it is important to have the necessary information. Knowledge that we acquire after analyzing data and processing ideas.

To have an accurate picture of the market, a Real Estate company must carry out a study of the real estate offer of each promotion that it wants to carry out. This allows you to minimize the risks of promotion, improve sales strategies and ultimately, sell better. In this article we will see the basic elements to have a proper portrait of the sector.

Reasons to carry out a study of the real estate offer

There are all kinds of reasons to carry out a market analysis, all of which are valid for a real estate developer. This type of exercise solves doubts such as will I be expensive? Are more offices necessary in the neighbourhood?

How much does it cost to rent per square meter of offices in this city? Is investing in flats for sale more beneficial than renting? And so, a long etcetera.

In short, a study of the real estate offer provides solutions to the business questions that we ask. Also according to our commercial objectives we will seek to answer some questions or others. What is certain is that we will be able to compare and make our project better and more effective thanks to the previous study of the real estate market supply.

What if we want to analyze the entire real estate market?

A complete study should be looking at three important points: current market data, demand data, and competitor data. Let’s see what each of these elements is:

Current market data: these are technical specifications of the real estate in an area (square meters, price, rooms, type of home, years of construction, sustainable eco card, …). In this section, the geographic market must be delimited, since the strategies will not be the same if the space is a neighbourhood, a polygon or an unbuilt area.

Demand data: these are figures that demonstrate the needs and tastes of future customers. An in-depth demand study allows us to predict what target customers will want, in order to prepare our products to satisfy them. Know their purchasing power, where they work, how they have fun , etc. That is, knowing the target is the most important thing to be able to carry out a business, the product must be adapted to the public, not the other way around.

Competitor data: in order to sell, the important thing is to offer something different. So by thoroughly investigating competing real estate in nova city , an alternative service can be offered. If you know your rival.

It will be easy to anticipate their steps, understand market trends and where your competitors are directing their actions. In order to have a visual idea, a SWOT study (Weaknesses, Threats, Strengths and Opportunities) and a Cartesian axis are prepared to locate our company with the rest of the competitors.

How to analyze the supply of the real estate market?

Supply studies are very useful to bring a new product to the market or to draw conclusions about the Real Estate market at a given time. Currently, access to public and private information usually consists of several obstacles and with data that is often out of date or with errors.

To advance in this study, you can trust a real estate online marketing agency. These types of Internet advertising professionals unify the data from the demand study and the supply study to find the right type of person to sell the apartment.

With this information, advertising is designed looking for this specific client. In addition, professionals can organize the real estate portfolio to divide each product with a specific type of client.

In conclusion, a study of the real estate supply scans the entire Real Estate market. For this it is so important to know the buildings already built, the needs of the demand and your competitors. For this detailed and complicated work you can trust an online marketing agency specialized in the real estate sector Tajarat properties.

ComScore estimates that in 2020, yes next year, 50% of Internet searches will be by voice. This means that searches through our devices such as mobile phones, voice devices, televisions, etc … will be an upward trend in digital marketing in 2019. For a real estate developer’s website to capture the highest possible traffic, you should think about adopt strategies for verbal requests.

This has a great implication in searches especially for flats, which will affect the Real Estate. Imagine a family on their television quietly searching for flats through their assistant. This now seems like a fantasy will be common in less than 12 months.

Read here some of the characteristics of this new way of interacting with the network.

Conversation between voice searches and chatbots

Conversation is a human trait that more and more devices adopt. Whether it’s Siri, Alexa, Cortana, or Google Now, all of these personal assistants aim to dialogue with us.

Users ask questions to the microphones of their gadget, and the person is sent towards the best result according to the algorithm of the device. To improve this interaction, you can apply a chatbot on the other side of the result. In this way, the user will be literally talking with a robot on your website.

Of course, this automation must respond to all customer requests, if the robot remains silent or enters a loop repeating the same response, the most likely thing is that the user ends up leaving that page, which will lead to lower positions to the page. In other words, it is vital to implement a working automated spoken response now to stay ahead of the competition.

 

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