HOW DATA-BASED DECISIONS CAN IMPACT YOUR REAL ESTATE INVESTMENTS
As the world of artificial intelligence and data analytics continues to evolve around us, it’s important to remember how these tools can help improve our profits, lead us to lucrative development areas, and boost investor satisfaction. These technologies put vast analytic potentials at our fingertips, and the best way to discover those residential hotspots and booming neighborhoods is to dive right in
There are many resources at our disposal in the search for detailed, unique data points and information in the field of residential real estate The classic proptech go-to’s like Zillow and Airbnb can give us valuable information about the popularity of certain areas and can help sell properties and guide development. But it’s important to incorporate the more non-traditional data sources as well.
Social media tags let us know where populations are moving, along with mobile signal patterns, and even review services for local businesses like Yelp and Google. Be sure and look outside the box to determine where analytics can be mined in places that might be traditionally overlooked. One example is surveys covering tenant satisfaction rates - these can then inform the potential of long-term occupancy
Of course, it’s not just the value of a property that data analytics can help define It’s also a major factor in leading the industry to the right kind of buyer Connecting people with investment opportunities that are aligned with their needs and budget has never been easier with the help of proptech, which in turn saves time and energy for everyone involved.
In an industry and field that is continually changing with the times in unpredictable ways, data analytics allows us to mitigate risk by keeping investors as informed as possible. The more information that can be gleaned about market irregularities and financial gauges, the better prepared and more flexible professionals in the field can be.
Residential real estate is highly changeable and sometimes volatile, so we should all the analytics tools available to us to keep up With actionable insights to be gained from a variety of sources ranging from the conventional to the cutting edge, investors need to be equipped to navigate the industry
Written by:
MARK LITWIN
Proptech and data analytics empower investors through providing a glimpse into the future, demonstrating which areas can earn impressive returns with hard facts instead of relying on instinct or hunches alone. These tools act as stabilizers to alleviate risks and boost investor confidence.