The real estate sector is still very traditional and only in the last decade has begun to use the latest technological advances to make life easier for professionals and to speed up work processes. With the Covid-19 pandemy, many of us have had to ride the wave of digitalization earlier than we had planned. However, this should be interpreted as a perfect opportunity for technology and the human factor to go hand by hand. As a result, we can process larger volumes of data that allow our clients to make better decisions and optimize their daily work. In this article, we explain how Big Data can help you to analyze real estate investments and create attractive investment documents.

What is Big Data?

Big Data refers to a large volume of data that is stored, processed and analyzed in a massive way, taking advantage of the boom and democratization of new technologies. Its importance appears when this data is organized and structured in order to make better decisions. Considering that data comes from different sources, it is very important to clean and transform them to obtain their quality and validity.

Why is Big Data important in the real estate sector?

The correct use of data allows us to reduce expenses and time needed to analyze an investment opportunity based on proven information, while also being a great support during the analysis of properties and their yield. Moreover, thanks to the use of Big Data, we can provide our clients with data about the environment, analysis of the city and the area. Data is provided from different perspectives such as economic, socio-demographic or others of equal importance, depending on the investment project presented.

From a personal point of view, Big Data is a tool with which we professionals in the real estate sector can automate parts of our daily work. In this sense, a widespread example is that of the real estate broker who has to perform several tasks at once and, unfortunately, is always in a hurry. All this despite the fact that the preparation of real estate investment documents (teasers and dossiers) is an important task that requires a lot of effort and time. In fact, for its preparation, much of the property data must be collected such as surface area, year of construction, number of units, characteristics, etc. Also, other data related to the environment in the sections of the area report, distances, points of interest, population evolution or unemployment rate, must be included as well, for example. Its variety and extension will depend on the investment project planned for the property offered. Fortunately today, the democratization of Big Data allows us to analyze and collect all the information instantly shown in a single report.

When preparing these reports, at iDossy we recommend that the data is presented in a structured, clear and attractive manner (e.g. with tables, graphs, photos and icons), as it is important to keep in mind that these are sales documents. This is why they should be easy to read so that the investor can decide in a few seconds whether he is interested in the property or not. It is necessary to dedicate a special affection to the design (i.e. to include a good cover), as the commercial presentation of the property is being showcased at the same time: the presentation of the company’s brand and its image that will end up in the hands of a possible investor. However, we do not always have the time and resources needed to hire a graphic designer who can create a document with a more advanced design.

Due to the effort required, up until now, investment dossiers were only made for the most exclusive properties with a high value. However, why not do it for all properties and thus transmit the professionalism of your brand?

Why not take advantage of the technology we have available to us to save time and improve our company?

Tanja Pirnat

CEO iDossy