How is the Power of Big Data Improving the Real Estate Industry Website? [Case example]
Big data is already making a revolution in all business areas, and the real estate sector is no exception. John D'Angelo once said, "Real estate has traditionally been a late adopter in tools and technologies," but that is no longer the case.
The application of big data and real estate websites today creates an explosive mixture — in a good way.
As a result of using real estate website and big data together, everyone who is related to the real estate industry benefits:
- estate managers
- clients who want to find their dream home
- construction firms
Today, our web development company's goal is to tell you about the real estate websites and big data's effectiveness and show you how it works by example.
What is big data?
We decided to tell you more about what big data is before examining all the benefits of big data on the real estate industry website.
Let's abandon the generally accepted and convoluted definitions. In plain language, big data is a large amount of data you receive from various sources that allow you to forecast the future. You need this kind of data in the real estate sphere because it is your base and a guarantee of your future project's success.
Provides information about the property's size, the price, the nearby schools, etc. It is data that everyone knows and is in the public domain.
In real estate website, shows information about who will be your neighbors, the amount of light throughout the day, the level of noise, how many bedrooms there are, the neighborhood stylistic preferences, etc. It is far more detailed information.
Big data's main strength lies in providing a company with valuable insights into customer behavior, recent trends, and more. And based on these, it can build a business strategy.
Only with the right use of big data will the company get the desired results and win customers.
Big data analytics helps the real estate company website:
1. to make the right decisions
Based on all the information received, the heads of the companies can make the right decision about a strategy for promoting the business.
2. to save money
Using extensive data, the probability of saving on costs increases several times.
3. to increased productivity
Big data tools are becoming a catalyst for the entire company. They help process requests faster.
4. to improve company reputation
Big data helps to monitor customer satisfaction and improve its level based on feedback on social media.
5. to improve user experience
The key goal for big data usage is to meet the customer's expectations.
6. to grow company revenues
If a company uses big data correctly, then the company's profits will constantly increase.
Significant benefits of combining real estate website and big data
The ability to receive such detailed data opens up a whole new level for real estate websites. This is what everyone was waiting for, and all players are sure to win from this update.
Real estate providers who have implemented real estate big data analytics into websites are already attracting more clients and, accordingly, succeeding among their competitors.
This is because they can provide super unique offers and please every customer. Realtors, investors, clients can finally calculate risks and make reasonable investment decisions.
To prove it, here is a detailed description of the benefits each of the various roles receives.
Real estate website and big data value for consumers
Homeowners usually start their search for real estate on the Internet, but they turn to a real estate agent sooner or later.
This happens for one simple reason - there is a lack of unique offers and a personalized approach.
Yes, all sites can be filtered by parameters, but this is not enough for today. Have you ever seen filtering by such parameter as
- the color of the countertop
- the distance to Starbucks
- the distance to the nearest construction site?
Providing such detailed information will allow the client to narrow down the number of options to a few that fully meet the client's wishes and expectations.
For example, a mix of real estate and big data analyzes all the apartments' images and researches the color of walls, the color of the furniture, the type of floor, etc. Based on that, it provides you the best options.
Real estate website and big data value for the real estate agent
As we already said, sooner or later, everyone ends up with real estate managers. And believe us, no one will pay for the services and information they can get on the Internet on their own. To be a successful real estate agent, they should provide unique offers.
An estate agent that uses big data to do this will be able to beat any competitors. Big data will allow them to get answers to any questions in real-time. Your clients will appreciate it if you get them the best choice in the real estate business.
Real estate website and big data value for investors
Before investing money in any business, you need to calculate everything. Today, all crucial deals DO NOT go through without the help of AI and big data.
As an investor, you can do without this, but calculations and forecasting now occur almost at the speed of light. And those who are in business know that decisions must be made quickly.
ML algorithms calculate all the nuances that impact the housing cost quickly and with minimal deviation. As a result, investors can rely on this data and invest in genuinely good offers with minimal risk.
Real estate website and big data value for construction
Big data is equally important in engineering and construction. Their central importance lies in the fact that big data allows you to calculate costs and make an acceptable price for future real estate.
Big data will be especially relevant when the project is large, and construction will take a long time. In this case, it is simply impossible to calculate accurately without big data.
For instance, by involving drones in construction control, you can immediately identify shortcomings, monitor your employees, and get big data.
All the data obtained will help Project managers to manage resources and costs better.
Real Case of Big Data In Real Estate website made by Wishdesk Web Development Agency!
So you can see what we are talking about first-hand, we decided to show you a real Gridics case made by Wishdesk. Our partners are a unified platform that aggregates accurate real estate data and analytics.
The Gridics case study by Wishdesk shows our experts' features for this real estate data aggregation platform.
In the process, we found 3 main challenges:
- old code
- slow facet ranges
- lack of integration with PostGIS
What Wishdesk web development agency did:
- cleaned the code
- implemented fast Ajax demon to speed up the search
- made commerce integration with Stripe
- building a shell script for a 5-minute automatic deployment
As a result of cooperation with us, The Gridics real estate platform received the following results:
1. a powerful site loads quickly
2. combined real estate data from different sources in one place:
- MLS sale and rental listings
- recorded sales
- property records
- traffic information
- recorded mortgages
- recorded liens
3. filtering data for different requests
4. fast indexing data with Apache Solr
5. data import from CSV, Excel, MDB, Shapefiles
6. custom tiles implementation for Mapbox
7. SSO integration
8. superfast search filters and facets
9. custom PDF report generation
If you are in the real estate industry, then big data can play into your hands. In real estate, all decisions must be made quickly and based on accurate analysis of various types of data.
Big data provides this kind of information and benefits for all participants, from builders to clientele. The implementation of big data in real estate websites is one of the latest trends bearing fruit today. Implement big data into your business with our web developers to become the forefront of your industry.