iReal: Trust Your Data | Commercial & Residential.
While consulting real estate enterprises on Machine Learning and Analytics, we observed the widespread poor quality and fragmentation of real estate data provided by data sources such as real estate boards, municipalities, and private entities, which result in unreliable insights, no matter the efficiency and brilliance of the AI, machine learning and analytics used; and how costly and complex it is for organisations to address such flaws.
Armed with this first-hand knowledge of the struggles and hefty price tags real estate organizations face when it comes to data, data hygiene, data enrichment, and process automation, iReal has developed the first Real-Estate-Data-Platform-as-a-Service with made-to-measure AI and NLP engines as a SaaS product: A plug-and-play revolutionary platform specifically built for the real estate industry, unifying data and AI, and with an eye on keeping overheads minimal thanks to a Pay-as-You-Grow model and a 100% serverless environment.
With digitization giving the real estate industry access to more data than ever, there is a growing appetite for data strategy and data-driven decision making. And yet, real estate companies both large and small keep failing in their data strategy efforts for multiple reasons:
- the data is fragmented, inconsistent, siloed, opaque;
- the processes are manual, time-intensive, inefficient;
- the invaluable local intelligence captured by real estate professionals on the field (e.g. a simple listing description such as a broker’s commentary on a property in her own words) gets lost and never gets exploited for data insight purposes.;
- the resources required to overcome these fundamental flaws are expensive, in short supply, and rarely available to real estate organizations.
With such deficiencies, even companies bringing innovation to the industry (AVMs, enhanced search, GIS, mapping, analytics, etc.) struggle to fulfill their product’s pledge – after all: “garbage in, garbage out”.
The abysmal returns on organisations’ data strategy have created a sense of extreme urgency and clear awareness in the industry regarding the need to fix the flaws behind those documented failures.
Tailored to both commercial and residential real estate companies, iReal eliminates the complexity associated with the fragmented nature of real estate data; reduces the costs of ownership and maintenance of in-house platforms; and replaces the requirement for expensive and hard-to-get internal resources and expertise.
COST REDUCTION AND OPTIMISATION: Decrease in monetary and time drains currently experienced because of unreliable, incomplete and inconsistent data.
MORE DEALS AND REPEAT CUSTOMERS: Faster and proactive client engagement, hyper personalised value-based offers, real time accuracy, data driven insights rather than intuition-based.
HEALTHY WORK PRACTICES AND IMPROVED FOCUS: Increase in real estate professionals’ mental health and well being, as in a society accustomed to instant gratification, iReal provides the industry with critical speed and real time accuracy, thus eliminating the feeling of inadequacy, the emotional distress and the anxiety about losing clients for not being able to provide the instant gratification, the convenience, and choice customers now expect in all aspects of their life.
CONFIDENCE IN DATA BASED INVESTMENT PORTFOLIOS AND STRATEGIES: Increased accuracy of investing decisions thanks to structured, trustworthy and enriched multi-source data and enhanced efficiency of matching supply and demand for investment purposes. Increased tax estimations and appraisal’s accuracy, by providing full visibility & intelligence into Comps and taking into account all offers & sold properties to date.
BETTER INTELLIGENCE = COMPETITIVE ADVANTAGE: Dismantling the information silos, enabling holistic access to data and analytics about operations and customers.