Real estate is a dynamic space where buyers, sellers, agents and brokers are constantly interacting with each other. Companies in the real estate market have access to unique first party data which has information about these interactions as well as properties that are entering and exiting the market. Real estate businesses, especially those with an online presence, can generate a large amount of data about viewers and customers. These digital interactions accelerate data collection. In this crowded real estate landscape, leveraging data can provide companies with a huge competitive advantage.
The ML advantage:
The real estate industry is already adopting ML for various use cases. Companies can use their data and leverage ML to (a) enhance a customer’s experience (b) enable customers to make informed decisions (c) optimize the company’s operations.
To provide some context,
- If you are a company that sells through agents, you may wish to predict which visitors to your website are primed to transact so that you can focus on winning their business
- Or, if you own and operate real estate assets, you may be interested in predicting who is at risk of not renewing a lease so that you can save on acquisition costs
- But if you are a service enabling consumers information to buy or list online, you may want to offer housing-related predictions (market value, time-to-sale, etc) to empower customers to make the right buying and selling decisions
- Otherwise, if you are a company looking to improve a visitor’s online experience, you might want to know what content to recommend in order to personalize their experience.
Optimizing these processes can be the differentiating factor between staying ahead or falling behind competitors.
Our approach:
ML has a huge potential to influence the real estate industry. At Vidora, we make the ML process easy for anyone at a company to use and deploy within their business.
To generate predictions, all you have to do is
- Integrate your company’s live data sources
- Build an end-to-end pipeline in just a few clicks.
Our platform, Cortex, ingests large volumes of raw data and automatically processes it to fit a format suitable for ML. Using this data, Cortex generates the best predictions, helping companies understand and serve their customers in an improved way.
Building predictions in Cortex
The start to building end-to-end pipelines in Cortex
Predicting customers likely to purchase property
Summary:
ML can help real estate companies automate and improve their processes. Cortex automates the entire ML and data wrangling process, making it unified and seamless. Using Cortex has made the process of building pipelines and generating predictions easy even for non-technical stakeholders.
To learn more simply contact us or send us an email!
