The discovery of oil has played a major role in the business industry. From electricity to the development of transportation and communication, oil serves as the foundation of many infrastructures and manufacturing companies. Vehicles, airplanes, and ships use oil to run automotive engines in order to transport people in different places, and to deliver goods in their respective destinations. Aside from its contribution in transportation, oil also serves as the building block of electricity by supplying energy to power sources. Indeed, oil has been coined as the “lifeblood of an industrialized society.”
In today’s digital era, modernization extends the contribution of oil to new innovations in the community. Electricity has empowered the internet and cyberspace to be available for public use. In various commercial enterprises, cyberspace serves as the major platform to connect people from one another. Through the use of internet and computer technology, it is now possible for businesses to have a virtual workplace and maintain a work from home arrangement.
The impact of oil, electricity and the internet continue to shape the business community, including the real estate industry. One of the resulting products of these three components is data analytics. As with oil, data analytics also creates a huge significance to the society.
Same with other businesses, data analytics has become the fundamental structure of various automation tools in the real estate industry. It also serves as the basic element in finding deals through spreadsheets. For this reason, many have started to believe that “data is the new oil” in real estate investing. Here are the valuable contributions of data analytics in real estate:
In making property valuation, the real estate investor takes a lot of considerations such as the condition of the property, appraisal methods, market value, and the property comparables. It takes time and effort to complete a CMA (Comparative Market Analysis), especially for new investors.
Through the use of automated valuation technology, doing a large number of comps can now be done faster. At Real Estate IQ, we want to empower your journey through freedom and success. In this line, we offer you investment tools that can help you accomplish your business goals.
Deal analysis is important to assess if the subject property has high investment potential. Analyzing deals includes gathering relevant data to assess projected returns, sorting the necessary information, and keeping the records for assessment. As you need to do various tasks, doing data analysis may be an overwhelming duty.
At Real Estate IQ, we do not want to turn your goals into worries. You may check our tools which may help you to analyze deals even if you are just at home.
Through the availability of information and analyzing data, finding deals can now be narrowed down into a targeted list. You can specify your searches by ownership, property type, location, geography and home value.
Our Deal Finding Suite may help you in collecting relevant data based on your own preference. It is an investment tool with a county-data finder which can help you create reports based on the information you need.
You may also join our community portal where we help each other grow, feel free to be part of it!
Credits: Joseph Dela Cruz has a background in Mechatronics Engineering and started his career in the high-tech industry in Austin, focusing on computer vision while becoming involved in the growing DIY/ maker and startup culture. His achievement includes bringing innovation in Real Estate IQ by combining technology, big data, and real estate; managing the Data Operations and Engineering team; and REIQ’S Austin & San Antonio Market Leader