Terrific insights from RISMedia on “5 Ways Big Data Drives Innovation in Real Estate”.
Among them: “1. Developing More Accurate Property Valuations — Every agent knows pricing a property correctly as soon as it goes on the market means everything. In markets where low inventory is sparking bidding wars, picking the price that could trigger multiple offers requires a delicate balance. Big data provides appraisers & agents with thousands of comparable properties instead of just a few, along with insight into market trends. Investors can rely on this analysis based on multiple data points to analyze value.”
While this is certainly the case for residential units, it is more acute for commercial RE. Most CRE assets are viewed as strategic and not managed tactically or worse are a dead asset sitting idly on the balance sheet.
Inveniam software challenges these assumptions. We have built tools to allow property owners of “thinly traded assets” – ones that don’t change hands often – to be awarded a price from one of the leading commercial real estate players in the world – & a Big 4 accounting firm. Taken together, this makes conversations with bankers that much easier – & unleashes enormous value for stakeholders looking to maximize capital efficiencies. #VerifiedByInveniam