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Major Challenges of Big Data in the Real Estate .pdf


Original filename: Major Challenges of Big Data in the Real Estate.pdf
Title: The Real Estate Industry in 2017

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ENGES
L
L
A
H
C
OR

MAJ

TRY
S
U
D
N
I
E
T
EAL ESTA

OF

THE
N
I
A
T
A
D
BIG

R

Technology in the Real Estate Sector Today

85%

57%

55%

of all firms encourage
their agents and brokers to
use multiple listing sofrwares

of RELATORS were atleast
comfortable with using
social media

of RELATORS use their email,
smartphone, desktop computer,
cell phone daily,
or GPS daily or nearly every day

48%

18%

of all firms cited keeping up
with technology as one of the
biggest challenges facing their
firm in the next two years

plan to use drones in the
future.12% have someone in the
office who does, and 11%
hire a proffessional

BIG DATA IN THE REAL ESTATE SECTOR
Based on Catella Research’s survey of 468 international Real estate companies based in Europe, the
following results were obtained about the amount of data generated and its evaluation process in the
Real Estate industry

THE SURVEY PARTICIPANTS
Major Real Estate Sectors Focused by The Participants
In Percentage

6.9%

22.3%

Building Management

Transaction Consulting

11.5%

Property Finance

13.8%

Fund Management

28.6%

16.9%

Property Investment

Project Development
/ Implementation

Employee Strength of The Real Estate Firms Participated
In Percentage
0

10

20

0-10

20.4%

11-50

22%

51-100

30

40

50

60

70

80

90

100

11.4%

101-500

23.5%
22.7%

>500

CURRENT SCENARIO IN THE REAL ESTATE INDUSTRY
Business Units in The Real Estate Sector Generating the Most Data

30%

27%

of respondents believed
controlling, generated
the most data

say Sales generated
most data

50%

37%

29%

of respondents stated that
they believed that finance
and accounting activities
generated the most data

say its master data
administration

say its Document
Management

Top Activities in The Real Estate Sector Generating the Most Data

57.5%

55%

44%

selected market research

building management

Valuation

38%

38%

38%

Project Development

Property Finance

Transaction Consulting

Who/What Is Responsible for Data Collection and Processing?
In Percentage
25
20
15
10
5
0

3.4%

6%

Students
/ Interns

Staff in
data science

12.1%

Staff in IT

15.5%

Assistants

16.4%

21.6%

Nobody

Staff in
controlling

25%

Staff in
research

Percentage of Companies Using Paid Real-Estate Databases
In Percentage
60

48.8%

Thomas Daily

50

35.5%

40

25.2%

30
20

21.5%

IZ-Digital

16.8%
PMA

9.3%
RCA

10

INREV

19.6%

16.8%

Other

RWIS

MSCI / IPD

23.4%
No

0.5%

2.8%

Datscha

Emporis

0

CHALLENGES OF THE CURRENT SYSTEM
Routine Transparency Related Issues Encountered in Real Estate Sector
34.2% -

6.1% -

Lack of standardization
for data/collection
methods

19.3% -

21.1% -

19.3% Lack of mandatory
information regarding
transactions

Situation regarding data
about market
subsections
(esp. B-listed locations)

Lack of a
central data
resource

Other (Incomplete
information, Variety of
building stock,
Difficulty in gathering,
storing and analyzing
data on tenants and
properties, Closed
markets, Lack of cross
sector data within
building management
and portfolio
management etc.)

The Biggest Challenges For Real Estate Industry in 2017

Low
inventory

Rising
interest rates

Recruiting as
aging agents
leave the industry,
among others

The changing
commission
structure

Finding
leads

Helping their
clients find
affordable homes

Decision Makers in Real Estate Normally Base Their Business Decisions On:
In Percentage

60.4%

23.4%

11.7%
2.7%

Experience

Data

(e.g. big data)

Emotions

1.8%

Mood

Others

See the next Infographics :
The Impact Of Big Data Analytics in the Real Estate Industry, 2017 - https://goo.gl/G9B1QN

USA | INDIA | UAE

info@fingent.com | www.fingent.com

Source :
https://ww2.frost.com/event/calendar/big-data-analytics-whos-buying-what-andwhat-are-they-missing/
https://www.catella.com/Documents/Germany%20Property%20Funds/02_Research
/01_Studien/Catella%20Resarch_Big_Data_%202015_english.pdf

Copyright © 2017 Fingent Corporation. All rights reserved.


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