Search Property Navigator
Real estate transactions in general are very complex. Some of the main challenges
of the real estate industry today are:
- Many tasks executed by people across different industry sectors:
Real estate transactions normally require to follow a complex process. This process
requires the execution of many tasks that involve several people from different
industry sectors (and in some cases countries) such as buyers, sellers, real estate
brokers, lenders, lawyers, tax accountants, closing agents, etc. Communication amongst
the people involved can be a real challenge. There is usually no clear understanding
from the buyer's and seller's point of view what every person's roles & responsibilities
are. This can lead to costly mistakes that can sometimes ruin or delay the sale
or rent of a property.
- The property selection process is time consuming: Most information
about real estate properties is on web sites or word of mouth. Sellers and landlords
need to spend a lot of time setting the pricing of their property listings. Buyers
and renters also spend a lot of time digesting the available information in order
to select the properties that meet their objectives.
- Fear of real estate investments in other cities and countries:
People that want to buy properties in a different city or country are presented
with other challenges as they do not know what areas are good or bad, what prices
are competitive, and the types of risks that properties may have.
- Optimal price points and best location based on buyer's objectives:
The real estate ecosystem of pricing and best location behaves different from city
to city, zip code to zip code, building to nearby building and even different apartments
within the same building. This type of information is not readily available in a
form that is up-to-date, easy to get and easy to understand. Most people that are
web savvy normally look up the information on a case by case basis. Other people
rely on the knowledge of real estate agents. Real estate agents normally focus on
a specific area and will only be able to provide a comparable market analysis and
best location information on their geographical area of expertise (farming area).
Both ways of getting the information are very manual and can lead to a higher probability
of getting the wrong pricing and best location information and thus wasting time
The Properties Navigator was designed as a way to provide an iterative
and automated process or Activities, in order to find solutions for Real
Estate customers. Each Real Estate activity is implemented as a Fully Automated
Flow or series of automated and iterative steps. The ultimate objective
of each flow is to provide with an optimal real estate property solution that matches
buyers' and sellers' objectives and requirements. Users can specify unlimited number
of objectives & requirement scenarios via Property Search Profiles.
The Properties Navigator uses the integration of the real estate process,
real time market analysis intelligence and risk analysis in order to generate solutions
for buyers and sellers based on their Property Search Profiles.
The Activities or Flows that the Properties Navigator
Managing Search Profiles:
Step-by-step process to create, modify or delete your search profiles. They
are designed so that the user can have a way of searching for properties that have
different investment objectives, specifications and requirements.
Buying A Property:
Step-by-step process to search for, calculate and analyze automatically the
optimal price range to purchase a property, its operating expenses and its Cap Rate.
This process is designed to search for listed properties (for sale) according to
the user's objectives and specifications. Users are required to select a Search
Profile in order for the flow to provide optimal results. Users can move
from one step to the next by selecting the Next button located at the bottom
right-hand side of the page.
This flow allows users to select one property at a time. It automatically performs
analysis on key real estate metrics trends such as Comparables Market Price, Potential
Rental Income, Inventory, Days On The Market (DOM) and Sales to Listing Price (SP/LP)
Ratio. The Buyer's Summary gives an overview of all the analysis steps and compares
the listing property versus all data derived for Comparable Properties. The flow
also calculates the property's potential rental income and recommends the Best
Purchase Price that the buyer should offer for it. As a final step it performs the
analysis of the property's Operating Expenses and potential Cap Rate.
Users can also start a new search at any time by pressing the button Start New Search.
This will allow them to change to another search profile.
The steps that are followed by the Buying A Property are:
- Profile Selection
- Resulting Properties
- Selected Property Listing Overview
- Purchase Price Analysis
- Rent Price Analysis
- Inventory Analysis
- Days On The Market (DOM) Analysis
- Sales To Listing Price Ratio (SP/LP) Analysis
- Buyer's Summary
- Operating Expenses & Cap Rate