Market Intelligence for Portfolio Managers
A key challenge in the real estate industry is to be ahead of the news, understand what is going with the market, and be able to advise to customers and brokers in your team.
Leveraging Market information
Market teams have to observe situation and changes in the market on a monthly and quarterly basis. And build reports on changes such as :
The uptake in office, industrial or retail sector
Building renovations and demolishment
Changes in the price trends
The problem:
Market analysis is a complex task because you deal with multiple data sources stored in different shapes and forms. It may sometimes be a table, in a database, Excel spreadsheet or in other cases it is an API. The main problem was to implement a uniform system across multiple offices so that the whole company could use same automation and preferably the same KPI that are needed everywhere.
Since there was no uniform system in place, some market researchers worked in Excel spreadsheets, while others calculated stats in PowerPoint presentations. However, one of the teams had a great approach where they designed an ingenious system that had potential to become a standard across the company.
The solution
The final solution included three aspects:
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A database that can store historical changes for each property.
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It must have multiple templates for data import from other data sources like Costar
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Take regularly scheduled snapshots of the current market situation.
