The role of property intelligence for the real estate industry
Aug 2024
Discover how property intelligence has become a crucial tool for all real estate firms, enabling smarter investment decisions and enhanced market strategies through advanced aerial imagery and AI-driven insights.
Aug 2024
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Real estate is an industry steeped in tradition. Because of this, many firms were late to adopt technologies. However, due to the boom in property demand and development opportunities, technology for real estate has shifted from being a luxury to necessary for success. That’s because real estate technology can help with managing existing properties, prospecting new investments, researching emerging neighborhoods, and more — maximizing a firm’s capabilities and profitability.
Once reserved for large brokerages, real estate technology is now widely available. This means a level playing field where local market knowledge takes a backseat to local market data. But with so many solutions to choose from, which one is the best?
In a competitive, continually evolving industry, understanding the geographical context of local and regional markets is vital to success. That’s why property intelligence is becoming the leading technology solution for real estate.
What is property intelligence?
Property intelligence is a fusion of high-resolution aerial imagery, 3D modeling, and AI-derived feature detections. This solution is developed to provide real estate professionals with more insights on surfaces and structures. When integrated with real estate workflows, property intelligence can enable a bird’s-eye view of any area of interest to keep tabs on assets, identify opportunities for development, and assess a property’s value.
Accurate property intelligence can also provide real estate professionals with competitive insights for their markets and help them overcome the industry’s biggest challenges.
Using property intelligence for real estate
Every firm wants to be first in an upcoming neighborhood. But how do they find what area is next in line to grow? Current property intelligence allows real estate professionals to instantly access up-to-date insights for areas of interest. This includes parcel boundaries, property characteristics, and more data points — each ready to be overlaid, queried, and analyzed with mapping software. Meanwhile, historic imagery and data can be used to track urban growth and identify what neighborhoods are on the rise.
These insights paint a clear picture of an opportunity’s potential and empower smarter investment decisions.
Highlighting expertise is another benefit of using property intelligence for real estate. Mapping software enables professionals to effectively communicate valuable information with potential buyers such as surface data, roadway accessibility, zoning and taxation regulations, and elevation. Leveraging property intelligence to showcase expertise in a visually-appealing format gives real estate professionals a competitive advantage with buyers who want transparency and clarity regarding a property’s potential before purchasing.
Finding the right property intelligence solution for real estate
Many property intelligence providers claim to help real estate firms with area-specific data, leading mapping capabilities, and visualization technology. But they can’t all be the same, right?
Here’s what to look for when researching property intelligence solutions:
- Data accuracy: Outdated information can result in making losing decisions or being late to the party.
- Aerial imagery resolution: Pixelated insights can be hard to read and negate the benefit of being able to access property data remotely.
- Suite of insights: More features — like AI, 3D, and multiple imagery vintages — mean more insights to facilitate data-driven decisions.
- Capture coverage: Optimizing property intelligence requires full-scale coverage of areas of interest.
- Cross-platform integrations: Data works best when it’s in a central location so look for a property intelligence solution capable of being integrated with other technologies.
The leading property intelligence solution for real estate
Property intelligence provides the data and analytics to influence end-to-end real estate solutions and power smarter strategies. When looking for the leading property intelligence solution for real estate, the answer is Nearmap. Our insights help professionals streamline developments, enhance urban planning, and optimize facility maintenance with clear and current aerial views, 3D content, and rapid AI-based feature identification.
Real estate firms choose Nearmap property intelligence because of our high-resolution aerial imagery for 87% of the U.S. population, advanced data for 100M+ commercial and residential properties, and proactive property data updates (with area insights refreshed up to 3x per year). And, Nearmap offers flexible integrations via APIs and other connectors to level up real estate technologies.