Artificial Intelligence in Quest To Risk Return 2018 -19
The current REAL ESTATE market in India 2018 positions itself as traditional investment instruments. Investors and real estate assets are improving construction quality, improving transparency in real estate markets. The market size for investment grade has increased for properties under construction. The new government mandates to deliver infrastructure and reform real estate enabling investors sitting at the fence to execute investments.
“Location, location, location” is said by some real estate agents to be the most important feature of a house. We found that wasn’t true, at least for linear models. The most important feature of the house was its interior living space. The second most important feature of the house was a feature related to location: the median income of the census tract holding the house. What is the data break up for renter in terms of married, single, divorced Income, unsurprisingly, has implications for the way we live how many owners are married and married with children? Is there any data spruce from where this feed can be made available? WHAT is the income gap between owners and renters TODAY IN THE COUNTRY? What are the support/housing costs for owners/ renters? Has it increased or decreased with time?”
There are many questions that are prevalent in the real estate market for developers and buyers today. Real estate portals won’t make recommendations based on physical characteristics of rooms, price, square footage, but based on the consumer’s personal value system. Properties will be matched to individuals based on personality traits and preferences. What if a consumer filled out a profile and was matched with properties that best fit his or her ideologies?
Artificial Intelligence(AI)is the ability of a machine to solve problems by learning over time. It is similar to the way a brain processes information while making a decision.
The technology is now so pervasive,
Zvestamate is for community sharing on the decision of WHAT, WHEN & WHERE of constructing homes for Builders and Developers .What to buy, when to buy and where to buy homes for consumers.
When a machine tells consumers that a property is a good deal, it’s because it has calculated that answer, based on all the data that’s available to it
This Artificial technology categorizes each inventory based on PAS the Physical data, Amenities and Spatial data. Algorithms run on the data that consists of construction features, interiors of the homes, facilities provided inside the home, the floor and the tower, the facing details, amenities with in the society, towers location and the nearby Geo location features that surrounds the project & based on these data, rating is be done for properties. Likewise, some home sold from a particular category of homes will help in the price prediction of a similar home in that category stack and will also work as a recommendation service based on Identifying Customer buying habits. What type of customer consumes what type of inventory. For many years, selling or buying a house has been seen as the most complex business one would engage in. As a home seller or buyer one would want to know every essential detail about the property. What affects the price, whether home is to be bought now or later. For example, Builders are constructing homes but are unable to sell them. Builders are also offering number of amenities but customers still don't like their home. Now from the customer’s end, they are not sure what type of home should they buy, should they buy now or should they wait and buy later. We are building transparency in Real Estate by building a Real Estate Rating & Recommendation engine that is based on Artificial Intelligence.
We work on technology like Predictive Analytics for real estate thus offering opportunities to the Real Estate companies that embrace this technology in the right way & enjoy its benefits at its infinite. Centralized engine for hosting their inventories All the gathered information directly from builders related to their projects & inventories would be hosted on our website and the user can view in depth detail of the property along with its rating & how strongly it is recommended.
AI algorithms also have the advantage of being objective decision makers. When a machine tells consumers that a property is a good deal, it’s because it has calculated that answer based on all the data that’s available on it. When a human real estate agent tells you it’s a good deal, it may be because of their intuition, or may be because they have a vested interest in getting the property sold. Home buyers are no more dependent on the brokers or builders to get an overview of the location and project. Through features of Analysis, reports through graphs & charts consumers are able to understand in depth about trends, locality sentiments, best buy with features in the different projects, details of the project etc.
In the future it’s feasible that an AVM system could be applied to home buyers and not just sellers. What would that look like? What if you knew about the trends and tendencies of someone looking for a home? What if you knew what their income was and what qualities in a home were important to them? You could price homes based not just on the market, but based on individuals.