Big data is just now being used in the world of real estate. Put to good use, however, using machine learning to crunch numbers and observe data, such as how homes are selling in an area, can greatly affect the buying and selling process. From setting prices to marketing, and even determining if you will be able to get a good mortgage, big data can streamline major parts of the selling process.
Setting a Price Whether you are working with a real estate agent or simply selling your home yourself, one of the first big decisions to make is at what price to list your home. This can draw people to your house or drive them away. What if, instead of guessing or relying on a comparative market analysis (CMA) from your agent, you used big data? This would essentially take a CMA and scale it up.
Author: Editorial Team