What is data without expert analysis? 

Big data is the latest thing to make waves across all areas so with the help of Oliver Green and Savills we’re looking at using data analytics in real estate.

The power of Savills iconic reports is how they present and break down the data they’ve collected to make it accessible to all property professionals – data alone is less useful than you might imagine but teamed with the knowledge of industry experts it becomes a powerful tool for purchasing decisions.

Data analytics in real estate.

With data being collected almost everywhere you turn both online and offline, it’s never been easier to find hard numbers on whatever you’re looking for.

  • Highest and lowest rental rates by location.
  • Average revenue in any given high street.
  • Footfall.

3D map of Central London's retail district showing rental cost as a heatmap.What that data doesn’t tell you is what it means for your company or how that changes by season or time of day. The nuance and unique qualities of each location simply aren’t captured by the numbers and that’s where agents come in.

The importance of agents.

The role of agents, especially those in commercial property, is shifting to helping clients understand what that data means in context. As Ollie explained, when it comes to data analytics in real estate it’s about bringing together the numbers from all sources and the small details to give the client a clear understanding of the location and the unit itself.

If we look at Central London’s real estate market we can see that the footfall varies dramatically from one end of the high-street to the other and by time of day. There’s also a vast difference in the type of shops along a single street and therefore the demographics of consumers in each section. These insights are what makes agents essential when making purchasing decisions as they simply can’t be seen with data alone.

Get the report on the evolution of Central London retail now.

Saving the time of buyers and agents.

Visiting a long list of potential units isn’t a feasible option right now and, even when it is, it’s very time consuming. With data visualisation, the key information can be presented in an easy to understand format while an experienced agent runs through how that will impact the business considering that location enabling a long list of potential sites to become a very short list for actual visits.

Want help turning your data packets into beautiful visuals?

The future is now!

As Oliver mentioned in our first video together, the pandemic has only accelerated an evolution that we were already seeing on the high street. The changes in attitudes to shopping and how retail units are used isn’t going away when we kick covid to the kerb which is why embracing the change in property marketing now is so important.

If you’re not already using data analytics in real estate marketing, we’d love to know if we’ve changed your mind.

Stay safe and keep selling,
Patrick Lambert (Director)