Real Estate Market Analysis and Monitoring Tool
Working in a dynamic industry like the real estate sector keeps professionals on their toes; the better understanding of market trends, the greater number of deals closed. Hence, a leading real estate agency approached Scalan Labs to create a CMA-based(Comparative Market Analysis) for real estate and a monitoring application for their agents.
The client emphasized on the need to build a scalable software that can process and analyze huge loads of data in real-time and provide agents with actionable insights for cracking the best deals and getting an overview about real estate market trends.
The Scalans experts started off by designing a comprehensive dashboard which gives first-hand information about property details, price listings, cash flows and other transactions, status of sales deals, and so on – all in a visually appealing interface. Separate tabs were incorporated for searching and comparing properties with regards to demographics, market value, profitability, rent, size, etc.
Two attractive features include heat maps and interactive maps for perfect data visualization. Also, the app has built-in accounting tools including multiple calculators that help in preparing timely financial reports about the agency’s business progress..
Technology: Node.JS, Express.JS, Web Api, PostgreSQL, Stripe Payment, AWS SES, S3 bucket
The application became a one stop market analysis tool for real estate agents – they could easily identify the most feasible deals, understand how market factors work, track price fluctuations and accordingly adopt the best strategies.
The agency registered a four-fold business growth within a year of using the application. Their sales deals increased and agents reported greater efficiency and productivity. By analyzing the data captured by the app, the client could take better informed decisions, thus reducing financial risks.
“If you don’t innovate fast, disrupt your industry, disrupt yourself, you’ll be left behind.” – John Chambers, CEO of Cisco
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