Breaking Property News – 19/03/24
Daily bite-sized proptech and property news in partnership with Proptech-X.
Reimagine the Built World at CREtech London on the 8th & 9th May 2024
Welcome to the future of the built world! No other conference brings together the world’s leading technology providers, real estate companies, government officials, advisory firms, and venture investors like CREtech London. You won’t want to miss this extraordinary journey into the future of the built world at the intersection of innovation, sustainability, and real estate.
And Proptech-X as the official media partner for this event fully endorses this collaborative event, where networks are formed and strenghtened, wisdom is gained and the impossible suddenly becomes the ‘norm.’ If you want to be in the crucible of what is really happening in the built world environment then book 48-hours out of your diary, get along and meet Michael Beckerman and old and new friends, as we guarantee that the return on investment will propel you through the next year and beyond.
As the industry evolves, so does CREtech. With an emphasis on the real estate companies and development projects that are outperforming the industry, CREtech London offers a blueprint of how the built world must evolve to meet today’s extraordinary marketplace challenges.
The Only Must-Attend Real Estate Event in 2024
CREtech London 2024 will gather 2,000 real estate professionals to network, experience, and learn about how innovation and technology are transforming the built world. This year, expect to share the room with some of the biggest names you never thought you’d meet, including landlords, developers, occupiers, tech providers, investors, service providers, government, industry thought leaders, and media.
A Speaker Lineup You Can’t Afford to Miss
Only at CREtech London will attendees find unique, and powerful speakers delivering leading edge content to foster innovation, drive productivity, and enhance your sustainability initiatives. In 2024, less is more at CREtech London. Expect fewer speakers and panels and more fireside chats, TED talks and next-level presentations that will leave you feeling inspired.
CREtech’s Mission
CREtech is Reimagining the Built World. We are the largest international community of professionals devoted to technological innovation in the real estate sector. Our mission is to drive tech adoption and innovation in the built world by organizing two large-scale conferences annually in New York and London.
Empowering estate agents with data-driven insights
One of the only constants within the property sector is change. In the ever-evolving world of sales and lettings, where market dynamics shift on the back of a penny, staying ahead requires more than just traditional methods. While property marketing in the past was more art than science, in today’s market there is a transformation in the way that properties are marketed, with data analytics emerging as the cornerstone of success.
Data-driven insights are not just a buzzword; they are a game-changer for estate agents across the UK. The property sector is among the most competitive industries, so having data that can provide an edge and set an agent apart from their competitors and glean insights is crucial. From identifying trends to understanding buyer preferences and pricing properties competitively, harnessing the power of data analytics is essential for driving effective marketing strategies.
Richard Combellack, Chief Commercial Officer at nurtur.group, emphasises the crucial role data plays in shaping the success of agents, saying, “By leveraging advanced analytics tools and market insights, agents can gain a competitive edge, optimising their marketing efforts, and maximising their ROI. The best agents are those that understand all the factors impacting the market and how this influences vendor and buyer behaviour. What was true a few months back, may not be in the today’s market, so it is important have access to data that provides an accurate picture of the current market, which will help agents to make informed decisions and provide expert advice.”
He adds that one of the primary benefits of data analytics in property marketing is the ability to identify trends accurately. By analysing vast amounts of data, including sales figures, demographic information, and market indicators, estate agents can pinpoint emerging trends in specific areas, enabling them to tailor their marketing strategies accordingly.
“A prime example would be a platform such Fee Street that analyses property data and identify streets and locations with the highest propensity to move, pinpointing areas with the most frequent property sales and the highest fee potential. This information allows agents to focus their marketing efforts and target locations that could result in the most income for the business,” Combellack comments.
Understanding buyer preferences is another area where data analytics shines. By analysing consumer behaviour and preferences, agents can create targeted marketing campaigns that resonate with their target audience, ultimately driving higher engagement and conversion rates. Data makes it possible to personalise marketing campaigns and create pinpoint customer segments that offer customers the right service at the right time.
“Data around behavioural activity and preferences is effective when advertising on social media platforms. Data can be used to identify and engage with segments of the market that are particularly interested in the types of properties and services your business offers. Leveraging a tool such as Facebook’s ‘lookalike audiences’ feature can then significantly amplify your reach, connecting you with users similar to your target clientele,” adds Combellack.
Moreover, pricing properties competitively is essential in today’s competitive market. Data analytics empowers estate agents to accurately assess the value of properties based on various factors, including location, amenities, and market demand, ensuring that properties are priced appropriately to attract buyers while maximising profitability for sellers.
Incorporating data-driven insights into property marketing not only enhances the efficiency and effectiveness of marketing efforts but also improves the overall customer experience. By delivering personalised experiences tailored to the unique preferences of each client, estate agents can build stronger relationships and foster trust, leading to increased client satisfaction and loyalty.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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