Real estate management firms, brokers and private lenders have witnessed the rise of Proptech, which has encouraged them to adopt new technologies and revised business models that substantially can enhance market insights, customer relationships and operational efficiencies.
Artificial Intelligence-based tools can help commercial real estate organisations with these challenges. Roughly one third of CRE organisations are already using AI, however the majority of real estate firms “have yet to achieve a deeper understanding of how to use these technologies effectively,” according to a report by Deloitte.
BlackSwan Technologies’ ELEMENT™, a cloud-based, AI-powered platform trusted by leading organisations around the world, enables corporations to create applications that:
- identify attractive property acquisition opportunities
- provide real-time market/risk alerts for nimble responsiveness
- personalise targeting and interactions with buyers, sellers and brokers
- accelerate the deal-closing processes
Each application is tailored precisely to the strategies, processes, and technology infrastructure of the firm deploying it. ELEMENT’s business user-centric interface means that control and customisation of the application – e.g., data integration, workflow orchestration, insights created through data visualisation – shift from the IT group to core business departments. Thus, you don’t require data science and engineering specialists to benefit from AI today.
Below are examples of commercial real estate use cases where deploying ELEMENT™ provides exceptional value.
Identify property acquisition opportunities
A clearer view of your market to spot prospects
ELEMENT™ enables companies to use an automated discovery engine to build profiles of properties and identify the likelihood of an asset going to market. AI evaluates multiple inputs such as demographic data, local services and economic trends, traffic and commute times, sentiment of people living in the area, and more, to determine if a specific property or an area is likely to see growth in value. The discovery engine can encompass extensive success factors you select – and self-identifies additional factors – to identify attractive properties in minutes. Advanced data visualization can help investors to assess market opportunities at a macro-level, comparing regions.
Real-time market alerts
Capture and assess data in real-time to help with due diligence and reduce risk
ELEMENT™ employs a combination of AI approaches, including machine learning, link analysis, and a rules-based engine, to assess the real-time risk level in a certain region and alert management firms and funds that focus on property acquisition and management. ELEMENT™ can combine data on changing legislation, large transactions and existing development plans. In addition, based on inputs from adverse news, social media and industry publications, it’s also possible to capture changing sentiment. Property owners can monitor and automatically interpret news and sentiment about tenants and companies involved in the property chain, as well as their ability to pay amounts due. Together, these data inputs, analysis and alerts can provide immense value to real estate organisations, making their screening more comprehensive and proactive.
Personalise marketing interactions
Tailor your offerings by prospect segmentation and distinct preferences
ELEMENT™ can be used to recommend properties for sales people and brokers to buy or sell, based on their selling history and strategy. In addition, natural language processing (NLP) can help specific agents to prequalify their leads to reduce the inefficiencies of interacting with buyers who will not be interested in the listing. This is particularly powerful for private equity firms and others that are pitching properties, portfolios and investment structures to high-net-worth individuals.
Automate and accelerate the deal-closing process
Reallocate time to high-value decisions & relationship management
In times where the global economic and health environment may limit deal flow and profitability, it is critical for real estate firms to focus on operational improvements. ELEMENT™ can make the acquisition and sale of assets more efficient, especially during deal underwriting and closing. Automated data collection and vetting of buyers and sellers using public information sources can speed up documentation compilation during the acquisition and lending processes, while ELEMENT’s machine learning capabilities assist with document-reading to extract facts and terms from contracts.