More people talking about change should expedite the process – though the realtor quotes in here are a little disappointing:
Real estate has traditionally been a game won or lost based on old-fashioned networking and shoe-leather style hard work — deeply dependent on timing, detecting trends and more than a little bit of luck.
It may not be that way for much longer, however. Big data is changing the way real-estate professionals, buyers, sellers — and even banks — think about transactions involving property.
On one hand, companies promoting services that plug consumers into big data real estate info are heralding a future of better education and insight. On the other hand, real estate professionals are questioning whether big data algorithms can replace the human-wisdom side of property sales. Other players have points of view on the changes underway as well.
Analyzing enormous swathes of information — much of it aggregated from disparate places and formats — big data proposes that accessing the patterns locked up in a myriad of real-estate info could remake the game.
And so, let’s look at five key facets — the people, organizations and trends — of real estate’s ongoing big data evolution.
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