Housing.com has managed to create identifiers for assessing physical assets. The company- which is backed by extensive data analytics- has come up with ways to present property details online which help users assess without actually visiting the site. All such information has been presented in a manner that is easy to understand and even the daftest of home buyers can easily understand the trends and conditions of the realty market in a city.
Housing.com not only allows searching properties but also completing their purchase. There is a home loan section dedicated to home buyers which offers all possible information about loan process. Someone who does not know anything about home loans can emerge an expert on the subject. The home loan guide provided by the housing portal breaks down all fine details about loans into simple and easy to understand text.
Then one can go on checking eligibility, comparing loan plans and applying from the same website.
How does housing.com make it easy?
Housing.com instead of riding the demand wave opts to address the consumer concerns. The founders believe that providing answers to the end users would automatically propel them into the market.
The whole process is knowledge intensive and requires massive extraction of relevant data and followed by analysis. The first step of this process is to identify the questions that the buyers and sellers need answered. Then frameworks have to be devised to extract answers to those questions. The process of extraction and analysis repeats itself.
However all this complex procedure takes place in the backend and the end users merely see the details which are easily understandable.
The Answers to the Unasked Questions
To understand this better, assume that a buyer wants to find 2 BHK flats for sale in Manikonda, Hyderabad city. Such a buyer actually does not just want to know about a flat. He/she also wants to know about the locality, the kind of amenities and other services available in the area. The buyer has a particular lifestyle in mind and wants to know whether that kind of life can be led in a particular property that he/she chooses.
It is difficult to answer such questions. Take the case of lifestyle. There has no way to quantify lifestyle because it varies from person to person. But the data scientists of housing.com have worked hard to identify the common factors affecting the quality of life associated with property.
Based on past behaviour of buyers, a mathematical model has been created which can accurately depict the “Lifestyle Index” of a property. Among all the 2 BHK flats for sale in Manikonda, some would be rated high on Lifestyle Index and others low. These scores are based on location, amenities etc. They have helped create a common standard which helps in identifying the overall “goodness” of a property without visiting it. Similarly users can look for various amenities near the property on the map.
Additional information on the trends in property in the locality are also exhibited in maps. Both buyers and sellers can learn about available inventory, average sales price, demand etc. of a particular locality. Housing.com also provides an estimated value of a property to help buyers and sellers negotiate better.
There is also a provision for home loans to complete the sale on the same portal.
Housing.com has used mathematics and technology to help buyers and sellers connect effectively across 11 major cities of India.