Why GIS technology stands out from the current Real Estate portals?

Entire cities, such as Mumbai, Hyderabad, and Delhi NCR are traversing the path of GIS as a part of the smart city and digitisation initiative by the government. On a macro level entire cities are getting on the digital maps, while on a micro level broker and appraisers are still beginning to experiment with this technology.

What is GIS technology? Geographic Information System (GIS) is a system that captures, stores, manipulates analyses, manages and presents spatial or geographic data. It is a huge domain which is within the broader academic discipline of geoinformatics.

As real estate is all about location and home search, GIS helps real estate sector to map and create a smarter analysed search which helps to deliver greater insight and take marketing to the next level. The advanced research led by consumers has prompted the real estate companies to use GIS applications. Such applications give a detailed understanding and insight which unfold as great opportunities and eventually successful business. ArcGIS software helps to create maps and gives geographic information that adds crisp details to the market knowledge with the best location-based data that assists consumers to better understand the factors and methods that lead to the growth of both consumers and developers.

GIS can be used to differentiate between developed and developing areas. It can ascertain cost and time of transportation and housing, which can help ascertain the potential areas which can be acquired. It can also determine the liveability of a location by showing amenities around the area, such as hospitals, schools, colleges, etc. Such data can be helpful while selecting a location.

GIS VS current real estate portals:

Most consumers use real estate portals as they work as an online broker for them. For real estate professionals, these portals generate leads, bring more tenants and buyers that eventually helps them in closing deals. However, a GIS technology can do so much more. GIS differs from current real estate portals because it offers more insightful data as compared to the simple data derived from these current portals.

• GIS transforms a simple spreadsheet into a data-driven map which simplifies the decision of a buyer as it maximizes the site selection, marketing and tenant management returns.

• GIS applications instantly understand market opportunities and offer an advantage from such opportunities. Dynamic features, such as mapping and spatial analysis are amplified which is brilliant to understand consumer’s buying decisions.

• GIS also helps to develop interesting and beautiful graphics on the realtor’s websites that increase the interaction of the buyers and differentiate the websites from its competition.

• Real estate portals are not as advanced as GIS as this new application allows and improves collaborations across the real estate business. As this step improves, there are best and most profitable business decisions taking place.

• As GIS is all about location and geographic information, it is the fundamental step in real estate business.

Real estate portals are beneficial for realtors who are looking for tenants to buy properties in the vicinity. GIS can add further leverage as it not only merely displays properties in the vicinity, but also provides deep analytics around different micro-locations. Real estate professionals can target properties to match their exact specifications and deliver the answers needed to make the most intelligent choices.

Real estate brokers and appraisers make use of GIS to accurately analyze commercial and residential properties through data, such as demographics, merchandise potential, traffic counts, shopping centre usage, aerial photographs, and competitive influence. Commercial firms such as Starbucks, McDonald’s etc use this data to select new locations for their growing businesses. Location matters more than ever and GIS gives real estate professionals the information they need to make profitable decisions.