Are you tired of endlessly scrolling through different real estate websites, trying to find your dream home? Property aggregation platforms are here to make your search easier and more efficient.
PropTech or known as property technology are gaining popularity. The prop tech industry is expected to reach a value of $64.3 billion by 2028, according to a report by Global News Wire.
This growth is being fueled by a surge in property tech startups, many of which are focused on developing innovative solutions for the real estate market.
The cloud, digital transformation, and technology convergence are advancing PropTech. Along with other goals, PropTech aims to improve efficiency, reduce costs associated with real estate transactions, and streamline property administration.
Blockchain technology is anticipated to help the safe infrastructure for smart contracts, tenant credit checks, and real estate payments.
Before we dive into the different platforms, let’s first understand what property aggregation platforms are.
What are Property Aggregation Platforms?
Property aggregation platforms are real estate websites or apps that gather property listings from various sources and present them in one place. It means that you can browse through multiple properties on different websites all at once.
In a nutshell, it refers to the app use of information technology (IT) in managing and purchasing real estate by people and businesses alike.
Investopedia's article showed that aggregator means a company that buys mortgages from financial institutions. Then secures them to create mortgage-backed securities (MBSs).
Aggregators might be divisions inside the main financial institution or the banks that issue the mortgages. It could also be brokers, dealers, correspondents, or representatives of another financial business. By buying individual mortgages at a discount and selling the pooled MBS at a higher price, aggregators make money.
So, property aggregation platforms come for people and businesses, and all the related parties in one place.
Why Use a Property Aggregation Platform?
There are various benefits to using a property aggregation platform. For one, you have access to a wider range of properties. Instead of being limited to a single website, buyers can now browse through properties from multiple sources. It can increase their chances of finding their dream property.
Here are some benefits of using a property aggregation platform:
- Access to a wider range of properties: When you use a property aggregation platform, you can access properties from multiple sources, not just a single website. This means you can browse a larger pool of properties and increase your chances of finding the perfect home.
- Advanced search filters: Property aggregation platforms often have advanced search filters that allow you to specify your exact criteria. Whether you’re looking for a specific location, price range, or any other feature, these filters can help you narrow your search and find the right property faster.
- Saves time: Searching for properties on multiple websites can be time-consuming. With a property aggregation platform, you can save time by browsing through a variety of properties from different sources all in one place.
- Convenience: Using a property aggregation platform is convenient and easy to use. You can access it from anywhere, at any time, and on any device, making finding a new property more convenient for you.
- Stay up-to-date: Property aggregation platforms often have up-to-date information on new properties that have just become available, giving you an advantage over other potential buyers who may need to be made aware of these listings.
Another key advantage of property aggregation platforms is that they can democratize the real estate market. By making it easier for buyers and sellers to connect, these platforms can increase competition and give transparent pricing. It can result in better deals for both parties.
Best Property Aggregation Platforms Worldwide
Now that you understand the benefits of property aggregation platforms, let’s look at some of the best ones worldwide:
1. Zillow
Zillow is one of the most popular property aggregation platforms in the US, with over 110 million homes listed. The platform allows users to search for properties by location, price range, and specific features such as swimming pools or fireplaces.
Zillow provides users with detailed information on each property, including photos, descriptions, and even a 3D virtual tour.
Founding Year: 2004
Location: Seattle, Washington, United States
Revenue: 1.958 Billion USD
2. Rightmove
Rightmove is the UK’s largest property aggregation platform, with over 1 million properties listed. The platform allows users to search for properties by location, price range, and property type.
Rightmove also has a handy feature that allows users to set up property alerts, so they can be notified when new properties are listed that meet their criteria.
Founding Year: 2000
Location: London, United Kingdom
Revenue: 332.62 Billion USD
3. Realestate.com.au
Realestate.com.au is Australia’s leading property aggregation platform, with over 4 million properties listed. The platform allows users to search for properties by location, price range, and property type.
Realestate.com.au also has a handy feature that allows users to track the performance of their favourite properties so that they can make informed decisions.
Founding Year: 1995
Location: Richmond, Australia
Revenue: 882.4 Billion USD
4. Strata
Strata make commercial real estate more accessible. It uses data analytics to find businesses with high potential returns. It then provides various investors with the chance to invest in these high-yielding properties with a low investment requirement.
Modern encryption technology is used to protect all investor information and funds. Strata is opening up the commercial real estate sector to investors with various levels of access to finance by allowing fractional real estate investments.
Founding Year: 2019
Location: Bangalore, India
Revenue: 36.2 Billion USD
5. Consorto
Consorto uses real estate analytics to give investors access to suitable commercial real estate properties. The software creates a customised search using information from investor parameters.
One of the platform's additional advantages is an automated deal flow mechanism that accelerates data sharing when investing in a property. On a smart dashboard, investors can manage several active deals and use them to submit requests as needed.
Founding Year: 2018
Location: Amsterdam, Netherlands
Revenue: >5 Billion USD
6. Melo.io
Melo.io access to real estate data is now much simpler. To accomplish this, companies can use the application programming interface (API) for their search engine.
Access to data from more than 900 sources, which are constantly being added to, is available through the Melo database. Their API is used by organisations like insurance firms, real estate agencies, and others who require information about real estate for various purposes, such as building a platform for listing properties.
Founding Year: 2020
Location: Paris, France
Revenue: 1 Billion - 5 Billion USD
Main Features of Real Estate Platform
Real estate platforms both websites and mobile apps have become essential parts for anyone looking to buy, sell or rent a property. So, the platform needs features that will help all parties. Here are some of the key features of real estate platforms.
1. Property Listings
The most obvious feature of a real estate platform is the property listings. Users can browse through hundreds or even thousands of homes for sale or rent, filtering by location, price, and other criteria. Listings typically include photos, descriptions, and specifications such as square footage and the number of bedrooms and bathrooms.
2. Neighbourhood Information
Real estate platforms also provide valuable information about neighbourhoods. Users can learn about local schools, crime rates, public transportation options, and other factors that can influence their decision to buy or rent in a particular area.
Some platforms even offer virtual tours of the surrounding area, including nearby parks, shops, and restaurants.
3. Market Trends
Real estate platforms also provide users with market trends and analysis. Users can track housing prices, inventory levels, and other factors that affect the real estate market in their area. This information can help users make informed decisions about when to buy or sell a property.
4. Virtual Tour Reality (VTR)
Virtual Tour Reality (VTR) is a relatively new feature that is changing how people shop for homes. With VTR, users can take a virtual tour of a property as if they were there.
VTR technology uses 3D imaging and virtual reality to create an immersive experience that allows users to explore every room of a property in detail. This feature is particularly useful for users who are relocating to a new area or are unable to physically visit a property due to distance or other factors.
Conclusion
Property aggregation platforms can save users time and effort when searching for their dream home, or investment. They can find the perfect property faster with access to a broader range of properties and advanced search filters.
So, as a business owner, you need to provide them with a platform that makes users easy to find properties.
Do you interest in building a real estate platform? VirtualSpirit Team is here to help make the process easier with the latest technology. With our experience and expertise, we’re excited to provide you with the best possible solution that meets your needs.
Don't hesitate to contact the VirtualSpirit team today!
