Informed Real-Estate Services: Leveraging Web 2.0


Informed Real-Estate Services: Leveraging Web 2.0
Given the economic regression and the current estimations for high risk Real Estate (RE) investment opportunities in Greece, successful RE business must be very asset specific and make use of advanced, evidence-based decision making. Location-based context - along with the property characteristics - is recognized as a critical success factor for strategic business decisions. Existing electronic services (e-services) and applications are targeting purchasing or rental advertisement of properties based exclusively on their intrinsic characteristics, without offering any assistance to professional or individual retailers in assessing the positive (proximity to playgrounds, schools, dynamic local cultural relations, stimulating social interactions, etc.) or negative (air and noise pollution, traffic congestion, high criminality rates, etc.) location-related externalities of a particular property. Moreover, although valuable user added information relevant to the location or social context of a property is available in various Web 2.0 sources (in the form of Points of Interest, social annotations/posts, maps, etc.), advanced real estate business models and innovative e-services are still in their infancy. RealEstate2.0 aims to bridge this gap by delivering:
  • Advanced e-services for RE professional and individual retailers such as Personalized access to Properties, Intelligent Property Analysis using location context and Real Estate Analytics over time and Reporting.
  • A generic infrastructure for harvesting, extracting, aggregating and curating contextual RE information from administrative, touristic or social media sites.
  • A high-quality RE data pool for advanced RE business scenarios.
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Yannis Stavrakas

Athena Research Center Management of Information Systems (IMIS) Foundation for Research and Technology-Hellas (FORTH) TREK Consulting RE/MAX Elite