About The Real Estate Group

The Real Estate Group (TREG) "Partners in Excellence"

The mission of The Real Estate Group, LLC is to be Hampton Roads finest provider of real estate services. Our goal is to create a company that provides absolutely the best service for our customers by fostering an environment of teamwork and a common vision. The Real Estate Group, LLC consists of an accomplished team of skilled professionals who take pride in their work and their company. We work hard to go beyond the expectations of our customers, agents, and employees.

5 Ways Big Data Is Changing Real Estate

Every facet of the business world has been radically changed by the way data is collected, analyzed and transmitted.

So much so, that past models of how major industries were run have now become largely obsolete. Data analysis is considered the “gold standard” by which companies look at the future.

To some people, this approach seems cold or overly “corporate.” However, it gives businesses and clients a direct advantage when finalizing transactions within an increasingly short period of time. This is because much of this “big data” is collected in response to issues as they occur.

Large amounts of information are compiled so that trends can be closely studied. Facts and figures are dissected, as if they were subjects in a scientific experiment. At that point, vital bits of information can be expertly chosen and designated for further investigation.

Finance
In the world of finance, the use of big data has made a significant impact on the methods in which purchases and investments are made. Nowhere is this more evident than when financial institutions look into real estate investments. By surveying trends as they form in data pools, decisions are made as to how banks can reduce their own risk. With their own financial risk lessened, commercial banks are therefore able to pass along favorable rates to their own clients.

Banking
Big data assists banks in understanding the needs of their customers. As data is closely scrutinized, ideas often emerge, helping banks to better direct their marketing efforts to groups that might otherwise be underserved by their financial institution. This is true for their customers who merely want to open a basic checking account without fees, as well as necessary for major clients who require additional tools to manage their wealth.

Sorting through this data also works so lenders can better adhere to state and federal regulations. Experts in risk management are able to look at just how customers use services not only in past endeavors, but in real-time transactions. This analytical awareness of financial models is the key to reducing and eliminating electronic fraud.

Real Estate
Banks are able to use this data wisely, especially when it comes to the purchase of real estate and how it is insured. Data gives out distinctive clues as to how new homebuyers, start-ups and business owners looking to purchase commercial property will further their investments. This is crucial before extending a risky loan or in cases where similar investments have failed in the past.

For more info on the ways big data is changing real estate, please see this full article on RISmedia.com by clicking HERE.

About The Real Estate Group

The Real Estate Group (TREG) "Partners in Excellence"

The mission of The Real Estate Group, LLC is to be Hampton Roads finest provider of real estate services. Our goal is to create a company that provides absolutely the best service for our customers by fostering an environment of teamwork and a common vision. The Real Estate Group, LLC consists of an accomplished team of skilled professionals who take pride in their work and their company. We work hard to go beyond the expectations of our customers, agents, and employees.