The Expanding Universe of Real Estate Data

Data has made its way into almost every aspect of our lives, and real estate has not gone untouched. Whether it’s negotiating a lease or evaluating a ground-up development, the data used by real estate firms has become a crucial driver of their business decisions.

However, real estate data is no longer limited to lease comparables or historical building information. An expanding universe of real estate data is rapidly changing how firms analyze their real estate decisions, providing a significant competitive advantage to the firms that can adopt these new types and data sources.

Property level data

Property-level data has historically been one of the most common data types in the real estate world. For example, most asset managers know how many vacancies their properties have and how much money was spent on the most recent remodel. While this information is great to have, it doesn’t tell the whole story, leaving a lot to be desired.

The movement toward smart buildings has introduced new opportunities for asset managers and property owners to collect real-time, accurate data about their properties that can help answer several questions that were once difficult (if not impossible) to answer.

The use of intelligent building systems, for example, allows for the creation of data related to energy usage and the potential for optimization across an entire property. Smart HVAC systems can automatically adjust temperature settings to improve tenant comfort while simultaneously conserving energy. Space occupation sensors can track the usage of spaces throughout the property to aid decisions on maintenance and

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