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Big Dreams and Big Data: The Key To Agorafy’s Future

If your dream is to make money in real estate, then data technology is essential to your success.

By Richard Du December 1, 2016

Google is a complex and vast universe, and like everything, it has its pros and cons. We love and appreciate it, but at times, the search engine makes us feel overwhelmed. Why? Because searching for something on it can become a total adventure, or not. There is conjecture, opinions, tangential conversation and before you know it thirty minutes have elapsed. What if there was one site where you could find exactly what you needed?

In real estate, it’s the same way. A search for a property in a certain neighborhood can be frustrating. Usually essential information is missing or inaccurate — square footage, number of bedrooms, asking price or whether a property is still even available.  How do we combat this deluge of inaccuracy? One word. Data.

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Data doesn’t lie because it’s factual. It’s the reason why Amazon is so successful. People trust they can go there to get what they want. If they are after a book, bicycle or balaclava, they can type in the name, find the product, see the price which they trust to be competitive and hit the “buy” button. Fortunately for us, Amazon isn’t in real estate (yet) so Agorafy can perfectly, through data, bring the same peace of mind.

This is what Alibaba CEO Jack Ma described as the second phase of the internet, being more data specific, establishing trust and giving the user exactly what they need. Recently he even discussed how data — or big data — as it’s known could help police crackdown on terrorism by being alerted every time materials are purchased with a short time span of one another that could be used to build a bomb. In a recent conference in Hanover, Germany he showed how facial recognition technology could both increase security and streamline the online buying process. At the same conference, he stated:

“The future world will not be connected by oil but by data. It will be a consumer to business world. Business won’t focus on size or power but on flexibility, nimbleness, customization and user friendliness”.

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That’s is crucial for us at Agorafy. It’s why we’ve invested so heavily in a data team which is constantly compiling information about properties and even taking photos and using them where before the user may have one grainy poorly shot picture to go on. Real estate is all about making money. How can someone make an accurate decision on a property if the data itself is inaccurate? It has a direct correlation to profit. Accurate data is essential town home buyers who aren’t able to come and physically see the property they are interested it. The internet is their only source of information. If they are using a broker, of course he/she wants to try and sell the house, so they may present a slanted opinion. If your dream is to make money in real estate, data technology, the kind that is and will be a core component of Agorafy, will be essential to your success.

As Jack Ma put it: “It’s not the technology that changes the world, it’s the dreams behind the technology.” Our dream? The be the most trusted real estate website in the world. And data holds the key.

Richard Du

ABOUT THE AUTHOR Richard Du

ABOUT THE AUTHOR Richard Du

Richard Du, founder and CEO of Agorafy, was born in Vietnam and raised in the United States. As a child, he worked to support his family until he had the chance to immigrate to the America. Here, he began his career as an agent at Helmsley Spear, which he eventually parlayed into a lucrative real estate business. More than a decade later, Mr. Du is at the helm of Agorafy.

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