New hotspotting software
New software that is able to map investment return down to a specific house level has emerged on the market. However, it’s currently in the hands of a real estate agency.
In a bid to put themselves ahead of their competition for investors, Sydney-based mcconnellbourn real estate agency has developed new exclusive software, dubbed ‘Hot Spotting’, which includes an innovative mapping process.
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Matthew and Samantha Bourn of mcconnell bourn explained that having this software allows them to use their data more effectively to provide information to investors.
Mr Bourn said the database holds very specific information about individual houses and streets across the marketplace over a period of time, allowing agents to find exactly where the highest activity is.
Other agents and agencies will have access from next year. However, it isn’t clear whether it will become available to the wider investor community.
“This software means increased productivity and a greater focus on a specific area. It allows the agent to zero in on a target market, creating a better return,” Mr Bourn said.
The software includes data from RP Data, Price Finder and listings websites.
