Get Ready for the Revolution in Real Estate for Trinidad and Tobago
Ready for the official app sneak peek during Global Entrepreneur Week on November 15, 2023, at 10am local TT time? We can’t wait to share what we’ve accomplished since July/August when we first embarked on this journey. Our journey has been full of pitfalls – exploring what the market offers: outdated listing sites, double listings, extreme ranges in pricing, shady landlords/owners and ancient PAPERWORK! On a brighter note we used our own customer journey to eSign the company’s first digital lease and get first-hand accounts of the pain points agents are experiencing. We’re on the ground and taking nothing for granted.
A Solid Real Estate Listings App
Our real estate app is seemingly a typical real estate app similar to Zillow or Redfin. Clients can easily conduct advanced searches for listings and agents alike can keep the new listings loaded into the system via your agent portal. But…there are two buttons that are key to something phenomenal for Trinidad and Tobago’s market – a market that has little visibility and transparency into its movements or its customers preferences to properly develop for them.
Why We Built The App
Before we jump into the super secret sauce of the app, we wanted to discuss our why. Firstly we wanted to tackle the problem of lack of transparency in pricing and crime trends. We found wide differences in pricing of comparables even in areas challenged by crime. There were many price drops in rentals and sales prices during a global market that has been very robust. This is a multi-faceted problem that results in terribly inconsistent pricing and confused buyers with over/under confident sellers. Without a central driving force providing transparency with reliable data to inform customers and agents alike, the market will be quite lopsided and potentially unfair.
Secondly, with the rise of crime in TT we wanted to empower expats and locals to be guided with TTPS figures on crime in the various regions. Although the public information is not segmented by neighborhoods, over time we should be able to refine our models for granularity. For now, we use a rating system segmented by regions of lowest incidents, moderate incidents and investigate further (for the highest concentration of incidents). We are careful not to deem any neighborhood as problematic or use disparaging remarks.
Some of our other motivations were the difficulty in accessing properties when conducting our own searches to relocate staff to Trinidad. We were very disappointed with the lack of investment in the real estate search sites, the abundance of properties listed by multiple agents at different price points and the gap between the amazing professionalism of the agents we encountered and the limited tools available for them to excel.
What the App Sneak Peek Looks Like
We can’t give away all of the secrets, but we have developed a super power by combining the simple buttons “I’m Interested” and “I’m not interested” with a robust AI learning model to analyze, predict and streamline the entire sales and rental process. Let’s explore some solutions we’ll share in our app sneak peek at the HomeMatchTT App PreLaunch:
- Regional Crime Ratings – Depending on the region the neighborhood falls in, there is a rating on crime activity.
- Price Value Rating – Is the pricing a good deal? Is the price high? Trending up or down? We are busy compiling data to let loose our algorithm to make shopping easy for users.
- AI Matching – The machine learns how to predict what a user wants (pricing, location, amenities, etc.) better than using search functions because it measures our users actual behavior, not just the fantasy of what they like.
- eSigning & SecureID – We aim to make the process safe of showing homes by prequalifying customers and reducing the need for you to be present through eSigning and digital documents
- Robust Messaging – Most of the interactions and conversations are within our messaging eliminating the need for emails, with tools baked into the messaging app to speed along the rental and sales journey.
- Data & Analysis – within a year of the app operating we will be able to produce industry reports on market pricing changes, development opportunities, humanitarian trends and forecasting problems.
Do you know with all these great ideas and problem solving we still are not at the finish line? There’s only one way to get there – that’s with you! We are inviting all agents, brokers and real estate agents to the app sneak peek prior to our beta launch. We wish to amplify with the voice of those who need our app most – you. Your input, feedback and support is vital to ensuring this tool exists to service your market in every way you need it to and we’re here to incorporate your vision.
