Increase your profit with dynamic pricing
Leverage data science to dynamically price your residential real estate to increase profit.
Do you still price your units in Excel?
Time-consuming price updates
Every price update is very time-consuming
- it’s hard to achieve uniform selling of layouts → unable to capture demand evenly
- it’s impossible to react to new information immediately
Lack of data
The internal data sets aren’t aggregated and the market data are hardly available
- the data sets of the company are disparate and hard to work with
- the data about competitors are only used superficially
You’re constrained by the human factor
- you can’t clone your top analysts’ → multiple projects mean losses
- you lose company know-how when top employees change jobs
The spreadsheet model is simply not complex enough
- it’s impossible to work with big data mimicking the complexity of the real estate world
- more complex patterns are ignored
Dynamic pricing provides your company with key benefits
Saving time otherwise spent in a spreadsheet
Organizing both internal and external data
Automating unnecessary manual tasks
Determining the price list and its updates are the most crucial aspects of the sales cycle. Gain an upper hand by implementing BuiltMind.
By leveraging dynamic pricing, you equip your sales department with an AI solution drastically changing the way they work.
Understand what creates value
In the current status quo – a linear spreadsheet price list, the developer usually uses a legacy pricing scheme to determine the price list. This scheme is many times dated and does not consider the complex market intricacies. By providing you with the specific price parts of the units, you’re able to understand and review the new price list much easier.
Don’t rely on intuition, use AI
When pricing residential units in a spreadsheet, it’s typical to only consider the most important parameters of the units such as their floor area, exterior area, floor, layout, or orientation. With BuiltMind you gain a much broader understanding of more than 100 different parameters including complex location parameters, views, or liquidity.
Leverage internal and external data
To determine the price list the responsible person would generally spend days trying to aggregate the required data. The manager needs to spend hours reviewing multiple spreadsheets, floor plans, reviewing competitors, and crafting other materials. At BuiltMind we provide you with a seamlessly integrated platform to manage these data together.
Forecast your performance
Determining the prices is only the first step – in the second step it’s crucial to understand the time it will take to sell the units. The company needs to understand the expected price increases during the sales cycle and optimize for the uniform sales of layouts. Otherwise, it risks losing potential customers in later stages and hence losing additional profit.
Capture your lost profit with BuiltMind