Problem

IMMO is focused on unlocking granular residential property by creating a suite of tools that allow investors to purchase assets with speed and confidence.

With over 40,000 new listings coming through each month, it would typically take an analyst 2-4 weeks to produce a comprehensive underwriting assessment of a property. Our goal was to create a tool that would be able to ingest leads from multiple online and offline sources, automatically underwrite the properties, and allow an analyst to quickly decide on whether an asset should be acquired.

Objectives

• Speed of Underwriting: Developed a sophisticated tool capable of rapidly processing residential property listings, significantly reducing underwriting time from weeks to hours.

• Market Coverage: Enhanced market penetration by aggregating over 40,000 new listings monthly from diverse online and offline sources, ensuring comprehensive market analysis.

• Lead Conversion: Implemented advanced algorithms for automatic property underwriting, leading to a higher conversion rate of leads into actionable investment opportunities.

• Increased Acquisition Rate: Streamlined the decision-making process, enabling analysts to swiftly identify and acquire valuable assets with greater confidence and efficiency.

• AI-Driven Automation: Integrated artificial intelligence to automate manual tasks, such as data entry and extraction, enhancing operational efficiency and accuracy in the property assessment process.

Process

We began by conducting user interviews with the teams across the value chain, mapping out their current process, understanding their frustrations, and conducting analysis to understand how long it currently takes the team to do the role.

After mapping out the requirements of the Acquisitions team, we created the concept of 'Profiles' that allow a user to establish the filter set they would like leads to be measured against to determine if a property is worth screening further.

Results

1. Market Coverage: Achieved over 95% lead market coverage in Germany.

2. Underwriting Efficiency: Cut underwriting time to approximately 90 minutes from 2 days.

3. Lead Conversion: Boosted converted leads by 60%.

4. Lead Ingestion and Data Extraction: Enabled online listing ingestion and employed Retrieval Augmented Generation (RAG) for efficient data extraction.

UI

A user can create a Market Profile, allowing them to select the areas they are most interested in purchasing property down to the neighbourhood level.

View leads that match the filter criteria in a map or list view to quickly browse potential investment opportunities.

Dive into a lead to learn more about the asset and view the returns.