Pilot study of the KTI data model in transaction process
In its experimental project, RealX.pro tests the data model that KTI has defined for real estate investment and management in a transaction process.
What kind of problem is the project trying to solve?
Gathering the information required for the sale of a property typically takes weeks of work for both the owner and the agent. This results in direct costs, prolonged selling times and increasing amounts of questions and risks regarding the accuracy of the information.
Objective: Practical test of the data model for real estate investment and management drafted by KTI
In the experiment, the data model that KTI created in a previous KIRA-digi project will be put to practical test.
What is done in this project?
In the project, the real estate investment and facilities management data model determined by KTI will be put to practical test by creating an open interface between the RealX.pro and Assetti systems to transfer property information.
After the definition phase carried out in collaboration with a client and a partner, the functionalities supporting the interface will be implemented on both systems. After this, the data model will be tested on sales assignments agreed upon with the client.
What are the expected results of the experiment?
The objective is to achieve cost savings. The direct benefits achieved will be thousands of euros per property transaction. As a result, the property market will become more liquid.
The project will enhance our understanding of how information was collected and transferred before, and what kind of time and resource savings can be achieved in the transaction with the help of the project.
As a result of the project, the real estate investment and facilities management data model determined by KTI will have been tested and can be used in the transaction process. The results will further boost the more extensive implementation of the model in the real estate sector.
All interest groups involved in the transactions on commercial properties will benefit of the results: the investors, agents and financiers.