UAE-based real estate startup, houza, has just announced the launch of a property trends and transaction data tool for home hunters in Dubai. Leading the country’s proptech sector, houza looks to leverage transparency and transaction data with this new product to uplift buyer experience.
The service is part of houza’s partnership with REIDIN Data Analytics. Houza’s COO, Sebastian Ritter, and CTO, Aziz Bookwala worked closely with REIDIN’s team to develop the tool.
“Being the first portal in the region to provide transactional data to consumers is a massive step forward in achieving transparency, a key mission at houza.
“When it comes to such a large commitment of moving home, consumers are sometimes reluctant to trust property prices delivered to them by agents.
“Giving the consumer the sold house prices data first-hand facilitates the buying and selling process by breaking down that barrier between the agent and the seller, or buyer. The fact that REIDIN’s data comes directly from DLD speaks for its legitimacy and impartiality.”
The tool works like this: properties listed on houza.com will come equipped with the last five transactions completed on similar properties in the same community. Buyers and renters can also find the latest price trends on houza’s platform based on criteria like area, property type, and size over the last twelve months.
On the other side, sellers can compare their selling prices against these same trends to make sure they’re offering the best price.
“Our data is there to augment the consumer experience and bring to life what the agent’s advice to them is. After all, buying or selling a house is a personal interaction that requires in-depth knowledge of communities, which can only be honed through experience and offered by the agent.
“The beauty of the data feature for agencies is that the buyer or seller when referred through houza, will already have this insight and therefore a better-aligned view of the market. Managing expectations is often half of the process, so the time and effort taken in reaching a deal that everyone is happy with is effectively reduced.”
Houza CEO Barry Judge explained:
“We want our visitors to be empowered to make informed decisions based on transparent and trustworthy data. Therefore, we’re thrilled to combine our resources with REIDIN to bring a higher degree of openness and transparency to the buying, renting, and selling experience.
“It’s a leap forward for houza, with the launch of price drops and price alerts in quarter four last year, and now the addition of trends and transactions, we are fast-establishing ourselves as a portal that genuinely wants to solve consumer pain points.”