Figure 6: A tool for “on the go” suggestions for matching
properties.
5 CONCLUSIONS
This real estate portal will bring forward an
exceptional experience for the stakeholders of this
domain in order to select, manage and handle
properties. The strength of the recommendation
system and the accurate user profile building are the
core components of this portal. The next step to
evaluate the impact of Estatech Maps is with the use
of AI and ML algorithms (Syam and Sharma, 2018;
Shahhosseini et al, 2019). Machine learning
approaches for real estate can be categorized based
on specific objectives, including: finding the market
value of a building, predicting long term value
(LTV) of new listings, predicting value of property,
classification of seller score, predicting time to
close, effective lead management.
Prediction making systems in the real estate are
in developing stages and machine learning
algorithms which can be utilized for the purpose of
predicting the current and future prices of the
properties are: ANN, support vector machines, k-
nearest neighbours and regression trees (Ottomanelli
et al, 2014). Specifically, our system can be further
enhanced by the use of Artificial Neural Networks
(ANNs) which are beneficial in developing input-
output relations, acquiring data from existing real
estate statistics, the model proposed to be used for
evaluation is KERAS model which is a high-level
neural networks API written in Python. The
capability of this model can be very beneficial in
complicated systems like real estate where rationale,
perceptions and existing resources do not tend to
obey coherent course of actions.
Whereas machine learning approaches for real estate
can be categorized as: finding the market value of a
building, predicting long term value (LTV) of new
listings, predicting value of property, classification
of seller score, predicting time to close, effective
lead management are some of the approaches which
can be effectively determined. Similarly, the ethical
and privacy issues implementation are left for future
work.
ACKNOWLEDGEMENTS
This research was supported by the Higher
Education Commission (HEC), Pakistan under grant
no. TDF03-249. The authors gratefully acknowledge
their support.
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