Development of a digital service for real estate transactions

Abstract

The majority of present-day aggregators of the Russian real estate market fail to meet modern requirements and trends. Currently, the information support of real estate valuation activities is generally assigned to individual values, rather than the valuation community as a whole. The absence, insufficiency, unreliability of the market information makes it difficult to determine the cadastral value of the properties as well fulfill the requirements prescribed by the existing methodological recommendations. The main problem in developing digital platforms is that the value of the digital platform proposition can only be adequately assessed by the platform developer, while the complexity of creating a quality digital platform may exceed the benefits for the developer. In this regard, we set a goal to analyze the aggregators of the real estate market in terms of the shortcomings, whose systematization is to lay the basis for a consolidated real estate market database of Russian Federation. In this article, selected digital platforms were analyzed with regards to meeting specified criteria using a multi-criterial rating system. The results of the study represent the necessary criteria, conclusions concerning compliance with certain criteria based on the analysis of classifieds, as well as recommendations for the use of innovative technologies to ensure the most advanced operation of real estate market aggregators. In addition, several forms of information exchange between market players and viable solutions to common problems are suggested. A method of developing a consolidated real estate market database was developed. It is based on innovative information technologies and the actionable way of implementing software solutions designated for automation and structuring of real estate data.