The problem we’re addressing
The current property datasets utilised by most of the residential proptech sector are missing key Energy Efficiency Property Attributes. This is barrier not only to our own property and market insights and new commercial opportunities but also to real estate sector and householder awareness. (see CSIRO Research)
Energy efficiency property attributes in proptech encompass one, or all, of the following scenarios:
Wrongly labelled.
Ambiguously labelled.
Missing
Hidden in with other unrelated features.
Represents a range of data quality – from low to high verification
In the absence of a data field, the information may appear in the free text fields.
Timing: It’s so important that this property attribute “clean-up” and “reset” occurs prior to the arrival of Home Energy Ratings into the property technology and marketing processes and customer experience touchpoints.
Cross-Sector Alignment
A consistent energy efficiency data set across the property ecosystem.
Finance, lending and valuation
Property data and insights
Perception of value and property market
Property appraisal and customer experiences
Skills and training - energy efficiency literacy
Property upgrade and capitalisation pathways
Research and Governance
Home Energy Ratings + Energy Efficiency Features
Home Energy Ratings and Energy Efficiency Features need to work together as they represent both the Rating INSIGHTS and the ACTION the rating is seeking to catalyse – a list of property features which will deliver an energy performance upgrade.
The Property Marketing and Property Technology sectors utilise the short-hand language of “features” and iconography in property listings.
This “language” has been developed and finely honed over the years to address the exchange of property information during what can be called the “real estate-moment”.
This moment is highly emotional, highly competitive and time sensitive.
The power of “the real estate moment” to anchor particular property features in the mind of the consumer as “valuable” or desirable should not be underestimated. In addition, this “features” language, combined with the “opportunity” narrative in real estate, is a key point of influence in the direction of property upgrades.
There are two fundamental “truths” that exist within the property market.
Certain property features are more attractive than others at point of sale or rent.
You need to capitalise (upgrade) your property to maintain its’ “value” in the market.
Real estate agents use “features” in their property marketing services and in so doing are hugely influential in linking perceptions of value to particular property features. They “direct” the way a property is “seen” when it is on the market by showcasing particular property features and not others.
As a consequence of this treatment some property features develop a currency all of their own, such as “European appliances” and “Caesarstone benchtops”. Conversely, when they are not visible, they are not valuable.
When a trusted set of energy efficiency features are available in the listing portals, CRM’s and marketing and campaign technology utilised by agents then it enables these features to become VISIBLE and to represent better quality data.
As a sector, our property platforms and solutions underpin the whole property lifecycle and enable property professionals, businesses and consumers to engage in every touchpoint of the property journey.