The majority of us who have been looking to buy a property in the last few years will at some point, have conducted our property search on the web. Online property search has advanced immensely since 2000, largely attributed to surging internet adoption rates and the pace of internet technologies such as Web 2.0 which are taking huge steps towards property search utopia. Adam is joined by Ed Freyfogle of Nestoria.es
, the latest spin-off of Nestoria.co.uk
a property search website which launched online just last summer intially covering the London property marketplace.
Ask yourself this, when you search for properties online, do you really value the time you spend searching for the ideal property?
Nestoria believe the process can be made easier and are working towards intelligent property search engines that learn from their users to help improve the search experience for each and every user, constantly serving up an improved property search offering.
Ed believes that there are 4 critical factors that go into creating a great property search experience:Comprehensiveness of listings
Does the site have enough properties to give the fullest offering?
A clean, fast, simple interface, that is intuative will create user stickiness.
Properties on map and lots of relevant info help to give a user the fuller picture.
Does the user find what they are looking for?
Are the properties shown actually for sale, many listings don't get updated by an agent.
Comprehensiveness or as some in the industry call it "Number of Properties" is the metric measured by much of the industry as a sign of a sites weight, but is it a misnoma. Nestoria have 600,000 properties in their database and yet only 450,000 are actually available to the user with a staggering 25% being duplicate entries and SPAM. Surely this is another case of measuring the wrong metrics?
Ed learnt his trade working for Yahoo! Europe from 1998 to 2003 and gaining huge experience from his time involved in Search development. Witnessing the growth of online search advertising, he saw an opportunity in classifieds and along with some of his ex colleagues decided to setup Lokku Ltd, the owner of the Nestoria brand. In 2005 Google Maps also launched, changing the whole way that properties could be displayed to the customer, a case of right place, right time !
Having successfully entered the UK property search marketplace and bypassed the For Sale by Owner sector stating there is just not enough demand for the service, Spain is the next property search market that the Nestoria guys have decided to pursue ."People love to complain about estate agents, no-one really wants to sell their own house though"
The difference is, they have set their sights on the Spanish speaking population given its infinitely larger marketplace in comparison to its english speaking counterpart which is also heavily pursued.
Two and half months into the project and Nestoria have listed and mapped most Spanish property on the market and now have the unenviable task of sorting though all the duplicates. This is a mammoth task as in Spain it is standard practice for vendors to use multiple estate agents and thus properties get listed on the market numerous times. Couple this with the fact that new builds make up significant proportion of the Spanish property marketplace and many agents list each unit as a individual listing this translates to property overload and a very bewildered spanish property seeker.
So Nestoria are trying to learn from you
the customer to help you
get better results when searching and ultimately save you
time and money.
What could improve domestic online property search?
Does mapping make your search easier?
How do you find searching for overseas property currently and how could it be improved?
Why not have your say by adding your 'Comment
' below this post.
The podcast has been removed as it is now out of date.