Written in Partnership with Amir Bakian
Each part of the real estate transaction seems to move slowly, especially for an expectant buyer or seller. It’s also pretty standard to wait weeks and spend hundreds of dollars to get the necessary valuation on a property. These sluggish and outdated processes leave everyone in the dark for far too long.
Enter Estater, a trailblazing real estate data and PropTech company co-founded by Sanjay Goyal, a visionary entrepreneur with an MBA and a background in real estate data and engineering. His Estater platform is transforming the industry in the Middle East by providing comprehensive data and market intelligence. Using Data Science and AI models, the property valuation task is being revolutionized.
MD Sanjay Goyal’s Journey
Sanjay has always had a knack for handling data and mathematics. This innate skill laid the foundation for Estater. Working with hundreds of real estate investors, he recognized the critical need for quick access to real estate data and property valuation. Unfortunately, the traditional manual property valuation process was time-consuming and often required the involvement of middlemen, such as real estate brokers and agents.
The issue of inaccessible data in the real estate market is common. Whether people are looking to evaluate a property, secure a mortgage, or sell real estate, access to accurate and timely property valuations is paramount.
Sanjay and his team have mapped all cities across Saudi Arabia, Kuwait, Bahrain, and UAE, covering thousands of square kilometers of urbanized real estate. This wealth of information allows clients, many seasoned real estate professionals, to perform brief property analyses independently. It also eliminates the need for time-consuming narrative analysis on whether they should or shouldn’t buy a property. As Sanjay Goyal puts it, “They don’t need to be told what to do in real estate as long as they have timely and quality information.”
The Solution: Providing Instant Property Valuations
Estater’s automated model is a significant game-changer, disrupting the traditional manual property valuation process. The company offers a tool to help generate almost instant (1 minute) valuations for any property within its geographical area, and the model updates frequently with every transaction in the market. Another disruption? The cost is approximately $10.00 per valuation.
Sanjay’s explanation of how it works emulates the platform’s simplicity, “You pick the area, you get the listing, you select the property on the map, and boom, that’s it. It sorts through millions of rows of data sets sitting behind the algorithm.”
What’s Next for Estater
Sanjay Goyal and his dedicated team have ambitious plans for the future. They aim to expand their geographical coverage to include more areas in the Middle East and India. Beyond that, they have a vision that could revolutionize the real estate industry – a platform where properties actively seek buyers. Imagine receiving notifications about properties similar to those purchased or browsed in the past. It’s a matchmaking service for real estate investors that could streamline and enhance the property acquisition process, making it more efficient and data-driven.
Estater is at the forefront of a real estate transformation, bringing tools for instant property valuations and real-time data access to the fingertips of property owners and industry professionals. Sanjay Goyal’s journey has paved the way for a brighter and more data-centric future for the real estate market.
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