INTRO uses artificial intelligence to process property deals
Today INTRO Technology Rus provides IT services to more than 30 major developers and more than 300 real estate brokers. The services include a patented system for property market analysis and a digital marketplace of real estate.
INTRO Analytica, our AI-based solution for market analysis, is recognized as one of the best
IT startups in Central and Eastern Europe by crunchbase. More information is possible to read here: http://www.ewdn.com/files/cee_featured.pdf
In December 2017, it was selected for the acceleration programme in IIDF, the largest IT accelerator & venture fund in Europe. This is the site of IIDF https://iidf.vc/
INTRO Sale, our property marketplace, attracted more than 300 users already in beta-version. The closed release for real estate professionals took place at the Russian Property Congress in Sochi (April, 2018).
AI is used in INTRO to match the records from Rosreestr (the state registration authority) with homes under construction. The thing is that all the Rosreestr records are uncategorized: they only report the apartment number. The deal then has to be “attached” to the building plan in order to understand the property type and area. Developers can make this task even more difficult since they may change the building plan after sales launch. AI can recognize such changes and match a deal with a building faster and more precisely than other instruments. Currently, INTRO Analytica processes deals that cover about 25 million square meters of property across Russia.
INTRO constantly add a new locality to the system. A lot of depends on the size of local market. If we’re talking about a city of one million inhabitants with some 150 apartment blocks under construction, it will typically take a week. Sometimes there are delays in record disclosure by the state authority, so one week can turn into two or three. Once the location is in the system, the monthly updates take only 2–3 days or even 1.5 day for smaller cities.
This tool is only needed in countries where off-plan property accounts for a significant share of the real estate market, or where the authorities want to establish this scheme. This is the case of many emerging countries in need of affordable housing. Off-plan is also used in the segment of luxury properties — for instance, in the Gulf countries or in the UK.
According to the State Agency for Housing Mortgage Lending, the off-plan property market in Russia is worth around $25 billion. More than 4000 construction companies are potential customers for INTRO Analytica, they would generate some $70 million in revenues per year. However, the planned market penetration of INTRO in Russia would not exceed 40%, since covering small cities may not pay back. In these locations, the market is usually less competitive and, therefore, more predictable. The growth potential of INTRO lies essentially in foreign countries with a similar market structure. An earlier version of INTRO Analytica included the monitoring of the second-hand property market as well, yet later were removed this functionality. The developers of INTRO decided to focus on monitoring the construction and development market, which is not yet saturated.
INTRO’s products are recognized among global blockchain startups: ICObench Top-5, ICO Track 5.0 and TokenMarket
More information and rating of different experts you can find here https://icobench.com/ico/intro
You can know the ratings here: https://icobench.com/ico/intro/ratings#ratings
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More information about ICO INTRO you can find here https://introa.io/en/
White Paper https://introa.io/files/%D0%98%D0%9D%D0%A2%D0%A0%D0%9E%20WP%20en.pdf
