As markets shift to digital platforms, real estate companies need to efficiently manage and organise large amounts of property data to be accessed online.
Originally developed for retail and e-commerce, Product Information Management (PIM) solutions are now gaining importance across various industries as a digital presence becomes essential. PIM is also reshaping the real estate sector, enabling companies to meet the growing demand for seamless digital experiences.
By streamlining complex property data and ensuring consistency across channels, PIM enhances the customer experience with real-time updates and a stronger online presence.
More and more real estate companies are realising that PIM can help them modernise their business. Here are some insights based on the journey of our customer, who we will refer to as 'The Real Estate Company'.
Property Management Challenges
The Real Estate Company was planning a digital transformation and wanted to replace outdated systems with modern solutions.
Buyers expect polished digital experiences - including accurate and engaging product information, rich visuals, and easy navigation on the webpage. Brands are under pressure to elevate their online presence. With this in mind, The Real Estate Company wanted to create a better customer journey by improving the listing of its properties and plots online.
The overwhelming driver for investing in PIM was the inefficiency of their Content Management System (CMS) in managing product information for a growing portfolio of properties across multiple brands.
Managing numerous brands within a complex company hierarchy created a need for a centralised asset hub, allowing streamlined access for over 50 users. An improved data flow with their ERP and CMS system was also crucial.
Bluestone PIM for Property Management
Modern, composable PIM solutions have much to bring to the table when it comes to real estate data management. PIMs are a valuable asset in driving modernisation in real estate and paving the way for a more efficient digital business.
Here is how Bluestone PIM helps real estate companies:
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Centralise data: All property-related data is stored in one place for easy access and management, ensuring accuracy and consistency.
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Manage digital assets: With an integrated Digital Asset Management (DAM), users can organise all images, documents, and any other digital assets associated with properties in one place.
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Flexible data model: Bluestone PIM provides a fully customisable and scalable structure for storing and organising data, allowing new types of information to be added.
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Property listing generation: Bluestone PIM AI Enrich can create property listing descriptions based on the property data stored in Bluestone PIM, which increases time efficiency.
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Increase automation: By simplifying property data management, reducing manual tasks, and eliminating redundancy, property data can be updated in real time without delays.
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Channel syndication: With over 700 APIs, Bluestone PIM can be easily and quickly integrated with diverse channels, and ensure a good flow of data in all platforms.
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Improve workflow: Authorised users can access, manage and enrich the same source of information, enabling efficient collaboration.
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Better property marketing: By organising and presenting properties with greater consistency and accuracy across multiple digital channels, businesses develop a better buyer experience.
How The Real Estate Company Streamlines Their Operations with Bluestone PIM
The Real Estate Company’s journey with Bluestone PIM showcases a tailored approach to managing property data that’s both organised and flexible, adapting seamlessly to their needs.
Here’s how they’ve structured their system:
Catalogue Structure
To keep their portfolio organised, The Real Estate Company created categories and subcategories that mirror real-world groupings.
For instance, they grouped properties by city (category) and then by neighbourhood (subcategory). This way, a buyer looking for properties could easily narrow down options to specific neighbourhoods. With Bluestone PIM, The Real Estate Company can add as many levels as needed, creating a detailed, logical structure that’s easy to navigate.
Unique Property Identifiers
Each property, whether it’s a house, flat, or office space, is assigned a unique number and name in the PIM. This makes each listing distinct, ensuring there’s no confusion between similar properties.
If The Real Estate Company lists multiple flats in the same building, each one has its own identifier, keeping records clear and accurate.
Property Attributes
The Real Estate Company enriches their listings with comprehensive attributes - everything from address and surrounding features to price details and specific amenities like parking or outdoor space.
This detailed information helps potential buyers understand the unique value of each property at a glance.
Digital Assets
With Bluestone PIM’s digital asset management (DAM) capabilities, The Real Estate Company centralises all property images, PDFs, and floor plans.
Each property has its visuals and documentation right at hand, ensuring marketing materials are accurate and updated across channels.
Product Relationships & Variant Groups
Bluestone PIM also allows The Real Estate Company to link related properties. For instance, a block of flats can be connected to its individual units, making it easier for both buyers and The Real Estate Company’s team to view and manage related listings.
Buyers can browse the block as a whole and then explore available units, all in a seamless experience.
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ROI of PIM:
Reduce costs, accelerate time to market, and maximize revenue
PIM and the Evolution of Real Estate
The real estate industry is evolving and buyers are increasingly relying on digital platforms for property searches and transactions. Modern PIM solutions, such as Bluestone PIM, can support this change by ensuring that data is organised and consistent across all digital platforms.
In addition, new technologies such as virtual tours and AI-driven recommendations are on the rise and are becoming increasingly important for improving the buying experience. Bluestone PIM not only helps manage the data for these features, but as a strong composable PIM, it also integrates seamlessly with new technologies.
The Strategic Role of PIM in Real Estate
PIM solutions are becoming an important tool for property management. The main reason for this is that PIM helps to manage the vast amount of complex property data and ensures consistency and accuracy across multiple channels.
By streamlining data management, PIM enhances the buyer experience through real-time updates and better online presentation of properties. It also enables businesses to adapt quickly to market changes and new technologies, helping them to remain competitive in an increasingly digital and fast-moving industry.
Let’s talk about it! Reach out to our team if you have any other questions or schedule a demo tour of Bluestone PIM!
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