The location of a property is one of the most important criteria for apartment hunters. The distance to the next supermarket or the connection to public transport can decide whether someone decides for or against a property.
The German real estate portal Immowelt now offers a location check that generates ratings for every listing. The new feature is based on Targomo’s Location Scoring API and allows visitors to Immowelt to assess public transit quality and “daily needs” access.
“The Immowelt location check is a real and tangible added value for searchers on immowelt.de,” says Felix Kusch, Immowelt Country Managing Director. “Anyone who can assess the location of a property at a glance saves valuable time in the search for a suitable apartment or house. In the test phase, users were already enthusiastic about this practical function.”
How the location check works
The Immowelt Location Check is a benchmark for the attractiveness of a property’s location compared to all other property locations in the region. It is calculated based on the number and accessibility of relevant points. The “Daily Needs” score takes into account the extent to which grocery stores, drug stores, ATMs, pharmacies, etc. are reachable within the area. The score “Public Transit” takes into account the proximity and number of transit stops, the amount of transit lines and frequency of their services as well as the effectiveness of the transit network itself – how good is the network at connecting people across areas.
The result is presented on an easy-to-read, five-point scale: Super, Good, Okay, Moderate and Poor. For the future, Immowelt plans to expand the location check with two additional scores: Family-friendliness and leisure opportunities. These are intended to display information about kindergartens, playgrounds or sports facilities, among other things.
Diverse scoring options for locations
Targomo’s Location Scoring API enables the evaluation of locations by analyzing sociodemographic data and the accessibility of relevant places (points of interest) in the vicinity. The criteria according to which locations are evaluated can be set individually. “The high adaptability of the Location Scoring API was one reason, along with the speed and precision of the calculations, why we worked with Targomo to develop the Location Check,” says Felix Kusch.
“We enable real estate portals to provide their users with additional information that they would otherwise research on other websites,” says Henning Hollburg, Managing Director of Targomo. “This allows them to keep users on their own platform. They can customize the scores and tailor them to different countries, cultures or user types, for example. Even an individual weighting of the criteria by the user herself is theoretically possible – for example, a user could specify whether there should be many or few bars or restaurants in a neighborhood.”
Interested to learn more about location scoring with TargomoAPI? Contact us.
immowelt is part of AVIV Group, one of the largest digital real estate tech companies in the world.
immowelt’s mission is to digitize all steps of the real estate transaction in the future to make it as uncomplicated and easy as possible for all parties involved. The basis is provided by the wide-reaching immowelt portals, which are among the leading real estate platforms in Germany and Austria. They already successfully bring together owners, real estate professionals and seekers. immowelt supports the uncomplicated search for a rental property, the effective marketing of a property and customized financing of one’s home with data-supported services. Thanks to decades of experience and broad real estate expertise, immowelt thus creates the perfect success story for tenants and landlords, real estate professionals, property owners and buyers.
In addition to immowelt, other leading real estate online marketplaces in France, Belgium and Israel belong to the AVIV Group, which is part of Axel Springer SE.