BrokerPulse

RealTrends Q4 2021 BrokerPulse: Office consolidation, boosting agent productivity and core services capture rates continue…

2021 Website Rankings Now Live!

RealTrends website rankings highlights the top real estate websites across the country in 6 total categories for our annual brokerage website rankings.

Real estate teams vs brokerages

Steve Murray and Tracey Velt discuss the profitability of real estate teams vs brokerages, based on the results of the 2021 RealTrends Team Profitability Study.

Study: It’s true, real estate teams outperform brokerage firms

Surveyed real estate team gross margins were an average of 61.8% compared to an average of 13.8% for real estate brokerage firms.

4 Ways Agents Can Harness Artificial Intelligence

Whether they recognize it or not, real estate technology startups, are in the business of selling time back to real estate professionals everywhere. We’re seeing exciting developments about what work for real estate professionals could look like.

In the near future, one could argue that while real estate professionals will never be replaced, there are aspects of the industry that could be automated. According to the BBC Intelligent Machines Series looking at how AI or artificial intelligence will affect us, the likelihood of real estate professionals and auctioneer positions being automated is 68%.

Machine learning could play a role in online home searches, making queries way more accurate. It could also be used to predict real estate patterns and buyer statistics. AI may determine the best place for an online prospect to buy and ultimately live, based not just on physical criteria, but on personal ideologies and value systems.

AI is a game changer in the real estate space in four ways: 

  1. More than just your query is processed during a search. This information is used to find the exact home a client is seeking.
  2. AI can’s just find the perfect home; it can tell online prospects information it couldn’t before, such as their return on investment.
  3. Currently, property images are dependent on written descriptions. AI can be used to ensure image results are accurate.
  4.  Could make property suggestions more accurate and quicker than brokers.

While 80% of all home buyers are house hunting online, more than 83% of all home buyers want to see pictures of the property before they see it in person. And, since they have an idea of how they’d like their future home to look, AI-driven visual search could be a game-changer in real estate listings.

Are you familiar or already experimenting some of these trends? I’d love to hear your learnings and thoughts in the comments section below.

alainAlain Kapatashungu

Co-founder & CEO Frontdoor

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RE/MAX redoes books after outside audit

RE/MAX has preliminarily announced a $25.1 million loss for the third quarter as the venerable and distinctive real estate company juggles expansion and redoing prior financial disclosures.  

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