For decades, the topic of artificial intelligence (AI) has captivated our imagination. But over the last few years, we have seen it become more and more of a daily reality in our lives—from facial recognition on our phones to self-driving cars on the road, and the shiniest new toy: ChatGPT.
While AI advancements have transformed many aspects of our lives, the real estate industry has been slow to adapt. We are only just now beginning to see AI solutions blossom in the real estate space. That’s exciting because there are so many opportunities for improvement. The entire home-purchase transaction, from search to close, is poised to benefit from an infusion of new technology that will simplify and unify the pieces of the process.
Take online home search. It’s where the home-buying journey begins, and yet it’s a place where real innovation has stagnated. Across hundreds of websites, home-search technology has remained more or less the same for over a decade. The typical home-search experience is generally limited to a few basic categories like location, square footage or number of bedrooms, leaving out a treasure trove of other valuable information buyers are interested in.
Meanwhile, digital consumers’ expectations have changed dramatically over the last 10 years. Big tech and e-commerce giants have studied our search behaviors and crafted personalized experiences that seem to know exactly what we want—sometimes even before we know it ourselves. Retailers like Amazon or Target, among others, are masters of this. You barely have to think “I need a new sweatshirt” before they’re recommending sweatshirts to you.
But for homebuyers, the stakes are a lot higher than finding the perfect sweatshirt. Buying a home is one of the biggest investments of a person’s lifetime. Shouldn’t the home-shopping process accommodate the customer’s unique style and preferences? Shouldn’t filters be more personalized and tailored than square footage and number of bedrooms?
At homegenius Real Estate, we were interested in solving this problem as part of our vision to improve the entire real estate transaction experience. We knew AI was the key to enriching the experience and transforming the homebuyer journey. It allows us to pull more insights from home listings—far beyond what’s possible with conventional search filters—to help homebuyers find exactly what they’re looking for.
Our proprietary homegeniusIQ technology uses image recognition and photo analysis AI to “see” the vast number of home listing photos and search by a home’s contents and condition. Its cutting-edge models can identify and assess room type, room condition, and more than 50 objects inside and outside of a home that may impact its value.
When applied to the home search process, homegeniusIQ empowers buyers to find their dream home. They can simply upload vision board photos of their ideal kitchen, bedroom, bathroom and/or family room to find the closest match available on the market. The result is a faster, more thorough and more personalized home search experience.
To test drive the next generation of home search powered by homegeniusIQ, visit https://www.homegeniusrealestate.com.
