Zillow, Keller Williams and Realtor.com voice their opinions on the trends expected to take hold in 2023 | this week at Inman Connect New York
At Inman Connect New York this week, technology executives from Zillow, Keller Williams, and Realtor.com discussed their outlook on the technological trends expected in 2023. Curt Beardsley, Zillow’s Vice President of Industry Development, noted that the company has hundreds of engineers working on exciting projects in natural language search and using AI and machine learning to extract information from photos for home-shoppers and real estate agents. Beardsley then listed three tips for utilizing technology in 2023: prioritize creating engaging online experiences, work on how floor plans and listing photos interact, and invest in companies that are here to stay.
Curt Beardsley, Zillow’s Vice President of Industry Development, informed the crowd that the company has hundreds of engineers working on some cutting-edge technology that most people won’t understand. This includes natural language search and using machine learning and AI to extract information from photos, which will help home shoppers better understand a property’s features and make marketing easier for agents. However, Beardsley stated that his focus was on three practical things that attendees could do with technology to improve their real estate business in 2023. Firstly, he encouraged attendees to create engaging online experiences to help homebuyers determine if a property is right for them, as he believes consumers will be spending more time online. Secondly, Zillow is continuing to work on the interaction between floor plans and listing photos to enhance the online home-showing experience. Finally, Beardsley advised attendees to invest time and energy with established companies that have a proven track record, instead of working with venture-backed tech companies that may not deliver on their promises.
Chris Cox, Chief Technology Officer at Keller Williams, shared the franchise giant’s priorities in the real estate industry. The company is directing investments towards enhancing the agent experience through advancements in the agent-enabling CRM space, and improving intelligence in search and lead generation. Keller Williams also aims to create a “digital market center experience” by reducing its dependence on brick-and-mortar offices and removing barriers to expediency in real estate transactions.
Ben Litvinas, the Senior Vice President of Data and Analytics at Realtor.com, took the stage at Inman Connect to share the company’s focus on understanding both agents and consumers as deeply as possible. Realtor.com has built a team of over 100 data scientists who are dedicated to studying data from both consumers and successful transactions to understand what makes a successful real estate deal. To help both consumers and agents, the company has developed a tool called “Listing Insights,” which gives agents information on how a listing is performing, how it will perform, and provides coaching on how to improve it.
In conclusion, the real estate industry is expected to see significant advancements in technology in 2023, with a focus on improving the online experience for homebuyers and sellers, enhancing the agent experience, and using data and analytics to drive successful real estate transactions.