Real AI: AI will kill showing traffic, headlines, fast facts and AI quote of the week
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate.
AI will kill showing traffic but that's a good thing
The big AI takeaway from the 2024 National Association of Realtors Legislative Meetings (known in the industry as Midyear) held last week in Washington, D.C., was an unexpected consequence of AI.
This concept materialized during the Q&A at the end of the Emerging Business Issues & Technology Forum, "Integrating AI and AR/VR Into Your Business."
Julie Whitesell, SVP/Broker in Charge at Meybohm, moderated the panel, which included Jeff Allen, President of CubiCasa; Chris Christensen, NAR, Director of Tech Policy; Sam DeBord, CEO of RESO; and Scott Richard, Owner of Richard Realty.
After covering a slew of AI-related topics (nearly void of all discussion on AR/VR until the Q&A despite being in the title), a Realtor in the audience shared her experience of creating a first-class listing, supported by all the tech bells and whistles.
She observed that showings plummet when a listing reveals all the property data and insight when you include drone footage, 3D tours, floorplans, and high-res photos that highlight and identify all the amenities.
The reason is that many home shoppers turn away when all this data and complete visual details are shared online. They read about or see something in the listing that turns them off, and they nix the idea of seeing the house.
But that's a good thing. Why? Because the buyers who do ask for a showing are ready, willing, able, and, most importantly, highly interested.
A highly tech-empowered listing will narrow the top of the funnel, qualifying buyers in a way that has not been possible until now.
AI is going to narrow the top of the funnel even more.
The more data AI consumes, the better it gets, and AI will enhance listings through tools like computer vision to unlock more data.
For example, leading AI real estate firm Restb.ai can do so much more than tag photo features (e.g., Wolf stove, quartz countertops, etc.) and automatically write pithy photos and property descriptions. Its computer vision power is being used by appraisal firms to assess a property's condition.
What AI will do for listings will result in fewer showings, but the buyers that come are the only ones the sellers want anyway.
A great tip from the Realtor who shared her experience: You should educate your sellers upfront that their super-tech-empowered listing will result in significantly lower foot traffic.
When you explain why, sellers will understand that lower foot traffic really is a good thing.
AI Fast Facts
1 in 4 desk-based employees stated they have experimented with AI tools for their work tasks – Slack
73% of sales professionals feel that they're able to retrieve insights from data they otherwise wouldn't be able to find without the assistance of AI – Hubspot
55% of employees using generative AI at work are doing so without the formal approval or oversight of workplace management – Salesforce
60% of businesses using AI are not working to develop ethical AI policies – IBM
Employers surveyed by Amazon acknowledged they would be willing to pay a 43% higher salary on average for staff with AI skills in sales and marketing – Amazon
Source: Vena Solutions
AI Headlines – Take 5
Navigating the Future of Real Estate Investing With AI: Insights for Small-Business Owners | 5/7/24 - ForbesAI can assist with real estate investing.
The 5 subtle AI announcements Apple made at its big iPad 2024 launch event | 5/7/24 - TechRadarApple's products continue to integrate AI-powered features.
Docusign to acquire Lexion for $165M in exit for Seattle-based AI contract management company | 5/6/24 - DocusignDocusign can now modernize as it buys Lexion's AI-powered tech.
OpenAI working on new AI image detection tools | 5/7/24 - The VergeThe latest OpenAI tool will detect if an image was made with the DALL-E AI image generator.
Microsoft announces $3.3 billion investment in Wisconsin to spur artificial intelligence innovation and economic growth | 5/8/24 - MicrosoftPart of Microsoft's investment will go toward developing an AI-powered data center.
AI Quote of the Week
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To view the original article, visit the WAV Group blog.
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Articles
How to Sync Your Google and Apple Calendars
Are you an iPhone owner who uses Gmail? Or a MacBook owner with an Android?
If you're any kind of technology cross-pollinator, chances are good that you've had some issues synching things, like your calendar.
A transaction deadline or client appointment is the last thing you want to miss, so if you use a mix of Apple and Google products, it's important to make sure every crucial date is on the the calendar you use most.
Syncing your Apple and Google calendars is a great way to make sure no important dates slip through the cracks. Fortunately, that's an easy process, and the video above shows you just how to do it. Watch it to learn how to:
Add your Google Account to your Apple Calendar so transactions syncing to your Google Account also show on your Apple Calendar
Add your Apple Calendar to your Google Calendar to get all your appointments, tasks, and events in one place
Make Your Calendar Work for You
Leveraging Google Calendar for Real Estate
Real Estate Smartphone Tricks: Using Your Phone's Calendar
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What's Coming for Open Houses? Predictions for 2023
Open houses have long been a point of contention for real estate agents. Are they in? Are they out? Are they back in again? Even just in the last couple of years, this will-they-won't-they dynamic has switched multiple times—understandably, given world events.
Those switches have happened fast, too.
As an example, an article on Inman from July 2021 definitively stated that open houses were out. At the time, that was more than fair: Between government and health agency mandates and consumers' concern about being in closed environments with strangers, it was going to be next to impossible for agents to bring in visitors.
Less than eight months later, another piece definitively stated that open houses were back in vogue. Again, fair: People were ready to be out and about, they were ready to start home searches, and they were ready to see spaces through more than the occasionally fish-eyed lens of a virtual tour.
Now, with 2023 around the corner, here we all are wondering again whether open houses will be the thing agents turn to with confidence. No matter what happens, though, one thing is for certain: Open houses will be different.
Here's what we expect agents will see with open houses in the new year.
They will become more popular with sellers.
The hot-or-not dichotomy for open houses has historically been incredibly dependent on their popularity with consumers, especially sellers. We've based this prediction for popularity on a combination of larger expectations for the year:
Foot traffic for individual home showings as reported by Sentrilock through NAR has consistently fallen in every report issued throughout 2022, and hasn't shown signs of changing.
Experts have predicted that days on market will most likely spike this coming year, potentially reaching over 30 days.
Together, these trends mean that fewer people are touring homes than ever, and home sales will drag on much longer than most sellers would like. This will likely leave sellers in a position where they feel an open house is their best bet for getting an interested buyer.
Open houses will be in agents' best interests, too.
The state of the real estate market has been fickle in the last few years, changing almost as quickly as the popularity of open houses. Next year, though, has been almost universally predicted to be a balanced market, thanks to a combination of external factors.
Issues like inflation, increasing—or at least, not decreasing—mortgage rates, and affordability issues will likely impact the number of buyers who decide to brave the market. Sellers, who often end up becoming buyers as well, will have the same concerns, and will understand that their own audience is reluctant. This may hinder the number of sellers coming onto the market, as well.
This means that agents will need to work harder to find buyers and sellers—and to help them as best as they can. Generally, open houses present an opportunity for agents to showcase their value to both sides of a real estate transaction, and can give them visibility and access through neighborhoods of potential sellers and larger audiences of buyers all at once.
Agents will need a hybrid approach.
The pandemic has had a much longer effect than many of us would like to admit. When was the last time you were happy to touch something that a stranger may have—especially an implement like a pen, which inadvertently reaches people's mouths far more often than anyone wants to think about?
Traditional sign-in sheets (and their requisite pens) will fall by the wayside in 2023, and will largely be replaced by digital methods that allow visitors to check in using their own smartphones. After all, they know where those have been.
As a bonus for real estate agents, digital sign-in methods can also make it easier to follow up with interested parties quickly—which could help secure an otherwise uncertain buyer.
To view the original article, visit the Lone Wolf blog.
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Products
Showing Sync by Showing Suite
Showing Suite's Showing Sync is an online program that imports showing information from your electronic Supra or SentriLock lockbox into your HomeFeedback or Foreclosure Feedback account. Showing Sync is both PC and Mac friendly and will sync showings from your Supra or SentriLock lockbox. Syncs can be scheduled to run twice a day at the desired times or run manually. Showing Sync eliminates the need to pull showing information from your electronic Supra or SentriLock lockbox to follow-up for showing feedback. Once an agent shows one of your listings, Showing Sync will copy the showing agents' information into your HomeFeedback or Foreclosure Feedback account, triggering the series of automatic feedback request emails. Showing Sync works with your electronic Supra or SentriLock lockbox and HomeFeedback (or Foreclosure Feedback) to create the most efficient way to gather feedback from showings. When a listing is shown via electronic Supra or SentriLock lockbox entry, Showing Sync will automatically import the showing agent's information into your HomeFeedback or Foreclosure Feedback account. HomeFeedback will then follow-up through a series of emails requesting feedback from the showing agent and their clients. Once the showing agent responds to the feedback request, the listing agent (you) and the home seller will be notified via email with the responses provided. If the showing agent fails to respond, the system will alert the listing agent and seller. Additionally, the home seller can login to their very own private seller console anytime to see the list of showings, view feedback, statistical reports, and more.
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Showing Suite's Showing Sync is an online program that imports showing information from your electronic Supra or SentriLock lockbox into your HomeFeedback or Foreclosure Feedback account. Showing Sync is both PC and Mac friendly and will sync showings from your Supra or SentriLock lockbox. Syncs can be scheduled to run twice a day at the desired times or run manually. Showing Sync eliminates the need to pull showing information from your electronic Supra or SentriLock lockbox to follow-up for showing feedback. Once an agent shows one of your listings, Showing Sync will copy the showing agents' information into your HomeFeedback or Foreclosure Feedback account, triggering the series of automatic feedback request emails. Showing Sync works with your electronic Supra or SentriLock lockbox and HomeFeedback (or Foreclosure Feedback) to create the most efficient way to gather feedback from showings. When a listing is shown via electronic Supra or SentriLock lockbox entry, Showing Sync will automatically import the showing agent's information into your HomeFeedback or Foreclosure Feedback account. HomeFeedback will then follow-up through a series of emails requesting feedback from the showing agent and their clients. Once the showing agent responds to the feedback request, the listing agent (you) and the home seller will be notified via email with the responses provided. If the showing agent fails to respond, the system will alert the listing agent and seller. Additionally, the home seller can login to their very own private seller console anytime to see the list of showings, view feedback, statistical reports, and more.
HomeFeedback® by Showing Suite
Showing Suite's HomeFeedback® software is a feedback system to help obtain feedback from fellow real estate agents after they show a listing to their client. HomeFeedback helps agents save time and by scheudling more effectively with their clients. It also helps agents by presenting them with the feedback directly from the showing agents and their buyers. Once sellers begin to read feedback through this innovative realtor software, they will be more apt in making necessary changes to speed the sale of the listing. HomeFeedback® can be used by individual REALTORS®, real estate teams or real estate brokerages. The questions of the showing agents can be customized. HomeFeedback® sends 3 feedback request emails three days apart or use custom settings to change the frequency and intervals. Listing agents can also use the e-blast feature for price reductions, commission incentives etc. Whenever a listing is shown, the showing agents' contact information is entered into the HomeFeedback® REALTOR® software. Showing information can be manually entered into the system, or automatically pulled from SentriLock or Supra lockboxes via Showing Sync. HomeFeedback® will then follow-up through a series of emails requesting feedback from the showing agent and their clients. Once the showing agent responds to the feedback request, HomeFeedback will then distribute the responses to both the listing agent and the home seller. If the showing agent fails to respond, the system will alert you and your seller. Additionally, the seller can login to their very own private seller console to see the list of registered showings, review feedback gathered, statistical reports, any comments you have left, and more.
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Showing Suite's HomeFeedback® software is a feedback system to help obtain feedback from fellow real estate agents after they show a listing to their client. HomeFeedback helps agents save time and by scheudling more effectively with their clients. It also helps agents by presenting them with the feedback directly from the showing agents and their buyers. Once sellers begin to read feedback through this innovative realtor software, they will be more apt in making necessary changes to speed the sale of the listing. HomeFeedback® can be used by individual REALTORS®, real estate teams or real estate brokerages. The questions of the showing agents can be customized. HomeFeedback® sends 3 feedback request emails three days apart or use custom settings to change the frequency and intervals. Listing agents can also use the e-blast feature for price reductions, commission incentives etc. Whenever a listing is shown, the showing agents' contact information is entered into the HomeFeedback® REALTOR® software. Showing information can be manually entered into the system, or automatically pulled from SentriLock or Supra lockboxes via Showing Sync. HomeFeedback® will then follow-up through a series of emails requesting feedback from the showing agent and their clients. Once the showing agent responds to the feedback request, HomeFeedback will then distribute the responses to both the listing agent and the home seller. If the showing agent fails to respond, the system will alert you and your seller. Additionally, the seller can login to their very own private seller console to see the list of registered showings, review feedback gathered, statistical reports, any comments you have left, and more.
Showing Note
Showing Note is a tool that real estate professionals can use to collaborate with buyers. The app allows your buyers to create text, picture, and video notes during real estate showings, and share their notes with you and on social media networks. When your client arrives at a showing, Showing Note will automatically detect their location so that they can check in. Once checked in, buyers will have access to in-depth MLS data about the property. From there, they can rank it against other listings they've seen. Buyers can document each home showing they attend by noting their overall opinion, adding photo and video galleries, and entering what they liked most, least, and their opinion on price. Notes that collaborators make on the same property will also reflect in their account. Buyers can then share their favorite homes with you or on social media. They can send another Showing Note user a request to collaborate and share notes, pictures, videos, and favorite homes. Showing Note can also keep buyers updated on their favorite homes. By opting to receive text or email notifications on listings they choose, buyers will automatically be updated on price changes, status changes, or when a property goes back on the market.
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Showing Note is a tool that real estate professionals can use to collaborate with buyers. The app allows your buyers to create text, picture, and video notes during real estate showings, and share their notes with you and on social media networks. When your client arrives at a showing, Showing Note will automatically detect their location so that they can check in. Once checked in, buyers will have access to in-depth MLS data about the property. From there, they can rank it against other listings they've seen. Buyers can document each home showing they attend by noting their overall opinion, adding photo and video galleries, and entering what they liked most, least, and their opinion on price. Notes that collaborators make on the same property will also reflect in their account. Buyers can then share their favorite homes with you or on social media. They can send another Showing Note user a request to collaborate and share notes, pictures, videos, and favorite homes. Showing Note can also keep buyers updated on their favorite homes. By opting to receive text or email notifications on listings they choose, buyers will automatically be updated on price changes, status changes, or when a property goes back on the market.
ShowingTime Appointment Center
ShowingTime provides an Appointment Center service for listing agents and offices that handles calls, schedules showings, provides showing feedback, generates reports and incorporates 2-way text messaging for confirmations. ShowingTime's service brands all emails on behalf of the agent or brokerage, and makes branded calls to homeowners. Key features: Availability – the ShowingTime Appointment Center takes calls from 8 a.m. to 11 p.m. EST 7 days a week Decreases administrative burden Enables appointments to be confirmed, declined or rescheduled via mobile phones Reinforces the agent's or broker's brand – calls are made to homeowners as if the representative were a part of the in-house team Notification and confirmation emails support the agent's or broker's marketing efforts by using their logo Online listing activity reports display showing feedback for sellers and are accessible 24/7 The Appointment Center service uses 800-SHOWING as its showing phone number and www.800showing.com as its login web site. It is also available on a part-time basis for offices that use ShowingDesk.
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ShowingTime provides an Appointment Center service for listing agents and offices that handles calls, schedules showings, provides showing feedback, generates reports and incorporates 2-way text messaging for confirmations. ShowingTime's service brands all emails on behalf of the agent or brokerage, and makes branded calls to homeowners. Key features: Availability – the ShowingTime Appointment Center takes calls from 8 a.m. to 11 p.m. EST 7 days a week Decreases administrative burden Enables appointments to be confirmed, declined or rescheduled via mobile phones Reinforces the agent's or broker's brand – calls are made to homeowners as if the representative were a part of the in-house team Notification and confirmation emails support the agent's or broker's marketing efforts by using their logo Online listing activity reports display showing feedback for sellers and are accessible 24/7 The Appointment Center service uses 800-SHOWING as its showing phone number and www.800showing.com as its login web site. It is also available on a part-time basis for offices that use ShowingDesk.
Industry News
Sentrilock Announces Sentrikey Showing Service Now Included for All Customers
The basic tier of SentriKey Showing Service® provides REALTORS® with a complete showing and client management tool to manage their listings, manage showing feedback, and facilitate scheduling for buyer and seller clients all within the same secure mobile app that they use to control property access.
"We continue to bring innovative solutions to REALTORS® and ensure we provide a trusted platform that does not turn REALTORS® livelihoods into data that can be used by others for their own purposes," said Scott Fisher, CEO of SentriLock. "Our integrated lockbox and scheduling management platform bring a fantastic set of tools for our customers to use. Making this showing service more widely available just made sense. We want our clients to have all the best tools they need so they can save time and concentrate on what they do best – helping their clients achieve their real estate dreams."
SentriLock is currently working with their current SentriKey Showing Service® customers to ensure that all customers have the option to remain within their current tier or upgrade to higher tiers. Agents and brokerages will also be able to upgrade directly to higher tiers, which provide features like a full office dashboard and scheduling center, access to the concierge call center to schedule appointments, ability to sign clients up to the Client Connect app, and access to the enhanced features in the industry's first AI-Enabled assistant, SAM™, who assists agents in their day to day client appointments.
"We cannot wait for our customers to have access to a great showing management product designed to be a part of our SentriLock ecosystem of products," said Andrew Sims, Vice President of Revenue. "This is a product designed and improved by the help of our REALTOR® members. It's not something we just bought and tried to make fit. We really see this full suite of products as well as integrations with other leading proptech partners as our future."
All SentriLock customers will now be able to take advantage of this offer. To start the conversation, please contact our sales team at [email protected].
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SentriLock Launches New Offer Comparison Tool
SentriLock announced a new SentriKey Showing Service® feature, Offer Comparison, designed to increase listing agent productivity. The days of using spreadsheets to evaluate incoming offers and look at side-by-side comparisons are in the past.
The new feature streamlines this process, so you can review all offers in one place, and easily share those offers with your clients.
Benefits for agents:
Saves time for listing agents and showing agents with an easy-to-use tool for adding offer proposals.
Allows listing agents to evaluate offers efficiently using the side-by-side offer comparison tool.
Enables a comprehensive "net view" of approximately how much cash the seller would receive from a specific offer.
To learn more about these great features and how they can help you, check out this video:
Offer Comparison is available on the Professional Tier of the SentriKey Showing Service®. To learn how you can add on this time-saving feature, contact your association.
To view the original post, visit the SentriLock blog.
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Companies
Quikshow
At Quikshow, we know you can't be in two places at once. That's why we have developed the first app that allows you to post a showing opportunity and have other, available, nearby agents, show the property to your clients for you!
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Showami
Showami provides licensed real estate agents on-demand for home showings, open houses, and more. Showami works with busy real estate agents, brokers, and property management companies to ensure their home showings are covered by professional real estate agents in the local area. With coverage in every state and tens of thousands of agents onboard, getting home showings covered is piece of cake with Showami.
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Showing Suite
Real Estate Productivity
Suite Showing Suite is an all-in-one web-based real estate productivity software suite that helps real estate agents, teams, and offices harness their full sales potential by automating time-consuming tasks, allowing more focus on sales.
Showing Suite boosts real estate productivity by automating the showing feedback process, allowing buyer agents to schedule showings on your website, and employing email marketing to communicate with both clients and incoming leads. Along with saving REALTORS® hours of valuable time every month, Showing Suite keeps clients and leads happy and informed during their real estate transaction. Reach your full sales potential, obtain more listings and sell in less time for more money with Showing Suite.
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ShowingTime
ShowingTime equips agents, brokers, offices and MLSs with easy-to-use tools to schedule, manage and report on showings and feedback, including its best-in-class Appointment Center.
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Webinars
Let the Showings Begin: An Exclusive Pre-Launch Look at Homesnap Showings
It's almost here! Homesnap is on the verge of releasing its showing management platform, Homesnap Showings, and RE Technology got an exclusive look at the new product.
Homesnap Showings is a free component of Homesnap Pro and will be available to Homesnap Pro users at no additional charge. Currently, the product is available in two test markets, and Homesnap expects over 50 MLS integrations by the end of the year.
In a recent webinar, we got a first look at Homesnap Showings. Watch the recording below to see a demo of Showings on desktop, mobile, and via MLS integration.
Webinar Guests
Lou Mintzer, SVP Product Development, Homesnap
Lynn Mathysse, Director Product Management, Homesnap
Alli Varnes, Product Manager, Homesnap
Moderator: Victor Lund, CEO, RE Technology
Video Timeline
0:00 - Moderator Victor Lund introduces the topic and panelists.
2:15 - Lou Mintzer introduces Homesnap and its partner, the Broker Public Portal.
6:21 - Homesnap Showings is a free component of Homesnap Pro.
9:07 - Lou begins a live demo of Homesnap Showings.
12:12 - How to configure a showing.
16:15 - What Smart Notifications are and how they work.
21:00 - Lynn Mathysse continues the demo by showing how to set up a showing on mobile.
23:49 - What in-app messaging looks like for different user roles within the app.
25:16 - Creating multi-stop showing itineraries.
34:00 - What a Showing Activity Report looks like from the listing agent's side.
39:21 - Alli Varnes demonstrates two MLS integrations.
45:42 - Question and answer segment.
Next Steps
To learn more about Homesnap, visit Homesnap.com
MLS executives can reach out to [email protected] to learn more
Read articles about Showing solutions, or explore more Showing solutions in our Product Directory
Watch more webinars
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