What’s the potential impact of AI, IoT, algorithmic business systems, and more on brokerages, consumers, and MLS operations? You can find out – if you attend the RESO Fall Conference. I’m on a panel that will discuss six trends from the Gartner research report, The Six Forces That Will Shape Business and Technology in 2030, including:
- Global to personal
- Hierarchies to meshes
- Fixed to interchangeable assets
- Devices to connected humans and things
- Big data to algorithmic business
- Resources to smart materials
Some of these are trends that I’ve been talking about in front of audiences for a long time, and which we can develop easily into our real estate applications now, while others are clearly more long-term. Let’s focus now on the first of these trends.
An example of the trend the industry should be focusing on immediately is “global to personal”. We’ve given lip-service to personalized lifestyle search in our industry but we’ve done a less-than-ideal job of actually personalizing technology to the consumer. For example, some sites or apps show maps with points of interest on-demand, but we haven’t seen an implementation providing a great personalized lifestyle user experience.
Imagine this: Give the consumer one place to type in a list of their interests. Then, along with listings, we can show them a map personalized to them and, on each listing, information on how far it is to each point of interest. If they type in “swimming, Chinese food, exercise” we can show them all the swimming pools, Chinese restaurants, and gyms in their search area. We can personalize their experience on an ongoing basis.
Taking that to the next level, we could personalize the real estate search experience without them typing a thing, by obtaining information about them right from their Facebook account, via Facebook’s API , analyzing data obtained with end-user permissions for user_likes, user_posts, and user_status.
From a data standards perspective, will there be a unified way to obtain this information from all social networks, or will there continue to be an API hodge-podge where different data is requested in different ways from each site? Will the APIs provide more granular data permissions in the future, so that we can find out someone’s interests without getting access to and analyzing all their ‘likes’, posts, and status updates? Real estate software integration with these and other systems clearly provides a great opportunity for providing a more personalized experience.
Going even further, imagine providing an easy way for brokerages and their agents to annotate points of interest with their own reviews, so the map becomes a place to express their unique voice to the consumer, making the listing search even more personal on each website. Agents like to say they are the “neighborhood expert,” and this would be an opportunity for them to demonstrate that, as part of the personalized search.
Join us at the RESO Fall Conference for a more thorough discussion of this personalization trend and five others – and for all the other great conversations we will be having about the future of the industry and data standards.
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