Tech Bytes: News from Constellation1, Chime, HAR, more
SERHANT. partners with Constellation1; Chime integrates ChatGPT; HAR, AZ Realtors add accessibility tools; Christie's adopts Modwell; more.
Editor's note: Technology is a driving force in real estate. From startups to established players, tech companies are constantly innovating, growing and forging partnerships. Here we highlight some of the latest news about the companies that help power the industry.
SERHANT. picks Constellation1 to boost national expansion
SERHANT., founded in New York City in 2020, recently expanded from the city into six new markets from Florida to Connecticut, Pennsylvania, New Jersey and the Carolinas. The relatively young brokerage is partnering with Constellation1, which brings more than 25 years of MLS data experience, to help ease the move to new markets.
Navigating differences in MLSs made it critical to get an experienced partner, noted SERHANT. Chief Technology Officer Ryan Coyne. Constellation1's established relationships with 450 MLSs around the country will help SERHANT. almost anywhere it wants to expand.
SERHANT.'s embrace of tech solutions has been critical to its expansion and its plans to reach more markets, Coyne said. "Technology won't replace agents, but the brokerages that don't embrace tech will be replaced by the ones that do."
Chime integrates ChatGPT into its platform
Chime Technologies has integrated ChatGPT's AI functions into its platform, allowing agents to streamline content creation for marketing and communications.
Chime says it is the first real estate technology company to leverage the power of ChatGPT in a practical app for agents.
The app provides a library of templated, popular prompts as well as the opportunity for agents to create their own prompts.
"While ChatGPT is gaining media attention, many companies are quick to claim they offer the benefits of this fast-growing technology," said Henry Li, Chime's chief technology officer. "But most are not equipped to deliver the functionality agents need to be successful in today's competitive market. Our platform has been powered by AI for years, giving our training team the benefit of thousands of real conversations to coach the AI and improve outcomes."
'Alexa, find me a house': HAR launches voice-activated search
HAR partnered with Lundy Inc, a pioneer in voice and AI-driven real estate search tools, to provide the new tool.
Anyone with an Amazon Alexa device can now search for HAR-listed properties by simply saying, "Alexa, launch HAR.com." Consumers can then search properties by address, price range or a specific characteristic. They can also ask to connect to the listing agent and receive notifications when new properties are listed or prices change.
"We believe finding a home should be accessible to all consumers," said HAR Chair Cathy Treviño with LPT Realty. "Buying a home is one of the greatest investments a person will make in their lifetime. With this cutting-edge technology, we can make sure everyone can participate and feel included in the homebuying process."
Arizona Realtors teams up with DirectOffer to break through language barriers
Arizona Realtors also had accessibility in mind when signing on with marketing and lead-gen company DirectOffer. The association's more than 55,000 members will now have discounted access to tech that generates audio property descriptions in 20 languages.
DirectOffer's DO AudioTours product turns traditional property listing photos into multi-language tours of a home. Listing agents can either add their own voiceovers to listing photos or use the program's natural language processing to auto-generate a description in over 20 languages in both voice and closed captions.
"Arizona Realtors partnered with Direct Offer's patented technology to enhance the accessibility and reach of property listings in our diverse market," said Dan Pemberton, Arizona Realtors' director of business technology and communications.
"By converting listings into audio tours in over 20 languages, the partnership aims to break language barriers and cater to a broader audience of potential buyers, ensuring a more inclusive and immersive homebuying experience for all.
Design tech company Modwell partners with top Christie's agents
Modwell has partnered with Christie's International Real Estate to offer its suite of real estate listing solutions to a select group of the firm's agents.
With the new partnership, 50 of Christie's Masters Circle agents will have access to Modwell's proprietary tech-based design platform, enabling them to showcase their listings in new and more compelling ways.
Modwell's suite of tools includes:
Enhanced Listings, which applies 3D scanning and modeling technology to an existing listing.
Next Gen 3D Showrooms, a virtual "warehouse" that curates an individualized aggregated listings experience and helps agents showcase featured properties.
Consumer Home Vaults, a referral tool that allows agents to invite clients onto Modwell's platform in order to fully document their home by uploading their surveys, floor plans, 3D models and more.
"Technology has enabled consumers to change how they live their lives ... While home buying should be no different, and 97% of consumers use online tools when buying a home, listings have remained legacy based," said Modwell Co-Founder Jonathan Reisman.
"Modwell is changing that paradigm through advanced technology, and we're excited that Christie's International Real Estate's top agents will be able to leverage our platform in a way we think will help them sell more," he added.
LeadingRE adopts Rechat app
Rechat is a mobile-first app that integrates a marketing automation suite, CRM and transaction management solution.
"Rechat's super app is a time-saving ally, automating tasks, simplifying workflows, and allowing agents to focus on what truly matters: building relationships, closing deals, and creating exceptional experiences for their clients," said Jeff Kennedy, LeadingRE's VP of sales and partnerships.
"Together with LeadingRE, we are committed to redefining excellence in the real estate industry and setting new benchmarks for client satisfaction," added Rechat CEO Shayan Hamidi.
Restb.ai Launches valuation product suite
Restb.ai, the visual insights proptech, has announced a new suite of services to modernize appraisals and meet new lender standards.
With more detailed data required for property reports, the new tools will be especially useful, the company said, noting that Fannie Mae is now evaluating photos for condition.
"Restb.ai's computer vision solution empowers the appraisal industry with what it needs for this change by Fannie Mae," said Tony Pistilli, general manager, valuations for Restb.ai.
The company will officially unveil the new products this week at the industry's Valuation Expo in Las Vegas.
Local Logic gets $13 million cash infusion from investors
Local Logic, a Canadian location intelligence insights provider, announced the close of $13 million in Series B financing.
The funding round, led by GroundBreak Ventures and Investissement Québec, included several other prominent investors including Band Capital Partners, an affiliate of Triovest Realty Advisors, Cycle Capital, Desjardins Group, Jones Boys Ventures, Second Century Ventures and Shadow Ventures.
Local Logic plans to leverage this new funding to further help the real estate industry with location insights to understand how the built world impacts the risk and return of real estate investment decisions.