Real estate technology company Homegenius is on a tear, inking its second major brokerage relationship within as many weeks.
Owned by parent company Radian, Homegenius is now going to be put to work by the more than 50,000 agents under the Berkshire Hathaway HomeServices (BHHS) brand.
On May 9, the company announced its place on LeadingRE’s coveted Solutions Provider list.
“Agents are excited about our uniquely sophisticated but brilliantly simple technology,” said Brien McMahon, senior executive vice president, and co-head of Homegenius, in a statement. “We are eager to help Berkshire Hathaway HomeServices use our innovative technology to ‘see’ real estate properties in new ways.”
The company says that it is “leveraging advanced technology and the latest developments in data science, machine learning and artificial intelligence” in its efforts to bolster the way brokerages and agents operate.
Marketing-speak aside, the company’s newly released tools are backed by years of rather under-the-radar industry expertise and development, as they are only now emerging with consumer- and agent-facing products.
Publicly traded Radian (RDN) has been a significant player in mortgage, underwriting, mortgage risk analysis, title and other critical, but less evident components of the business requiring extensive data insights and applications. It was founded in 1977.
Homegenius is its newly minted agent and brokerage proptech brand, and under it, the company has rolled out a tool for market pricing strategy and comparative market analysis, called Geniusprice. The solution uses live market data, dynamic, deep-data searches to build listing presentations and market summaries for buyers.
When McMahon said his company will help BHHS agents “see” homes in new ways, he’s referring to Geniusprice’s use of computer vision.
The technology reads image meta-data to identify interior finishes, appliances and other home characteristics, and apply that information to the consumer and agent search experience. This can empower home shoppers to quickly and directly compare specific rooms of homes on their tour list, and search for other unique amenities. It can also be used to show how seller design choices can affect price and drive buying decisions, and thus, impact a CMA.
“By leveraging powerful computer vision technology, Homegenius’ revolutionary property intelligence engine has made the traditional comparative market analysis report obsolete,” said Jose Perez, senior vice president of business development for Homegenius. “With the opportunities provided by this relationship, Berkshire Hathaway HomeServices’ network agents can save time, streamline their workflow, deepen their market analyses, and build their pipelines of qualified leads.”
Homegenius also offers transaction management within Genuity, blockchain-backed title services through Titlegenius and other brokerage-facing business technologies.
