June is National Homeownership Month. It’s a time to celebrate the American Dream of homeownership and the value it brings to individuals and communities across the country. It is also an opportunity to reflect on how we can improve the experience for homebuyers and make the real estate transaction faster, simpler, and more accessible.
There are many steps on the road to homeownership, but we can unanimously agree that online home search is where the vast majority of buyers begin their journey. They typically go to a real estate site and check out the available listings in their budget, maybe filtering by square footage or the number of beds and baths. It can yield a long list of results that may or may not fit their vision for their new home. Some homebuyers might spend hours looking at hundreds of listing photos, only to find one or two properties that really interest them.
It’s an outdated digital experience, especially by the standards created by big tech and e-commerce giants like Google, Amazon, and others. Today’s consumers have been trained to expect a personalized search experience that can tailor the results to their unique preferences. And as the digital native generations—Millennials and Gen-Z—continue to enter the housing market, home search technology needs to catch up to meet their expectations.
Homegenius Real Estate’s breakthrough, AI-powered home search technology is our first step toward a smarter way for buyers to find their dream home. homegeniusIQ, our proprietary image recognition and photo analysis AI technology, offers a new home search experience, by “seeing” the contents of millions of property photos in an instant, which helps buyers to review and compare available inventory like never before.
1. Turn a vision board into reality with image upload
homegeniusIQ empowers users to upload a reference photo and surface listings that match that home or features. This technology helps buyers find what they’re looking for faster and with more accuracy than conventional search filters. Let’s upload this photo as an example:
homegeniusIQ immediately recognizes that this is a kitchen. It “sees” the condition of the room and identifies key features, including wood floors, stone countertops, kitchen island, hanging light, vent hood, and stainless-steel appliances. Once we apply these filters, it will then find available homes with similar kitchens.
The same process can be applied to virtually any room in the home, which is perfect for someone who has a very specific vision for their dream home.
2. Customize the search room by room with smart filters
homegeniusIQ lets you filter and search based on the condition of each room and more than 50 objects and amenities inside and outside of a home that impact its value. These smart filters enable users to completely customize and personalize the home search based on their unique preferences.
These features are especially useful for buyers who want a turnkey home that doesn’t need any work, or for investors looking for a rehab project.
3. Get a reliable price estimate that considers the home’s condition
Many home search sites offer their own automated value estimate for listings, but as real estate professionals are well aware, they are often inaccurate and unreliable. The geniusprice estimate embedded in the homegenius Real Estate search portal is powered by homegeniusIQ to deliver a more accurate assessment of value that factors-in the property’s condition and contents.
With homegeniusIQ, homegenius Real Estate creates a significantly better, more personalized experience for buyers as they take the first step in their journey to homeownership. To test drive the next generation of home search, visit homegeniusrealestate.com.
About homegenius
At homegenius, we’re transforming real estate transactions from beginning to end. We know that real change takes more than a bold vision. It requires decades of hard-earned experience, trusted relationships, and a capacity for connecting people and technologies across the real estate spectrum.
© 2023 homegenius Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Real estate services provided by homegenius Real Estate LLC and homegenius Real Estate Inc. (collectively dba homegenius Real Estate), each a subsidiary of homegenius Inc. 7730 South Union Park Avenue, Suite 400, Midvale, UT 84047. Tel: 877-500-1415. homegenius Real Estate LLC and its wholly owned subsidiary are licensed in every state and the District of Columbia. homegenius Real Estate makes no express or implied warranty respecting the accuracy of room condition scoring provided through homegeniusIQ, property description, condition or measurements (including square footage) and assume no responsibility for errors or omissions. This communication is provided for use by real estate professionals and mortgage professionals only and is not intended for distribution to consumers or other third parties. This does not constitute an advertisement as defined by Section 1026.2(a)(2) of Regulation Z.