At Kukun, we’ve always had a hunch that new technology and data would shape the future of real estate – that’s why we created tools that real estate agents can use to help homeowners see homes’ hidden potential, and the ROI of different home renovation projects. When we sent two Kukuners to Inman Connect 2015 in San Francisco, we didn’t know what we would discover. But after three days of attending sessions and talking with several of the 3,000 event attendees, we gained some important insights – mostly, that data and technology are already changing the way that houses are purchased and sold.
From the workshop about digital marketing to tweets from attendees, it was clear that technology that helps agents help their clients, and data used to identify trends and gain a predictive edge were the big themes this year. Lead generation and providing differentiated client services are also top of mind. To recap, here are some of our favorite insights from event attendees that ended up on Twitter with the #ICSF hashtag:
Perhaps our favorite part of the event was the engaging dialog we had with our fellow attendees about sharing data, especially the data that we use to create the algorithms for our online renovation tools, and the data that our users generate. We learned a lot about how our Projected Home Value tool can give real estate industry pros the data and technology they need to stand out from the crowd, and how we can better serve this demographic. We exchanged ideas with industry leaders about our use of historical, geographical, and economic data in creating our learning algorithm that estimates renovation costs and ROI. These data points include:
- Real estate industry trends
- Reputation of area schools
- Proximity to shops/hospitals/other area attractions
- Health of the local job market
- Permit data
From helping clients see past outdated kitchens by showing them what their renovation will cost and how much equity it will build into their potential new home, to gleaning insights into customer behavior with our data reports, to easily gaining leads through the Kukun Professional Network, we’re aiming to give real estate pros the tech they’re calling for. But we weren’t the only tech newbie on the block at Inman. From technology that helps agents share first-hand knowledge about listings to data companies that provide customized neighborhood info, there are plenty of exciting ways that technology and data are shaping the real estate industry, and we enjoyed learning about all of them at Inman Connect 2015.