Prepared for Tomoe I. | Delivered November 6, 2019
Use of Technology in Real Estate
To obtain 2-3 case studies of US real estate companies (for example Zillow, RedFin, Realtor.com, etc) that are using (or plan on using) artificial inteligence (AI) or machine learning technologies.
was founded a year ago by Ruth Shin, a licensed real estate agent in New York City. Using a proprietary algorithm, PropertyNest's site helps New Yorkers to
buy or rent
a new home based on their credit score and their most desired features.
People are matched to properties through a
process that includes credit score, savings, and income, among other financial qualifiers.
People who wish to find a listing can input their
, including income, credit score, extra savings, and information about their guarantor. After finding the desired apartment, the PropertyNest algorithm tells a customer the likelihood of being approved.
By focusing on the New York City market, PropertyNest's business is now
is another major brand that is using technology in the US real estate market. This company has earned a reputation similar to Xerox or Kleenex amongst real estate consumers. Several technology startups have invested billions of dollars into real estate, thereby creating a new industry known as "
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