Tech Time – Start-ups, Stalwarts and Shutdowns

Innovative entrepreneurs and their venture capital backers continue to see real estate and technology as the winning combination. Whether bootstrapped, venture-backed or publicly owned, the big players in real estate tech keep making news:

 

  • OJO Labs raised another $20 million to further the development of their AI-driven personal assistant for real estate pros and homebuyers. Check out the WAV Group article that describes how the OJO Labs AI solution uses mobile messaging and Web experiences to reinvent the homebuying process for those almost-buyers who aren’t quite ready for agent interaction.
  • Ground Control by Radical Galaxy Studio takes preconstruction virtual-reality property tours to a new level without requiring those bulky VR headsets. Great news for the 77% of potential homebuyers that they claim would like to see a virtual tour of a property before seeing a listing in person.
  • Lone Wolf Technologies will soon be launching Link, their two-way integration between TransactionDesk and brokerWOLF that makes the transaction more seamless for all involved.
  • LionDesk, the real estate CRM platform, announced Lead Assist™, an AI-powered assistant nicknamed Gabby that helps busy agents qualify incoming leads while they focus on more productive tasks.
  • Compass Anywhere now allows any agent to work from any office, which is a real benefit in many of the major metros.
  • Zillow made big news last month by doubling down on the iBuyer model and just announced their new “Tour It Now” technology, which will allow potential homebuyers to tour homes for sale via an app – instead of by appointment or through an agent. Of course, this is only made possible with Internet of Things technology or “IoT” sensors in the homes that can capture photos and detect movement.
  • Riley, the lead qualification startup that was founded in 2015, announced on LinkedIn that it would be shutting down. Issues ranging from scalability to customer churn and new competitors were cited as some of the primary causes that led to the decision.

And on the business side, Redfin and Re/Max will be partnering while Coldwell Banker unveiled its first rebranding in 40 years, making for plenty of watercooler talk in real estate circles.

It seems spring is in the air and new opportunities are appearing everywhere.

Until next time,

Marvin

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