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An AI-powered platform that offers a personalised search experience has big plans to close out the year.
Homes.com.au has reported that it is heading for 70 per cent market coverage by the end 2023.
The Melbourne-based proptech, which was founded in 2018, currently has over 6,500 real estate agencies placing listings on the platform, including the majority of Australia’s biggest franchises. With currently over 65 per cent market coverage of all residential sales listings, Homes.com.au is aiming to round that figure out in the space of a month.
Using artificial intelligence (AI) to determine buyer intent and direct them towards appropriate listings by integrating natural language processing (NLP) and computer vision to catalogue property features, the platform aims to offer a buyer experience that takes some of the hassle out of online searches.
The platform’s AI guides the buyer through one question at a time to reveal what is important and shows a personalised selection of properties.
The more the buyer interacts with the platform, the more the search results are refined. Prospective home owners can also utilise different search methods based on their priorities, such as the property characteristics or lifestyle requirements.
The service is free for buyers to use and includes features such as a calendar tool to track inspections and auctions, plus an online collaboration space to share selected properties with others.
Andre Costa, Homes.com.au CEO, said the firm’s market share growth speaks to the platform’s appeal – shared by buyers and agents alike.
“Our Australia-wide user numbers are currently growing by 20 per cent month on month,” he said.
And while buyers report good responses to the personalised feel of the search experience, agents have been pleased at the buyer pool that the platform helps facilitate.
“Real estate agents get warm leads from qualified buyers who are ready to inspect and take the next steps,” he said.
With 70 per cent market share looking to be a certainty by 31 December, the firm is already focusing on its next big milestone.
“Next year, we’re aiming for 90 per cent coverage. We’ll also be rolling out some exciting new features for advanced consumer profiling, multiparty collaboration and sophisticated lead gen solutions for agents,” Mr Costa said.
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