Real estate brokerage franchise Realogy Holdings Corp. is partnering with artificial intelligence tech startup OJO Labs to bring its machine-learning powered OJO assistant to its real estate agents.
The technology will be made available to agents affiliated with the company’s brands, which include Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker, Corcoran, ERA and Sotheby’s International Realty.
OJO is a conversational AI-powered digital assistant that’s designed to help speed consumers along the way throughout real estate transactions. Realogy said OJO is focused on helping consumers identify their lifestyle, neighborhood and home preferences to deliver more customized information. In turn, this will mean consumers have a greater advantage in finding their ideal property, the company said. OJO nurtures communication with consumers throughout the research process until they’re ready for direct communication with an agent.
The main advantage for sales agents is the technology enables them to focus their time on buyers and sellers who are more likely to transact. Participating brokerages from the Realogy Franchise Group and NRT will be determined in the next several months as the companies move from the planning phase to execution.
“In the discovery phase of the home buying and selling process, consumers often are not ready to speak to someone yet and don’t want to be sold by third parties looking to inundate the client as a lead,” said John Berkowitz, co-founder of OJO Labs. “OJO helps consumers navigate the early processes of buying or selling in the most effective way.”
OJO Labs engineered a patent-pending technology to enhance the home decision process by creating a highly personalized, consumer-centric experience through the fusion of machine and human intelligence. “When we connect consumers with Realogy’s affiliated agents we will be delivering a more engaged, informed and ready client,” added Berkowitz. “Consistently communicating with, and nurturing home buyers and sellers as they explore the decision-making process gives them the comfort and privacy that will ultimately deepen the connection to the agent.”
“In determining who we brought this powerful technology to market with, it was very important to us that we found a company deeply committed to its affiliated agents and to working with business partners who are truly interested in innovation. It is clear there is an extremely impressive team at Realogy that is laser-focused on pushing the industry forward and creating meaningful value,” noted David Rubin, co-founder of OJO Labs.
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