iProperty Group CEO Georg Chmiel told this year’s Property Portal Watch Conference in Bangkok its new real estate bot Rebecca is paving the future of real estate portals by collecting valuable data about buyers in the market.
Developed by one of iProperty’s IT team members in his spare time, the Real Estate Bot With Enhanced Communication, or Rebecca, can answer increasingly complex questions from consumers as it learns on the go.
Launched just three months ago in Malaysia the iProperty bot also provides agents with 24/7 support so they never have to miss a call.
“Similar in nature to Siri or Cortana, the bot responds to queries from buyers in the process of researching property and collects data about their transactional behaviour along the way.
“This results in very powerful information iProperty is able to provide to consumers, agents and developers,” Chmiel says.
Rebecca is also capable of sensing the buyer’s emotion such as the intensity of their desire to buy.
“If consumers search in the traditional way by location and price they don’t leave the voice trail or detailed search criteria which is possible for this bot to sense and record.
“As a result there’s far more data in terms of urgency and state of mind which can then be utilized intelligently to help agents close sales.”
Chmiel told today’s Property Portal Watch Conference in Bangkok the success of portals in the future will be measured by the richness of their data in this way.
He says his career in real estate at LJ Hooker and REA Group prior to working with iProperty has given him a good understanding of what data is worth which he made sure to follow through with the leading Asian portal group.
“As a benchmark I can tell you about an office that generated a revenue of one million with a data base of just 20,000 quality content entries,” he told delgates.
Chmiel says the fact that iProeprty has a number one position in the south east Asian market has put it in a better position to generate and create quality data.
He believes now in particular, having been acquired by REA Group there is an opportunity for iProperty to capitalize on the leadership position his company is forging using the approach.
“Once you control the data you can use it in an intelligent way such as emailing marketing information to the right users,” he says.
“It means we are also in a position to generate, aggregate and clean the transaction data.”
As an example of how this data is being monetized, Chmiel points to developers under pressure to sell properties faster.
“We sell developers reports which show the suburbs and types of properties in demand along with the sorts of prices buyers might be willing to pay.
“The developer can then respond by planning and building projects which match the demand and will sell faster.“
Chmiel adds many portals today have problems with the way they extract and present data, especially given the variety of different types of information sets available from listings to social content.
“The trend for the future will be the measurement of interaction data,” he says.
“Every portal should address the needs of the user in this way. Once you understand the buyer you can change the advertising message to fit, putting you, the portal in control.”