Homie, a technology company that automates and streamlines real estate transactions was conceived and launched in 2015, in the state of Utah. The property portal assists potential buyers and property sellers in handling much of the transaction online providing experts when they need them and promising to keep fees affordable.
Because of its newer and sprawling suburbs filled with tract homes, Utah has become a perfect market for a site such as Homie. A potential buyer isn't forced to physically visit each house in the neighborhood since they’re all pretty much laid out in the same manner. And since Utah has attracted more people from out of state, due to its booming tech scene, sales are surging. Along with the mini 'Silicon Valley' blossoming in the region, Utah is also chock-full-of outdoor recreations and the cost of living is significantly lower than in neighboring states, which is attractive to young families who need homes.
With younger - millennial - buyers and sellers who are not too thrilled with the middleman taking their money, perhaps this is indeed the way of the future - Artificial Intelligence may just take over agents' jobs. In the meantime, it should be interesting to see how Homie weathers in other markets before we resign ourselves completely to a "robot ruled world."
Join us in Bangkok from the 28th of February to the 1st of March for the 22nd Property Portal Watch Conference. The theme for this year is The Future of Online Real Estate Marketing – Getting Closer to the Transaction.