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Senso using AI to help lenders identify homebuyers

#artificialintelligence

If mortgage lenders could figure out when their existing customers were thinking about moving, they could offer to help them find their next home -- and prequalify them for a loan. That's the thinking behind two complementary services offered to mortgage lenders by Senso, a Toronto-based fintech analytics startup. Senso Insights employs artificial intelligence to evaluate a lender's existing pool of borrowers to identify those who are actively looking to buy their next home. After calculating each homebuyer's purchasing power, Senso Engage provides them with personalized listings prioritized by neighborhood and affordability, along with access to loan pre-approval. This automated lead-nurturing campaign can help keep borrowers from defecting to another lender.


How robot carpenters could help solve Canada's housing crisis

#artificialintelligence

Promise Robotics CEO Ramtin Attar with a few Kuka Industrial robots similar to ones fitted with custom tooling developed by Promise Robotics to perform complex construction tasks. Robots constructing homes may sound like science fiction. Yet a Toronto-based startup aims to make this futuristic idea a reality within the next year, leveraging advances in automation, advanced manufacturing, cloud computing and artificial intelligence (AI). Promise Robotics was launched in 2019 by founders Ramtin Attar – a former technology lead at a multinational technology company – and Reza Nasseri, the chief executive officer of Landmark Homes. The technology company, which also has operations in Edmonton, seeks to bring emerging technologies to the home building industry to address the industry's biggest challenge: meeting the rising demand for housing amid a growing shortage of affordable homes.


Qindom Cracks the Code for Real Estate Prediction with Quantum Machine Learning

#artificialintelligence

Qindom, the Toronto-based Quantum Machine Learning (QML) start-up, is shifting conventional pricing practices in Real Estate business. Qindom's proprietary AI technology inspired by quantum computing underpins the value of residential properties, addressing the pricing opacity between supply and demand. The team now announces the successful launch of their Real Estate Prediction and Decision Optimization Engine (hereafter, Engine), presenting prominent live results benchmarked against world-leading counterparts. "We found the key to facilitate the trillion US dollars market. Our system carries out accurate predictions on individual home values in Canada and US, and has the potential to untie the knots existing in the home buying, selling and investing process," said Yao Wang, Co-Founder of Qindom, a serial entrepreneur from Alibaba Group.


The City of the Future Is a Data-Collection Machine

The Atlantic - Technology

In Silicon Valley, to make a device "smart" means to add internet connectivity, allowing it to collect, send, and receive data, often while learning and adapting to user preferences. The technology industry has invested wholesale in the idea that "smart" means better, and so we have smart speakers, smart thermometers, smart baby monitors, smart window shades, and smart sex toys, all perpetually collecting rich user data to send back to company servers. Soon enough, we'll have a smart city: Sidewalk Labs, a subsidiary of Google's parent company, Alphabet, is building one "from the internet up," with help from a series of private-public real-estate partnerships in the downtown Toronto neighborhood Quayside (pronounced Key-side). The project's 200-page wish list of features is astounding. The "vision document" imagines not only the revitalization of a 12-acre plot that has sat largely vacant since its heyday as an industrial port, but its transformation into a micro-city outfitted with smart technologies that will use data to disrupt everything from traffic congestion to health care, housing, zoning regulations, and greenhouse-gas emissions.


OpenHouse.AI: Disrupting Real Estate through Transparency

Forbes - Tech

In the meantime, the market has emerged into an on-demand economy that has been driven by information. Today home buyers' increasing access to information allows them, in some ways, to circumvent the agent. The need for instant gratification and knowledge to find the best value at the lowest cost is slowly evolving this industry. How real estate succeeds in the next decade will fully rely on the changing habits of the home buyer, with an acquiescence to slowly dismantling this market structure to improve buyer access to information, while creating new sources of value. One start-up based in Calgary and Toronto is paving the way for this disruption and is challenging the players: the realtors and the home buyers to think differently about these transactions.


Real Estate Search Engine Powered by Artificial Intelligence

#artificialintelligence

ITRealty intelligently analyzes the multiple listing services (MLS) that brokers and agents use to find/list properties, establish contractual offers of compensation among brokers, and accumulate and disseminate information to enable appraisals. "It does not matter anymore how far in the past comparable properties were sold", says Yuriy Setko, "Our algorithms will analyze where the market was for that particular type of property, in that particular neighborhood in the past, and apply the time adjustment percentage to the selling price to give you that property's market price as if it was sold yesterday." You usually have a good number of comparables to see if the asking price is right". It also helps to precisely determine the market price when putting up a property for sale. ITRealty tracks price drops on MLS, along with other listing analysis algorithms, to find "motivated sellers", as well as drawing supplementary data on real estate not found on MLS.