RealReports goes beyond beds, baths and budgets to provide AI-powered solutions that help real estate agents better understand how conditions around and in a home affect its value.
Held July 30-August at Inman Connect Las Vegas. On January 1, 2024, the noise and misinformation will be cut away, all your big questions will be answered, and new business opportunities will be revealed. join us.
RealReports is a real estate data marketing solution powered by artificial intelligence
platform:Web; fully mobile responsive
very suitable: Buyer’s agent, investor
Hot selling points:
• Aiden Artificial Intelligence Assistant
• Community/Market/Regional Data Coverage
• Document processing/analysis
• Does not use MLS data
• Instant, iterative map views
Top concerns:
Agents are still piecing together various sources of sales support and market data. It will take some time for the industry to break out of contracts and habits to rely on single sources like RealReports and its colleagues in the field.
what you should know
RealReports was spun out of a remote technology-forward brokerage called Torii Homes, which focused on helping its agents quickly provide consulting services when working with clients over the Internet. In short, it’s a byproduct of improving brokerage operations, much like the Ford Motor Company’s Kingsford Charcoal was born out of an assembly line.
RealReports now has its own corporate and agent-led productivity solutions, providing a single source to quickly understand and share everything happening in and around the home. Each user has a well-branded account front-end that can be shared with consumers, but I feel it’s best used as an internal value provider or presentation tool.
Each listing entered into RealReports produces a carefully designed breakdown of the environmental, municipal, community, structural and economic drivers of home value. The left navigation makes it easy to jump to local subdivisions, nearby home values, points of interest, or long- and short-term rental potential.
Savvy agents should consider honest reports as a valuable tool for comparing homes before making an offer, especially in a market like this. Bed, Bath and Budget is just the beginning; real reporting is woven into the home’s DNA.
I dug the map feature, which is located on the right column and interactively responds to the visualization for each category reviewed.
If you’ve read my reviews of TopHap, Revaluate, and most recently Land id, then you know that I have no shortage of love for maps. There is real power in the overhead view of the real estate market, both literally and figuratively. We often view data in numerical, flat, and clinical formats. Understanding how data impacts the space around it provides a valuable new perspective, which is a nice touch that I think could add more value if highlighted further.
When it comes to the focus, most of it has to be placed on Aiden, the smart report translator at Real Reports. Zach Gorman, who presented the demo, called Aiden the “mouth” of the software and the reporting as the “brain.” make sense.
Aiden can answer specific questions contextually without going into the details of each source set. If your buyer wants to know if they can add an ADU, ask Aiden about the zoning status. How many dog-friendly cafes are there nearby? Is there a Montessori school within walking distance? Aiden has your back.
The more you ask, the sooner you’ll benefit from the Real Reports value proposition. In a personal briefing, this would be a super clever way to answer a buyer’s question and avoid the classic “I don’t know, but I can find the answer for you.”
Aiden also specializes in real estate documents, being able to parse the language of a contract or agreement in seconds, meaning when you need to see terms, dates or key terms, just ask a question and get an answer. Cool stuff.
Aiden from RealReports is the latest in some of my most impressive experiences of what artificial intelligence is doing for the industry. That’s exactly what Pritesh Damani, chief technology officer at The Real Brokerage, told me, saying that without internal data, artificial intelligence is “extremely” worthless.
In such a short period of time, artificial intelligence has contributed greatly to real estate productivity; you just haven’t fully realized it yet, because a strange market has barely given it the light of day to prosper. But this shutdown has been good for it.
Do you have a tech product you’d like to discuss? Email Craig Rowe
Craig C. Rowe got involved in commercial real estate at the dawn of the dot-com bubble, helping a range of commercial real estate companies strengthen their online presence and analyze internal software decisions. He now helps agencies with technology decisions and marketing by reviewing Inman’s software and technology.
