talk data

Talk Data to Me: Real Estate Analytics and the Voice Search Revolution

“Alexa, open Real Estate.”

“OK. What’s your price range?”

Don’t be surprised if this becomes a common conversation held by a potential homebuyer and their smart speaker. The studies all show that voice search is growing exponentially. Google voice search queries were up 35 times from 2008 to 2016, according to Google trends. According to the latest forecast from emarketer.com, the number of smart speaker users in the United States will rise at a compound annual growth rate of 47.9% between 2016 and 2020, jumping from 16.0 million to 76.5 million users. The smart speaker is not going away. In fact, the same emarkerter.com report claims that a tech device hasn’t been adopted this quickly since the smartphone. It’s no shock— anyone who’s been able to have a question answered by Google or Alexa with hands covered in bread dough understands the power of hands-free searches.

At Terradatum, we’ve provided analytics for the real estate industry since 1989 with two primary objectives. First, we believe that our metrics provide brokers and their agents deep insights into their local markets as a way to connect with and assist potential clients in their journey to buy or sell a property. Secondly, our analytics can help brokers track agent performance as a way to both recruit up-and-coming agents to their teams and also to train existing team members, using our numbers as coaching tools. Our programs provide an interactive interface designed to zero in on specific areas of interest, from analyzing market share to spotting market trends.

Now that the quick-and-dirty introduction to Terradatum is out of the way, you may be wondering, “Why does the data analytics guy care about voice search?” As our company studies how the real estate industry continues to access and develop deeper industry insights, we want our hyperlocal analytics to be available when, where, and how the public wants their content delivered, now and looking towards the future.

The trends don’t lie, and that’s why we’ve found it of key importance to make our analytics available in the voice search realm. We’ve partnered with Voiceter Pro, a voice search company that is revolutionizing artificial-intelligence-assisted searches in the real estate market. Voiceter Pro has created a sales, marketing, and lead generation tool that enables brokers and their agents to turn consumers’ real estate searches via Amazon Echo and Google Home into qualified leads (as buyers, sellers, and renters). Leveraging home artificial intelligence devices enables brokers and agents to reach potential clients across America through a rapidly-growing, but still underutilized method of content delivery. Voiceter Pro as a company who has found the gateway for real estate in the voice search revolution.

It’s easy to imagine how many real estate conversations begin around the dinner table:

“Is it time for us to get a larger home?”

“I’ve always wanted property on more acreage.”

“Could we afford a three-bedroom home closer to the city?”

Voice search devices can now join in on these dinnertime conversations, sharing specs on viable properties within a potential buyer’s desired parameters. AI-search devices of the near future will be programmed to be increasingly more intelligent—Google’s CEO, Sundar Pichai, said at last year’s I/O conference that Google is taking an “AI-first” approach to their business —and a recent Harvard Business Review piece predicts that devices will be more able to interpret and react to human emotion. A relatively recent addition to the AI home assistant is the pairing of a screen, such as with the Amazon Echo Show and the newly-released Google Smart Display. Rather than typing in keywords and waiting for responses, prospective homebuyers can appreciate receiving slideshows or video tours of available properties, all without lifting a finger. The process of procuring a property can be arduous, and it’s a benefit to the real estate industry to capitalize on any method that will make one of those steps easier for buyers.

Since the beginning of time, people have been searching for answers—the only thing that has changed is their method of asking. As prospective buyers find new and exciting ways to search for their dream home or connect with a passionate agent, pioneering brokerages will see that real estate voice search is a path to the future and find a presence in the Wild West of real estate lead generation. More than ever, brokers and agents need to be informed and able to track and predict market trends. We at Terradatum will continue to focus on providing answers in the form of up-to-date, hyperlocal metrics, delivering our analytics in whatever capacity the future offers. We are thrilled that Voiceter Pro saw a window in the market, and we are happy to partner with them as they pave the way for a new method of searching for real estate.

Propmodo is a global multimedia effort to explore how emerging technologies affect our built environment.

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