Mike Davis and Marta Maletz discovered a 'new' way of creating awareness about sales in the real estate market. They have started using the Web to create listings of properties using GPS and positioning software to point out where their properties are.
It wasn't the same all those years ago, Davis said. Forbes pointed out Davis' thoughts, saying that all those years ago, print ads were in demand. Publications like NY Times, Village Voice and simple websites were the norm. It was five years ago when aggregator websites like Zillow came on the scene, collating information from real estate listings, and the face of sales was never the same.
It was during last year that real estate sales were boosted by a new method--using technology, company Compass started to create functionality for the 'for sale' sign. Smart signs have begun to be developed, and Maletz and Davis were a few of the lucky ones to have the foresight to use these signs.
There are a lot of applications that Compass' sign can be used for. Lighted signs, as well as other listings from the NYC brokerage, have been implemented in a few apps. Inman reported that the real estate signs are also coming to a new format--signages are coming to popular navigation app Waze.
It should help people who are actively looking for real estate. The signs will feature a listing's agent's name, contact information, and will also ping nearby potential customers about the property's availability. These signs will be seen as map pins on the navigation app, offering easy access to people about vacant properties in their area.
Drivers are informed of the proximity of available properties as the signs light up when they get within 20 feet. Buyers can then decide whether to go there or not by tapping on the sign. Compass CTO Joseph Sirosh relayed that this has effectively changed how real estate signs are being used, and how people discover available listings.
There are a lot of innovations available in the app, such as the use of AI to create pricing for homes, recommendations, and create the process of transacting with a nearby customer. Compass is creating a truly unique approach, and these are exciting times for real estate.
The company has reiterated its aim to create a partnership between man and machine, a disruption of the real estate market--just like blockchain--and just generally creating an efficient, better way of doing things.
