A new artificial intelligence tool is transforming the homebuying experience for Americans everywhere.
Redfin has teamed up with Sierra AI to launch a new AI-powered conversational search tool designed to interact with homebuyers the way a real estate agent would. The technology does away with one-dimensional search filters and instead allows users to describe what they want in their own words to find the perfect homes.
“We’re the first to offer conversational search and the reason is Sierra, our engineers collaborating with Sierra, could see what conversations people are having about real estate search and then make them better,” Redfin CEO Glenn Kelman told FOX Business Liz Claman on “The Claman Countdown.”
“We wouldn’t have been able to do that without you, [Sierra CEO and co-founder] Bret [Taylor].”
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Taylor, who is also chairman of the board of directors of OpenAI, explained the tool is all about “focusing on the consumer.”
“There was never a checkbox for, ‘I want a cottage-like feel. I want good, natural light in my house,’ and now (you) can just have a conversation,” Taylor said. “I’m hoping it will help people find their dream home.”
Kelman said that the conservations on the app can “change the course of history” for homebuyers. While people previously gave up on buying after seeing many pictures of houses they could not afford, this tool can help them get closer to what they are looking for, he said.
“We can tell people, ‘What about this neighborhood which you hadn’t considered? What about this listing? It’s exactly what a human real estate agent would do, except it’s available 24/7, and it has instant access to 2 million listings,” Kelman pointed out.
Real estate agents may also be excited about the new tool because many people who start home searches do not end up finishing them.
“AI has helped us guide people through the whole experience so much better, so that when they get into a neighborhood they can’t afford, we suggest a different one so that, when they find a house they like, but that has the wrong kitchen, we can extract the other characteristics and then find a home with the right kitchen,” the Redfin CEO said, explaining agents are still needed.
The tool is expected to be a major help to homebuyers.
“It is so much more powerful than whatever we could offer before because we can help families break through and find a place that they thought they could never afford,” Kelman said.
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