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AGENDA
▪ Introductions▪ Big Picture/Structure▪ Technology Trends▪ What does this mean?▪ Outreach/Collaboration ▪ Conversation & Input
Dave Conroy▪ Director, Emerging Technology▪ Spent 10+ years in technical roles assisting Real Estate
associations at the local, state, and national level▪ Strong experience with:
▪ Real estate standards▪ Opensource technology▪ Blockchain and distributed ledger technologies▪ Prototyping, software design, management, and
networking.
Dan WeismanDAN WEISMAN▪ Director, Emerging Technology
▪ 7+ years in the construction tech space▪ Passionate about improving business performance
through the use of technology▪ Operational driven▪ Enjoys networking and collaborating▪ Learning and solving problems▪ Executing strategic projects and seeing results
STRATEGIC BUSINESS, INNOVATION & TECHNOLOGY (SBIT)
Mission▪ Help Members of NAR become more profitable
and successful.
▪ Drive industry innovation and benefits to members through strategic relationships with a broad range of business and technology players.
SBIT CORE PRINCIPLES
▪ Drive member value: Provide members with innovative tools, products, services, education, policy support and other value.
▪ Drive financial return / return on investment:▪ Revenue and royalties to NAR▪ Cost savings on products and services▪ Financial return on strategic investments
▪ Not invented here (NIH): the focus of SBIT will be to drive member value and financial return through strategic relationships, partnerships and investments. It will NOT build or develop products or create companies.
EXPAND NAR TECH INITIATIVES
PRIMARY FOCUS
▪ Identify, research, and analyze emerging technology ▪ Become domain experts▪ Develop balanced, insightful positions ▪ Create and disseminate actionable content ▪ Be NAR’s voice of technology▪ Influence standards organizations
TECHNOLOGY TRENDS FOR 2020
▪ IoT▪ 5G▪ Renewable Energy▪ Building Materials▪ Drones▪ 3D Printing▪ Smart Homes▪ Data Privacy / Security
▪ Blockchain▪ AI/ML▪ VR/AR▪ Ransomware▪ Big Data/Analytics▪ iBuyer▪ Personal Safety▪ Ongoing…
ARTIFICIAL INTELLIGENCE
AI APPLICATIONS IN REAL ESTATE
REALTORS®
Qualifying Leads/ Matchmaking
Augmented Property Valuations
Intelligent 24/7 Concierge Services, Voice Assistants
BrokeragesSmart CRM
Enhanced Agent Recruitment
AssociationsMembership Retention and Churn Prediction
Conference Attendance Prediction
Property ManagersPredictive Maintenance
Optimized Energy Usage / Consumption
Occupancy & Threat Detection
ARTIFICIAL INTELLIGENCE AS A SERVICE
ARTIFICIAL INTELLIGENCE AS A SERVICE
ARTIFICIAL INTELLIGENCE AS A SERVICE
ARTIFICIAL INTELLIGENCE AS A SERVICE
AUTOMATED VALUATION MODEL (AVM)
▪ What is AVM?▪ a term for a service that uses mathematical modeling combined with databases
of existing properties and transactions to calculate RE values
▪ Where does the data come from?▪ MLS▪ Assessor's office▪ Sales▪ ATTOM, CoreLogic, Freddie Mac, VeroValue, Equifax
AUTOMATED VALUATION MODEL (AVM)
▪ AVM vs.▪ Sale price▪ Assessment
▪ Applications of AVM▪ Comps/CMA▪ Zillow - Zestimate▪ iBuyers
AUTOMATED VALUATION MODEL (AVM)
▪ Sample – on vs. off market
On
Off
AUGMENTED, VIRTUAL & MIXED
REALITY
AUGMENTED REALITY
▪ Adds digital elements to a live view▪ Often done with a phone or tablet▪ Examples: Pokémon Go, Snapchat, TikTok
AUGMENTED REALITY
AUGMENTED REALITY
VIRTUAL REALITY
▪ Complete immersion experience that has you enter another world/space
▪ Headset: Vive (HTC), Oculus (Facebook), Cardboard (Google)▪ Examples: Virtual walk through, Immoviewer/Matterport
FB Oculus Google Cardboard Vive
VIRTUAL REALITY
Matterport
VIRTUAL REALITY
Immoviewer
MIXED REALITY
▪ Combines AR and VR – real world and digital world interact (next gen AR)
▪ Headset: HoloLens 2 (Microsoft)▪ Examples: Overlay info/images over existing. Staging, remodel,
product data
HoloLens 2
MIXED REALITY
BLOCKCHAIN
BLOCKCHAIN
▪ What are Blockchains?▪ Are systems that maintain an ever-growing list of records or transactions
▪ What makes these systems different?▪ Records added to this list are permanent, and easily audited by all parties
involved.
▪ How and Why was the Technology First Used?▪ Bitcoin, launched over ten years ago as a digital currency system that
didn't require a centralized party or bank.
✓ Distributed
✓ Immutable
✓ Verifiable
CORE TENANTS & USE CASES
Title
Instantly verifiable proof of who owns the property and whether there are any open claims against that property.
Automated Legal Agreements
Utilizing smart contracts - leases, purchase and sales agreements could be made programmable
Payments
Reduce settlement time to seconds instead of days, while only costing pennies in transaction fees
▪ What Companies are involved Blockchain?▪ The largest players in tech and major financial institutions all have
major initiatives around promoting the use of blockchain.
▪ Plenty of startups working, including two companies (Propy & RE Consortia) that are a part of the 2019 NAR real estate accelerator, REACH.
BLOCKCHAIN
RANSOMWARE & SECURITY
RANSOMWARE
▪ is a type of malicious software, or malware, designed to deny access to a computer system or data until a ransom is paid.
▪ typically spreads through phishing emails or by unknowingly visiting an infected website.
▪ can be devastating to an individual or an organization.
RANSOMWARE
▪ 41,686 incidents with 2,013 confirmed breaches.▪ 66% by outsiders and 34% were internal▪ 52% of breaches by hacking▪ 28% by malware (90% via email)▪ 33% via social attacks (up 16% from last year)
▪ 56% of breaches took months or longer to discover
▪ Average cost of a breach to businesses was $3.86 million
RANSOMWARE
▪ 15% of breaches directed against healthcare
▪ 43% against small businesses, including associations.
▪ Number one motive is financial gain (71%) with 32% involving Phishing and 29% involving stolen credentials.
▪ Often caused third parties who have access to your systems.▪ Payroll▪ Cloud Services▪ Anything not hosted at your organization
RANSOMWARE
▪ Baltimore City (May 2019)
▪ Permits, Utility Bills, Whole City shutdown
▪ First American Financial Corp (May 2019)
▪ MetroList (June 2019)
▪ Lake City Florida (June 2019)
WHAT IT MEANS FOR YOU
WHAT DOES IT MEAN FOR YOU
▪ AI▪ Decades of research is now becoming available to startups and
enterprises alike▪ It is affordable, powerful, and making an impact today and an even
larger one soon ▪ Re-evaluate your product offerings
▪ Automated Valuation Model (AVM)▪ Data to determine values of homes with a high level of accuracy will
be at our fingertips soon▪ Use the data you have access to
WHAT DOES IT MEAN FOR YOU
▪ Augmented and Virtual Reality (AR/VR/MR)▪ The ability to interact and see homes virtually is here. ▪ It will get better and expect buyers to want to visualize what ”their”
home might look like. ▪ Be ready to provide the virtual space as a starting point
▪ Blockchain▪ No action items today as the technology is not consumer or agent
facing ▪ But large potential impacts due to smart contracts, title, and
payments.
WHAT DOES IT MEAN FOR YOU
▪ Ransomware/Security▪ Be proactive, not reactive▪ Call, don’t click▪ Do not leave this to hobbyists▪ Consult professionals▪ Consider insurance
▪ NAR Tech page ▪ Videos on topics & big news▪ Participate & present at leading RE
conferences & events▪ Collaboration across the industry
STAY UP TO DATE & COLLABORATE
▪ NAR Members & Leadership▪ Facebook, Google, Apple▪ Federal Technology Policy
Committee▪ Emerging Business Issues &
Technology Forum
CONVERSATIONS & INPUT
linkedin.com/in/danweisman/ linkedin.com/in/conroydave/
DAN WEISMAN DAVE CONROY
TECHNOLOGY TRENDS FOR 2020
▪ IoT▪ 5G▪ Renewable Energy▪ Building Materials▪ Drones▪ 3D Printing▪ Smart Homes▪ Data Privacy / Security
▪ Blockchain▪ AI/ML▪ VR/AR▪ Ransomware▪ Big Data/Analytics▪ iBuyer▪ Personal Safety▪ Ongoing…
Please take a moment to let us know your thoughts about today’s webinar: Webinar Evaluation
Webinar Affidavit
• January 17 – When the Client is Looking at an iBuyer – Barbara Betts, CRS – REGISTER• January 21 & 22 – New Homes Webinar Series – REGISTER• January 27 – Pre-Marketing the Listing – Matthew Rathbun, CRS – REGISTER• January 29 – Hiring the RIGHT Person the FIRST Time! It's a System! – Debbie Yost, CRS - REGISTER• January 30 – Top Ten Tips You Can Implement Now – Leigh Brown, CRS - REGISTER
REGISTER
linkedin.com/in/danweisman/
linkedin.com/in/conroydave/
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