Arizona realtor comments on agents
By Brad Inman | inman
n the movie Jack and the Giant Slayer, the towering giants quickly descended from the beanstalks, provoking fear as they tried to conquer the Kingdom of Cloister.
With a sudden ferociousness, data scientists are charging into the real estate village, rattling the industry by changing how people sell their homes.
Consider the well-funded techno house flippers — Opendoor, Knock and OfferPad — who together have raised a staggering $1 billion in venture, debt and private equity funding. These are not mom and pops who staple signs on utility poles offering to buy your house, “1-800-Pay-Cash.”
Yes, whale-like investments are being poured into buying houses. But they are also funding smartypants data scientists and their algorithms for pricing houses and for finding homesellers. Plus, they are testing a variety of online features that allow for instant showings and offers and quick closings.
