Robot outshines Denver real estate brokers in recommending homes

Thursday May 12, 2016 0 comments Tags: Denver, QValue, Creed Smith, John Rebchook

DENVER --  Over three days, a robot (computer algorithm) competed head-to-head with three highly experienced  Denver  real estate brokers to see who recommended homes a buyer most preferred. QValue_logoUSE

The buyer consistently ranked the homes suggested by the robot as their first-choice favorites all three days.

The public's interest in home search and technology is exploding as demonstrated by more than 123 million unique visitors per month to the top 15 U.S. real estate web portals.

The home search algorithm tested in Denver may offer an automatic means for finding homes they love.

Inman News conducted the contest April 27, 28, and 29, presenting the results May 10. Details are at QValue, who provided the "robot" algorithm via REalMARKABLE.com.

Participating brokers' information is at Inman News. Local real estate expert John Rebchook acted as the buyer for the experiment.

Each day started with the buyer identifying a sample home they truly liked. It was the job of the broker and robot to each suggest homes they hoped would be as emotionally stimulating to the buyer as the sample home.

Daily, the broker and the robot returned three homes to the buyer, who then rank ordered, for very personal reasons which they did not have to explain, the homes they most liked: 

Day 1

  • Favorite home came from the robot.
  • Second most favorite home came from the robot.

Day 2

  • Favorite home came from the robot.
  • Third most favorite home came from the robot.

Day 3

  • Favorite home came from the robot.
  • Second most favorite home came from both the robot and the broker.

"The algorithm's recommendations consistently placed two homes within the top three buyer choices each day, and placed as the buyer's No.1 favorite home every time all three days,” said Creed Smith of QValue.

“This tells me the algorithm can indeed suggest homes based on emotionally triggering qualities buyers desire (qualitative criteria), and has moved far away from primitive current strategies used by all other websites, portals, and including all broker MLSs, which search by quantitative measures such as price range and bedroom counts

For more information, contact Amber Taufen, editor-in-chief at Inman News, at Email or 720.635.9065, or Creed Smith at Email , 303.906.6915.