Key facts
- Google is piloting a feature that displays home listings directly within its search results.
- The feature is currently in a national pilot phase on mobile devices.
- HouseCanary is partnering with Google as a data provider for the listings.
- Some industry leaders, like Dan Snyder of Lower, view Google's move as a competitive threat.
- Large language models are expected to become the primary method for real estate discovery within five years.
- Executives believe AI will amplify top performers in real estate and mortgage origination, rather than replace them.
Artificial intelligence is rapidly transforming the real estate industry, with major players like Google and Lower aiming to capture the new landscape. At HousingWire's AI Summit in Dallas, executives discussed how AI is reshaping property discovery, lead generation, and the mortgage process.
Dan Snyder, CEO of Lower, outlined his company's strategy of acquiring assets like Movoto and NeatLabs to create a seamless, end-to-end platform from property search to loan closing. He emphasized the speed of AI-driven product development and the advantage of owning underlying technology.
Chris Rediger, CEO of HouseCanary, detailed a three-year partnership with Google that integrates home listings directly into Google search results. This feature, currently in a national mobile pilot, aims to provide a quick, top-of-funnel experience. Rediger clarified that it is not intended to replace traditional real estate portals but rather to offer an immediate glimpse of available properties and local agents.
Snyder, however, expressed a more competitive view, stating, "Sounds like competition to me." He suggested Google's ambitions could extend to disrupting the entire real estate and mortgage ecosystem.
Both executives agreed that large language models (LLMs) represent the next frontier, potentially becoming the dominant discovery method within five years. They also stressed that AI is likely to amplify the value of top-performing human agents and loan officers, while reducing the number of mediocre professionals in the industry.
Operational challenges, such as understanding the economics of AI implementation and token usage, were also discussed. Snyder highlighted the importance of winning the 'ground game' by effectively distributing leads to local originators and collaborating with real estate teams to improve conversion rates.