Realogy Announces Agreement With AI Real Estate Technology Company

On Sep 8, 2017

Realogy Holdings Corp., located in Madison, has entered into an agreement with OJO Labs, Inc., to provide its machine-powered assistant known as “OJO” to real estate sales agents across select markets affiliated with Realogy’s renowned consumer brands, including: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Corcoran®, ERA®, Sotheby’s International Realty®.

OJO, a conversational artificial intelligence (AI)-powered assistant, uses mobile messaging and innovative web experiences to redefine how consumers access personalized information throughout their home transaction process. OJO focuses on lifestyle, neighborhood and home preferences to deliver more effective, customized information. Consumers will have competitive marketplace advantages through proactive OJO insights and immediate intelligent responses. OJO nurtures the communication with the consumer through the research process until the consumer is ready to be in direct communication with an agent.

Delivering the highest-quality leads to sales agents enables them to focus their time on buyers and sellers who are more likely to transact. Participating brokerages from the Realogy Franchise Group and NRT will be determined in the next several months as the companies move from the planning phase to execution.

“We are committed to a strategy of leveraging the power of Realogy to make our affiliated sales agents more productive and their businesses stronger,” said John Peyton, president and chief executive officer of the Realogy Franchise Group. “We are excited to get OJO and this innovative technology into the hands of our affiliated agents. We hope the results of the program will support our belief that an AI assistant could lead to increased agent productivity and higher conversion rates for online leads. This is just one of many new concepts we plan to learn from in the months ahead.”

“In the discovery phase of the home buying and selling process, consumers often are not ready to speak to someone yet and don’t want to be sold by third parties looking to inundate the client as a lead,” said John Berkowitz, co-founder of OJO Labs. “OJO helps consumers navigate the early processes of buying or selling in the most effective way.”

OJO Labs engineered a patent-pending technology to enhance the home decision process by creating a highly personalized, consumer-centric experience through the fusion of machine and human intelligence. “When we connect consumers with Realogy’s affiliated agents we will be delivering a more engaged, informed and ready client,” added Berkowitz. “Consistently communicating with, and nurturing home buyers and sellers as they explore the decision-making process gives them the comfort and privacy that will ultimately deepen the connection to the agent.”

“In determining who we brought this powerful technology to market with, it was very important to us that we found a company deeply committed to its affiliated agents and to working with business partners who are truly interested in innovation. It is clear there is an extremely impressive team at Realogy that is laser-focused on pushing the industry forward and creating meaningful value,” noted David Rubin, co-founder of OJO Labs. “Even though we are an AI company we are still in the business of people. Partnership and values are of the highest importance to us, and we have found the executives at Realogy, along with their brands, to be committed to innovation, collaboration and a better future for the real estate industry.”

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