AGENDA - rrc-education-media.s3-us-west-2.amazonaws.com

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

[email protected]

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/

[email protected]

Upcoming Live Webinars