January 19, 2023
Presented by:
-Jeff Bone: 2023 President, Greater Lansing Association of REALTORS®
-Dave Conroy: Director of Emerging Technology, National Association of REALTORS®
-Dr. Jessica Lautz: Deputy Chief Economist and Vice President or Research, National Association of REALTORS®
1. App- RoomPlan can create 3D floorplans in seconds.
2. Generative Artificial Intelligence (AI) can help with renovation previews, by using allowing agents to show clients what a room COULD look like.
3. Generative AI can also modify listing photos. Example: Removing a sandbox from a yard.
4. In place of expensive stock photo subscriptions, agents can also use generative AI to create very specific stock photos.
5. Blockchains should be thought of as information management. It provides a verifiable and trustworthy record of events or transactions. Verifiable ownership is a critical component of any transaction.
6. The number of buyers who waive either inspection or appraisal contingency is down.
7. Average number of offers received per sale is down.
8. Median days on market is up, but still under a month.
9. The age of the average repeat buyer in 1981 is the same age as the average first time buyer in 2022. (The age is 36 years old)
10. Majority of home buyers have the misconception that a 16-20% down payment is required.