Real Estate

Redfin AI Search Assistant, Ask Redfin, Launches Nationwide

After nearly two months of beta testing, Seattle-based brokerage Redfin has launched its artificial intelligence-powered home search assistant, Ask Redfin, nationwide. Home buyers using Redfin’s Apple iOS app will automatically see Ask Redfin on the home listing page after completing a quick update.

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After about two months of beta testing, the Seattle-based brokerage Redfin has launched Its artificial intelligence-powered home search assistant, Ask Redfin, nationwide. Home buyers using Redfin’s Apple iOS app will automatically see Ask Redfin on the home listing page after completing a quick update.

Homebuyers Ask Redfin for listing details, zoning restrictions, homeowners association or condo fees, upcoming open houses, one-on-one touring availability, local market conditions and trends, nearby amenities, and buying a home. Can ask about many other related questions. If a question requires a more sophisticated answer than Ask Redfin can provide, Assistant can instantly connect buyers with a licensed real estate agent.

Redfin said it has trained Ask Redfin to reject queries that violate fair housing guidelines.

“In developing Ask Redfin, we created a detailed set of guidelines so that it answers questions in accordance with fair housing guidelines,” the company said. “We’ve been monitoring Ask Redfin closely on this front, and it’s doing well. When asked a question that touches on a potential fair housing issue, Ask Redfin correctly states that it Can’t answer the question.

The beta testing, which covered Redfin app users in Atlanta, Boston, Charlotte, Chicago, Dallas, Las Vegas, Philadelphia, Portland (Oregon), Phoenix, Sacramento, Tampa and Washington, D.C., said the press release. , was successful.

More than 90 percent of homebuyers who used Ask Redfin returned to the Redfin iOS app within a week, using it almost daily. The majority of home buyers used Ask Redfin to get additional listing details, such as square footage, renovation history, amenities and potential HOA fees (59 percent). Ten percent of Ask Redfin users sought further assistance from a licensed real estate agent, and 8 percent requested a home tour.

Redfin SVP of Product and Design Ariel Dos Santos said of the tool in a previous Inman article, “We add a lot of data to every listing you find on Redfin because home buyers want more about the home. deserves more insight than that.” “Ask Redfin makes it simpler and easier for consumers to find the information they want to know.”

The nationwide release of Ask Redfin comes a week before Redfin’s first quarter earnings call.

The company shared its Q4 and fiscal 2023 earnings results in February, which saw revenue decline and narrowing net losses as the company focused on cost-cutting amid market turmoil. The stock of Redfin (NASDAQ: RDFN ) has moved 0.32% over the last six months to the $6 range.

With CoStar’s acquisition of 3D scanning company Matterport and Zillow’s investment in listing showcase and real-time shows, Analysts are keeping a close eye on Redfin. What’s up his sleeve is whether it’s enough to lift the company out of its earnings and stock market slump.




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