Are Rightmove and Zoopla still disruptors, or soon-to-be disrupted?
Computer Vision and Machine Learning will divide by ten the time it takes to find your next dream home.
Understanding properties features at scale make a deep-discovery of the stock a much easier process.
It is ten o'clock on a week night. After a long day at work, you finally find the time to go to Rightmove or Zoopla and resume the search you started ten days ago: finding the next house or flat you'll buy or rent.
And like every single time, you receive back dozens of search results. Despite entering the same details over and over, theses portals have zero memory, zero understanding of what you are looking for. They fundamentally are blind to your real preferences. Are you looking for an open space layout or rather small, cosy, rooms? The alerts you receive on a daily basis are not any better. They are a mix of period properties, ex-council houses, CGI-ed new builds.
If this sounds familiar, you are not alone.
During 2018, we will collectively spend 150,000 working years on the property portals, at a cost of £5bn to the UK economy.
Incredibly, the time on platform is a metric than the portals follow and report: last year we spent an extra 40 million minutes on Rightmove, despite a falling number of transactions. These platforms behave like cab companies extremely proud to make you wait longer. However, more time spent does not translate into higher revenues for the real-estate agents, nor does it highlight a better experience for the users. We believe you could find what you are looking for in a few clicks, rather than hundreds.
How? With Computer Vision and Machine Learning. Even if you are not familiar with Computer Vision, you have been already using services and apps leveraging it: when clicking 'images' after a google search for instance or when Facebook recognises your friends in a picture.