The Summary of the Panel 13/B – MLSs and Emerging Technologies (AI/ML/BC/Web3)
At the MLS International Forum held in Italy, the panel titled MLSs and Emerging Technologies (AI/ML/BC/Web3) explored the impact of cutting-edge technologies on the real estate sector. The distinguished panelists included Bill Fowler (President at SourceRE), Carrie Law (CEO/Director at WOW IMPACT GROUP), Nathan Brannen (CPO at Restbi.ai), Kurtis Cicalo (Founder/CEO at VoiceFlip), and Vanessa L. Saunders (Founder/CEO at Global Property Systems).
This session focused on how emerging technologies like artificial intelligence (AI), machine learning (ML), blockchain, and Web3 are transforming the real estate industry and MLS platforms, offering new opportunities for brokers, agents, and consumers.
Introduction: Setting the Stage for Innovation
Bill Fowler, who moderated the session, opened with a brief overview of his 25-year journey in real estate technology. Fowler emphasized how emerging technologies are reshaping the landscape of Multiple Listing Services (MLS) and real estate, offering exciting new opportunities for brokers and agents.
The panel’s aim was to explore how AI, ML, blockchain, and Web3 are enabling more cohesive and efficient MLS systems. Fowler’s remarks underscored the importance of centralized databases, streamlined processes, and how these technologies serve as essential tools for brokers, agents, and consumers alike.
Panelist Introductions and Their Perspectives
Carrie Law – Data and Cross-Border Transactions
With over 30 years of experience in media, technology, and real estate, Carrie Law has been a key player in cross-border transactions. As the founder of WOW IMPACT GROUP, she focuses on data insights, technology growth, and real estate investment strategies. Law discussed her work with global agents and developers, specifically targeting Chinese investors and the challenges of listing sufficiency and data quality.
Nathan Brannen – AI for Property Insights
As Chief Product Officer at Restbi.ai, Nathan Brannen specializes in extracting valuable data from real estate photography and converting it into structured information. Brannen highlighted how his company is working with MLSs, brokerages, and real estate portals across 35 markets globally, offering new AI-driven tools to improve listings and property analysis.
Kurtis Cicalo – Voice Technology and Democratizing Data
Kurtis Cicalo, founder of VoiceFlip, presented his vision of using voice technology to democratize data access. VoiceFlip’s platform supports over 25 languages, including sign language, making data more accessible to consumers, employees, and agents. Cicalo emphasized how natural language processing and AI agents can empower users to interact with MLS systems through voice, simplifying the experience.
Vanessa L. Saunders – Blockchain for Transparent Transactions
Vanessa Saunders, CEO of Global Property Systems, discussed the integration of blockchain technology in real estate, particularly its ability to foster trust through transparent transactions. Saunders has extensive experience in crypto and blockchain applications in real estate and highlighted the benefits of on-chain offers, which provide real-time transparency and security for buyers and sellers.
Blockchain Implementation in Real Estate: Ensuring Transparency
The panel delved deeply into blockchain technology and its potential to revolutionize the real estate sector. Vanessa Saunders illustrated how blockchain can provide transparency by ensuring all offers are visible to sellers in real-time. Blockchain creates a level playing field where buyers no longer have to worry about bidding against themselves, and sellers can rest assured that no offers are hidden.
Benefits of Blockchain:
- Real-Time Transparency: All offers are on-chain, making them visible in real-time, ensuring that every offer is presented to the seller.
- Accountability: Blockchain eliminates hidden offers, building trust between agents and clients.
- Secure Transactions: Blockchain enhances the security of transactions by ensuring that all parties involved have access to the same information.
However, Saunders acknowledged that the traditional nature of the real estate industry, with its reliance on face-to-face interactions and paper-based processes, presents challenges in the widespread adoption of blockchain technology.
AI and Machine Learning: Transforming MLS Systems
AI and machine learning are being integrated into MLS systems to offer more intelligent property recommendations, data insights, and efficiency improvements. Nathan Brannen discussed how AI is enhancing MLS listings by attaching structured data from photos and increasing the amount of data available on listings by 40%.
Key Use Cases:
- Natural Language Search: AI-powered tools enable users to search for properties using natural language, enhancing the user experience.
- Enhanced Property Descriptions: Machine learning is being used to automatically generate detailed property descriptions, helping agents present listings more effectively.
- AI for Recommendations: Carrie Law added that AI can also recommend properties buyers may not have initially considered, providing more comprehensive solutions for clients.
AI and ML are also being used to forecast property values and tokenize real-world assets, offering stable and secure transactions for investors. The integration of these technologies into MLS systems represents a significant leap forward in how agents, brokers, and consumers interact with real estate data.
Voice Technology: Reducing Friction in MLS Platforms
Kurtis Cicalo presented an exciting case study on the power of voice technology in reducing friction for agents and consumers alike. VoiceFlip’s collaboration with a U.S. association resulted in the creation of a system that reduced phone support calls by 75%, allowing agents to interact with MLS platforms through WhatsApp, Facebook Messenger, and other communication channels.
This voice-enabled system provides on-the-go access to MLS data, helping agents streamline their work and reducing the need for traditional support calls. By reallocating support staff to more revenue-generating positions, companies can boost productivity while offering a more seamless experience to their clients.
Collaboration and Implementation Strategies for Emerging Technologies
One of the key themes of the panel was the need for collaboration when implementing new technologies. The panelists shared several strategies for successfully integrating AI, ML, and blockchain into MLS systems:
- Start Small: Implementing emerging technologies requires starting with small, manageable projects before scaling up.
- Articulate Value: Educating agents and brokers on the benefits of these technologies is crucial for widespread adoption.
- Collaborate: Collaboration between MLS platforms, brokers, and tech providers is essential for successful implementation.
- Overcome Political Barriers: Real estate is a heavily regulated and traditional industry, so addressing the political aspects of technology adoption is critical.
Future Vision: What’s Next for MLS and Emerging Technologies?
The panelists closed the discussion by sharing their visions for the future of MLS and real estate technology.
- Nathan Brannen emphasized the importance of articulating benefits clearly and taking small, actionable steps to implement new technologies.
- Carrie Law envisioned a future where AI and tokenization of assets make real estate transactions more inclusive, allowing for shared ownership and new investment opportunities.
- Kurtis Cicalo aims to further develop tools that provide easy access to data and help agents work more efficiently on the go.
- Vanessa Saunders dreams of creating trust through transparency by embracing blockchain technology and educating realtors on its benefits.
Disclaimer: This article was created using AI Mindmap technology to summarize and structure the content. While every effort has been made to accurately capture the key
points and discussions, the text may not perfectly match the original content.