TL; DR: The real estate applications and services provider Realtyna is shaking up the market with its RealtyFeed social network. The groundbreaking, cloud-hosted solution will bring artificial intelligence (AI), machine learning (ML), and gamification to a real estate arena fit for Generation Z. Slated for a summer launch, RealtyFeed is poised to make a long-overdue splash in today’s tech-resistant real estate industry.
While most of the members of Generation Z aren’t old enough to vote, they are already inspiring change in the real estate industry.
This up-and-coming generation — born from 1995 to 2010 — is also referred to as the zoomers. The term is both a play on the word boomer and a nod to the exponential tech advances that defined their formative years.
“The older Gen Z age groups are starting to enter the real estate industry,” Ali told us. “Some are taking over businesses from their parents; others are starting their own businesses. And what they see at this moment is an industry that is 25 years behind.”
With barely a memory of a world without smartphones, Ali said Gen Zers want digital real estate tools that are well-designed, user-friendly, and even fun. That’s why he and the Realtyna team are working to disrupt the market with RealtyFeed, the first social network for real estate professionals.
Realtyna is currently crowdfunding the project, which will feature future-forward technologies like artificial intelligence (AI), machine learning (ML), and gamification to help Gen Z real estate professionals feel right at home.
Realtyna’s existing real estate software products will work in tandem with the new platform, bringing advanced real estate applications and services together with lead generation and social networking.
A Gamified Social Network for Digital Natives
The real estate industry has long been considered slow to adopt technological innovations. But those who fail to adapt quickly to changes are at risk of going extinct.
“Professionals often refer to real estate as a dinosaur industry because it’s very much resistant to change,” Ali said. “However, the dynamics are shifting.”
Not only are Gen Zers coming of age, but online real estate marketplaces such as Zillow are rapidly adjusting their business models. With its new division, Zillow Offers, the company is buying, remodeling, and selling homes.
“By becoming a brokerage company, Zillow is competing with its own clients, the real estate professionals,” Ali said. “We thought that this should not happen. Instead, we want to redefine the playing ground to help the industry.”
Realtyna’s goal with RealtyFeed is not to take business away from agents, but to provide them with the cloud-hosted tools they need to compete in the changing market. The company’s approach to property technology (proptech) is to place the agent at the center of a collaborative social platform while keeping the interests of various parties in mind. These include brokers, developers, lenders, real estate associations, and Multiple Listing Service (MLS) providers.
RealtyFeed uses AL and ML to provide relevant feed generation, connecting professionals in a unique way. The platform provides users with full control over data sharing and privacy and advanced property search tools. It also offers them lead generation resources, endorsed and credible tools for building an online presence, collaborative functionalities, and insightful reports and analytics.
An Intuitive, Fun, and Rewarding Approach
With RealtyFeed, Realtyna is providing a slew of cutting-edge functionalities wrapped in an accessible package for local markets.
“At the moment, only blue-chip companies and enterprise investment bankers have access to AI, ML, and data analytics in the real estate industry,” Ali said. “We want to bring this type of technology — data and analytics especially — to local markets that may not have the same access.”
Through the cloud-hosted social network, users can generate the business intelligence that they need to grow their portfolios. Ali described RealtyFeed as a combination of Wikipedia and social networking platforms with a real estate twist.
The gamification component makes the platform intriguing and gratifying.
“Through gamification, our social network users will get a reward for their efforts, rather than having the social network reap all of the benefits,” Ali said. “Our goal is to democratize the process through gamification, giving users power and compensation they can actually use.”
Users will be able to cash in compensation chips for perks like premium memberships and free advertising. The process is intended to be fun and meaningful for real estate agents.
Stocking the Modern Real Estate Toolbox
Ali told us that he envisions a future where real estate agents and other parties leverage both of the company’s solutions — RealtyFeed and Realtyna’s existing real estate software.
The company’s most popular product, WPL Pro, is a scalable web app that empowers real estate professionals to list their properties on their own WordPress sites and portals. RealtyFeed is not a replacement for the real estate agent’s website.
“Replacing your real estate website with a social media presence is the wrong decision in the long run,” he said. “You want to keep your website so that you’re not dependent on any third-party provider. With RealtyFeed, the idea is to give users the tools to connect their website to the social network.”
That way, the user can sync information between the two sites, saving time while retaining ownership control.
“We don’t want our customers to put their livelihoods in the hands of anyone else — even us,” Ali said.
Interested parties currently have the opportunity to invest in both of Realtyna’s product lines through crowdfunding on Republic. Ali told us the information currently available on the crowdfunding site focuses largely on the platform’s communication benefits, but there’s much more to unveil.
He compared the platform’s potential to what Airbnb has done to advance the tourism industry.
“It’s not just about helping people rent out a spare room easily,” he said. “It helped solve the problem of unfair pricing. It helped sort out the problem of building trust between the host and guest. RealtyFeed is the same way.”
In addition to benefits currently under development, RealtyFeed’s blend of social networking and listings will help drive leads, grow B2B referrals, and make B2C sales more flexible.
Plans for a Summer 2021 Launch
With a successful crowdfunding campaign, Realtyna may be able to launch RealtyFeed as soon as Summer 2021. The team has already raised nearly double its minimum funding goal of $25,000 and hopes to reach much more later this year.
“If we reach our goal, we can launch the platform more quickly; if not, we are ready to fund this ourselves,” Ali said.
The team is considering releasing the finalized social network to clients and investors first.
“We then plan for those users to welcome others through invitations,” Ali said.