Compass announced a new product this week, Lens, that they believe will WOW Boston real estate buyers
Lens uses computer vision to estimate the value of home renovations. It has a “before and after” interface that shows a photo of a room in the subject home along with a similar, remodeled room.
Quotes a Compass press release as stating that before this new technology,
“an experienced agent would walk through a home and determine which improvements should be made.”
I guess this new way has some practical utility during a pandemic but is the suggestion here that Boston real estate agents should forevermore abandon sizing up a home with their sellers, in person, to apply their expertise in weighing the value of renovations?
I hope not.
Compass is often referred to as a “technology forward” or “tech-powered” real estate company. I think this is mistaken. I see Compass as a capital-engorged marketing story attached to a traditional real estate brokerage.
Boston Real Estate and the Botton Line
Good companies often undermine themselves by heading toward the drain-circling comparison battle over tech, tools, and training. Unless you’re a brokerage that creates sexy technology no one else has, you’re just asking to be viewed as a commodity.
If you’re a truly good brokerage, with strong leadership, a palpable and inspiring culture, or some other core value, then leading with yet another checklist of apps or tools is like a great restaurant hyping its utensils and dinner plates.
It kinda makes no sense.