“We have a process where sellers can onboard their properties in a self-service way. … we can use data and AI and machine learning to make people answer as few questions as possible,” he said, adding that the company serves up automated property valuations to help seller decision-making. “We have our own valuation that can predict probability of sale at certain price points.”
Beasley said a data-driven culture at Roofstock has also helped the company attract funding.
“Having a head of data science and a data science strategy is the price of entry for any startup in the valley,” he said. “The fact that we had a strategy that involved data and really understanding our future customer base was very attractive from a business model perspective. “The one thing real estate has going for it is the market size is quite large. That is appealing for investors who see a lot of companies,” he continued. “It is really the last major sector to not be discovered … and I think there are a lot of pockets of opportunity in real estate.”
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