Proptech Insights: Zillow’s New CEO, HomeLight launches AI Product, Smart City Trends, and more

Hello and welcome to today’s PropTech Friday Edition, your monthly dose of fresh real estate news. I’m Wes Snow, and I'm excited to bring you the latest updates and news in the industry.???

Today, we are taking a deep dive into Proptech startups, AI-advancements, commercial real estate, and even smart cities. Buckle up, the news will thrill you!?

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1. Zillow Group Welcomes a New CEO: Jeremy Wacksman?

I bet the name Zillow rings a bell to all of you located in the states and even overseas. It was nice of GeekWire to invite Jeremy Wacksman on the podcast and let him share a bit about his Zillow journey.??

Good to know: around 2 thirds of America is on Zillow. What are they doing there, you might ask? They are shopping for properties. Yes, that’s right.??

But this is not the only attractive feature. This is something Zillow is already doing and, according to Jeremy, will proceed with – AI. Now, Zillow upgraded ‘property shopping’ with the help of virtual reality. Just take pictures of your place, AI feature will create an immersive virtual tour. It’s as if potential buyers are exploring your home in person.?

Next on the agenda: Wacksman’s challenge is to simplify and digitize the entire transaction, using AI to automate tedious tasks while maintaining the human element in real estate.?

I loved to hear Jeremy’s thoughts on AI resonate with my vision and what we are actively doing at Ascendix. The name says it all—'Artificial Intelligence' is about becoming smarter and more inventive. It’s never about subtraction of human efforts.??

On the pod fellow Zillowers talked about shifting to a remote-first work model, attracting talents from around the globe, and working with Apple.?

If you are in the real estate industry or eager to learn more about Zillow, give it a listen.???

2. Payment Trends in Commercial Real Estate: A Talk with JP Morgan Chase?

Another thing I wanted to highlight: CRE payment trends. I came across Commercial Observer ’ interview with Jason Lee, a sales manager at J.P. Morgan Chase and would like to share the key points.?

• Lee highlighted that the commercial real estate sector is evolving, especially with the rise of e-commerce. He emphasized the importance of liquidity for these businesses. They need to manage payments, rent collections, and lease payments efficiently.?

• Technology plays a big role in improving efficiency. Lee noted that many real estate clients are moving away from traditional checks and paper statements. They want advanced electronic payment options and better data transmission.?

• The most crucial factor for clients when choosing a financial partner is reliability. With large portfolios and high transaction volumes, clients need a partner that can manage payments and monitor funds accurately.?

These points offer a snapshot of how treasury operations are evolving and how technology is playing a key role in shaping the future of real estate finance.?

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3. HomeLight Launches AI-Powered Buy Before You Sell Product?

HomeLight has raised $20 million to expand its Buy Before You Sell service to 40 new states. This funding aims to help more homebuyers unlock the equity from their current homes and make non-contingent offers on new ones.?

"We are deeply focused on building the tools and technology that solve the hardest problems that lenders face today in closing transactions. So far, the response to Buy Before You Sell has blown away our expectations and we’re thrilled to add so much value to both our lender and agent partners as well as their clients," said Drew Uher, Founder and CEO of HomeLight.???

The product leverages AI to unlock home equity quickly, allowing buyers to make non-contingent offers and move more efficiently.?

Phil Shoemaker, CEO of The Loan Store, commented, “Empowering homeowners to buy a new home with the certainty that comes from Buy Before You Sell is immensely valuable.”?

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4. Proptech Startup HouseEazy raises $7 Mn in Series-A funding?

HouseEazy, a marketplace for resale homes, has secured $7 million in a Series A funding round.??

The company plans to use the funds to expand into new areas in the NCR (National Capital) region, boost brand visibility, grow its team, and enhance its product.?

HouseEazy aims to simplify the resale home process. It allows customers to buy or sell homes in under 15 days with full safety. The platform has served over 1,000 customers so far.?

For buyers, HouseEazy provides exclusive, refurbished homes with AR/VR tools for virtual tours. The platform also offers mortgage, legal, and registry services.?

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5. Patrizia Raises €200M For Smart City Infrastructure Fund?

Exciting developments in smart city infrastructure are underway. Patrizia, a leader in global real assets, has just raised €200 million for its flagship Smart City Infrastructure Fund (SCIF), bringing its total commitment to €950 million.??

This significant boost aims to expand smart streetlighting and other smart city projects:?

“Our smart streetlighting investments and smart city bolt-on acquisitions in Italy continue to go from strength to strength,” said Jose Martinez Artiles, Investment Director at Patrizia Infrastructure.??

And that wraps up this week's roundup of real estate and proptech news. Share in the comments your most insightful Proptech findings!?

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