Wahi Launches First AI-Powered Realtor Recommendation System in Canada

New tool matches homebuyers and sellers with top realtors so they can make an evidence-based and informed choice when it comes to the biggest transaction of their lives.

TORONTO, June 22, 2023 /CNW/ - Today, Wahi launched an AI-powered realtor recommendation system that puts consumers in the know by arming them with the information and data they need to find the right realtor for them. With this innovative system, homebuyers and sellers in Ontario can now find the best real estate agents for their area and property type, and compare fees, services, realtor profiles, statistics, and personal introductions to find the right fit.

Forty-five percent of recent buyers, or those intending to buy a home, rely on referrals from family, friends or colleagues to find their realtor, according to a set of questions for Wahi included in Sagen's First-time Homebuyers Survey conducted by Environics. This new state-of-the-art realtor recommendation system, co-developed with The Vector Institute, provides a way for consumers to choose a realtor that will get the best results for them.

The matching tool uses extensive data and AI to analyze hundreds of real estate agents in every microzone in Ontario. Homebuyers can be matched based on their desired price range, property type, and other personalized criteria. The proprietary algorithm provides personalized introductions to the top 10% of agents based on the specific preferences and needs of each consumer.

A first in Canada, the AI-enabled system takes into account a range of factors to match the most suitable realtors with consumers including:

• property search location, property type and price;
• agent experience, expertise, quality and performance; and
• sales history and proven results.

"While relying on family and friends to recommend a realtor isn't necessarily a bad thing, it also doesn't always lead to the most suitable match or the best outcomes. For example, just because a realtor is a good generalist or good in one specific area doesn't mean that they are the best suited for a completely different part of the city or different type of home" says Wahi CEO Benjy Katchen. "Realtors lend expertise to the real estate experience with their local knowledge, connections, and experience in the neighbourhoods in which they work. The ability to get matched with the top 10% of realtors in your area through our system is unique to Canada and will help to create a better overall real estate experience for Canadians."

This advanced technology also allows users to review realtor profiles and fees upfront and provides customized recommendations that match the user's unique requirements, such as languages spoken and services offered, to ensure a level of compatibility. For consumers, this means a higher level of transparency when it comes to choosing a realtor, as well as a more personalized approach to recommending the most suitable agents. There is also the flexibility for customers to change agents if they are unsatisfied with the match.

The AI-powered recommendation engine benefits real estate agents as well by connecting them with highly qualified and relevant leads. The system's personalized recommendations ensure that agents are matched with buyers and sellers who are interested in their specific areas of expertise and are most compatible in style and personality, which can lead to an overall more effective real estate process.

"Wahi came to Vector with an idea for an AI-powered realtor recommendation system but lacked the AI expertise to build it," says Tony Gaffney, Vector's President and CEO. "By joining Vector's FastLane program, which helps small and medium companies in Canada accelerate AI commercialization in their business, the Wahi team was able to tap into Vector's network of AI experts and turn their idea into reality. Our work with Wahi exemplifies our mission and we're thrilled to see the company continue to realize the potential of AI for their business."

Learn more about Wahi's digital real estate platform, services and tools by visiting wahi.com.

About Wahi

Wahi redefines real estate by giving control back to Canadians, including access to market data, agent-level insights on the latest listings, and the ability to match with top realtors in their area. Learn more at wahi.com.

SOURCE Wahi

News Media Contacts: Kristin Doucet, Wahi, Tel: [phone], [email protected]; David Eisenstadt, The Communications Group, Tel: [phone], [email protected]