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11 August 2017

Real Estate Roundup – August 11, 2017

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Discover the latest happenings in the industry.  

Facebook unveils first ad product for real estate
Facebook has unveiled its first ad product designed specifically for the real estate industry. “Dynamic Ads for Real Estate” allows a brokerage to advertise relevant listings to Facebook and Instagram users who have previously searched for properties on the brokerage’s website.

This robot may be your next real estate agent
The device, nicknamed Rex, was created in 2015 by a team of entrepreneurs in tech, finance, and real estate. The Woodland Hills-based startup says the concept of using a machine instead of a person to find buyers is already paying off in big markets. The robots are trained to use artificial intelligence to target potential buyers through social media using Facebook, Instagram, and Snapchat ads. The concept has even caught the eye of big investors, including the founders of Best Buy and Crate & Barrel. So far, the company has raised over $16 million.

Drop in rates boosts weekly mortgage applications 3 percent
A drop in interest rates drove homeowners and buyers to the mortgage market last week. Total mortgage application volume increased three percent on a seasonally adjusted basis from the previous week, but is down 25 percent from a year ago, according to the Mortgage Bankers Association. The increased mortgage activity was buoyed by applications to refinance home loans, which increased five percent from last week, but were down 44 percent from a year ago.

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