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August 2017   Volume 43, Number 8      
 

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Real Estate Companies Are Moving to the Cloud

With much of the focus on agents’ personal touch, the real estate industry has been slow to adopt new technologies. However, firms are starting to embrace the cloud because it can handle back-end functions that consumers don’t see: accommodating major swings in traffic due to the business’s seasonal nature, processing millions of property photos, and estimating sales prices in real time by analyzing thousands of data points.

Zillow Group Inc., the largest U.S. real estate industry website, uses Amazon Web Services (AWS) to manage millions of listings, even for homes that aren’t currently listed for sale, including photos, pricing, neighborhood demographics, and much more. Microsoft Corp. and Alphabet Inc. are also starting to attract real estate companies.

Weichert Realtors uses Microsoft’s cloud services to host millions of images and continues to shift additional functions onto the service. French real estate website Meilleurs-Agents SAG started using Alphabet’s Google Cloud Platform to improve speed when the firm’s traffic grew.

In addition to the cost benefits of using cloud computing services, it’s also faster, said Satheesh Ravala, senior vice president for cloud engineering and operations at Ellie Mae Inc., a mortgage origination company that uses AWS to automate loan application processing tasks.

Outsourcing to the cloud, Ravala says, is “like renting a car vs. building one yourself,”

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In this issue:

The 10 Fastest Growing Cities in the U.S.

3 Million First-time Homebuyers Shut Out of Home Market in Past Decade

America’s Hottest Real Estate Markets: May 2017

Home Prices Are Increasing, But Mortgages Are Still Cheap

Fed Announces Third Rate Hike in 7 Months

Industrial Real Estate Development Reaches 10 Year High

Real Estate Companies Are Moving to the Cloud

Mortgage Applications Down 12 Percent Since 2016

Why More Millennials Are Finally Buying Real Estate

Why More Real Estate Firms Are Now Offering Mortgages



 


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