Foxtons has given details of the PropTech it uses to help improve leads and business decisions.
The agency, which has some 50 offices across London, says its business model already combines agency expertise and technology including a sophisticated Customer Data Platform to match buyers and renters with properties.
Now it has partnered with Artificial Intelligence tech company DataRobot to accelerate the agency’s capability to use data analytics and modelling.
In a statement Foxtons says it will use DataRobot “to build, deploy, and monitor artificial intelligence and machine learning models at scale to manage and optimize operational processes and customer acquisition.”
The first phase of this will focus on building an AI-powered ‘recommendation engine’ which will help identify the best properties to customers.
“Foxtons is already the most advanced estate agent in the UK when it comes to how we use technology and data” claims the firm’s chief operating officer, Patrick Franco.
“This is a pioneering deal with a world leader in data science and AI to further build our competitive advantage and improve how we serve our customers. Our team will be able to do even more of what they are best at: giving expert advice to sellers, buyers, renters and landlords and getting them the best deal.”
And DataRobot’s chief customer officer, Steve Jenner, adds: “Foxtons is leading the industry with their focus on leveraging Artificial Intelligence and Machine Learning to optimize all areas of their business.
“We’re excited to partner with Foxtons and enable their journey to a truly data-driven organization.”