Ready to build your own house? Terrascope, an AI real estate agent, lists land – San Bernardino Sun

Ready to build your own house? Terrascope, an AI real estate agent, lists land – San Bernardino Sun

Kehan ​​Zhou’s first purchase of rural land on a third-party Multiple Listing Service site was truly spectacular.

It turns out that there are a lot of cheap lands, and that’s a problem.

“It can’t be filtered. It’s overwhelming,” said Zhou, who turned from a Wall Street trader to a tech entrepreneur.

Zhou is a co-founder of TerrascopeDescribed as the first artificial intelligence-based real estate agent to find and browse local real estate online. It comes shortly after the fast-growing pandemic-fueled housing market. Land sales increased by 3% last year, according to the company. 2020 Land Market Research According to the National Association of Real Estate Agents and the National Association of Real Estate Agents.

“As this remote work option becomes more viable, this trend will continue,” Zhou said.

Looking for recreational land?

Terrascope uses machine learning technology to sift through thousands of lists in California and the popular Montana of Deguchi to find the ideal property.

The 40-acre rolling hills studded with oak trees and several buildable locations are all within an hour’s drive from the town of Bradley, Paso Robals, and will be yours for $ 120,000. list It shows that it is ideal for long walks, bike rides and hunting.

What about the 12.5 acres of land on the banks of the Missouri River in Townsend, Montana? The ongoing price is $ 180,000.

The results are based on user feedback on questions such as “land with a house”. Looking for a specific “type of property”?

Location, price, area, and specific features such as “utility access,” “waterfront,” “skiing,” “golf,” and “suitable for horses” can help further refine your results.

“Many of our AI technologies are built into all the standards we’re talking about here,” says Zhou. “For example, our algorithm actually determines if a property is suitable for hiking, boating, or fishing. These are the data we generate ourselves that aren’t there.”

The result is that the user either agrees or disagrees.

Terrascope plans to expand its list to other regions and eventually take roots in San Francisco, where co-founder and “AI mastermind” Julian Companiportis is currently based. I am.

Zhou is currently working away from Montreal, Quebec, and one morning in late July he zoomed in and talked about the startup.

Q: How did you come up with the search criteria?

NS: According to our research, buying real estate in rural areas is twice as complicated as buying real estate in cities. Buyers need to consider utilities, water sources, access to land features, and more. All of this is added to the structure itself.

The way we tackled the problem is OK, think about what people care about when buying rural real estate. This question is actually very insightful.

Q: Does the list contain information about permits or zoning regulations?

NS: At the moment, much of it relies on buyers to do their own research. However, we are actually working to provide buyers with additional information about all these requirements.

Q: So you Educate buyers When they search?

NS: absolutely! People are overworked. They want more space. They want a different lifestyle. But it’s just an illusion to them because they don’t know how to make that transition. That’s why we are educating all buyers how to do it by using this informative and smart AI real estate agent.

Our search is location independent. Local real estate buyers may not care about the location, so there is a button that you can click to search anywhere.

Many buyers are just exploring. Therefore, its features allow you to start browsing and learning. AI is there to guide the process while they discover their true tastes.

Q: How does Terrascope make money?

NS: Currently, the focus is on transaction generation. But in the future, we want to be the only agent you go to. Replace real estate agent fees with small fees of the same quality of service for even faster delivery.

In fact, we are looking for virtual touring. It will be a lot of fun as you can virtually see the farm.

Q: Why did you decide to focus on everyday buyers based on your Wall Street background?

NS: As the Chief Financial Officer on Wall Street, I was always talking to the CFO. I was invited to a flashy meeting or event. It sounded like a wonderful life. At the same time, I was tired of it because my life had no comprehensive purpose. I felt some dissatisfaction. For me, it was always trying to help people.

Before I got my full ride scholarship to Wesleyan, I was literally in a terrible situation. I couldn’t go to college without a scholarship. Also, I couldn’t go on to university in China because of the rule that I had to go back to where I was born to take the (admission) exam. I was born in a small village on the outskirts of Beijing. So I decided to take another route via SAT.

At that time, it was 2011, so no one gave international students, especially Chinese students, full-ride scholarships. We were just after the financial crisis. Many were in need of help. The university wasn’t rich either. Their donations also suffered a financial crisis. They were looking for Chinese students to subsidize tuition fees for domestic students.

So I applied for 40 schools and was rejected over and over again. I really didn’t have a chance. But then Wesleyan came.

As you know, I didn’t come from a rich family. I came from a single-parent family with my mother. So I understand the struggle. I’ve always wanted to take advantage of my position through technology and finance to create something that benefits others as well.

Q: Where is your father?

NS: My dad died when I was really young. Even though there was no such thing as a family register in Beijing, my mother raised me and gave me the best education (called a family register, Mao, who limits access to public health for local migrants. System of the times) Care and education).

Another reason I left China was that I was gay. My mother and I realized that staying in China would be difficult for me as a person. She even told me that if I didn’t get a scholarship, at some point I would move her finger to the bone to take me to America.

It wasn’t an easy childhood, but I was fortunate to have a very supportive mother. I always think of it as a source of strength and purpose.

That drives what I am doing now.

Kehan ​​Zhou Profile

title: Co-founder

Organization: Terrascope

Birthplace: China

education: He majored in economics at Wesleyan University in Connecticut and graduated in 2015 with a full scholarship.

experience: He started his career as a fixed income trader on Wall Street. He led Citigroup’s European Structural Loan Program in London. He then founded Wall Strategies and co-founded Terrascope.

Ready to build your own house? Terrascope, an AI real estate agent, lists land – San Bernardino Sun Source link Ready to build your own house? Terrascope, an AI real estate agent, lists land – San Bernardino Sun

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