In 2020, 63% of the homes sold were purchased “sight unseen” according to a survey conducted by Redfin. The start of the Covid pandemic likely drove much of that shift, but an increasing number of young homebuyers are willing to rely on photos, videos and other means to virtually explore a potential home without ever setting foot in it.
Domotics, a Ridgefield-based tech company, has paired the deep real estate experience of its three local founders with IntelliMedia Networks, a global technology company which provides the underlying technology for the streaming services of several major news services.
“We’re a visual tech company,” explained Jason LaVardera, CEO and one of the cofounders of Domotics. “Our partners are media streaming experts, they have platforms like a Netflix style platform, game streaming, event streaming, learning and training management systems. So, we incorporated some of their media tech into real-estate. We’re kind of the front end. Where all of these Zillows and Redfins and even the brokerages are Multiple Listing Service (MLS) driven websites that get their media assets from the MLS, we’re kind of the opposite of that we’re really a tool for the agent.”
Using Domotics, realtors will be able to host and share pictures and video footage of homes alongside 3D renderings of floorplans, 360-degree views from within the house, and even allow viewers to experience homes through virtual reality headsets. This information is streamed to devices, which allows the app to function not just on computers and smart phones but also smart TVs.
Realtors relying on the Domotics app will also be able to provide guided tours of their listed homes in real time. They can host an “open house” where they allow guests to wander freely through the 3D representations of the space while being on-hand to answer questions, or they can give a guided tour and control exactly what potential buyers see. They can also do this with clients across the world at any time, while never disturbing current residents.
“What’s really key about our app service is that agents and brokerages will be able to subscribe to our app,” explained Josh LaVardera, Jason’s brother, cofounder and Domotics’ chief operating officer, and also is a realtor and member of Northern Farifield County Association of Realtors. “They’ll be able to advertise and market their homes, but they’ll also be able to license our tech. Anyone in the real estate space who wants to use our technology to power their site can do that. We’re actually closing in the next week to finalize our first licensing deal.”
Co-founder and President Michael Sturges said that Fairfield County is an ideal place to bring the app to fruition.
“We wouldn’t be launching anywhere else, just because of the diversity in the market and the different types of homes,” he stated. “From modern apartments to really old homes, all types of architectural styles. Also having agents who are top performers and ones who just do it as part time work. We’re able to reach all those different types of agents.”
CEO LaVardera noted that Sturges brings development of the real estate variety to the table.
“His family is actually six generations of Ridgefielders, most of them were developers of real estate and they’re very ingrained in Fairfield County,” he said.
“We probably built some of the homes on the app,” Sturges added with a laugh.
