862: How roOomy Is Virtually Changing The Real Estate Industry
Welcome to the tank bloke writer podcast, your guy to future Tech Trends and innovation in a language. You understand now over to your host Neal Hughes. Welcome back to the tech log Greider podcast. Now when I was first finding my fate and indeed the format for these daily tech podcast, I spoke to Peter, who is the CEO of a company called Rumi, which is the world's leading three day VR an AR technology company in the interior, decorating space. Roomie is the only instance dilution as far as I'm aware that converts to d- it property images into a three D virtually staged room design increasing home shopper engagement and also conversion rates. Now, fast forward to twenty nine teen and we're not talking about apple Google and Amazon, taking augmented reality very seriously. So I wanted to catch up with Peter and learn. How roomy is progressing on also what he's being upto in the last four years since we spoke, so buckle up, and hold on tight. So I can be meal is all the way to some fronts. Cisco so we can speak with who is the CEO at roomie. So massive warm. Welcome back to the show here too. We I spoke on episode thirty five way back in two thousand sixteen and eight hundred and five episodes later, we'd have more listeners all over the world. So can you tell the listeners a little about who you are? And what you do for anyone that missed that first conversation. Yeah. Absolutely. Neil and great meeting again. So I'm Peter CEO and co founder of Rumi. I'm from the Netherlands, we started the company in the Netherlands, we took a to DOS almost five years ago. So last time we spoke in two thousand sixteen. We spoke mostly about our propositions in real estate. The Frigel staging services ah, so the company's propriety imperatives score technology allows us to convert any room photo two-day room photo into three d space, which we didn't can decorate with contents at were creating for our home furnishing retail partners. So our unique position across both sectors, enables us a enables in a very enough growth opportunity in shop. Abol fertile stagings. So it allows retailers to engage with motivated, consumer spiritually in the customer journey and to feature their own products and catalogs in, in virtual staging so real estate really loves our proposition, because we make there are active listings, look, much better. And since since ninety five percent of the people start their home search online. It makes so much sense to virtually stage their, their properties in really showed the full potential of their actively things in different designs house. So there's as a nutshell of what we're doing. But there's been a lot of progress. So I'm looking forward to discussing the main topics since we last spoke in two thousand sixteen tastic. I'm excited to find out more about lace. I'm like you said the last time we spoke room after slowest exclusive three d virtual home, decorating up that proved to be a big hit with consumers real estate agents and retailers, ROY off the bat, but I am conscious that this is an audio podcast and everything that you do. He's quite visual. So can you possibly set the scene, and help them visualize? Exactly, what room is, and how the company and services you provide as evolved over these last few years. And and you know how they can get the most out. Yeah. You're absolutely right. So it's, it's a very visual proposition, so we always love to share visuals. So for that I would like to refer to our Instagram page, Instagram is just a perfect social platform for our for our services, as so on. Roomie on Instagram. You'll find news officials on before and after of Rupe staging that we have we have created for relisted. So, so how does it work? So real estate comes through us to virtually states their property. So what does that mean they share photos of their active listings, which we convert, and utilizing our core technology into three space? We are working with the largest online home-furnishing B Taylor's creating sweetie assets. So today, we have over one hundred and seventy five thousand three d models in the room library, which we can use for fertile staging so usually real estate select two or three different design, styles, and again, with Arthur -nology and professional interior designers, we create beautiful room these lines, which we done render in our facilities in Asia. So since last time, we spoke Neil, we opened three facilities in Asia where we're creating the three d assets for home furnishing retailers and where we're creating these beautiful high resolution renderings for real estate. So once we have created this beautiful, high resolution virtual station for real estate day posted in Darah in their on their website really show of the full potential of their active listings. I have been following your progress from afar, and it just seemed that you've come a long way by embracing the so many emerging technologies got three day. But was it got VR and aaagh technology to create these three D renderings of home spaces, ultimately, I believe, so homebuyers, renters can envision space as their future home, and helping a real estate professional best showcase their listings. But he told me a little bit more about that as well. Yeah, of course. And so I think we've always been on the first week for for to reality, and reality. So it started with the Rumi app, allowing home shoppers to personalize their design on the platform that is still feasible, I so once we have created that beautiful designed we provide a deep link to the Rumi app where they can open to designed we created for that particular property, and they can personalize Studer own likings again. Never jingle room technology and with very easy to use the sign features and also utilizing d. The product library of the many three assets since real products that we have loaded in our in our library. We have grown our against since twenty sixteen a lot of progress because Google came to market, I with their Tango technology later with their air core technology apple came to market with a or kit. So we have leveraged their technology to launch off manage reality apps really allowing home shoppers and real estate agents to show the beautiful stagings during viewings, and it was always one of the major complaints about virtual Seiji because if you visit the property physically, Dan, you also would like to experience a beautiful design during your viewing. So today real estate agents and home shoppers, stitches pool their iphone Android phone look up that particular designed at recreated for the property, and they can view it in in or mandatory. -ality. What's really cool is that all the experiences we have in homes with shop ability features. So people will be able to click on products and really make the purchase on the retailers pep site just fairly of come along way because almost feels that you within like you said, in that first wave because right here and now VR and AR is transforming almost every industry and real estate is no no exception. But I'm hearing stories of apple and Google Creighton. Aaagh headsets, due to arrive in the next couple of years, do you think, essentially, these technologies are increasingly becoming more, and more mainstream and integrated into our daily lives? And if they are I mean, that's great news for you as well. Isn't it? Absolutely. I'm a big believer. That's that, that will come to us as recurrently wiccan with magic leap. It's been in the news, but magically granted roomy a development projects. Meaning of magic leap is funding the project allowing us to make the technology available on their, their devices as the magic leap mixed reality devices, will be an Hans with Rumi technology, so soon and I'm expecting early Q three one. We'll be able to put up the magic leap device. Put it on your hats and really experiencing beautiful virtual stagings in mixed reality while fewing or visiting the property in, in real and magically, of course, had a lot of hype around a lot of attention a few years ago. I mean, if you had chance to see any of inaction and is good as, as we've been led to believe. Oh, absolutely. I'm working with my development team every day. So. After the top of the year, the progress. I just run through through another sprint demo and it looks and testing. So, yeah. Coming soon. I would say, but it, it, it really looks fantastic. It's, it's very realistic. We have we will embed our own roomy render engine at its retailer to interior design and I can promise the audience that it will look fantastic. Very photo. Realistic live, how you using technology to help homeboys and renters but virtually and vision, a house or apartment as their future dream home. He's fantastic, you doing, but you tell me a little bit more about how your technology platform is impacting the real estate agent and property manager to year real estate an obviously were a lot further in time now. So Rita state. Well, first of all, I think it's with all mentioning Neil debts. We have penetrated over two goals for two goals in, in residential industry. So where we started the needs additional broker agents segment, and with companies like solar BC international realty. We've now also penetrated into let's see the disruptive Cindy industry like red fin as well as new builders like toll brothers and in the multifamily industry has Saudi apartment owners with examples like like you DR, so many verticals have adopted the room technology for fertile staging. And I think what's also important mentioning the it's not only to D room photos today. We're we have started to I, she states megaport scans. And we can also work off cat files 'social specially in the individual of new buildings when the properties still need to be built. We're already virtuous aging, the cat falls that have been created by designers, the architects. So a lot of. Yeah. New technologies that we have introduced in Indian the St.. And I'm super happy that we have been a traitor all verticals in residential industry residential real estate. If we have to sue out just for a moment, can you maybe help visualize and a little bit more about the broader role of technology in the real estate industry, and why you think it's going to be heading in the next few years because presuming Li if more and more real estate companies are going to be adopting, these kind of technology and working with guys like you at roomy that's going to set a new standard of expectation, isn't it? Yeah, that's a great question you'll because I think real estate has traditionally traditionally not been the early adopters of new technologies, but that's really changing today, I think ju to the success of startups, but also had to disrupt us in the industry. Like I mentioned that Finn and there's compares. Where really embracing technology in order to make a difference in the industry. I think what's important for real estate is there. Let's say from my vision, everything will will will will will go towards virtualization, so old properties will be fertilized and made available for fritzy reality in ordinary -ality. So with today's technologies it's, it's fairly simple to create a threes, Ken of your of your real estate. And once you have that three discount, you can put it in the hands off your future, renter, or your future buyer and really make it available for personalization. But it is through interior design or whether it's through auto technology in order to, to make it really personal for for the one who's going to truly live in that space not before talking to you today. I took a look across your social platforms and quickly. It's a hundred and thirty three thousand followers on Instagram alone, which is pretty significant by a long stretch. So. Is always any secret to how what you've achieved some success on that platform, I presumably is because everything you're doing is so visual, but I had did you go about a cheating successful, a huge following lineup. Yeah, your assumption is right as a roomy is a very visual proposition. And, and it's fantastic is showing all these beautiful visuals on, on, on Instagram. I think the secret is, is really focused. So we're for return focused on future home buyers as well as relisted agents and brokers. So really penetrating the differ tickles in state and being aware who's in the market for a new home. I think that's, that's our secret receiver happy, obviously, with our full our base as we're. Enormously happy with the interior, designers that are following us on Instagram. So a lot of positive feedback on the beautiful designs that have been created by our proficiently interior designers, how's your engagement strategy as I fold to meet meet those volving, consumer preferences and attract uses digital world, does that change much over the last few years. Well deficient has not changed. I think we're sitting on a YouTube upper -tunities with our Chaba virtual stagings, the technology, however, however, has has evolved, so through augmented reality today, one is able to click on products. Well, if you beautiful stagings in or manage reality. And another new innovation that we introduced the democratise what we call roomy ready. And so we learned that people really appreciate the high resolution renderings. They're very photo realistic. It's is hard to, to, to see the difference from from a real photo. So we announced that with what we call product labels. So we are touching product labels that can be tapped on the internet, and people can find out where it can make the purchase for that particular product. So for anyone listening, who's who is in the real estate industry or someone who's just moving and ready for a furniture. Refresh clear taught them through how to get up and running, and what to expect with room. Oh, yeah. Oh, yeah. That's easy has show. You can download to you room. Yep. On your on your iphone? You can also dine load or men reality apps debt, we have created for real estate. So that's not our evolution of the company. So I would really recommend people to download for instance, the curate app, it's Saudis international realty of men reality app that is powered by Rumi. So that's a great example of a augmented reality app that we created for, for real estate ember brokers, and agents are leveraging technology to show of these beautiful stagings during viewings. These apps are also available on Android. Again another evolution. So it's not IOS only it's, it's also available on Android tease. You've already mentioned, the exciting future with magic leap. Is there anything else that you can share with me today about what's next for rooming medically is, is a big thing for us. I think it's also important Neil to mention is again, the, the facilities that we've set up in, in Asia. So our home furnishing retail partners. And, you know, that's a that we're working with SO weird with a with a dominance service provider for two of the largest three on finishing retailers online. How finishing details? So we're recurrently ramping the capacity big time today. We have approximately four hundred people working in Asia, creating sweetie assets for home furnishing retail partners. Recurrently investing a lot in research, applying artificial intelligence and machine learning in order to drive efficiencies. These home furnishing retailers are all in that means that they will fertilize one hundred percent of their product catalog. And then we're talking millions of products. So in my vision, we will fertilize all products in home, furnishing, retail and roomie is perfectly positioned to become the dominant player for for the industry. So that's a big thing for us. What is what is really nice mentioning is the working with a few home furnishing retailers to sponsor virtual stagings, which will further lower Detroit sold for real estate to invest in virtual staging, and meaning that the retailer will pick up the check for ritual station. Becau-. As they see the benefits of featuring their products in virtual staging then lost, at least and that's a no brainer for us. There will be your graphical expansion. You noted he has been pretty much focused on the United States, so far, but we will we have already introduced the, the platform in the UK, and we will continue to introduce the platform in, in Europe. Tastic a suspect is going to be a lot of people downloading the app while they're listening to till today. But I knew on that wants to find out more information about you guys contact member of your team. If they've got any questions was the best way of doing that. Oh, that's really going to our website. So is roomy dot com. It's our triple O M, Y dot com task is great to say, how much success you enjoying. It's not overnight success either. You know, these four five years of hard work on which I can appreciate. But also, I mean, I talked to different tech leader every single day of the week and I'll go down to speak to my. Wife, who's got no interest in the world of tech. But soon as I mentioned, the word home account, an Instagram, I think she'll be going to be interested who saw suspects. You'll be downloading but bulldozing just a big. Thank you for joining me today. Thank you, likewise, thinking, you know, when I first spoke with Pyotr years ago, I was not even really a thing. So he was clearly ahead of his time and I generally enjoyed a catch with him today. Not only to see how he's progressing, but also to show the importance of four years, hard work, and dedication, and what that helped create in the world of tech startups, because I think we all look at the next big thing, and sometimes think why did I not think of that. But for the most part, even if you did think of that five years ago, would you have spent five years of blood, sweat, and tears, bringing your concept to life, but that is what peer too? And so many guests that commodities daily tech podcast do. And that's what separates them from for the rest of us on this crazy world now this is. As an audio podcast, and obviously room is a visual platform. So please, I urge you to check roomy out download it have a play. See if it can bring your home to live and let me know what you think I want to hear. Good bad indifferent, whatever as I genuinely want to hear your thoughts. So please Email me you should notice by now tech blogger to outlook dot com. Tweet me at Neil, c Hughes or pop Bama website, tech, blog, GRA dot co dot U K, so a big thank you for listening as always. I'll return again tomorrow with a Miller great gas. But until next time don't be a stranger. Thanks for listening to the tech writer podcast until next time. Remember technology is best when it brings people together.