"A home search test from Google has the real estate industry spooked. The search engine earlier this week displayed home listings in its sponsored results for certain markets. The results allow interested buyers to view details about individual listings and request a tour with a buyer's agent. The listings are the result of a test run by an AI-enabled real estate brokerage HouseCanary to display listings and market its listing site, ComeHome, the company said on LinkedIn."
"A spokesperson for Google called the search a small experiment in partnership with ComeHome by HouseCanary that displays property listings and information alongside existing real estate agent ads on Google Search. The test expands on existing agent ads on Google by adding listing information, which is sourced from HouseCanary. The test is currently active in Houston, Los Angeles, Miami, Denver, Chicago and the Bay Area, according to Google's spokesperson."
"In a blog post, WAV Group CEO Victor Lund said that the test was nothing more than using listings as paid advertising. When listings appear inside paid Google ads, they are being promoted, targeted, and monetized in a third-party environment that sits outside the IDX framework, he wrote, referring to the Internet Data Exchange (IDX) policy that governs how MLS participants can share data."
Google ran a small experiment in partnership with ComeHome by HouseCanary that displayed property listings and information alongside existing real estate agent ads in sponsored search results. The enhanced sponsored results allowed buyers to view listing details and request tours with buyer's agents, with listing data sourced from HouseCanary. The experiment ran in Houston, Los Angeles, Miami, Denver, Chicago and the Bay Area. Industry observers raised concerns about listings being promoted and monetized outside the IDX framework that governs MLS data sharing. The placement also alarmed investors and analysts because it could push traditional paid and organic links down the search results, affecting competitors like Zillow.
Read at therealdeal.com
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