Ep. 4: Leveraging PropTech and the metaverse to enhance the home buying experience
In this episode, host April LaMon is joined by Nicole Godfrey, Global President at Runway.
Nicole discusses the origin story of Runway amidst the financial crisis of 2008, how Runway is leveraging the metaverse to create virtual, immersive home buying experiences and how PropTech can empower consumers when buying a home.
About Runway
Runway is an international, award-winning inventory management and sales and marketing tool partnering with leading community developers and home builders. Runway solves the most complex back office challenges faced by the industry and delivers incredible home shopper experiences that increase sales velocity and conversion rates. Runway is privately held and was established in Melbourne, Australia in 1997.
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The metaverse, and the new immersive homebuying experience
In Australia, developers sell land directly to consumers, followed by builders selling home designs to those same consumers. That means there are two separate transactions, each with different contracts. In order for a builder to generate leads, they must put together detailed virtual house and land packages outlining all details and expenses. This process can be time consuming, inefficient and can often lead to mistakes.
Upon entry into the US market, Runway quickly recognized the challenges of that process and in turn, developed a series of configurable algorithms to allow builders to create thousands of these packages within minutes. Runway’s cutting-edge technology creates dollar-perfect packages that are compliant with all rules and design guidelines. Builders can generate a PDF and publish these virtual packages to websites and major portals within hours rather than weeks.
By eliminating that manual, repetitive effort, Runway has been successful in getting builders what they need faster, more efficiently and from a single source of data.
Typically, only builders and sales teams have had access to these virtual packages, however in 2018, Runway released the first version of Homebuyer, a program that enables consumers to access, build, and customize these virtual packages for their home. Through confidence in their market pricing and integrity of their data, Runway is able to empower consumers with key information and allow them to customize their home with precise detail.
About Nicole Godfrey
From her pets and her faith to innovative people who make big things happen, Nicole finds inspiration everywhere. Moving from Australia to Dallas, Nicole has learned to look and appreciate her environment from different perspectives.
Connect with Nicole