Robots that write and design property market reports, social media feeds, video and articles on the industry are now a reality with the launch of Journobot from CoreLogic.
Over the past two years, CoreLogic has been trialling bots which can now produce fully designed reports for hundreds of different customised areas in less than an hour. Simple narratives – such as social media posts or even longer form market performance articles – can be created in minutes for thousands of suburbs.
“The bots have revolutionised our ability to create personalised and localised content at extraordinary scale,” said Kylie Davis, CoreLogic’s Head of Content.
“There are around 5000 suburbs across Australia that have viable property data to support a story about how their market has performed each month. It would take an army of journalists weeks to produce content for each one, but the bot is now successfully running these out in under an hour.”
For one major banking client, Journobot turns out 160 plus fully finished four page reports based on broker territories in a morning, including personalisations such as broker photos and details for each individual office and broker.
For another real estate client, Journobot produces a 4 page monthly report for up to 80 offices in around 10 minutes. Journobot is now also producing the highly popular CoreLogic Report Store reports - Top Performing Suburbs and Top Rental Performers each quarter - with more CoreLogic reports being ‘botted’ each month.
“Watching fully designed reports, each with their own stories about the local market and personalisation being produced in under a morning is amazing,” said Ms Davis, a former journalist.
“It opens up a world of new possibilities for content marketing and supports agents and finance experts who want to embrace the idea of helping both sellers and buyers by providing valuable information about how their market is performing.”
The technology was developed between CoreLogic and Nathan Krisanski, CEO of Brisbane-based start-up, HomePrezzo, which automates data-driven video creation for real estate agents.
“Within the templates, we have the ability to create fixed sections which the bot populates, and dynamic sections which can be edited by an individual,” said Ms Davis.
“And it does it all at scale which means that content can be produced more quickly, more frequently and more accurately which means our clients can share valuable information more often and support their positioning as a market expert.”
Ms Davis, who was formerly network editor of real estate at News Corp before joining CoreLogic, said she was sanguine about the bots doing the work of journalists.
“None of the journalists or designers that I ever worked with got into media because they wanted to write 5000 data-driven property stories in a month,” she said.
“As the first part of the trial, I personally did the work of the bot to see how long it would take a human to do. I got to my tenth report and threw in the towel because it was so mind numbing – and proved the human method was just too expensive and slow. This is not replacing the work of a journalist because it’s not viable work for journalists.”
With thousands of pieces of content now under its belt, Journobot is now stretching to new content each month, powered by the collaboration between Davis and Krisanski, who has extensive experience in data visualisation and technology.
“With every new project, we take on another capability,” Ms Davis said. “With HomePrezzo, we’ve just built animated infographics that look fabulous on social media, and we are working on a property market news feed that agents and brokers will be able to use in their own marketing platforms.
“We’re even working on videos that mix CoreLogic property data with audience segmentation to deliver property content that is targeted at specific audiences such as first home buyers, investors or upgraders. The possibilities are endless.”
The Journobot process requires close collaboration with the client, ensuring complete marketing and legal sign off before the content is released at an individual office level. Set up time takes between six to eight weeks.