A Better Way To Purchase Rural Properties with Zhou Kehan, Co-Founder of Terrascope

Zhou Kehan is the co-founder of Terrascope, a company that is described as the first A.I. real estate agent for finding and browsing rural properties online. When Kehan and his co-founder realized that the existing tools in the major properties websites did not provide for a good way to purchase rural properties, Terrascope was built on the mission to provide a better way to purchase rural properties. Terrascope does away with the filter based search results that works well for urban properties, but is too binary for rural properties, and adds a ton of features that are neglected which are important for rural property buyers such as land features, water features, easements and access to amenities.

Join us as Kehan shares about the pain points in the existing market that continue to exist even though rural properties form 20% of the property market in the United States of America, his best tips on how to build an efficient user interface, and why you should be obsessed with getting feedback from your customers.

Resources

www.terrascope.io – Check out Terrascope if you are interested in a better way to purchase rural properties!

https://terrascope.io/blog – Check out Terrascope’s free resource on buying rural real estate and the rural lifestyle!

Key Actionable Advice

1. Find out the pain points in your life. If there are no good existing solutions in the market, there might just be an underserved market for you to create an impact.

2. There’s a reason why companies that rely on artificial intelligence are built on a simple yes and no feature for its users. This is the best way to get accurate and concrete data from them, so think about how you can integrate this into your own user interface or surveys.

3. Be obsessed with getting feedback from your customers and developing your relationships with them. Not only will you be able to understand what they want better, they will also appreciate your efforts and become your advocates.

Show Notes

[3.00] Kehan originally grew up in China and managed to secure a scholarship to study in the United States and eventually started his career in Citibank.

[8.00] Kehan shares that Terrascope is the first artificial intelligence real estate agent for rural properties in the United States of America.

[9.00] Kehan chose to focus on rural properties his co-founder and him realized that all the existing search tools for properties today are calibrated towards urban properties and rural properties have a very different requirements. When the existing tools for urban properties were applied to rural properties it lacked many key features which were necessary for buyers of rural properties. Kehan and his co-founder also realized that rural properties formed 20% of the existing properties in the United States and found that this was an underserved market.

[12.20] Buyers of rural properties typically look at 3 to 5 times more variables and this include the land features, the water features, easements on the land, whether the land is private or public land, and access to amenities. This is in contrast compared to urban properties where buyers care more about the interior of the property.

[17.40] Existing tools for urban properties also take a filter based process which is too binary and is not able to balance the delicate differences many rural homes have. Many existing properties like Zillow also do not have many of the features buyers are keen to know.

[21.20] Kehan drew inspiration from how rural real estate agents worked. They do not work on a filter based system and they have a much more interactive experience with the customer instead and Terrascope is built on that basis. Customers are required to fill in a set of questions and Terrascope will begin showing properties that fit their criteria. Users then have a chance to say yes or no to the properties and the artificial intelligence starts to determine the types of listing that it understands you will appreciate.

[24.00] Terrascope also helps reduce the cost paid by customers by reducing the amount of commission that would other have to be paid to the buyer’s and seller’s agent. Terrascope also helps reduce the time agents need to show potential buyers the different properties.

[25.10] Potential buyers can still view the properties in person.

[27.00] Kehan shares the stories of the clients he has been able to help with Terrascope, and he realized that there are users outside of their expected target audience which they were able to serve as well.

[29.30] Terrascope uses a simple yes and no technique to build its artificial intelligence feature because this provides the most accurate and valuable data.

[33.50] Terrascope’s initial launch into California and Montana where very strategic choices.

[This transcript has been automatically generated by a digital software and will therefore  contain errors and typos. Please kindly take note of this and only rely on the digital transcript for reference.]

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A Better Way To Purchase Rural Properties with Zhou Kehan, Co-Founder of Terrascope

Zhou Kehan is the co-founder of Terrascope, a company that is described as the first A.I. real estate agent for finding and browsing rural properties online. When Kehan and his co-founder realized that the existing tools in the major properties websites did not provide for a good way to purchase rural properties, Terrascope was built on the mission to provide a better way to purchase rural properties. Terrascope does away with the filter based search results that works well for urban properties, but is too binary for rural properties, and adds a ton of features that are neglected which are important for rural property buyers such as land features, water features, easements and access to amenities.

Join us as Kehan shares about the pain points in the existing market that continue to exist even though rural properties form 20% of the property market in the United States of America, his best tips on how to build an efficient user interface, and why you should be obsessed with getting feedback from your customers.

Resources

www.terrascope.io – Check out Terrascope if you are interested in a better way to purchase rural properties!

https://terrascope.io/blog – Check out Terrascope’s free resource on buying rural real estate and the rural lifestyle!

Key Actionable Advice

1. Find out the pain points in your life. If there are no good existing solutions in the market, there might just be an underserved market for you to create an impact.

2. There’s a reason why companies that rely on artificial intelligence are built on a simple yes and no feature for its users. This is the best way to get accurate and concrete data from them, so think about how you can integrate this into your own user interface or surveys.

3. Be obsessed with getting feedback from your customers and developing your relationships with them. Not only will you be able to understand what they want better, they will also appreciate your efforts and become your advocates.

Show Notes

[3.00] Kehan originally grew up in China and managed to secure a scholarship to study in the United States and eventually started his career in Citibank.

[8.00] Kehan shares that Terrascope is the first artificial intelligence real estate agent for rural properties in the United States of America.

[9.00] Kehan chose to focus on rural properties his co-founder and him realized that all the existing search tools for properties today are calibrated towards urban properties and rural properties have a very different requirements. When the existing tools for urban properties were applied to rural properties it lacked many key features which were necessary for buyers of rural properties. Kehan and his co-founder also realized that rural properties formed 20% of the existing properties in the United States and found that this was an underserved market.

[12.20] Buyers of rural properties typically look at 3 to 5 times more variables and this include the land features, the water features, easements on the land, whether the land is private or public land, and access to amenities. This is in contrast compared to urban properties where buyers care more about the interior of the property.

[17.40] Existing tools for urban properties also take a filter based process which is too binary and is not able to balance the delicate differences many rural homes have. Many existing properties like Zillow also do not have many of the features buyers are keen to know.

[21.20] Kehan drew inspiration from how rural real estate agents worked. They do not work on a filter based system and they have a much more interactive experience with the customer instead and Terrascope is built on that basis. Customers are required to fill in a set of questions and Terrascope will begin showing properties that fit their criteria. Users then have a chance to say yes or no to the properties and the artificial intelligence starts to determine the types of listing that it understands you will appreciate.

[24.00] Terrascope also helps reduce the cost paid by customers by reducing the amount of commission that would other have to be paid to the buyer’s and seller’s agent. Terrascope also helps reduce the time agents need to show potential buyers the different properties.

[25.10] Potential buyers can still view the properties in person.

[27.00] Kehan shares the stories of the clients he has been able to help with Terrascope, and he realized that there are users outside of their expected target audience which they were able to serve as well.

[29.30] Terrascope uses a simple yes and no technique to build its artificial intelligence feature because this provides the most accurate and valuable data.

[33.50] Terrascope’s initial launch into California and Montana where very strategic choices.

[This transcript has been automatically generated by a digital software and will therefore  contain errors and typos. Please kindly take note of this and only rely on the digital transcript for reference.]

Click To Subscribe

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Download the One Stop Business Plan for a free step-by-step guide on how you can chart out a comprehensive business plan quickly and effectively.

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Download your free copy of the One Stop Business Plan today!

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Download your free copy of the One Stop Business Plan today!

Success! Now check your email to confirm your subscription.