In 2022, 35% of businesses worldwide used Artificial Intelligence (AI). That percentage is expected to go up over the years as AI adoption is increasing by leaps and bounds. Proper use of AI in real estate can save time, increase productivity, improve online presence, and up your overall effectiveness as a Realtor. But you have to know exactly where you can use it. You don’t want to depersonalize your business! In this post, I’ll give you my five best ways to implement the use of AI in your real estate business.
Using a Chatbot to Generate Leads
According to a recent report by Chatbots Life, out of 5 key industries, real estate ranks number one as the industry most benefiting from the use of chatbots. This is believed to be due to the modern technology used by chatbots, as well as the motive of the interested party using the chatbot. Years ago when companies first started using chatbots, they came off as fake and annoying. Today, modern technology has allowed chatbots to “think” and “talk” indistinguishably to a human being. When a potential client visits your website, a chatbot provides a fast and easy opportunity for communication. Those who are seriously interested have a unique ability to connect quickly. The chatbot can prompt the interested party into sharing exactly what they are looking for and cut out the legwork for the real estate agent, providing a strong lead.
Analyze Public Data for Predictive Analytics
There’s no way to know the future, but real estate agents know the benefit of analyzing public data to make strong predictions of who might be on the market to buy or sell real estate. Pulling different types of public data is a lot of work for a human to do on their own or even with a team, but with the use of AI, public data can be analyzed quickly and seamlessly. Here are some examples of what AI can help you pull to identify potential clients:
Virtual Tours
Covid-19 made virtual tours in the real estate industry a necessity. Since then, many real estate agents have decided to keep including a virtual tour option in their listings. Different from a photo gallery, the AI technology used for virtual tours provides clients the ability to “move” around the property, enjoying a 3D view. Special features include zoom, audible notes, and a panoramic view. This can be especially useful for clients searching out of town and with a home that is still under construction.
Create Market Listings
Writing out the description of a property on a listing can be a very time consuming task, especially if a listing needs to be duplicated across multiple websites. AI that uses image recognition and computer vision technology can scan multiple images at once and identify key details necessary for the listing description. For example, images on a house you upload might show a modern kitchen, hardwood floors, fenced yard, metal roof, etc. The use of this type of AI can ensure no important details get missed!
Content Creation
Real estate agents know the value of self promotion on social media. For successful social media marketing, you have to be consistently posting content which can take up a lot of your extra time. AI-powered tools used to create content also help generate exact key phrases people are searching for. This can improve your Search Engine Optimization (SEO) and guide your overall content strategy. This AI technology can also help you create more effective content by showing you how long your page or site was visited, and where people clicked away after viewing your content.
Benefits and Challenges of Using AI
We’ve learned that AI can increase efficiency, improve customer service, and provide greater insights and analytics. It’s no wonder the use of AI is growing in the business world. Though AI is a wonderful tool, it cannot replace you and your role in building relationships in real estate. Once you have great systems in place through the use of AI, instead of sitting back, lean in to your clients and their needs. I love helping real estate agents build relationships with their clients and watch their business grow. Check out my video here on the best tips for converting your leads!
Join My Team
Looking for ways to add value to your home before listing it on the market? Consider installing some smart home technology. Smart home technology can definitely increase market value. In fact, appraisers make special “adjustments” when comparing technology-enabled homes with similar technology-deficient homes. In recent polls, the majority of real estate
In 2022, 35% of businesses worldwide used Artificial Intelligence (AI). That percentage is expected to go up over the years as AI adoption is increasing by leaps and bounds. Proper use of AI in real estate can save time, increase productivity, improve online presence, and up your overall effectiveness as a
Real estate agents are too busy to handle every single task the job demands. That’s why efficiency, delegation, and streamlining are so important! However, it usually takes some money to set these types of processes up well. Do you know how much money you are actually spending on your real estate
