Artificial intelligence is an indispensable tool for the real estate business

  • On : November 20, 2018

It’s no secret that we are utilising Artificial Intelligence, or commonly referred to us as AI, in almost every industry these days. AI is slowly taking over businesses and the world as we know it. Artificial Intelligence is simply the advanced technology that solves problems by constantly learning over time and has the ability to pre-empt our specific wants and needs. Artificial Intelligence is a clone of the human brain and has the ability and accessibility to process information when a specific decision is required. There is no doubt that it is the most incredible technology to be witnessed in the 21stcentury so far!

Artificial intelligence’s aim is to simply improve and support the business world by harnessing and re-establishing our utilisation of technology. Industries such as Real Estate should not feel threatened of the replacement of their jobs, though rather understand the importance of both AI and Real Estate working together simultaneously.

Understanding our needs and wants

First of all, as a Real Estate agent it is very important to understand the individual and personalised wants and needs of every client and to then showcase the properties that best match and fit the proposed criteria. To be capable of this, it requires an extensive amount of knowledge and experience for the average human brain to process. However, AI has the ability to personalise customer interactions and determine the most effective touchpoints, to best reach their consumers within the Real Estate sector through the abundance of provided data and the results of the criteria. Overall, AI is able to market the most ideal properties to the best suited potential buyers or sellers.

Improving the overall experience

In addition to creating a marketing strategy fit for the customer’s need, the use of Artificial Intelligence also improves the customer experience at an increased more effective rate. Real Estate companies are now able to provide an AI-based 24/7 professional service to all customers who are seeking more information on the website or visiting the social media profile of the company. This is due to the fact that real estate businesses are utilising AI-based chatbots to provide additional support even when the office is closed.

Building the relationship is the key to success 

Thirdly, artificial intelligence has the power to build and maintain long-term relationships with every individual client. It’s important for every Real Estate agent to keep every client happy, even after they already purchased a property. Don’t forget circumstances change, and people may decide to settle down and buy a property or even want another one as an investment to rent out. Due to AI-based customer relationship management (CRM), Real Estate agents are able to keep their clients satisfied long-term, through the access to an abundance of data.

Overall, as each day progresses and flies buy the utilisation of AI in the Real Estate industry is significantly progressing and increasing. AI will only become more involved in our way of business and our day to day lives, we must embrace the takeover and not fear what It has to offer.