"The beauty of AI is that it is built on the data that we, as consumers, have created over the past 30 years. The more agents educate themselves on AI, the more successful they will become."
AI has been making waves in many industries, and real estate is no exception. The intersectionality of technology with estate agencies has opened up a world of possibilities for the industry, including the emergence of AI.
AI will power every business process within the real estate sector in the next 10 years. This means that individuals and businesses that adopt and embrace it will become superhuman in their practices, allowing them to achieve things that were not possible before.
AI can currently be used in two main ways, as an assistant or an amplifier. As an assistant, AI's goal is to save time and effort in completing certain tasks, such as generating marketing copy for listings. On the other hand, as an amplifier, AI augments human abilities. For instance, it can provide a deeper understanding of a property, a location, or a client's needs, making individuals and businesses smarter and faster.
One of the most significant impacts that AI can have on real estate businesses is in marketing and search. It can be embedded in a website to provide a customised experience for users, making it easier for agents to generate content and advertising texts quickly. It can also be used for market research, listing competitors, and preparing public relations pitches. With the click of a button, social media feeds can be propagated simultaneously on multiple platforms.
The beauty of AI is that it is built on the data that we, as consumers, have created over the past 30 years. The more agents educate themselves on AI, the more successful they will become. Now, there will always be a place for estate agents who are phenomenal at communicating and interacting with customers. However, relationships are becoming more dependent on the information collected about a property or a consumer to better serve them.
The real estate industry is slow-moving when it comes to adopting technology, despite being one of the oldest and biggest industries globally. The integration of AI in real estate could change the way we do things in the industry. AI can predict the most likely word that a user wants to hear and provide the best search results, making it easier to find the right property for the right client. AI could also provide more accurate valuations for properties, making transactions more efficient.
In conclusion, AI has the potential to make businesses smarter in the real estate industry, and ultimately the costliest part of artificial intelligence will be not learning how to engage with it.
It can help individuals and businesses save time and effort while providing a deeper understanding of properties, locations, and client needs. By embedding AI in websites, agents can provide a customised experience for users, generate content, and advertise texts quickly and at scale. Those who educate themselves on AI will be the ones who succeed in the industry.
As AI continues to evolve, we can only imagine the endless possibilities it holds. In the long term, there will be profound changes to the way that we interact with technology; it will upend industries. We've already seen the impact of things like social media. Mark my words. This is the future. We're witnessing a real-time experiment of human interactivity with computers that we'll never see again in our lifetimes.
