October 10, 2018
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Lauren Jones

How AI Has Advanced the Real Estate Industry


As technology continues to progress and businesses find themselves in need of automation systems that allow them to tackle more work while having to do less, artificial intelligence (AI) has managed to become an extremely useful tool that is being utilized by all industries. The real estate industry is no exception! In fact, AI has revolutionized the way that real estate agents conduct business. Want to know how you can begin implementing AI into your real estate strategy and the benefits that it can provide once you do? Use this comprehensive guide below to better understand the uses of AI in regards to real estate and to learn about a special tool that will kickstart the process.

How AI Has Managed to Affect the Real Estate Industry

Engagement, information, and personalization are key. However, it can be difficult to make sure that you are meeting each of these needs perfectly when you are juggling multiple clients on a regular basis. AI manages to tackle each of these important aspects and more. Here are a few of the major ways that AI has affected the real estate industry.


 Better Relationship Building With Clients

It is a common occurrence that agents focus on the immediate needs of clients and how they can best serve them in order to meet these needs. Although this isn’t a bad strategy, and agents surely won’t ever run out of people who are going to need help searching for and purchasing homes, strong long-term relationships with clients will allow you to serve them now as well as in the future. This is where AI comes in. AI software keeps track of all of these clients, continues to reach out and provide them with information so that they know they are supported by you, and calculates when your client might run into trouble with their home. This software allows you to stay top-of-mind with your previous clients while also advocating for new ones. Best of all, AI software is automated; the perfect “set it and forget it” system that minimizes work and effort on your end.


AI-Powered Data

Data drives results. There are surface level data points, such as popular housing needs and the most desirable areas in which homeowners are looking to live, and then there are more complex data points, such as the value of a house based on the current conditions of the market and predictions made based on these types of deeper data points. With an AI program, you will be able to keep track of all data points and lead your clients to make the most financially viable decisions.  



Creation of Personalized, Up-to-Date Marketing Content

While you can make a point to stay up-to-date with trends in the real estate market, you also have houses to show, clients to contact, and loans to approve. As real estate professionals, you're already juggling plenty of tasks as is, so maintaining an optimized marketing strategy without hiring specific personnel to do so can feel like a daunting task. This is where AI can help tremendously. AI is capable of tracking all of the current trends, analyzing user behavior and needs, and providing tailored content that supplies users with what they want to see most. This gives you the opportunity to focus on aspects of your real estate practice while your technology keeps your clients in the know.


Comparison Tools

It can be hard to find a new place to live, even when searching for a location in your own area. The biggest issue is that consumers need to be able to see how each desired neighborhood or zipcode measures up to their expectations and the disadvantages and advantages of choosing one location over another. You can make sure that you are delivering this information by using AI that allows clients to compare metrics such as pricing, size, community, moving timelines, rates, and other needs that your client may consider for their ideal living situation. With quicker access to these comparisons, you will be able to close the deal faster.

So, now you have a better idea of how AI can help you in your real estate practice… but where do you start?

The Solution to Your Real Estate AI Needs

In order to begin taking advantage of the growing AI trend and incorporating it into your own marketing strategy, it’s best to jump in headfirst and use a software that allows you to reap the benefits that AI has to offer in your real estate practice. However, it can be hard to know which software to start with as there are a lot offered— but not each one will give you the help that you need. The solution? Try Homebot!

Homebot now offers two products designed to help you build and maintain strong relationships with your clients for life, these being Homebot for Homeowners and Homebot for Buyers. Both are fully-automated AI programs that focus on helping your clients and buyers build and maintain wealth through real estate investments. Through you, clients receive a monthly, personalized financial digest detailing all the information they could want or need for their specific real estate goals, while also being encouraged to reach out to you with questions.

 

If you’re interested in learning more about Homebot, you can schedule a one-on-one demo with one of our team members.



Article References:

  • https://www.inc.com/james-paine/3-ways-ai-is-changing-real-estate.html
  • https://www.attomdata.com/news/attom-insights/artificial-intelligence-real-estate-today-tomorrow-future/


 


About the Author

Lauren Jones

Marketing Manager

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