How Artificial Intelligence Will Affect Realtors and Housing
Technology has reached an important point wherein it has become a crucial part of daily life. From ordering food to hailing a taxi cab, there’s always a piece of tech in order to get validated. Come to think of it, it’s impossible to point out a task that doesn’t require the use of technology to some extent.
We can look no further than the real estate sector to get a better idea of new technology’s influence over our lives. From mobile apps to drones, real estate transactions and processes have been simplified, saving realtors and their clients time and money.
Recently, the sector has bee looking at artificial intelligence or AI as an area of opportunity. Though it’s still a work in progress, AI technology is currently being adopted by realtors. This is because people are already aware of AI’s value to the real estate market.
Let’s take a look at a few key takeaways:
1. Intelligent homes
As we are living in a world dominated by the “Internet of things” and big data, homebuyers now prefer homes that align with their lifestyles. At present, people generally want things to be provided to them on the double.
In other words, convenience and immediacy are what matter the most. With AI assistants such as Alexa and Google Assistant, homebuyers are able to live comfortably knowing that they can command their AI assistants by voice.
From a realtor’s standpoint, AI will essentially help along the lines of brand building (particularly in terms of content creation and distribution). Through marketing automation platforms, real estate professionals can tailor and deliver their message to the right audience, allowing for higher conversions.
This, in effect, will help realtors realize their marketing targets and create personalized campaigns that resonate with the needs of their clients. The impact on one’s bottom line is hardly negligible.
3. Commercial real estate
Businesses will need to adapt to the new and the fresh. To stay competitive, you should be able to upgrade your current talent pool and equipment inventory.
This may seem like too much of an investment already, but setting up a virtual assistant actually costs less. This is because you are using your AI system to handle time-consuming and tedious tasks. You basically save money that should have otherwise gone to operational expenses.
4. Home improvement
AI is not limited to virtual assistants who can book appointments on your behalf. There’s also technology that operates through machine learning. Tools that use this concept – such as augmented and virtual reality – can help homeowners with improvement projects.
For instance, using paint visualizer apps, homeowners can select and test possible colors for their walls. These apps can also come up with an optimal color palette that can go well with the interior.
Sure enough, we can’t discount the value that AI offers to real estate professionals and their clients. Though we’re still miles away from perfecting the technology, there’s no ignoring what it’s already capable of at present.