According to Sharad Agarwal, CEO of Cyber Gear, Artificial Intelligence is about to hit the real estate industry, hard. It will be almost a knock out blow! Either you embrace it or it will get you. The real question is whether you’re going to be able to ride the wave and take advantage of new technologies or whether you’re going to get left behind. It’s up to you.
The most successful real estate companies are likely to be the ones which accept this reality and will embrace AI and use it to revolutionize the way they do business. Salespeople will identify the client’s needs before they harvest real estate data from designated sources.
They will also need to be able to convert what they learn into data that an algorithm can understand. Then AI will be used to find the ‘best fit’ for the client’s investment. The predictive analytics generated through AI based on trends analysis includes outliers that humans can miss. AI helps make smart decisions.
Here is the real deal. The web and AI and never sleep. That means you can use AI-based bots to provide 24/7 coverage to customers who visit your website. They can ‘chat’ with customers on your behalf and help you to make money even when you’re asleep, and the office is closed!
Further, real estate agencies can develop long-term relationships through AI-based CRM systems. AI can even predict whether people are likely to default on their loan or to fail a credit check. This allows real estate firms to function more profitably.