Artificial intelligence is transforming industries before our very eyes. Notably, the finance and technology sectors are thriving, driven by the research into and the utilization of AI.
Of course, these sectors are intertwined with the very nature of AI – but its influence doesn’t stop there. AI is revolutionizing sectors beyond the obvious and, while they may be lagging slightly behind in terms of the rate of advancement, more traditional sectors are slowly realizing the power behind this technology – and weaponizing it.
Real estate and AI might not be your immediate thought when it comes to crossovers, but there lies a deep and largely unexplored potential for optimization here.
This article explores some of the major ways in which real estate agents can utilize AI to enhance their operational capabilities.
The Digitalization of Estate Agents Up to Now
Estate Agents have already come a long way, with recent tech innovations in the industry revolutionizing the way that these companies operate. Most notably, some estate agents operate entirely online, using modern technology to streamline their processes without the need for physical estate agent offices.
Online house-selling agents are able to provide fully managed house-selling services to suit the needs of different homeowners. This means that you can now sell your home for free, faster than most traditional estate agents when you sell via an online estate agent. The model is a response to a general shift in how consumers want to access property-related services. And various AI technologies are emerging for the same reasons.
Creating and Training Customized Chatbots
Companies like OpenAI and DeepSeek have revolutionized intelligent chatbots. While these models are excellent for general use, they lack the company-specific knowledge that would be most useful for estate agents.
An AI model can be created and trained specifically to respond to any question that a customer of a specific estate agent may have.
This also means that employee time is not spent dealing with repetitive inquiries and can be allocated elsewhere.
Automating customer service in this manner allows estate agents to devise and optimize growth plans without being inundated by FAQs.
Removing Humans from Property Valuations
AI-powered tools can be adopted to analyze market trends without the significant man-power that this might have required previously.
When combined with an analysis of geographical data and the history of house prices, property valuations can be automated.
Customers could submit their property details to receive an instant valuation of their home that is based on a deep level of real-time analysis. They would not have to deal with the hassle of organizing individual estate agents to come out and view their home or any other time-consuming process.
Once they receive this valuation, their information can be processed to generate the lead.
Automating Outreach and Document Drafting
If a prospective customer has entered details regarding their property, AI-powered tools can be used to automatically put this person in touch with the appropriate people at the estate agent.
Providing that they outline more specific details of their required contract, optical character recognition can be used to extract this data from their submissions and automatically draft the subsequent legal documents.
The Future
Estate agents are not at the forefront of technological progression, but this does not mean there is no effective use of AI in the industry.
When you combine the expertise of estate agents with the capabilities of artificial intelligence, you will achieve an almost unrecognizably efficient industry.
