There is no doubt that Artificial Intelligence is improving in every aspect. Whether it be in everyday technology or in business, the changes in AI are clear to see if you know what you are looking for. When it comes to the real estate industry, Artificial Intelligence is changing the way we do things. More and more of our daily business becomes automated, and it is changing the way we use customer relationship management or CRM.
How AI will drive real estate’s evolution in 2018
In the very near future, machine learning and artificial intelligence will play a much larger role in the industry, and there are no signs of AI growth slowing down anytime soon. Global AI revenue is constantly growing, and roughly 75% of all developers currently use some form of AI technology in one form or another. This means the creation of the digital end of your business will soon be majority reliant on AI technology for your daily business operations.
In real estate especially, the time-saving benefits of AI technologies are priceless. What was once a tedious process of manually sorting through data to try and identify opportunities, leads, prospects, and trends is now all performed by automated artificial technological beasts. Most of which are very easy to come by, as well as being affordable enough to factor into your everyday running costs.
Having technology available, that knows who is ready to buy, when they are ready, what neighbourhoods are booming and how to connect the dots between these elements is invaluable in the real estate industry. The most time-consuming tasks have been automated, allowing any seller to do their job of selling. Gone are the days of paper trails and endless researching and data crunching, to match buyers with sellers. AI has simplified your job. It has changed the way we do business to the extent that we are far more productive, and far more efficient.
Artificial Intelligence brings all the available resources together, allows you to focus on direct customer focus, and achieve far better sales targets. AI saves time. It’s plain and simple. An agent’s role requires balance, and AI helps to achieve this balance by allowing you to focus on the things that cannot rely on Artificial Intelligence.
AI helps to generate a higher quality of leads through the data that is compiled and sorted. AI data crunching happens in a matter of seconds, where it can take days for a human to do the job, especially when you have face to face meetings with existing prospects and leads. AI can pinpoint the people who are ready to buy or ready to sell. Every year more and more people buy and sell homes using the internet, and this is where AI truly shines through. Artificial Intelligence gathers buyer and seller data from the internet and knows who is ready to buy or sell. Everywhere from social media to property databases offer a plethora of information that AI uses to make your job simpler.
What Lies Beyond?
Beyond the generation of leads, AI helps to also enrich and validate them with data, provide insight into lead preferences and behaviours to allow you, the agent to approach with a considerate and strategic manner. AI has also opened new possibilities for targeting and behaviour analysis and will scan social media to find the people most likely to respond to a specific type of marketing campaign. From there it can create ads for the specific person based on their search data.
There are hundreds of ways AI and automation can help your real estate business boom, and this just scratches the surface.