3 ways in which artificial intelligence can change the real estate industry

Ways in which artificial intelligence can change the real estate industry is not a secret anymore. From digital open houses to Bitcoin cryptocurrency to artificial intelligence (AI) platform, new technologies have taken the real estate world by storm. With the largest group of homebuyers represented by the tech-savvy millennials it becomes imperative for real estate agents to stay on top of these evolving trends. By doing so you will ensure to make among the top real estate agents.

Artificial Intelligence has great potential in the real estate market. Here are the 3 ways as to how artificial intelligence can help real estate businesses in their investing, selling, buying, and property management operations.

homebuyers look for propeties online

Finding homebuyers– AI offers better recommendations

For becoming a real estate agent you not only need to understand the market trends but also the clients’ requirements. If the real estate agents do not understand the client’s property needs thoroughly, then they won’t be able to suggest suitable options. However, with AI in place, the agents can transfer the learnings from customer’s communication into data. Once the data is stored it is used for generating customized AI-powered results based on individual client interactions. The AI-based solutions will help agents bring all marketing activity together to enable them to figure out what will work best for an individual client. This precise and targeted approach helps in bringing more sales for the agents.

chatbots can assist the clients with general real estate queries

Better sales- AI never sleeps

Artificial Intelligence based solutions like chatbots can help you in thriving your real estate business. You can use bots to provide 24/7 service to clients who will be visiting your social networking profiles or website. These bots can chat with the customer’s on agent’s behalf to resolve general queries thus ensuring that you do business even when your office is closed.

Chatbots have become popular across industries and can make recommendations based on client’s queries. AI automates most of the tasks thus freeing up time for real estate agents to spend it more on profitable tasks.

Building long-term relations with clients- AI makes the task easy

One of the important aspects of becoming a real estate agent is that agents have to maintain their client base for long-term since circumstances change and people move on to new properties. They may decide to purchase a new investment property or may want to sell or rent out an old property, the need for realtors is always there.

The task of managing client relationship management can be handled by AI which can free up agents time to crack new deals. The AI-based Customer Relationship Management (CRM) can help agents to build long-term relationships with clients. It can even predict whether an individual is likely to default on his loan or will fail a credit check thus allowing the real estate firms to function more profitably by cutting down on delays.

Besides that, monitoring of vital metrics in the field of property management can also be done with the help of AI. It can also assist in monitoring long-term trends in property prices in specific geographic areas.

artificial intelligence supports real estate agents

eXp Realty understands the power of new technology

At eXp Realty real estate agents have access to advanced technology tools that can help them in building a more profitable and productive business.

For more information on eXp Realty’s powerful technology tools, contact the team today.