AI is taking the real estate industry by storm. Machine learning technology found its inroads in the industry in 2018 when the first sales transaction was done. The two apartments were worth $26 million, and the entire process was via artificial intelligence. The technology has since evolved and is used by real estate professionals in decision-making. Deloitte projections reveal that by 2023, global real estate investments in AI will be $97.9 billion.
Powering your operations with AI technology will give you a comparative advantage over other realtors. Christ D. Bentley, the owner of Bentley Fine Properties, unveils how AI has revolutionized the real estate sector.
Creation Of Leads
Real estate companies have evolved where they employ AI techniques to identify customers interested in their properties. Realtors used to waste much time engaging with unconvertible leads for their apartments. Machine learning has facilitated the easy acquisition of new customers for their products. The technique uses data analytics to qualify the leads with high chances of buying your properties.
Through AI, you can use existing leads to generate more. The machine learning technique uses browsing patterns of the existing leads to create more. The strategy would increase the leads in your pipeline that you can convert into business.
AI has facilitated the innovation of chatbots that you can integrate into your website. The software offers virtual assistance to your customers. The technology would help save you from the ballooning wages you could have paid employees to assist in serving your customers. The chatbots respond to online inquiries from your customers.
The chatbots offer support to your customers on a 24/7 basis. It would humanly be impossible to serve customers post regular office working hours. With AI, customers’ satisfaction has increased because they can ask questions and receive real-time responses. You will enjoy high customer loyalty if you adopt the technology in your operations.
Speed Up Mortgage Access
AI-powered credit scoring software has facilitated easy assessment of customers’ repayment records. The technology would help you analyze customers’ integrity before mortgage approval. AI can help process your customers’ mortgages 24/7, which speeds up the loan processing to enable your customers to access credit more quickly for purchasing your properties.
Assessment Of Property Before Buying
Artificial intelligence has increased efficiency and convenience for real estate customers. They can analyze the building’s features and the security of the locality before purchasing their dream home. If you are a first-time home buyer, you can use the available digital data about the available houses to determine the one that best suits your interests.
The buying, selling, and mortgage approval have been sped up by AI use. The technology has also provided a mechanism that enhances the security of your commercial and residential apartment. To be ahead of other realtors, you would need automation of your activities via AI. For more information on integrating AI into your real estate operations, contact Chris D. Bentley on Twitter at @https://twitter.com/ChrisDBentley or on Linkedin at https://www.linkedin.com/in/chrisdbentley/.