Spring marks the beginning of the busiest home-selling and home-buying season of the year. And with over half of clients who go on to buy property starting their search on the internet, the real estate industry is poised for a technological transformation.
While the real estate industry has managed to stay mostly unaffected by recent tech disruptions, artificial intelligence tools are increasingly finding their way into the real estate business, bringing with them massive potential.
For real estate agents and marketers, AI can help streamline data from renters, buyers, property owners, and potential clients to boost their marketing efforts and increase sales.
Read on to find out more.
What You Need to Know: Sold! Finding a Home with AI
AI is Changing How Real Estate Professionals Do Business
What does the rise of AI mean for renters, buyers, and real estate professionals? From machine learning that can help property managers find new tenants (and tenants pay rent), to virtual real estate tours and chatbots that can help renters report issues, there is a lot on the horizon for implementing AI technology in real estate.
How Data and AI are Changing the Real Estate Game
Artificial intelligence is becoming more and more prominent in the real estate industry. SetSchedule, a real estate data analytics and marketing company, recently launched a service called SetValue which combines data analytics and artificial intelligence to deliver accurate property valuation and make real-time connections with qualified real estate professionals.
Artificial Intelligence is the Latest Competition for Real Estate Agents
REX Real Estate Exchange is using artificial intelligence and machine learning to crunch over a hundred thousand data points and identify thousands of the most likely buyers for a home, targeting them with ads on websites and social media. REX charges a lower commission than the typical real estate agent, and also deploys robots at open houses to answer questions.
Digital Auctions Start Up Gavl Looks Offshore Thanks to IBM’s THINK
via Financial Review
Gavl, an Australian digital property auctions business, is getting ready to expand to the US and Britain thanks in part to the integration of IBM’s marketing and customer onboarding tools. Future plans for Gavl include leveraging IBM Watson to build a virtual technical assistant that would support agents and detect any issues with the technology, before they become problems.
Real Estate Tech Startup First.io Raises $5M in Series A Funding Round
First.io is just one example of how real estate agents are leveraging artificial intelligence to help drive sales. First.io uses AI to help real estate agents connect with prospective home sellers ahead of their competition. Their machine learning platform analyzes hundreds of data points, and helps agents prioritize and facilitate communication with contacts that could ultimately lead to revenue.