11/23/22, 11:28 AM
How AI Is Shaping Real Estate | Jack Elkins | Real Estate
a How AI Is Shaping Real Estate by Jack Elkins | Nov 23, 2022 | Jack Elkins, Real Estate
The term artificial intelligence has become a buzzword in the real estate industry, and it’s commonly misunderstood. Contrary to popular belief, the rise of AI does not mean that computers will replace people in the future.
The concept of artificial intelligence emerged because of the need to collect and use vast amounts of data to improve the efficiency of people’s lives. It’s about helping them make better decisions by analyzing and applying the data collected from various digital activities. Here are some of how AI is changing how we look at real estate.
Provide tailored recommendations to customers https://jackelkins.org/how-ai-is-shaping-real-estate/
1/4
11/23/22, 11:28 AM
How AI Is Shaping Real Estate | Jack Elkins | Real Estate
Similar to Amazon’s recommendation engine, AI can help real estate agents improve the efficiency of their sales by delivering relevant and personalized offers to their customers. Large estate agencies can save their customers a lot of time and effort by optimizing their offers.
Through AI, real estate agents can create customized listings for their clients based on their preferences, previous viewings, and demographic details. These techniques can also help first-time buyers find the ideal property.
Perform analyses of the market AI can also help predict the future outcomes of various markets, whether it’s complex market patterns or global weather patterns. This area can potentially have a huge impact on the business world. In the real estate industry, investors are hoping that this technology will allow them to make better decisions.
Using data and human expertise, AI can help investors make informed decisions when it comes to investing in the real estate industry. It can also identify the latest trends and provide them with the necessary insight to make informed decisions. This, in turn, reduces risk and maximizes Return on Investment.
Offers simplified customer care Calling a help desk is one of the most stressful things in the real estate industry, as it can take a long time to get through to a real estate agent. Having a fully staffed call center is not feasible or even desirable for small and medium-sized real estate firms.
Fortunately, with the help of AI-powered chatbots, most customer care queries can be handled without a problem. In some cases, these can even be more effective than the agents themselves. Moreover, advancements in machine learning and natural language processing have made it easier for customers to interact with these new technologies in a similar way that they’d interact with a real agent.
Enabling smart contacts https://jackelkins.org/how-ai-is-shaping-real-estate/
2/4
11/23/22, 11:28 AM
How AI Is Shaping Real Estate | Jack Elkins | Real Estate
The rapid emergence and evolution of smart contracts have made it easy for businesses to grow faster and more efficiently. With the use of these contracts, real estate can benefit from the ability to create immutable transactions, which can eliminate human error and time-consuming processes.
With the help of predefined rules, smart contracts can be executed without requiring human intervention. These rules can also check the legitimacy of the contract and prevent fraud. In the future, real estate transactions will be conducted as if they were conducted online.
Search
RECENT POSTS Tips for New Real Estate Agents How AI Is Shaping Real Estate Increasing the Value of a Property The Best Cities to Invest in Real Estate Renovations that Make a Big Impact on Selling Prices
Links Jack Elkins' Angel.co Jack Elkins' Behance Jack Elkins' CrunchBase Jack Elkins' Elephant Journal Jack Elkins' Facebook Jack Elkins' Instagram Jack Elkins' Issuu Jack Elkins' LinkedIn Jack Elkins' Medium https://jackelkins.org/how-ai-is-shaping-real-estate/
3/4
11/23/22, 11:28 AM
How AI Is Shaping Real Estate | Jack Elkins | Real Estate
Jack Elkins' Pinterest Jack Elkins' Quora Jack Elkins' Real Estate Website Jack Elkins' Realtor.com Jack Elkins' ThriveGlobal Jack Elkins' Twitter Jack Elkins' WordPress Jack Elkins' YouTube Jack Elkins' Zillow William Raveis Profile
© Jack Elkins 2022
https://jackelkins.org/how-ai-is-shaping-real-estate/
4/4