HOW AI-ASSISTED PROPTECH WILL CHANGE PROPERTY LISTINGS FOREVER

By Curtis Williams, Land Investment Professional, National Land Realty

and informatively to potential buyers. These two components can play a significant role in marketing properties e ectively and attracting the right buyers.

This article will discuss various proptech tools that aid in story research and presentation, address potential concerns and highlight the long-term benefits of proptech adoption in real estate. Let's begin by examining how proptech transforms how properties are researched and presented to potential buyers.

Story Research

Story research is all about collecting and analyzing relevant data and information about a property. Here are a few tools:

HouseCanary: HouseCanary’s suite of tools and services gives buyers and sellers the information to decide how a property is expected to perform and appreciate. It has an automated valuation model (AVM) that can evaluate and forecast the performance of a property. Using comparables and historical sales data, users can run reports to visualize the property’s current and potential value. In addition, HouseCanary uses AI-assisted algorithms to create a three-year look-forward forecast of value changes.

Deep Block: This tool discloses information on the current and future zoning of a property. Deep Block is geared toward property owners and developers. Users can search for parcels with potential for development. Deep Block uses AI to crunch big data about a city’s infrastructure, zoning ordinance and future comprehensive plans. The overlay of economic and social demographic filters gives users a better understanding of potential development. Agents can use the tool to search for potential sites for buyers. On the other hand, an agent can use the tool to convince an owner it’s the perfect time to sell or even formulate a plan for whom to market to.

Midjourney: Midjourney allows buyers to get a clear view of the layout of the property they are considering acquiring through conceptual designs and site plans. This is especially useful for large dwellings. Midjourney is an AI-assisted text-to-image creation tool. Buyers, sellers and agents can use the tool to iterate through design ideas. This is useful for sellers of raw land. The tool has the capability to blend two images — for example, a user could snap an “as is” photo of a valley of the parcel, then include a stock image of a modern farmhouse. The result is a set of four image composites blending the two.

Story Presentation

The story presentation is the process of communicating the information gathered during the story research phase in a compelling, organized and visually appealing manner. Here are a few tools to use:

ChatGPT: ChatGPT can build a crisply written property description that will o er buyers a complete and engaging picture of the property. Users can utilize ChatGPT to create video treatments for the property. Real estate agents can develop a cinematic story around the history and future potential of a property. With the properly formatted text-based ask, the voice-over script and storyboard of a three-act story showcasing the parcel’s unique characteristics are generated.

Real estate agents can also use the tool to build on the story with ChatGPT’s assisted descriptive blog and social media posts. It’s also possible for users to change the style of writing as fast as modifying ChatGPT AI prompts. An agent can easily change the tone of the copywriting from business serious to humorous and everything in between. This provides the capability to customize a message to fit the brokerage’s brand and image.

Descript: Descript is a cinematographic tool that uses AI to turn text into video. The result? A professional quality video production. Descript is a drag-and-drop video editing tool with excellent user-friendly features. The tool enables users to drop in the video. Descript then transcribes the video and allows users to edit the text of the transcripts, include AI-generated stock voices or record audio overdubs. One great feature is Descript's AI-generated green screen. This allows background removal videos without the need for a green screen. It also increases the flexibility of using talking head videos. Agents can shoot videos anywhere and replace the background with something content related. AI analyzes the background of the video and removes it.

Matterport: Matterport uses AI to create a “digital twin” 3D image of a house, business, factory or other dwellings, allowing people an immersive virtual walk-through visit. Matterport has become a very popular application in the last few years and continues to advance quickly, making for ever-more-realistic walks.

Synthesia: Synthesia has a library of video templates, including avatars, text, audio and transitions agents that can add and edit. Users can also create their own templates. One great feature of Synthesia is its AI-generated script creator. This tool allows video creators to add an audience, objective, persona, tone and other attributes. The technology uses these to develop a video script with scenes your avatar uses to perform in the video.

Enhancing, Not Replacing Traditional Practices

While proptech undoubtedly revolutionizes property listings, some critics argue that it may alienate traditional buyers and reduce the personal touch in real estate transactions.

Critics suggest that reliance on proptech may make it di cult for older, less tech-savvy buyers to navigate property listings or that it could eliminate the human connection crucial to the real estate business. However, these concerns are mitigated by the versatility and accessibility of the proptech tools. Many of these applications are designed with user-friendly interfaces, allowing people of various technical abilities to benefit from their features.

Moreover, proptech supplements, rather than replaces the work of real estate agents, who can still provide personalized guidance and assistance to clients throughout the buying process. Ultimately, the potential drawbacks of proptech adoption do not outweigh its numerous benefits in enhancing property listings and empowering buyers and sellers with valuable information. Having addressed the potential weaknesses of proptech, we can now rea rm its transformative impact on property listings.

Transforming Property Listings

Proptech is poised to change property listings forever by revolutionizing story research and presentation, ultimately improving the property buying experience. Through advanced tools like those described above and others, proptech enables users to access comprehensive property information, create engaging visual displays and streamline the overall process of buying and selling property.

The widespread adoption of proptech in the real estate industry can reshape market dynamics, improve transparency and democratize access to property information, making it easier for people to make informed decisions when investing in a property. As proptech continues to evolve and integrate into the real estate landscape, embracing these innovations will be crucial for industry professionals and buyers to thrive in an increasingly competitive and data-driven market.