When confronted with Artificial Intelligence, most people are either excited by its potential, uncomfortable, or sometimes fearful of the impact it could have on their job and livelihood.
The key to a successful Ai experience is to strategically adapt it with the human experience in mind. When adapted correctly, Ai can drive transformational change in all industries, including the real estate industry.
Robots can become our digital assistants, helping us achieve more – not replace us.
Ai is there to support and enhance human functions, not to replace them at the expense of the service experience.
Humans have evolved with technology:
- The Human Era (human to human)
Relationship management is done organically with simple systems like index cards. It is effective and some agents might still be working like this but it becomes difficult to achieve at scale.
- The Computing Era (human to machine to human)
Agents use digital tools and assets for relationship management in order to reach ‘more’ people. By using machines, they gain volume of relationships but lose the value of their relationships. Some real estate agents are in this era.
- The Intelligent Era (machine to human to human)
Ai-powered machines help humans create better relationships and more opportunities. Agents can maintain both volume and value of their relationships, at scale.
The faster agents get onboard with the intelligent era, the more opportunities they will get compared to their competitors.
There are 3 applications of Ai that agents can leverage right now in real estate.
- Data and Ai
1) First party data, which is data that exists within the CRM
2) Third party data, which is data purchased through other platforms.
By combining CRM, third party data and Ai, agents enhance the value of their data. Ai will process and learn from the connections and contacts in the database, which in return will give them the best environment to turn their data into gold opportunities.
- Machine Learning
With machine learning, algorithms get better and better at learning the data every time they run. This means that the robots make automatic improvements to the CRM and data so agents can focus on more important tasks. More importantly, agents can use machine learning to predict trends or potential activities from buyers, sellers, renters, investors, etc.
- Natural Language Processing
Think of chatbots. Robots understand and reply intelligently to messages without the need of a human supervisor. Using this Ai solution to prospect the database is a massive time saver as agents only have to talk to the people who want their property expertise now.
This is an exciting time for real estate agents. With Ai they can achieve so much more with minimal effort.
Watch our on-demand webinar to see RiTA, our Ai-powered lead generation platform. She does all the Ai things mentioned above.