The impact of technology has crept into every known field but real estate sector has managed well to stay away from the technology changes. But the advances in virtual reality, artificial intelligence (AI), and the internet of things have brought some significant changes in this decade. These internet-based tools are now conducting various businesses just with the help of a Smartphone. In recent times, real estate sector has been showing significant changes and growth with AI. Clients are getting used to the changes and utilizing AI to save money and time. The real estate sector is able to reduce some operational costs, improve efficiency and reduce wastage of resources with AI.
Is AI helping real estate sector
With ever-changing technology, every field should embrace the changes as a part of evolution. The new data and technology are improving the efficiency and quality of work than ever before. These novel technologies may be helpful in achieving cutting-edge goals in major sectors but real estate may not be benefitting much from them even if they are integrated into the daily operations. Technology has helped professionals by creating better leads, pinpointing the prices, and has taken them closer to reaching their goals. Many jobs which are done by professionals are getting replaced with automation but real estate agents do not make the cut.
The current AI which replaced real estate agents is not achieving the full potential. Real estate agents can duly finish all the duties done by AI but AI has failed to capture the essence of realtors. Innate human behavior is much needed in real estate dealings which cannot be achieved with automation or robots. Real estate agents bring in their authentic intelligence for every transaction. Their trusted insight is much valuable and is more relevant to dealings in real estate.
Personal assistance and counselor
Virtual intelligence may be able to match the homes with buyer’s preferences but cannot guide them on the home tours. According to the buyer reactions and doubts, a realtor will be able to match the home of the client’s dream or make a promise to do the necessary changes to the property. Real estate agents can see the mood of the buyer and choose an appropriate time to close the deal. AI may be able to collect huge amounts of data regarding buyer and property but it takes an individual to sift through all that information before deciding on the deal.
Real estate agents act as counselors and confidantes who play important role in the home buying and selling experience which cannot be achieved by automation. Since buying a home is the biggest investment in the life of the client, realtors can empathize with them and give quick advice. A realtor is just a phone call away from the client throughout his buying journey. Real estate agents are the eyes and ears of locality in which the client is interested in buying. Finding the right balance between technology and humans is needed in every field to prosper.