The Artificial Intelligence revolution has begun. Although it is still in its infancy, AI is already facilitating self-driving cars and voice-activated home systems that set alarms and thermostats on their own. The technology may come off as intimidating to many in the real estate industry, but a more involved understanding of how AI and machine learning can make lives easier will cause all to approve of the technology. At this stage, it's not instantly evident how real estate is influenced by artificial intelligence. This includes buying, selling, and maintenance of the Real estate. Despite some challenges, AI promises to deliver excellent benefits to those who use it right.
The buzzword in almost every sector, AI was predicted to substitute the manpower by computers. It hasn't happened yet and presumably, wouldn't happen in the next decade either. However, there are immense advantages to the companies that are ahead in technology as compared to their competitors. Artificial intelligence has the potential to increase efficiency by a substantial amount and has become the latest rung in the helix of the ever-growing real estate industry's evolution.
Not a very long time ago, realtors used to go from door to door looking for potential clients. It was a grueling chore that had even the most efficient and organized agents cold calling for hours a day. With the excessive amounts of data, even the tiniest of human errors could set everything back. Luckily for realtors, those days are well behind. The biggest strength of AI systems lies in having access to tons of data and being able to find patterns in that data, generating insights and inferences while augmenting people's ability to make decisions based on that data.
Artificial intelligence may seem to pose a threat to realtors' jobs but truly, it's not something that agents should be afraid of. As mentioned earlier, even with the advanced technology, there's still a long time before mass industry adoption of Artificial Intelligence. In the meantime, realtors should embrace this technology as a unicorn as it can drastically reduce their workload, help them sell more, eliminate the pitfalls of any and all human error and help them reach home buyers that they might not be able to otherwise. Agents can save the time they otherwise would have had to spend on all the calling and making a clientele and spend it directly on the latent buyer instead.
An example of one such Real Estate that has become a front-runner in implementing artificial intelligence is TruConnectRE.Com
TruConnect Real Estate is deeply involved in the agent's gain. It not only provides them with solid leads but also offers a turn-key solution to the problems they're facing. With its data-driven, human-powered approach, TruConnectRE.Com provides the realtor with advanced AI software to manage and track the leads provided. The best part? TruConnectRE charges only a 25% referral fee subsequent to a closing! An effective lead generation system uses both, inbound and outbound marketing to engage buyers and take them towards conversion. To facilitate that, TruConnect also tailors and manages marketing material, establishing an all-in-one platform for the realtor. With its growing approach, TruConnect Real Estate does all the work for the realtor by generating thousands of real estate leads from around the world. And it doesn't end with that. They call the turnover, strain and ensure follow-ups until they find the ideal client for an agent to occupy. In doing so, they not only increase efficiency and cut down costs but also rid the agents of the tedious task of calling leads. This frees up time for the realtor to focus on the buyer, closing 2 to 5 times the deals they normally do. Agents are introduced to screened and effectuate clients and are left to form a relationship and seal the deal.
With all eyes on Artificial Intelligence, it's perceptible that this technology will largely impact the future of the real estate. It will be disruptive and will cut off some practices, but it will also save a great deal of time and money when it comes to operational efficiency and client service. Its ability to collect and analyze from a huge inflow of data is sure to make agents more effective, brokers more strategic, and clients ultimately empowered to experience the buying and selling process with a tap on the screens of their phones.
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