Numerous innovative enterprises have integrated Artificial Intelligence into their operations, and its influence has permeated every aspect of the real estate sector.
Although still in its early stages, Artificial Intelligence (AI) has already been successfully incorporated by a number of innovative companies. AI is revolutionizing every aspect of the real estate industry, from the proliferation of chatbots, to the implementation of recommendation algorithms in real estate portals and process automation.
This article highlights several pioneering companies and how they are leveraging AI to gain a competitive edge in a crowded and challenging market.
- AIRE
AIRE, an Australian company, is dedicated to assisting agents in optimizing their CRM databases through their digital employee platform, RITA. RITA harnesses the power of AI to analyze and manage vast amounts of data, integrating it with information obtained from third-party sources to inform sales and marketing strategies and enhance the pertinence of information in targeted markets and regions. Essentially, RITA functions as a personal assistant for busy agents, enabling them to provide significantly enhanced customer service that addresses the specific needs and desires of individual consumers.
- FIRST
First, a company based in the USA, follows the belief that agents possess sales opportunities within their databases and CRM that are waiting to be discovered. To capitalize on these opportunities, the company utilizes AI to scrutinize an agent’s network, comprising their database and social connections, to pinpoint the prospects that are most likely to make a purchase within the next year. Their AI system assesses over 700 factors related to 215 million individuals living in 100 million households in the United States. This approach enables agents to generate more transactions from their existing relationships and minimize the number of missed opportunities.
- NOBBAS
Nobbas, a company based in Canada, has a primary focus on utilizing artificial intelligence to aid in the precise targeting of rental and real estate searches. In addition, the company facilitates collaboration between roommates or partners by preventing the same real estate listings from appearing on all portals. With over 1.4 million listings in the United States, Nobbas uses a user interface similar to that of Tinder, where users swipe left on properties they are not interested in and right on those that they are. The company offers apps for both Google Play Store and Apple’s App Store, and is currently developing a platform for agents that will allow them to automatically share listings with clients in their database.
- PROPIC
Propic, a company based in Sydney, offers a comprehensive software solution for real estate agents that combines multiple functionalities into a single license. Utilizing the power of AI, Propic provides agents with a valuable advantage in predicting customer needs and efficiently delivering the services required to address them. These services include booking repairs, rent collection, automated follow-up on inquiries, and the ability to refer users to third parties if necessary. Moreover, Propic offers a user-friendly platform that enables clients to interact with agents in real-time from anywhere in the world, 24 hours a day, 7 days a week.
WANT MORE AI?
Despite the fact that the applications for AI in real estate are evolving at an incredibly rapid rate, these businesses showcase the fact that the technology is most definitely here and can be harnessed to make the job of agents much simpler while achieving a greater rate of success. Meanwhile, from a consumer perspective, it makes finding the right property straight forward and considerably faster compared to traditional means.If you would like to learn more about AI and how it is being used to make life easier for agents and consumers alike, you can read our article How Artificial Intelligence (AI) is impacting the real estate industry.
