If there’s a subject that has more of a buzz to it in the world of technology than AI does, we’d like to hear of it. Everyone will know of the incredible disruption that’s underway because of Chat GPT and the like, and it’s already starting to reach into many different professional and industrial pathways and changing how people work and do business. It’s also helping people make better and more informed decisions with regard to where they put their money, and as we all know buying a home is one of the most pivotal decisions people make in their lives.
And so it is that Artificial Intelligence is being utilized by prospective homebuyers in Canada, and it is one application for it that like many others is likely set to become more commonplace in the future. There is already a story here in BC about a realtor who has built a platform to incorporate AI into his real estate services, and you can be sure that the big brokerages in Canada are making efforts to stay on the curve with this too. There’s a ‘shake up’ underway, and the only thing that remains to be seen is just how much shaking is going to be done.
One thing a realtor should always do in the interest of serving and retaining clients is to be as entirely in the know as possible when it comes to the industry. So it makes sense that an agent should be in the know about these disruptive technologies can be utilized to help clients who are looking to buy or sell a home. A knowledgeable realtor is a busy realtor, and every one of them will want to have fully satisfied clients that will return to them in the future if further sales / purchases are a possibility. Our online real estate lead generation system here at Real Estate Leads is an excellent choice for new realtors.
This weeks’ entry is going to look at AI in real estate, so let’s get to it.
Smarter Listings / Smarter Staging
Real estate companies are now using generative AI to create descriptions for listings to meet their clients’ needs and using it to stage images of an empty home. And AI is proving that it can definitely help those who are searching for their dream home. Two of the newer tools that have come out recently for doing just this are TopHouse and HomeSearchAI. They allow homebuyers to search listings with the exact specifications they might want, using normal language to sort the listings instead of using filters as they have with conventional resources to this point.
It is quite impressive with them how you can just type exactly what you want and it’ll understand what you need, and give you results based on your unique needs. You can have a product that understands a person’s unique need and removes a lot of the until-now inherent complexity in weighing potential homes against each other in the process of making a purchasing decisions.
It’s wonderfully simple – you just type in what you need, and it will give you results. Using AI allows the platforms to incorporate data previously inaccessible in a single platform for home searches. Examples could be the direction the home is facing, or simply typing in 2BR to have two-bedroom units evaluated exclusively.
Less Restrictive Searches
Until now individuals were restricted by the maps-and-filter page user experience when searching for prospective homes themselves. Specifying the need for a four bedroom, detached with three-car garage or a 2-bedroom condo open concept facing north wasn’t realistic with the technology available to consumers until now, but with AI these types of direct spoken or text-entered search terms are answered with much more intuitive responses based on the ability of the artificial intelligence to better understand the requests.
In the future we will likely see these platforms adding more AI features like traffic data or school rankings so homebuyers can look for homes near quality schools, or within a reasonable commute from their workplace. There are all sorts of other possibilities too, and ideally we’ll see AI-driven real estate buyer / seller platforms featuring AI-enhanced home searching that is better tailored to those who are reasonably far down their search and know exactly the type of property they want.
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