Artificial intelligence (AI) is transforming how properties are listed, marketed, purchased, sold, and invested in. This technology can be used to optimize marketing strategies, streamline property management, improve lead generation, and more. Explore the many benefits of using AI for real estate, as well as the most innovative uses and the best real estate AI companies you can leverage to help you grow your business.
What Is Artificial Intelligence (AI) & How Does It Work?
AI tools are complex computer systems that simulate human intellect. These are essential tools for real estate, particularly when identifying trends, analyzing consumer behavior, and generating data and insights. Using AI for real estate also helps agents predict property market values and make sound decisions without human intervention.
AI-generated video content and targeted email marketing campaigns can increase customer engagement. Moreover, using AI video generators, real estate marketers can create high-quality video content efficiently and boost click-through rates. This automation saves time and resources and significantly elevates the client experience in the real estate sector.
Benefits & Challenges of Using AI Tools in Real Estate
Utilizing AI in the real estate industry has several benefits and challenges for agents, such as enhancing and optimizing your video marketing efforts and customer experience. AI real estate technologies can already be incredibly valuable if you know how to use them.
All things considered, agents may now efficiently manage their tasks more quickly than before thanks to AI-driven solutions. However, when using AI tools for their businesses, real estate professionals must exercise caution and diligence to avoid breaking laws and cybercrimes.
Check out the table below to better grasp AI benefits and challenges.
|Summarize critical information (e.g., homeowner demographics, technology use, and real estate employment stats) and analyze competitors and future market trends.
|AI tools require high-level skills or a specialist to operate.
|Improve your marketing efforts and provide personalized property recommendations to users.
|AI introduces a high risk from hacking or cybercrime.
|Boost your customer support through AI chatbots.
|AI tools and technologies are expensive.
|Gather insightful information from online reviews and customer feedback.
|AI needs lots of data. Having limited or not diverse data sets may cause problems, like inaccurate results.
Ways to Use AI to Grow Your Real Estate Business
AI is already widely used by real estate entities in their day-to-day operations. If you’re ready to embrace this technological advancement and learn how to use AI for real estate business, keep reading to find out about some of the ways you can use AI for real estate growth:
1. Enhance & Optimize Real Estate Marketing Strategy
AI can give real estate professionals insightful information, such as current housing market conditions, home prices, and the value of similar properties. AI also enhances client interaction and experience and helps businesses improve and optimize their marketing initiatives and selling properties.
Here are some ways how to use AI for real estate marketing strategy optimization:
- Automate lead generation: AI systems can assist lead generation by automating lead scoring and nurturing. Chatbots with AI capabilities, for instance, communicate with prospective clients and respond to their inquiries while gathering information about their preferences and behaviors. Chatbots can also work 24/7, ensuring prospects receive the information they need and want.
- Personalize content creation: Real estate agents can create content tailored to every client’s individual interests and preferences by utilizing AI capabilities. This can include customized emails, blogs, social media posts, and real estate listings that are more likely to draw in visitors and convert successfully.
- Provide augmented and virtual reality: Real estate AI software, like Matterport and Kuula, can help real estate agents create high-quality property 3D and virtual tours, allowing agents to virtually show potential clients around the house they’re interested in. Also, clients can examine and evaluate every area in detail and make a well-informed purchasing decision.
- Streamline social media marketing: Agents can keep a consistent social media presence while saving time and resources using AI tools. There are several AI solutions available on the market for creating content. Tools like SocialBee’s AI post generator will assist agents in crafting engaging posts with relevant hashtags, detailed captions, and emojis.
- Create compelling listing descriptions: With the help of AI property description generators, like ChatGPT and HomeScribe.AI, agents can have clear property descriptions that showcase the property’s unique features and benefits, attracting potential buyers or tenants. AI property description generator also caters to various property types, sizes, and locations, providing tailored property descriptions that resonate with your target audience.
2. Analyze & Predict the Real Estate Market
Another use of AI in real estate is accurately analyzing properties and the real estate market. Al-powered software, like those featured in SmartZip, Realtor.com, and StreetEasy, can provide property information in seconds, including crime records, transportation, local school statistics, and environmental risks. AI algorithms are also used to predict current and future property value, allowing agents to determine appropriate selling price and sales approach.
3. Streamline Property Management
Many property management tasks can be quickly automated through AI integration—from tracking property listings to maintenance requests and renter applications. Artificial intelligence in real estate has seen recent advancements with the introduction of Al-derived property management systems.
Property owners, investors, brokers, and tenants are becoming interested in features like automated HVAC operations and energy savings. Verdigris, and Pointgrab are some of the new AI technologies in the real estate sector. These software are used for sustainable energy savings, building operating efficiencies, and promoting tenant comfort.
4. Boost Security With Smart Home Devices
Proptech, or property technology, is a rapidly expanding real estate market sector. It focuses on tools that enable homeowners and landlords to monitor properties remotely. These consist of cameras, doorbells, locks, thermostats, and other smart home appliances that assist in alerting users to potential issues within the building.
AI helps devices recognize user preferences and modify settings as necessary. AI-based tools can assist the landlord in staying updated and prevent expensive repairs, as well as save money on utilities and increase tenant happiness.
5. Improve Lead Generation
Using AI for real estate for lead generation allows you to focus on capturing high-potential clients. AI-based lead generation platforms like Market Leader and Zillow Premier Agent use AI algorithms to identify and target potential clients. Also, by analyzing online behavior and demographics, prospective homebuyers or homesellers can become viable real estate leads.
Real estate farming is another way to use AI to generate leads. AI assists agents in locating high-quality leads in their desired farming area and automates marketing campaigns—from online advertisements and email marketing to postcards and handwritten letters, allowing your brand to be in front of top prospects.
For more AI-driven lead generation company options, read our 8 Best Real Estate Lead Generation Companies article.
Best Real Estate AI Tools & Technologies
AI marketing tools for real estate provide a few options—from AI-powered tools for 3D virtual home tours, home staging, and content marketing automation to AI-powered chatbots, predictive analytics, and customer relationship management (CRM). The following are the best AI for real estate agents:
Real-time lead insights dashboard
Those needing a CRM for real estate farming
Predictive algorithms and data analytics
Schematic floor plans and measurement mode
Monthly Starting Price
Free to use
$109 per user
Free to use; paid plans start at $9.99 per month
(if billed annually)
For more comprehensive information on AI tools for real estate agents, read our 6 Best Real Estate Predictive Analytics & AI Software, 5 Best Virtual Tour Software, and 8 Best Real Estate Software for Agents (+ Alternatives) articles.
Tips & Tricks for Using AI Tools in Real Estate
Now that you are aware of the various ways how to use AI for real estate, as well as its benefits and challenges, let’s look at some professional tips and tricks to help you use any tool like a pro:
- Include your preferred tone of voice: Since AI lacks a voice of its own, customize the sound of your content by incorporating your preferred tone of voice. It could be persuasive, friendly, informational, formal, informal, or bold. For instance, instruct AI to produce a brief hook that grabs the attention of potential prospects by using a persuasive or bold yet friendly tone.
- Make your request specific and detailed: Provide as much information as you can in the description. Regardless of the content you aim to create, be clear about what you need and want.
- Tell AI to impersonate your ideal specialist or personality: As artificial intelligence lacks human characteristics, you must ask it to mimic the expertise you seek to utilize AI in real estate fully and your specific niche. You can instruct AI to “act like a realtor” or “act like a real estate agent with 20 years of experience,” for instance.
Frequently Asked Questions (FAQs)
The amount of money needed to integrate AI in a real estate company might vary significantly based on the tools and software used, the company’s size, and the degree of integration needed with current systems and processes. Generally, it ranges from $40 to over $200 per user, paid monthly.
No, AI will not likely take the role of real estate professionals in the near future. However, AI will likely continue to play a significant role in the sector, assisting agents in their work and boosting the clientele’s experience in general.
Using AI for real estate helps agents by automating tasks like copywriting, property description generation, content optimization, and virtual interior design. It can increase productivity, save agents time, and improve the client experience.
Adopting real estate AI is crucial for growth and success in the quick-paced real estate industry. Property owners, investors, dealers, and clients benefit from AI algorithms’ advanced decision-making abilities. In the digitized real estate era, nothing is impossible, from virtual property viewings to automated transactions. After learning how to use AI for real estate, be sure to apply it to your business to gain a competitive edge and reduce property management expenses.