5 Ways How AI Helps Real Estate Agents
If you’re like a lot of successful real estate agents, you’re sinking in data. Most of the brokers considering selling today is more difficult than it was ten years ago. And almost 80% of team leaders are working more than 60 hours a week. So it’s not a stretch to say that salespeople have a very stressful job.
Managing data is overwhelming, and there is never enough time. The good news is that current advances in artificial intelligence and machine learning offer solutions that can make managing data much more relaxed, and also increase sales effectiveness.
Here are five ways how AI is being leveraged to help reduce stress for real estate agents and make them more productive:
1. AI increases the relevance of home recommendations
When it comes to real estate, the best way to get the best chance of closing a deal is to provide clients with the home that is perfect for them. Learning more about your clients will still require talented agents who know how to talk to them. Also they need to know how to interpret their likes and don’t likes and to find out exactly what they would love. They’ll also need to be able to transform what they learn into data that an algorithm can understand.
The AI can take over by personalizing every client activity, bringing all marketing interactions together in such a way that it can collect the data and find what will work best at every step. For instance, it can tailor its messaging and the imagery it uses based on what’s worked well for other, similar customers.This will be particularly vital when it comes to searching and browsing websites. If an AI-powered algorithm can help to shortlist perfect properties for each different buyer, you’ll quickly become the go-to agent in your neighborhood and beyond. This is all about finding smart ways to help artificial intelligence to assist you to do what you’re already making – but at a much higher level.
By the way, this is precisely the focus of Propertymate.ai. We even wrote a dedicated post about it before. Long story short, we match buyers and homes, to help agents provide better service for buyers and focus more on personal communication. It works like magic.Don’t believe it? Sign up for a free trial.
2. AI Is now agent’s new virtual assistant
According to NAR, less than 30 percent of brokerages use a CRM. The main reason is that most agents have “tool overload”.
The real question here is: “Why don’t real estate agents like using their CRM?”. The solution is automating the process of logging sales activities (emails, meetings/calendar, etc.) into your CRM. When executed correctly, it can lead to significant reductions in routine and monotonous work, freeing agents to leverage their more creative talents, and emotional intelligence. Not only to deliver better business outcomes but to actually have a more positive outlook about their business. Agents can focus on what they’re good at — selling. Instead of routine admin tasks are more satisfied with their jobs.
Previously, we wrote about why it’s important to use CRM for a real estate developer.
3. Sales activity automation makes marketing happy
We all know that closing doesn’t happen inside your CRM. Sales occur over the phone, in emails, and during showings. This disconnect creates a cumbersome and often neglected activity for salespeople to document and log all of their actions back into their CRM. As a matter of fact, 9.1% of reps’ time is spent in spreadsheets as they try to manage CRM-related tasks more effectively.While this can be a great environment for the “lone wolf” salesperson, it can make it difficult for marketers who need to create an attribution and measurement strategy to show ROI or their effort’s impact on pipeline and revenue.
When an agent doesn’t keep the CRM up-to-date, marketing gets frustrated, and there can be a misallocation of shots from the marketing department. So, how are marketers able to account for attribution if sales isn’t logging their activities?AI can do it for you.
4. Higher client satisfaction
Client journey mapping and programmatic marketing based on buyer behavior and sales activity are not only a nice to have. But it’s quickly becoming required. If you’ve ever interacted with a company online as well as over the phone, you’re one of these customers. Buyers expect agents to know who they are, and where they are in the buying process. And they don’t want to have to repeat themselves or even wait for service. With the power of AI, real estate agents are now able to sort and process tasks and queries to provide timely and effective service to their clients at scale. AI significantly reduces uncertainty and enables agents to be faster and more successful in resolving customer issues.
5. AI helps real estate agents to sell better
Another of the benefits of Artificial Intelligence is that it works 24/7. That means you can use AI-powered bots to provide all day all night coverage to leads who visit your web page or your social profiles. They can “talk” to clients on your behalf and assist you to sell even when you’re asleep.Chatbots grew in popularity for last few years, and they’re finally at the point at which they can pass the Turing Test. In other words, the best chatbots are now effectively alike real people. And they can be super efficient when it comes to the way how clients interact with realtors.
Anyway, real estate agents will still be needed to compose contracts, answer phones and show people around homes. It’s just that they can use technology to automate most of the routine work. And spend priceless time on more valuable responsibilities.
This is just beginning
Data will only continue to expand and grow. The stress that sales and marketing are under is intense, but AI-powered solutions can relieve that pressure. Technology automates tasks that are essential for the win but get ignored, and provide reliable, accurate data to make better sales decisions on.
Propertymate.ai is aimed to help real estate agents quickly and easily leverage AI to drive better sales process. So they can make their everyday work more comfortable and impactful. Don’t just throw more people at the data problem. Unlock the power of AI to help agents make sense of the data and let them do what they’re best at… Helping people find their homes?