The real estate world is increasingly technological: did you know that artificial intelligence is used to sell a house?

To date there are already many AI applications that are used in the real estate sector. This does not mean that the human component will be lost, but rather that real estate agents will be able to work faster, with less margin for error and in a more targeted way.

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What is meant by artificial intelligence? It is a system of calculation and reasoning that imitates the human one and then surpasses it in terms of speed and complexity. The algorithms allow to process a huge amount of data in real time. These data are collected, processed and applied, in this case, to the real estate sale.

Thanks to the ability to collect, classify and evaluate large volumes of data, artificial intelligence (AI) allows you to automate complex stages of the sales process. At the same time, artificial intelligence software is able to profile potential customers based on their research and online activity. This allows the creation of detailed customer sheets, which allow you to directly propose properties in line with that customer’s characteristics and preferences.

AI will increasingly be a fundamental support for real estate agents, who can conclude a deal faster and dedicate themselves to the assistance phase. All this has as its final goal the satisfaction of the customer, who also has the possibility of interfacing with some artificial intelligence software in the first person to better enjoy every phase of the sale.

A real revolution, which began a few years ago in the United States and has now also arrived in Italy. Let’s see how the client gets in touch with artificial intelligence and what are the most interesting applications already available for real estate agents.

 

The use of artificial intelligence to sell a house in Italy – Customer side

There are many artificial intelligence applications that we can already find online on the websites of real estate agencies. Here are some of the AI ​​applications we use most often, on the customer side, when looking for a home:

  • 3D floor plans: they allow the user to work as an architect, having the possibility to see in advance how to furnish or renovate the house starting from the floor plan.
  • Virtual tours of the properties: the customer has the opportunity to visit a property at 360 ° in a few minutes, viewing every room from the comfort of a computer or mobile phone. According to many real estate agents, the use of virtual reality to manage real estate visits could reduce sales times by about 20% to 30%.
  • Chabot: software capable of having conversations in real time with users who interact with them through Messenger. They are used by real estate agencies, and not only, to automatically provide information to customers. The Chabot can also be used to show users the apartments for sale, customizing the showcase based on the needs expressed.

Surely you have come across these applications in the past few years! Know that, already in the near future, AI applications will be increasingly advanced and will become part of common practices in the real estate sector, even in Italy. Let’s see now, on the real estate agent side, some interesting examples of artificial intelligence to sell a house.

 

Artificial intelligence applications to sell houses – Agent side

V he assessment of the propensity to buy and sell

A very useful tool is for example the possibility of predicting what are the chances of a potential customer becoming a real customer. How?

By analyzing the historical data on the potential customer’s income, AI allows to evaluate the actual economic capacity of visitors in order to discard those who have no real possibility of purchasing. These data also make it possible to assess creditworthiness and automate the commercial mortgage underwriting process. 

On the seller’s side, the machine learning algorithm can evaluate the probability that the sale will take place by analyzing the seller’s income, the events in his life that may affect the sale, his behavior, etc. … up to predicting whether people in an agent’s contact database will sell homes within a year. 

To do this, the AI ​​constantly monitor neighborhoods and properties to obtain data on dozens of variables on which to make sales forecasts, such as:

  • How often homes are sold in a region,
  • What was the last selling price of the house,
  • How much has the value in the house changed over time….

Data acquisition for marketing purposes

The huge volume of data collected by AI on consumers can be reused to drive lead generation and marketing activities. For example, the real-time data analysis makes the consumer’s preferences, expressly selected by the user but also deductible from his online activity, known, and allows to send targeted proposals.

Automatic collection and compilation of documents

Artificial intelligence can be used to automate the compilation of customer management reports in terms of CRM. Furthermore, through NLP (Natural Language Processing) documents can be scanned to identify any inaccuracies and inconsistencies, reducing the risk of human error in manual data entry.

Evaluation of the risks and potential of an investment

AI simplifies risk and loan variation analyzes, allowing you to more readily assess the potential of an investment.

Predictive analysis of the real estate market

There are many factors that fall into the estimation of the value of a property: it is necessary to refer to the data in the public registers, to the indexes of the IMO (Real Estate Market Observatory), to the presence of adequate school services and transport, to the crime rate, the existence of green areas, pollution …

This is an amount of data unthinkable for the human mind but easily processed by algorithms. With the help of artificial intelligence, this huge amount of data provides not only a current estimate of a given market, but also a predictive analysis on it.

Property maintenance forecasts

Through the use of AI software, real estate companies can easily keep track of maintenance activities on properties for sale or for rent in their portfolio. In this way it is possible to identify the most common maintenance problems and fluctuations in the prices of interventions by area / season.

Mortgage fraud detection and prediction

Machine learning models can also help identify and anticipate those situations in which documents to obtain funding are falsified. This way you can avoid mortgage fraud.

Source:https://propertynews.pk/

Source: https://businessworld.com.pk