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How can Artificial Intelligence change the world of real estate?

How can Artificial Intelligence change the world of real estate?

Although Artificial Intelligence (AI) has been around for a decade, it has been in the spotlight and garnering public attention in recent months. Take the simple example of AI ChatGPT, which had the fastest user growth of all time: millions of people were using the site in just 2 months (a feat that TikTok had accomplished in 9 months).

But how could this cutting-edge practice help the real estate world evolve? 

AI affects many sectors and real estate is strongly concerned by this evolution and could have an impact for the different parties of real estate (sellers, buyers, real estate professionals)

The first issue is the optimization of the distribution of real estate ads. The real estate industry receives a lot of data. This data must be processed in a logic of relevance of information and optimization of data. Artificial intelligence will therefore offer a lever to enhance the value of ads with more relevant data than those used today. Consequently, real estate professionals will be able to use this data via their transaction software or real estate portals. Indeed, it will define the most relevant data for the Internet users and put them forward in the presentations of the properties. The ads will then be more efficient.

A new type of visit will be the virtual visits, entirely created by an AI from the various photos taken during a visit. The AI will be able to reproduce the missing places, fill the gaps, associate the two parts of a room in order to make a video that allows to reform a property in its entirety. 

Always with the aim of saving you time, AI is also intelligent messaging that will allow you to respond instantly to customer requests in a precise manner; the automatic drafting of the real estate advertisement corresponding to the property you have added in your software; chatbots that allow you to process contacts with prospects and customers, a virtual assistant that analyzes your mailbox and manages your schedule, and finally, the real-time analysis of the supporting documents of a rental file and the creation of a certificate of validity. 

The real estate industry offers many opportunities to use AI to help the various actors to operate more efficiently. Indeed, the potential of AI is driving technological innovation in the field. Several tools are already here and more are to be developed to help the real estate market evolve.