AI is quickly taking over almost every aspect of life and business. Whether it be manufacturing or real estate, AI has proven to be a tool that can not only be used in multiple industries and drastically improve them.
What Are AI Real Estate Agents?
Artificial real estate agents, such as Renty.AI, are AI bots designed to make the house and rental hunting process as quick and painless as possible. The AI can draw from online listings and instantly return results to users, depending on their home requirements. This means that an AI real estate agent is an all-in-one tool that cuts down on search time while still returning a selection of personalized results; this includes checking landlord credibility, amenities, etc.
What Does an AI Real Estate Agent Offer?
While the use of AI in real estate is seemingly endless, it offers customers three main things that can transform your house and apartment hunting experience.
Fast & Improved Searches
When scouring the internet and returning personalized results, nothing does it better than AI. Its ability to go through millions of pages of data and find exactly what you searched for is unmatched, and this is the first benefit it offers customers. Instead of opening link after link and searching through eleven, twelve, or thirteen websites and not finding what you want, ask a question, and AI does it instantly. This is particularly helpful if you are looking for something specific or unique, which can often be the case.
Tailored to Your Wants/Needs
Building on the previous point, AI can adapt to your wants and needs and return the relevant data. As mentioned, wanting something specific or unique in a home can make searching harder if you aren’t looking in the right place.
More often than not, people want much more out of a house or apartment than just having two bedrooms or being pet-friendly. You are extending the search time and potentially limiting results when you add wants such as a laundry room, garage, office, etc. However, the power of AI is in full force in this aspect as well; you can ask it a question, and it can quickly find every listing that fits your needs, cutting down your search time to a few seconds. Furthermore, AI can also be used to find the right landlord for you.
It can find and return information about the property owner, such as their financial track record, how good they are at addressing complaints, etc.
Enhanced Customer Support
AI can also improve your customer support experience. This area is where AI is used a lot across multiple industries, as it allows companies to get customers the relevant information they need in moments. Being able to ask it questions and have results returned to you instantly provides a faster and better service and instant user gratification.
Other Benefits of AI in Real Estate
Beyond the direct-to-customer service and support AI offers, it has other benefits that can help improve the house and rental experience.
Identify Market Trends
As mentioned, AI shines when finding and managing large amounts of data. In real estate, this can be used to identify market trends, which can help potential renters and buyers see when the best time to rent or move is. Predicting and analyzing market trends can also help agents and the real estate market.
Predict Future Trends
While predicting market trends is hugely beneficial, AI can also be used to look even further down the line. For example, the AI can draw data from crime statistics to see if crime in an area is trending up or down; if it is trending down, the site could become more popular, better for families, etc. This is only one statistic that AI can use to show the value of an area down the line, and the combination of all the data available will also give renters or buyers a good idea of where they would want to move in five to ten years.
Faster Application & Approval Times
While the technology still needs to be improved, there is a strong potential for AI to be used to improve and speed up the application and approval process drastically. Considering the amount of paperwork and checks that need to be done before you can rent or buy, this is another step towards making the process better. AI can verify identities, somebody’s financials, references, etc. This means the AI can eventually find and verify all the information instead of the customer or service provider.
As you can see, AI is already being used to transform the real estate and renting market, and as the technology improves, it will only get better and more manageable. AI is making the process of finding the perfect home for you and your family the best it has ever been.