Ways a Real Estate Professional Can Utilize AI

With millions of licensed real estate professionals in the United States alone, you need to set your organization apart. A key way to differentiate yourself is to use new and emerging technology. Generative AI (Gen AI), an advanced form of traditional artificial intelligence, reads and uses intricate patterns to generate new and cohesive data sets. Learn how your organization can leverage AI tools to improve predictive analysis, enhance customer support, and help create ‘smart’ buildings.   

Understanding AI Trends in Real Estate   

The real estate industry is intrinsically subject to economic cycles, demographic trends, and supply and demand fluctuations. While it can be difficult to accurately predict future trends, organizations can use Gen AI to analyze past patterns and create future hypotheses, gaining specific insights into real estate developments in the marketplace. Gen AI may enhance productivity as it mitigates human error and pulls near-real-time information from the internet, allowing professionals to access written and visual information. 

Professionals who effectively utilize AI systems such as generative AI in everyday practice can expect to make more sound investments, development decisions and plans, and pricing strategies.   

Enhanced Customer Support with Gen AI 

In the digital age, corporations in all industries are adopting a greater virtual presence. Gen AI-powered chatbots are being used to answer initial questions and funnel questioners to their answers. With an industry as dynamic as real estate, confusion and questions can leave an impending deal in the rearview mirror. However, providing effective answers, or at least guidance, can help leverage your company for success.  

Organizations can utilize Gen AI in a variety of ways. From reimagining customer journeys to creating personalized communication, you can streamline monotonous processes and better enhance communication internally and externally.  

Smart Buildings   

As society and organizations emphasize sustainability, developments can use AI systems to enhance smart building assets, offering an environmentally friendly yet fiscally responsible strategy for success.   

Smart buildings use a wholly automated intelligence system through the Internet of Things (IoT) network to amplify system and work productivity and operability.   

Smart buildings can offer the following:

• Connectivity and analytics on building systems
• Remote management and the ability to control several factors, including heating and lighting   
• Connectivity to smart grids: energy networks that use technology to promote more sustainable and efficient energy usage.   
• Sensors to monitor factors such as indoor air quality and energy consumption  

Smart buildings have multiple benefits, including lower operational and energy costs and better monitoring of output and behaviors across many areas. Smart buildings also have sustainable features and technologies to help reduce energy consumption and emissions, while having systems in place to conserve water and minimize harmful environmental impacts. Although smart buildings have careful considerations to navigate and can be costly, the capabilities that come with smart buildings should not be overlooked.   

Set up for Success  

Now is the time to differentiate yourself by staying knowledgeable on technology and real estate trends. By utilizing Gen AI capabilities in your practice, you can take necessary steps toward long-term success. Contact EisnerAmper today to learn how you can best leverage Gen AI to support your business and portfolio goals.