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AI + RE: the revolution of traditional

February 22, 2019

By: Uriel Fernández  | Business Development

Previously, we had the opportunity to share with you an interesting article that talked about the investment in Artificial Intelligence destined by specific commercial and industrial sectors in the global market. While the reality today is that many companies are migrating their services or processes to the digital world, it is also very clear that there is still a long way to go in terms of implementing Big Data or any other type of technology.

In the particular case of Real Estate, companies we might think that Artificial Intelligence could be a factor to replace many on field functions , but (for now) that is not a reality and, on the contrary, this technology turns out to be more functional when we work together with a human being, so we must not forget that personal contact will always win clients over.

But then, what can artificial intelligence do for the Real Estate industry? First, to ensure the complete satisfaction of the clients, we must know and capture in a database their information, in addition to defining their interests, to then build a more effective marketing strategy and, together with the IA, send messages and images that are attractive to those potential customers, based on all existing property information. Currently, there are companies dedicated to the management of prospects, which in addition to helping prospecting more quickly and directly, implies an ROI of approximately 2.65%.

Another aspect to consider is the chatbots that are increasingly useful when tracking a client's request, based on frequently asked questions, which are fed from a database. Currently, 66% of people prefer to contact companies through services such as Facebook Messenger. On the other hand, a chatbot can speed up the qualification of prospects and save resources.

In addition to that, artificial intelligence can help real estate companies connect with potential investors and boost the profits of sellers and buyers, helping to establish agreements throughout the latter, in addition to monitoring risks or predicting possible loan defaults. There are companies in the United States that have managed to raise about $ 320 million through the purchase and sale of single-family homes, in addition to identifying investment opportunities to establish the best price.

Thanks to the AI, the Real Estate companies, specially developers, will be able to not only sell and buy properties, but they will also be able to forecast and manage disasters during the strategic planning of space, to avoid setbacks and therefore millionaire expenses due to disasters or damages.

As we can see, artificial intelligence can do much more than we think, it can even help us to carry the agenda for our appointments with clients or to schedule messages to improve the attention with our clients. In particular, taking this step towards new technologies implies for many companies a way not only to optimize their processes but also to make more accurate use of monetary resources, in terms of promotion and purchase-sale.

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