![]() Google Ads utilizes machine learning algorithms to analyze user data and optimize ads for better performance. Afterall, when we run an ad campaign or try to rank on Google search, we aren’t the ones using AI - Google is!Īnd that’s true. So let’s look at some uses of AI in real estate, both obvious and not-so-obvious… Google Ads and Organic Search This sphere of real estate has long been a hybrid of cutting edge technologies and good old fashioned communication. On the one hand, a large portion of homebuyers today start by searching for homes online, but on the other, people tend to use agents recommended by friends and family when selling their homes.Īgents constantly have to improve along multiple fronts, managing their online presence, working with increasingly sophisticated forms of media, all while honing their interpersonal skills and maintaining a variety of professional relationships. As such, any shortcuts or time-saving measures are usually met with some enthusiasm, and many have been jumping aboard the AI train for some time. Next we’re going to take a look at how AI has been impacting real estate from the perspective of real estate agents, teams, and brokerages. Industry giant Zillow had it's own program, "Zillow Offers", which shut down in 2021. The big names here are already quite well known: Opendoor, RedfinNow, and Offerpad. Then there are the iBuyers, companies or platforms that use data and AI to make predictions of specific real estate markets and then make attractive offers directly to homeowners on off-market properties. Companies in this space include: Verdigris, BuildingIQ, and Pointgrab. Real estate may refer to the work that real estate agents and brokerages do to help buyers and sellers navigate the process of buying or selling a property, including marketing, negotiation, and paperwork.ĪI is also increasingly being used to directly manage properties, optimizing things like security, space and energy usage.Real estate may refer to property investment and management, including activities such as purchasing, developing, and leasing property.Which parts are those? Well, we can divide real estate into two broad but related categories of activity: As if you don't know what real estate is! But again, it's important to be clear here, because AI has had some very different implementations and impacts in different parts of the real estate world. Now you might think we're being really pedantic. Real estate is a field or industry that encompasses a wide range of activities related to physical land, buildings, and structures, as well as the legal rights and interests associated with them. ![]() Instead, it is whether the task is one that typically requires human intelligence, even if the AI does it in a very non-human-like way.ĭoes that all sound a bit vague? It is! But that’s because there are still ongoing disagreements about what exactly is or isn’t AI.īecause in order to appreciate the many ways that AI is already shaping our lives, we first need to broaden our frame of reference, seeing beyond the examples that are just making today's headlines. In short, the complexity of an algorithm does not determine whether something counts as AI or not. ![]() While some people associate AI with complex systems like self-driving cars, facial recognition, or even technologies from science-fiction, the term can also include simpler algorithms performing much more basic tasks, either by themselves or in concert with others. The term “artificial intelligence”, or AI, usually refers to computer programs that perform tasks associated with human intelligence, such as perception, learning, problem-solving, and decision-making. In this post, we will explore some of the ways that AI has been used in real estate and take a closer look at how those uses have impacted, and continue to impact, the industry.īut first, let’s be clear about our terms… What Is Artificial Intelligence? ![]() On February 24th, 2023 AI Applications In Real Estate How AI Has Been Shaping Real Estate For YearsĪrtificial Intelligence is increasingly shaping many aspects of our world and the real estate industry is no exception.Īnd while much of the news lately has been on game-changing chatbots like ChatGPT, the truth is that AI has been transforming the way we buy, sell, and manage properties for years.
0 Comments
Leave a Reply. |