AI is one of those things that can stir up questions and emotions whenever it is discussed, especially when it is being rolled out into your industry. Last week I was a guest at a conference in India. The conference was showcasing the growing relationship between Indian people and Australia while also highlighting the significant role AI will play over the next few years.
So when presented with the future role of AI in real estate I sat up and took notice. Now, whether it was to placate the audience or genuine fact, the feedback was that AI wont replace the human part of the role, but it will replace some humans. People who are doing repetitive and simple tasks will find AI move into their space. They also noted, specifically for real estate, the customer expertise was about to get supercharged. Web browsers like realestate.com.au were beginning to serve buyers properties assessing things like aspect, proximity to places they like or any other intricacy it noted as a common thread in their searching behaviour.
This new technology will also note if your online behaviour starts to match that of someone who is looking to purchase and will begin to serve you finance and property options, even if you don’t think you’re looking yet. It’s a spooky world! My takeaways were that the customer experience for all of us is about to become a lot more automated and personal. That agents will need to ensure they are using this technology to enhance their offering to clients and that AI will transition from creepy to convenient.
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Over the last couple of months, much of our industry’s public discussion has focused on the movement of the market. The budget appeared to be the ‘tipping point’ after a number of pressures had been building on the buyer’s ledger. First came the cost of living and higher interest rates. Then events overseas pushed up … […]