Have you ever wondered how real estate agents connect with home sellers? Lead generation is a big part of the business. Agents rely on a variety of techniques, including networking in order to get word-of-mouth referrals. But as with many fields, technology is changing the way that real estate agents do business. Real estate technology company Set Schedule uses artificial intelligence and machine learning to generate leads.
How Set Schedule Reviews the Market
Artificial intelligence and machine learning are well-suited to market analytics, and are already widely used in investing and trading. It’s only natural that there would also be applications for this technology in the world of real estate. Set Schedule reviews a variety of metrics, looking at historic market data, current housing prices, neighbourhood demographics, and the sales history of specific houses to determine which homes are most likely to go on the market, and a potential price level.
Market analysis can be an incredibly time-consuming task if a real estate agent wants to do it themselves. They have to find all of the data, collect it, and spend hours reviewing to get a picture of a neighbourhood’s past and future. But when Set Schedule reviews the data, it does so in an instant. Agents don’t have to spend hours and days on research; the algorithm knows how to find the data, how to access it, and how to understand it.
The benefit of using machine learning is that the algorithm can improve over time, learning based on which leads agents purchase and find success with, in order to offer better recommendations in the future.
Will Artificial Intelligence Replace Real Estate Agents?
There are avoid concerns in many industries about the impact of artificial intelligence and how it enables automation. More and more, jobs that previously required a human worker are being made redundant by advanced technology. Does the real estate industry have to worry about this?
Lead generation is only one part of real estate, of course. An artificial intelligence can generate leads. It can even provide a certain amount of customer support for homeowners and potential buyers, via a chat bot on the agency’s website or Facebook page. However, a lot of selling a home comes down a human connection. People often rely on a real estate agent to serve as a sort of interpreter, helping them see the real potential of the home they’re viewing. For first time home buyers especially, the home shopping and buying experience can be overwhelming and confusing at first. Having an experienced professional there who can provide reassurance and an emotional connection can soothe these feelings far better than any AI.
A time may come when AI real estate agents can take over a certain amount of transactions, especially those for retail spaces and investment properties, where the buyers have more experience with the market and are focused more on business suitability and earning potential, rather than which bedroom would best serve as a nursery for a growing family. Set Schedule reviews the market data, but only a human being knows how to make a house a home.