AI and its impact on Real Estate
Artificial Intelligence is making its mark on the mainstream and it is going to spare no one, not even the real estate sector. According to reports, AI is going to be the next big thing bringing in a lot of revolution to properties in Bangalore and other metro cities in the coming years.
Although the real estate industry is considered to be the second largest sector in India, it is still lagging back in many ways. But with AI coming into the picture, the industry is all set for a major transformation in the years to come.
Let’s get into some details:
1. Better Property Search
Ever since hunting for homes has gone online, people have become very choosy had have been setting new and various criteria while searching for their dream home. Price, location, square feet, amenities etc, to name a few. This entire process can be a lot overwhelming considering the number of options that these filters may give.
With AI this process will further narrow down as it will analyze the pattern of a person’s search and create an accurate picture of their preferences and what they want.
2. Property Tours Without Agents
The coming of AI, is also challenging the entire concept of agents which might soon be gone into thin air and property buyers will be free to take a tour of a property whenever they want. The AI-powered robots will soon become the new property agent who will show the properties to clients anytime and also answer any questions.
3. Improving Efficiency
The entire concept of Artificial Intelligence is all ready to streamline the property building process. At present, the builders are investing a lot of money in resources to get the work done. When it comes to AI a lot of efficiencies will increase as it will be able to predict needs and wants of the clients which on the other hand will help the builders to serve them better.
4. Predict Market Values
AI technology will be helpful in predicting the future value of any property combining CRM and market data. AI is working on a process which in the future will predict the future market trends, rent and all other related information.
With AI, the future of the real estate sector is bright and will significantly affect the entire process of buying and selling properties.