AT GROUND LEVEL
“ Traditionally , property valuation involved manual comparisons of equivalent properties in the vicinity , a time-consuming process prone to human error . However , AI algorithms can now analyse vast datasets , including property characteristics , historical sales data , market trends and even neighbourhood dynamics , to provide more accurate and timely valuations .
“ Moreover , AI-powered predictive analytics can forecast future property trends , helping agents anticipate market fluctuations and make informed decisions . By harnessing Machine Learning algorithms , estate agents can identify emerging
As AI continues to evolve and become more sophisticated , estate agents who embrace these technologies will gain a competitive edge , driving greater productivity , profitability and customer satisfaction . investment opportunities , mitigate risks and optimise pricing strategies to maximise returns for their clients ,” said Goosen .
He says another area where AI is making waves in the real estate industry is through virtual assistants and chatbots . These AI-powered tools can handle routine inquiries , schedule appointments , and provide valuable information to clients round-the-clock , enhancing customer service and engagement . “ Virtual assistants equipped with natural language processing ( NLP ) capabilities can understand and respond to client ’ s queries in real-time , offering personalised recommendations and guidance throughout the property buying or selling process . Moreover , chatbots integrated into estate agents ’ websites or social media platforms can capture leads , qualify prospects and initiate conversations , freeing up agents ’ time to focus on high-value tasks ,” said Goosen .
Goosen said in addition to aiding in property transactions , AI is also revolutionising property management practices . “ AI-driven predictive analytics can analyse historical data , maintenance records and tenant behaviour to forecast maintenance needs , optimise rental pricing and
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