News & Media
NEW YORK — Artificial intelligence (AI) is making inroads into the real estate market, and professionals are examining how AI tools can improve customer interactions and market predictions, as well as property valuations and searches.
According to a 2024 New Delta Media Survey, 75% of leading U.S. real estate brokerages have already adopted AI technologies and integrated them into their work. AI has helped to automate and refine lead qualification by analyzing complex user behaviors and demographic data to determine which leads are likely to lead to closings.
Predictive AI has been used to analyze market trends and patterns to help investors make better decisions regarding property purchases and sales, while landlords are looking to AI to predict maintenance and resource allocation needs for rental properties to reduce tenant dissatisfaction and financial strain.
In terms of property valuation, AI models can use a range of data from market trends and economic factors to property characteristics to provide more accurate and reliable property assessments. Real-estate firms that have adopted AI tools have also experienced greater efficiencies, reduced costs, and improvements in customer service capabilities.
Source: Forbes (10/30/24) Kasyanau, Andrei
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