Artificial intelligence is a huge trove of untapped potential. From face recognition to chatbots to music and movie recommendations, AI is making our lives easier and changing the way we do business. Alexa, Google Assistant and Siri all employ AI to help us manage our day-to-day tasks more efficiently.

With the proliferation of AI across industries, more and more people are looking to artificial technology to streamline basic tasks and automate where possible. The real estate industry is no different.

Everyone needs housing. As home prices continue to rise, more and more people (especially those between 18-34) are looking to rent. As Millennials and future generations come of age, it only makes sense to use technology they are already comfortable with — artificial intelligence technology. AI can help streamline the apartment hunting prospects for potential buyers while also helping leasing agents save precious time and valuable resources. The result: more relevant leads, faster home searches, and more satisfied customers.

 

AI helps you prequalify potential candidates.

Artificial intelligence can help you take some of the guesswork out of lead generation. With data-driven digital ad campaigns, you get your apartment units in front of interested renters. AI can track valuable information like impressions and conversions so you can better manage your marketing strategy.

What’s more, when apartment hunters go to your website, they can engage with chatbots that ask questions about income and common background requirements to more effectively screen and prequalify potential clients. Automating these processes is easy and highly effective.

With the proliferation of real estate sites, it’s easier than ever to browse the market and see what’s available. AI helps leasing agents understand which leads to pursue and which leads will likely result in dead ends. It used to be that leads were collected by creating dedicated landing pages, investing in static social media ads and creating SEO content that tried to engage potential lessees to leave contact information. Artificial intelligence is changing all that.

Chatbots can now ask visitors qualifying questions, learn more about serious leads through data appends (either through CRMs or social channels), and help more effectively identify serious clients. AI is already used across hundreds of industries from retail to health care, it only makes sense for multifamily sector to take advantage of this technology.

 

AI saves you time and money.

Artificial intelligence helps your company save time and money by automating more mundane, but necessary tasks. Instead of having staff on call to answer basic and frequently asked questions, AI can handle these requests instead. Chatbots can be used to check apartment unit availability and schedule tours.

All too often, potential clients ask questions that are clearly stated in the apartment listing, but often overlooked. AI can answer all too frequent questions about pricing, floor plans, amenities, pet policies, utilities, laundry, flooring, storage and more. AI can even show prospective clients pictures of unit layouts, and multifamily amenities. This leaves your agent more time to dedicate to more important tasks like building relationships and getting more keys in more hands.

By employing the latest AI technology, you create dedicated customer service support that’s available 24/7. Your agents no longer have to be tied to their phones all hours of the day while clients still get remarkable attention. AI is a cost-effective solution to ensuring that searching and inquiring about your properties is always available to interested families.

 

AI is getting smarter and smarter.

Not all AI is the same. Some technologies are more advanced than others and can offer greater customization and personalization. However, even the most basic technology is improving all the time. Even from just a few years ago, where a robotic voice might call or an awkward text exchange would ensue, now many people don’t even realize they are talking to a computer and not a real person. As the use of AI in real estate continues to grow, the technology will continue to listen, learn and advance.

AI lets apartment hunters take control of conversation, ask questions and understand how your availability matches there needs. This leads your agents available to engage serious clients with more personal and timely responses.

 

But don’t underestimate the power of the human touch.

While AI can be a game changer for your real estate business, human interaction is still a vital component of any home search. Real estate agents have market insights, localized expertise and the unique ability to help customers feel comfortable and confident. Technology cannot replace the value of real people closing real deal.

The real power of technology is allowing your agents to be more effective and more useful both to their clients and your business. The best use of AI is helping to facilitate a faster, more seamless and more enjoyable home search experience. Let smart AI help lead your real estate business into the future.