AI Can Assist in Locating Your New Home: Here’s How
An Inevitable Change in the Real Estate Sector
The real estate market, like many other industries, is facing a revolution driven by artificial intelligence. This change not only modernizes processes such as property search and contract management, but also allows for more personalized responses to clients, as explained by Eduardo Laens, CEO of Varegos.
Advancements in AI have enabled intelligent systems to analyze data, optimize processes, and personalize experiences. This marks a turning point in how real estate transactions are managed, going beyond simply listing properties on digital platforms.
How Does AI Facilitate Property Buying and Selling?
AI enhances every stage of the real estate process. Some of its notable applications include:
- Personalized Recommendations: Analyzing individual preferences such as location, budget, and style to suggest ideal properties.
- Intuitive Searches: Allowing searches by images or natural language queries, saving time and increasing the chances of finding the perfect property.
- Legal Analysis: Examining contracts and detecting potential risks, streamlining transactions and enhancing security.
- Advanced Chatbots: Providing real-time answers and suggesting options based on the client’s lifestyle.
An example of these technologies is “Zestimate,” a tool on the Zillow platform that estimates property values based on historical data and market trends.
Limits and Challenges of AI in the Sector
Although AI offers great advantages, there are also limitations. According to Laens, emotional interaction remains a barrier. A human agent can empathize and better understand a client’s needs, something machines have yet to replicate.
Furthermore, subjective terms like “cozy home” or “spectacular view” contain nuances that algorithms don’t always interpret correctly. Another challenge is the quality of available data: incomplete or biased information can lead to inaccurate results.
While algorithms efficiently analyze objective data, they still struggle to interpret subjective aspects associated with the human experience, as noted by Wierzba.
The Future of the Real Estate Market
The future seems closer than we think. According to Laens, by 2030, we could have technologies like artificial general intelligence (AGI) that will completely digitize real estate operations.
From virtual reality property searches to personalized virtual assistants, experts agree that AI will redefine how we interact with this market. However, adoption will rely more on user acceptance than technical challenges, concludes Laens.
The advancement of these technologies marks the beginning of a new era in the real estate sector, where processes will become faster, more efficient, and accessible to all.
