Artificial Intelligence In Real Estate: The Next Disruption
Remember the time when you searched for some properties to buy, but took a break from it and logged into your Facebook account? You see that your Facebook wall, too, is displaying ads for similar properties, without you even looking for it. Well, before you start wondering if your account has been hacked, let me tell you that the scenario is a classic example of the use of artificial intelligence in real estate.
Online marketing for real estate can be quite useful. You can increase your reach and visibility. You can understand your buyer’s persona better. Moreover, the time for making conversions can be reduced drastically using online marketing in real estate.
However, like any other technique, online marketing for real estate is evolving fast. The inclusion of artificial intelligence is one such development, which is changing the marketing landscape quickly.
If you think that you cannot use artificial intelligence in real estate, you are entirely wrong. Every marketing tool in real estate aims to empower you with accurate targeting and better marketing. Artificial intelligence in real estate binds these marketing tools better.
However, to understand the implication of artificial intelligence in real estate, you need to know how AI in real estate fits in. Knowing the use of artificial intelligence in real estate marketing efforts among your marketing tools would help you to improve your business.
When speaking about the artificial intelligence in real estate, the following are the most profound techniques that you can use. You can learn these techniques to use them to market your real estate business better.
1. Smart search and search prediction
Search engines have evolved massively over the years. The introduction of artificial intelligence techniques to the search engines is making them smarter with each passing day. Let me give you an example to make it clear.
A few years back, suppose people are searching for real estate on the search engines. The search result would have shown them the pages that had more volume of the search word. However, the page appearing at the top of the outcome could have been not relevant at all. Still, it ranked at the top due to the sheer number of keywords present on the page.
The current search results from the search engines say a different story. Nowadays, when someone searches for real estate, the results displayed are the most relevant ones. Therefore, if you can make your page search-engine friendly and consistent, the chances are that your page will rank higher.
Though search engines ranking is something that you cannot alter, still knowing the fact would help you to use artificial intelligence in real estate better. It helps you to optimize your pages and websites according to the need.
2. Machine learning capabilities
When you are including artificial intelligence in real estate, knowing about machine learning is necessary. The machine learning algorithms make the process of capturing user intent quite efficient, whom you can target at some later stage.
Machine learning is an adaptive technology. Whenever your visitors interact with the internet, their digital footprints remain on it. The ML algorithm follows and captures the information to be used for reaching out to the interested parties.
Moreover, the search engines are suited with the machine learning capabilities too. Therefore, the search tools now understand the audience and try to match the queries according to the user’s intentions. It means, if your real estate page or the properties match the user’s interest, it will show up on their search results page.
Additionally, the machine learning algorithms are self-learning. Therefore, when it interacts with the visitors multiple times, it begins to identify the user behavior. Further, it adapts itself to provide the visitors with exactly the match that they are looking for.
Machine learning abilities speed up the total marketing cycle better. Furthermore, it allows in creating a better brand value by increasing trust and loyalty from users.
3. Data Driven Marketing
Real estate marketing depends on finding out the potential audience that you can target. However, to find out quality leads and converting them into customers, requires data driven approach.
Before you can generate any interest in your audience, you need to know what your buyer wants. Also, it requires you to understand where your buyer’s interest lies. Thus, before pitching a property to your clients, you need to understand his basic requirements. Take a look at a certain situation to understand the philosophy behind the customers’ interest.
Suppose you are pitching your real estate deal to a high-earning middle-aged person. You know the property advertisement you sent is good, but still it fails to generate any interest. AI powered data driven marketing helps you to address these kind of situation in a better way.
When you check out the reason for no-response from the customers, you may find out that the property ad you sent may not be relevant because he might be more interested in a property near his kids school, which could be in another direction. Therefore, he might not feel the need to interact with the marketing SMS or email that you sent him.
Artificial intelligence in real estate understand these issues using data driven approach. You can use the technique to follow the customer’s movement, and send him relevant property that actually fits his needs. Artificial intelligence in real estate also helps you to craft the perfect message with precise targeting so that the buyer gets interested in your business.
4. Image recognition through artificial intelligence in real estate
Real estate depends heavily on visual perception, i.e., images. If people cannot see decent photos of your properties, the chances of selling it reduces. Also, images that don’t contain accurate descriptions often leads to mismatch during an internet search.
Artificial intelligence in real estate can help you to overcome the issue. You can use image recognition, powered by AI to understand, process, and describe the image with incredible accuracy.
When you don’t have to describe an image and the search engine itself becomes adept at identifying it, it can help you to reach your users more efficiently. Moreover, they can check out the images without any specific keywords as the image recognition helps you to categorize and describe images better.
Image recognition, thus, help you to remove the manual work of tagging each photo. Therefore, the chances that you will commit a human error reduces. Additionally, it provides you a faster image processing time. It results in the better stacking of your real estate photographs, and quicker access time.
Faster and efficient process is the key to boost your real estate conversion, and image recognition can help you to do so.
5. Remarketing by property suggestions
Remarketing is a strategy that allows you to reposition your real estate business in front of your audience, until the point they buy from you. It can act as the missing link that you can use to convert your audience so that you do not lose them as leads.
When you use artificial intelligence in real estate, remarketing becomes easier. It happens because; AI can track all the activities of your lead through cookies. Therefore, you can always pitch them through advertisements.
When you market your real estate business, there are several digital channels to choose from. The real estate digital channels have their strengths and weaknesses. However, if you use them judiciously, the result is excellent. Artificial intelligence in real estate marketing help you to bind all these channels together for better results.
Therefore, if some users have checked out your properties on your website, but is deliberating on the further process, you can reach out to them through other sites, social media, and even search engines. The idea is to keep your business in front of them, no matter which online channel he visits.
Thus, remarketing helps you in building the intent and increase top-of-the-mind recall. Use of artificial intelligence in real estate remarketing helps you to do it better.
6. AI in Real Estate through SMS Marketing
SMS marketing is considered ineffective by many marketers in this era of broadband and high-speed mobile internet. However, when used correctly, it gives you enormous returns. Therefore, being a real estate marketer, it is high time that you discard the SMS marketing myth once and for all.
An SMS could be a more useful form of drawing attention as people tend to check text messages more often than emails. However, sending text messages for real estate marketing that generates interest might now be easy without the proper tools.
Sending a marketing SMS doesn’t mean that you type out your message and send it to your prospects any time you want. Moreover, the person who is receiving the message might not be at the right stage of the marketing channel. This is where artificial intelligence in real estate marketing can help you.
AI in real estate tools helps you manage your SMS marketing initiatives better. It allows you to draft an accurate message, segment your audience, and find out the proper time of sending a message. It puts your real estate business right in front of someone who is looking for a business like you.
You can craft SMS campaigns depending on the person’s real-time location. For example, if somebody is around the area of your property, your tool can keep track of it. Suppose the person is a frequent visitor of the location, you can present a deal offering him the reason to purchase a property from you. It creates an emotional appeal to the person, who may end up being converted sooner than you expect.
Therefore, SMS marketing with the power of AI can transform your real estate business. When you know who to reach out to with what, the chances of selling it to him is quite high.
7. Geo-location using artificial intelligence in real estate
While nurturing your leads, you know that sending them relevant messages and interacting with them iss crucial. However, it is really difficult to chase your client everyday and everywhere. Moreover, your real estate leads would be more prepared to check out your properties if they are in the vicinity of it. Artificial intelligence in real estate can help you to take care of that.
You can use AI in real estate to keep a tab on your leads and clients by using techniques like geo-location. Geo-location uses the AI interface to gather information about people’s online activity based on the physical location. It has been a possibility due to the ever increasing usage of mobile phone, fitted with GPS facility.
You can use geo-location to target your audience in a better way. Suppose, a prospective client is looking for a property in a certain location, your AI interface can understand that. You can program your AI to send messages, particularly at these times, when the user is looking for a real estate. As the intent is high, the chances of interaction increase too.
Moreover, these messages can be customized according to the buyer’s persona. Therefore, the property advertisements will be according to the preference of the client, therefore, making it relevant. Once the interest is generated based on intent, the chances of converting someone is higher.
Although artificial intelligence in real estate was seen as a disruption, it necessarily doesn’t have to be so if you use it correctly. In fact, you can use artificial intelligence in real estate quite effectively in most of the cases.
Moreover, marketing is no longer a tedious process with the latest technologies at your disposal. The use of AI and machine learning in real estate is only making things better. As your real estate business depends on visibility and engagement, AI is a useful addition.
Additionally, you can integrate and adapt the AI tools quite easily. They provide a seamless user experience and gives you a better understanding of user intent and behavior. In short, AI in real estate helps you to reach your clients better.
Let us know whether you already use any AI tools. You can also share your experience with these tools in the comments section.