How AI Is Changing The Property Marketing Landscape

Both real estate and the tech industry are fond of buzzwords — and no term is buzzier these days than “AI” or artificial intelligence.

It’s not hard to understand, though. If we told you there was a tool that automates tasks so you can free up time in your hectic day, you’d likely say: “Where do I sign up?!”

We’ve already talked at length about how ChatGPT can be a busy agent’s secret weapon, but that barely scratches the surface of AI’s potential use in real estate.

So join us for a peek into the future of real estate marketing — and how AI will shape it.

AI for beginners: Understanding this groundbreaking technology

AI means different things to different people. To some, it’s a capable but (still) imperfect virtual assistant. For others, it’s the next big technological leap. Some pessimists also insist it’s the harbinger of the apocalypse.

For the purpose of this discussion, though, let’s use a by-the-book definition: AI is a branch of computer science that aims to create systems that can reason, learn, and act like a human so they can perform tasks often done by humans.

“Systems” can mean both machines and software, but the latter has become more mainstream (so relax — there’s no AgentBot3000 out to get your job!).

There are many types of AI being used and developed today, but three major ones include:

Machine learning
This entails creating algorithms or programs that allow computers to analyze data so they make predictions or decisions from the insight they glean (not unlike a data analyst). If you’ve ever wondered how Gmail filters out spam messages from your inbox, that’s machine learning at work.

Natural language processing (NLP)
This is the realm of ChatGPT and Bard, chatbots that not only process human language but also output text that sounds uncannily human — including poetry, blogs, and even property listing descriptions.

Computer vision
If NLP is concerned with understanding language, computer vision deals with recognizing images and objects. Self-driving cars and facial recognition technology are just some of its mainstream applications.

And the best part? All three of these have applications to the real estate industry. Let’s take a look at some ways you can utilize AI for your marketing.

Chatbots

If you’ve ever interacted with a chatbot before (or have one on your real estate website), then you’ve interacted with artificial intelligence. From answering commonly asked questions, to qualifying leads, to scheduling appointments, chatbots can be a real lifesaver for frazzled agents. It’s like having a virtual assistant that’s on call 24/7, handling tasks so you can focus on the big picture (read more about chatbots here).

Tools to try:

• Facebook’s default chatbot suite

• Chatfuel

• Botsify

IDX

IDX doesn’t just allow you to display MLS listings on your website — it’s become so much more powerful thanks to AI. For example, did you know that some IDX suites can deliver relevant listings to prospects based on their browsing behavior on your website? Or that it can crunch numbers in real time to generate always-up-to-date market reports?

Tools to try:

• IDX Broker

• iHomefinder

CRM

Generating leads is important. But nurturing prospects and existing clients is just as critical. Fortunately, AI empowers CRMs to be even more effective at their job. By using predictive analytics, a CRM suite can determine which prospects are most likely to convert, so you can focus your marketing efforts on them. AI can also analyze a prospect’s behavior and send them personalized emails containing listings that might pique their interest. (Looking for more nifty IDX features? Check out this blog we wrote!)

Tools to try:

• Salesforce Einstein

• Microsoft Dynamics 365

• Oracle Sales Cloud

Programmatic ads

At the heart of effective marketing is delivering the right ads to the right people at the right time. Luckily, programmatic ads allow you to hyper-target homebuyers and sellers at scale by looking at their demographics, interests, and browsing behavior. What’s more, it can optimize your campaign by trying different ad creatives, placements, and targeting strategies, ensuring you get the highest possible marketing ROI.

Tools to try:

• Google Ads Manager

• Facebook Audience Network

• Adobe Advertising Cloud

Home valuation

Homebuyers can rarely purchase a property outright. A lot of time, they have to sell their current home and make up the difference by taking out a mortgage. You can make this process easier by adding a home valuation tool on your website. It uses AI to give a ballpark estimate of a property, using data such as location, size, condition, and features. It’s a simple and powerful feature that makes your site a one-stop shop for people looking to buy or sell homes.

Tools to try:

• Zestimate

• HomeSnap

• Properly

Image recognition

Image recognition is extremely versatile. It can assess a property photo to determine its estimated value, it can detect duplicate listings, and it can even identify features of a home. Most impressive of all, though, is the fact that it can stitch together photos to create virtual tours that give prospects a 360-degree view of a house.

Tools to try:

• Cameralyze

• Matterport

Get more results with less effort

Technology is ever-evolving and artificial intelligence is further proof of that. With their ability to do tasks efficiently, AI tools are fast becoming the MVPs of real estate marketing. So if you want to be more productive without actually working more hours, give AI technology a spin!

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