TECHNOLOGY
REAL ESTATE ROBOTS
Putting Data toWork The massive amount of available data relevant to real estate can seem daunting:
• MLS listing details • Property records of sales • Customer survey responses • Databases from companies like Zillow, Trulia and Realtor.com • Digital advertising results • Consumer purchasing information • Geo-specific input, such as nearby amenities Today there are algorithms available to analyze that data and use it to estimate market value, predict future listings, target advertising, and match deals based on investment priorities.
Side Note: Juwai.com CEO Carrie Law has already stated publicly that her company’s robots could move outside the real estate sector into senior care and healthcare. This could substantially alter the way real estate investors managing assisted
Here’s how that might look:
Sellers (AI facilitates communication)
1
Buyers (Investors)
Buyers (Investors) + Buyers (Homeowners)
AI and other programs facilitate communication between sellers and buyers (both investors and future homeowners).
living facilities supervise and maintain their properties. However, these “companions” may not be the
International Real Estate 2.0 FOREIGN-LANGUAGE AI WILL TRANSFORM THE INDUSTRY.
Databases (AI facilitates learning & comprehension)
Sellers (set expectations, time listing) Investors (set pricing, rental rates, purchase opportunities) + Buyers (set expectations, spot purchase opportunities)
2
by Celeste Lindell
perfect fit for every resident or facility.
AI facilitates learning & comprehension for all parties.
hatbots, handy virtual assistants that can be programmed to answer a wide variety of questions in different contexts, are making the leap to real-world robots. On your website, they can answer your most frequently asked general and sales queries, passing the questioner along to a live representative as needed. Paired with a virtual tour, they can be ready to provide numerous specific details about a listing. Now, real estate brokerages may begin to bring a robot loaded with chatbot software to open houses to answer listing questions C
currently part of a pilot program gath- ering data for Juwai.com’s AI engine before the company releases the product on a large scale. By working in a limited number of real estate offices in Malaysia, Singapore, the United States, Australia, Canada, and the U.K. as well as on loca- tion at international property industry events, the robots will be able to collect practical data on common phrases and questions in context. Law noted several hundred of the robots could be operating in the United States by the end of 2019 “if demand is high enough.”
that the agent may not know and in a language the agent does not speak. For example, to help non-Chinese-speak- ing real estate agents assist Chinese property buyers, international property portal Juwai. com has partnered with tech startup Singou Technology to create Mandarin-speaking robots. “These robots have the same AI brain and intelligence as our chatbots,” ob- served Juwai.com CEO Carrie Law. “[They] are essentially a carrier that lets our AI consumer service engine be present in real estate sales offices anywhere in the world.” The Mandarin-speaking robots are
Landlord/Rental Owners (AI facilitates management, communication)
3
Tenants (online tools for lease signing, rental payments, maintenance reports) + Investors (best practices for continuous occupance, preventative maintenance)
Celeste Lindell is a content marketing specialist at
AI and other programs facilitate management of investment properties via logistical assistance with paperwork and legal documents, communications, and general operations.
Cox Automotive Inc. Learn more by emailing clindell@gmail.com.
36 | think realty magazine :: july 2018
thinkrealty . com | 37
Made with FlippingBook - professional solution for displaying marketing and sales documents online