Real estate Artificial Intelligence: AI tools to sell an apartment

Artificial Intelligence in the real estate sector

The emergence of artificial intelligence in real estate is here to stay. Thanks to the latest advancements, new tools are revolutionizing the real estate market.

The use of this type of intelligence and applications is changing the rules of the game: facilitating real estate transactions and helping to achieve faster and more efficient results. The AI tools available on the market are not limited to a single area but cover everything from data analysis to more visual aspects, such as home staging.

For this reason, if you are a real estate agent, artificial intelligence for real estate should be part of your list of real estate marketing tools and one of the key points in your real estate marketing plan.

If you are an individual seller, it is also important to know the advantages these innovations offer.

What are the advantages of using real estate Artificial Intelligence when selling an apartment?

Artificial intelligence provides numerous advantages in each phase of the property sale process. Below, we detail what they are and how they can optimize each stage:

Customer acquisition and promotion

It is possible to attract clients interested in buying an apartment or property by analyzing their behavior and online searches. Additionally, thanks to segmentation, it is possible to create more specific campaigns that generate better results.

• For agents, tools like real estate CRM allow for data management and analysis, prioritizing the most qualified clients and thus reducing the sales process time.

At Engel & Völkers, we have an internal real estate CRM tool that facilitates your daily tasks, which we provide when you join our team.

• For individual sellers, using AI-optimized ads on real estate portals or social media can create a greater impact on the audience, increasing visibility.

An example of tools to optimize your ads as an individual seller is Chat GPT, which can create descriptions for you. However, if you want more effective results, it is essential to have the help of a professional—such as those at Engel & Völkers—who knows how to manage these tools, saving you effort.

Know the market and set prices

One of the most relevant steps in selling a property is setting the right price. AI tools can analyze the market and establish a price based on data.

• For agents, this advantage is very useful, as they can manage more than one property at a time, ensuring that the price aligns with the market and accelerating the sale.

• For individual sellers, it is possible to set a price without needing specific knowledge of the real estate sector. Using AI will allow you to analyze the market and draw conclusions. However, a real estate agent specialized in the sector will always provide better market analysis and advice.

Again, Chat GPT or similar tools can carry out this task. For example, it could analyze Engel & Völkers’ annual report and provide conclusions based on the data.

Attractive presentation of the property

One of the most important phases in the buying and selling process is the presentation of the property on the market. The more attractive it looks, the better the results. One of the benefits of artificial intelligence in real estate is improving this appearance.

Thanks to AI, it is possible to highlight its potential, increasing its appeal and professionally attracting interested clients. In this case, we can highlight various applications and digital tools:

• Virtual home staging tools: In this case, both the real estate agent and the individual seller can showcase a property’s potential by virtually staging the décor and adapting it to each client’s taste.

• Floor plan creation tools: Both parties can use these applications to generate digital floor plans of the property, allowing the layout to be displayed without the need for a visit.

• Virtual tour tools:Thanks to applications like Floorfy, both agents and individual sellers can create 360º virtual tours. In other words, with AI tools, they can offer an immersive experience in which potential clients can visit the property virtually in 3D.

This is one of the platforms or programs used by Engel & Völkers professionals to succeed, and which you can also use if you join our team as a real estate agent.

Sales closing and document management

The use of this type of AI tools will facilitate sales closures and streamline transaction management. For example, digital signature tools allow, in both cases, the authentication and signing of documents digitally without the need for travel.

Ultimately, the use of Artificial Intelligence in the real estate sector translates into the following advantages:

• Saving time and effort for all parties involved.

• A more professional appearance with better results.

• Optimization of the client experience.

• Automation of repetitive tasks and improved management.

• Acceleration of the sales process.

This is why Artificial Intelligence makes selling a property much easier. However, it is always advisable to rely on the services of a good real estate agency, as it is not infallible.

The real estate agents at Engel & Völkers, in addition to having the best tools on the market, receive continuous training and seminars, making them highly qualified professionals to sell any property.

Limitations and challenges of real estate Artificial Intelligence

As we have already mentioned, these artificial intelligence tools for real estate agents can make mistakes. That is why it is important to continue training as a professional if you want to stand out in the sector, just as our professionals do. Alternatively, you can rely on a qualified agent to ensure the successful sale of your home.

Here are some of the limitations and challenges associated with using artificial intelligence:

Dependency on updated data

AI operates based on the information it finds in databases. If these are not updated, complete, or correct, the results may be inaccurate.

The most common AI errors occur in areas such as miscalculated market prices or outdated trends.

Costs associated with some tools

In general, the use of AI tools in real estate agencies requires an investment. While this may not be a problem for some brands, for smaller ones, or even for individual sellers, it can be a significant effort.

Using artificial intelligence involves acquiring software, in some cases also hardware or devices, and even hiring qualified personnel or training the team.

Importance of human supervision

Letting this intelligence handle all human work without any supervision can be counterproductive.

In fact, delegating all tasks, such as setting a property’s price, may be an unwise decision. AI is not capable of making decisions based on the seller’s emotional circumstances, which are closely involved in the sale.

That is why having the help of a qualified professional who knows how to interpret this data is the best option. If you want to sell your apartment faster, let us advise you to obtain the best result.

If you are a real estate agent, you already know the advantages of using AI in your work and how Engel & Völkers incorporates it into their daily operations. If you want to use it, making your path to success shorter, join our team and start enjoying its benefits.