For decades, artificial intelligence was something only relative to science fiction. We imagined friendly android assistants, or deadly robotic enemies, powered by computerized brains. The reality of artificial intelligence is far simpler or more practical, as we harness the power of computers to intelligently analyze data far more quickly and efficiently than human minds ever could. This technology is found in many industries, from medicine to real estate. Not sure how computer intelligence could help with the buying and selling of houses? Using AI and machine learning, Set Schedule reviews real estate data to generate leads for agents, helping them connect buyers and sellers.
Machine Learning Identifies Trends
In the world of real estate, leads refer not to people who are already selling their house, but rather people who are ready to sell their house and haven’t taken that step yet. Real estate agents identify leads by looking for people who are ready to sell as they move on to a new stage in their life, for instance.
Artificial intelligence is good at predicting future behavior based on past behavior. In science fiction, this takes a sinister turn. In Minority Report, computers predict who will commit a crime and stop it before it happens, raising serious questions about free will and the police state. In real life, computers look at past data on when people have bought and sold houses to determine when a particular home might go on the market, and what its potential value might be.
In the past, this sort of data-crunching had to be done manually by analysts. Because most real estate agencies don’t have a team of analysts standing by, they would instead generate leads through word-of-mouth and mass marketing. Today, Set Schedule reviews the data and analyzes it quickly and efficiently using machine learning algorithms to tell you who might be ready to sell their house, possibly even before they realize they’re ready to sell.
Automation: Another Tool of the Future
Another technological tool that is changing business is automation as it allows machines to handle tasks with little or no human oversight. This can be physical tasks, such as a robotic assembly line, or virtual tasks, such as bots that adjust product prices based on market conditions. In the world of real estate, this largely takes the form of automating marketing and basic communication, freeing the agent up for those tasks which require a human touch.
Set Schedule Reviews Data, Real Estate Agents Act
While machine learning, artificial intelligence, and automation have changed real estate, it’s still an industry that largely relies on a human element. Buyers and sellers both need to feel like they can trust an agent to work in their best interest, and that requires a good emotional connection with a fellow human being, not an algorithm.
Real estate agents understand that buying a house comes down to more than just whether there are enough bathrooms and the quality of the school district. It comes from appreciating the quality of the natural light in the dining room, seeing the possibilities for a rose garden in the front yard, pointing out all the great restaurants just down the road.
Set Schedule reviews the data and provides the leads. But it’s still up to real estate agents to sell the house, and they can do that far better than any machine intelligence ever could.