Real Estate and AI: 10 Reasons Your Job is Safe

Real Estate and AI: 10 Reasons Your Job is Safe

This article shares insights on Real Estate and AI: 10 Reasons Your Job is Safe.  Chris Pollinger wrote this article for Inman News. 

 

Don’t worry, AI won’t take over real estate.  Recent tools like ChatGPT, Jasper.ai, Compose.ai and others have brought much buzz around Artificial Intelligence (AI).  I think we as an industry need to embrace the forward leaning technology.  While many are seeing it as the demise of the real estate agent, I disagree.  We have weathered “the sky is falling” predictions for years.  Here are ten places real estate professionals are safe from AI.

Real Estate and AI: Personal Relationships

AI cannot replace the importance of personal relationships in the real estate industry. Building trust and rapport with clients is a crucial aspect of real estate. The human element is something that AI is not able to replicate. It is more important than ever to double down on investing in driving depth and loyalty with people.

Real Estate and AI: Creative Marketing

Yes, AI can assist with targeted marketing campaigns. However, it can’t replace the need for creative, human-driven marketing strategies. AI relies on collective knowledge. Real estate teams will still rely on human creativity for new, break through ideas.

Real Estate and AI: Negotiation Skills

AI can assist with certain aspects of negotiation like data analysis. But it can’t replace the need for strong negotiation skills. Skilled negotiators bring real and tangible value to their clients.

Real Estate and AI: Adaptability

AI can analyze data and make recommendations based on past trends. It is not able to adapt and respond to unexpected events the same way that humans can. Real estate teams will need to continue to be agile and adaptable.

Real Estate and AI: Emotional Intelligence

AI can assist with certain tasks in customer service. But lacks the ability to replace the importance of emotional intelligence in the real estate industry. Building trust and rapport with clients requires empathy and understanding. Qualities that AI does not possess.

Real Estate and AI: Specific Knowledge

AI can analyze data and provide insights into trends. It will never replace the importance of knowledge in the real estate industry. Real estate agents have deep knowledge of their local market. This provides valuable insights and guidance to clients. AI doesn’t know how to adjust value due to wall to wall avocado shag carpet.

Real Estate and AI: Legal Protection

Artificial Intelligence won’t be able to offer the same protection as a license does. AI can automate much of the paperwork. But it can’t protect or guide a client in the case of a dispute. The size of the investment of real estate needs a layer or two of liability protection. At the end of the day, AI can’t show up in court and talk to a judge.

Real Estate and AI: Networking

AI can assist with certain aspects of networking, such as identifying potential leads. However, it can’t do the work of the importance of human connections in the real estate industry. Building a strong network of contacts is crucial for success in real estate. Your personal book of business, and how you care for it is a safe haven from AI.

Real Estate and AI: Physical Presence

AI can schedule viewings. It can’t show up. Real estate professionals will still need to meet with clients in person. Efforts to defer things like showing property to a tech company have ended in failure. Real people want to visit the home they are going to live in. The breeze, smells and sounds are all things that can’t be captured in a virtual tour.

Real Estate and AI: Problem Solving

AI is able to assist with analyzing data and making recommendations. It won’t replace the need for human problem-solving in the real estate industry. Real estate professionals will still need to be able to think creatively. Each transaction has issues. Clients will still need a professional to solve problems and overcome challenges.

AI will impact the real estate industry and improve efficiency in many areas. However, there are certain aspects of the industry that will remain unchanged. The importance of personal relationships will only be amplified. Negotiation skills, adaptability, and problem-solving will continue to be key places of value. The real human element can’t be replaced by AI.

 

A Parting Thought

We hope that the information provided is helpful in guiding you on your journey to building a thriving real estate business.

As luxury real estate broker consultants, real estate recruiting coaches, real estate business consultant, and CEO consultants for real estate, we are confident that our resources, insights and strategies can help you achieve your goals.

Remember, success in the luxury real estate industry starts with knowledge and strategy, and we are here to provide you with both.

Here are some links to our more popular resources:

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Luxe Real Estate Report and Forecasts

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For additional and real time insights, updates and news from our Founding and Managing Partner, Chris Pollinger, you can follow him on LinkedInTwitterFacebookInstagram

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