How Real Estate Businesses Can Leverage AI for Marketing and Sales

If you’re keeping your thoughts around- “AI in real estate is all about orchestrating processes and handling properties efficiently”- This is the high time to expand your knowledge base, as artificial intelligence has more to offer.

Deloitte’s research finds that 52% of real estate developers believe AI can predict property valuations, underscoring its role in pricing accuracy and 360-degree property assessment. Another study reports that nearly 48% of property managers plan to increase revenue through AI-driven efficiency.

This begs the question- Why is there so much buzz about incorporating AI in real estate processes? How can real estate businesses leverage AI through multiple marketing campaigns and relevant tools?

Let’s find the answer. Before digging deeper, let’s have a look at the brief description of AI in real estate.

What is AI in Real Estate?

This refers to the use of innovative algorithms, machine learning, and data analytics to automate, enhance, and optimize processes in the real estate industry. AI and its subsets can analyze large datasets, streamline property management, and predict market trends to deliver personalized experiences for sellers, buyers, and renters.

There are a few notable AI applications in real estate, including AI-enabled property valuation tools, AI agents for seamless communication, and predictive analytics to forecast property market movements. For example, real estate brands using computer vision-enabled property valuation have seen a significant improvement in valuation accuracy.

How AI Enablement Is Revolutionizing Real Estate Sales and Marketing

AI applications in real estate marketing are offering innovative ways to market properties and engage buyers more efficiently. This includes:

1. Data Insights

AI-enabled real estate solutions offer instant access to a comprehensive overview of investments and properties. This allows the real estate marketers to position a specific property with data-driven decision-making. Accordingly, they can convince the investors.

2. Automated Property Valuation

Let’s hear it from Jack, running an AI development company – “My team and I received a lot of questions from the real estate business owners about improving the property valuation. However, we asked the business owners to incorporate AI tools into their properties so that they can achieve maximum value.” After a few months, the clients began to see results.

Automatic property valuation models utilize historical sales data, property characteristics, and market trends to provide real-time property valuations. This enables marketers to save time by providing an exact valuation, helping them market the property effectively across various websites.

3. Automated Lead Generation

AI tools in real estate can improve lead generation. Here, ML algorithms assess a vast amount of data from multiple resources, including real estate websites, social media, and public records. This helps improve understanding of the target audience and score these leads based on their likelihood. This enables agents to prioritize the marketing efforts on high-potential prospects.

4. Personalized Marketing Campaigns

AI tools can curate customized marketing campaigns based on customer preferences. This helps with improving customer engagement and enhances the effectiveness of multiple marketing efforts.

One notable example of personalized marketing is personalized email programs. Here, AI tools analyze marketing history and prior inquiries and provide recommendations to marketers. This enables the marketers to hatch their next campaign steps.

5. Content Generation

Gen AI can develop personalized content for social media, emails, and other marketing materials. This saves real estate marketers precious time while delivering unique content across multiple channels.

6. Sales Forecasting

Artificial intelligence can assess historical sales data to predict future trends. This enables marketers to plan advanced strategies and allocate more resources effectively.

7. Portfolio Management

AI can assist real estate marketers in managing their portfolios by analyzing performance. This enables them to understand the market better and position the portfolio for investors.

8. Video Marketing Strategies with Gen AI

Artificial intelligence is widely regarded as a boon to the real estate industry. On that note, video marketing plays a significant role in creating compelling property videos. One of the most potent applications of gen AI in real estate is automated video creation. Platforms can generate high-quality videos from simple property photos or descriptions. This reduces the need for manual effort of marketers.

Best Practices to Implement AI in Real Estate Marketing Efforts

To ensure the successful incorporation of AI in real estate marketing, follow the best practices:

Start with a Pilot Project– Begin small to test the efficiency of AI tools and analyze the potential pitfalls. This will help you to make necessary adjustments before scaling up the marketing team.

Focus on Data Quality– Evaluate and ensure that all the customer data is accurate, fine-tuned, and up to date, which generates reliable insights and predictions.

Monitor Performance- Track the performance of AI-driven marketing systems, including CRM platforms and video analytics tools, to ensure efficiency improvements.

Collaborate- Make the most of your marketing, sales, and customer service teams in the AI implementation procedure. Their input and feedback ensure that marketing AI tools meet their needs to improve productivity.

Customer Retention- Check customer retention rates to evaluate the impact of AI on customer loyalty. Higher retention rates indicate that AI is enabling us to build strong, long-term customer relationships.

Change management- Incorporating AI requires changes in procedures, workflows, and team management. Ensure that your marketing team is prepared for any changes and ready to take additional support.

Wrapping Up

AI is continuously transforming multiple industries and their marketing team, respectively. To cut through the noise, real estate businesses must invest in marketing to maximize value. To do the same successfully, your brand should have all channels up and running. From website to application, processes must be streamlined to maximize value.

On that note, a real estate app development company can help you transform your dreams into reality. From monitoring the latest customer experience to streamlining marketing activities, everything can be done through a robust application. Hire experts from a reputed app development agency and see the difference within a stipulated time.