How Generative AI Will Change The Job Of Real Estate AgentsAdobe Stock Real estate agents and other professionals in their industry are in the business of selling good old-fashioned solid bricks and mortar. But that doesn’t mean their jobs aren’t impacted by new technology.
Digitization, the internet, and more recent trends like drone photography and virtual reality have all made a big impact. But bigger changes could be on the horizon as agents, appraisers, investors and mortgage brokers race to benefit from the opportunities of generative AI.
A recent McKinsey report estimates that the hottest tech trend of moment could generate up to $180 billion in value for the real estate industry. This means that it’s inevitable that the roles of professionals will change as they adopt new working practices and learn to augment their abilities with new, generative tools. With this in mind, lets take a look at some of the changes that we can expect to see. Generative AI And The Real Estate Business
Generative AI has the potential to transform many of the day-to-day tasks carried out by real estate professionals. For example, it can quickly generate property descriptions and listings to entice potential buyers. This could involve using computer vision to analyze photographs, floor plans or even video captured by drones and translating them into written descriptions. These descriptions can even be personalized to appeal to individual customers.
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If a property doesn’t exist yet because it’s still being built, then AI could create images to show to off-plan buyers or even VR/ AR environments to demonstrate buildings via three-dimensional walkthroughs. Forbes Daily: Join over 1 million Forbes Daily subscribers and get our best stories, exclusive reporting and essential analysis of the day’s news in your inbox every weekday.
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