AI is Not Replacing Real Estate Agents: It’s Making Them Better
Key Takeaways:
- Real estate agents are not being replaced by AI. Instead, AI tools are emerging that can augment human capabilities and make agents more efficient and effective.
- Brokers are in a unique position to leverage AI and provide additional value to their agents, improving their relationships and increasing profitability.
- Adoption of AI in real estate is still in its early stages, but tools like Restb.ai, which enhance the search experience for buyers, and Be Human, which personalizes client communications, are showing great promise.
AI Is Augmenting Human Capabilities
Ashley Danne, Regional Director of ReMax Michigan, argues that AI is not a threat to real estate agents but rather a powerful tool that can make them more effective. She emphasizes the highly personal nature of real estate transactions and the importance of human connection. “In the world of computers, one plus one always equals two,” she says. “In real estate, one plus one usually equals purple. There are so many factors with the humanity involved.”
Danne views AI as a form of human augmentation. “It makes us better at what we are and what we can be. We still do what we do very well, but it augments us.”
The Value of AI for Brokers
Danne believes that brokers are in a prime position to adopt AI and leverage its benefits to improve their business. “This is a GameChanger for Brokers across the country,” she says.
She argues that AI can help brokers provide more value to their agents by automating tasks like social media strategy, SEO content creation, and web page design. “A broker that understands how to utilize this can build the right prompts to have these strategies created. They can have spectacular hooks on Facebook that are going to get that click, you can have all of the most forward-leaning Instagram hashtags that are out there. The admin doesn’t have to know how to do it, they simply need to follow the prompts, have the strategy created and then execute the strategy,” she explains.
Practical AI Tools for Real Estate Agents
Danne highlights a few noteworthy AI tools that agents can use today to increase efficiency and improve their business:
- Co-pilot: She lauds the integration of Co-pilot into Microsoft products, noting that it can save agents time by automating tasks like summarizing data and crafting more thoughtful replies to emails.
- Restb.ai: This AI-powered platform utilizes image analysis to revolutionize the home search experience. Instead of relying solely on data points, buyers can search based on personal preferences, such as backyard features or specific types of kitchen layouts.
- Custom GPTs: Several companies are developing AI tools that can generate personalized listing descriptions, taking data points and uploaded photos and creating a comprehensive marketing package.
- Be Human: This platform creates personalized videos. Agents can record a single video message that can be customized with individual names and sent to a large number of recipients, creating a more personal and engaging experience for clients.
The Importance of AI Literacy and Education
While AI offers significant potential for real estate, Danne points to the need for increased AI literacy and education within the industry. “The biggest need I sense is to increase the speed of literacy of AI and the value of it, and find specific use cases that agents can get the ‘aha moment.’ I get it. Just like one, if they start one, they’ll find the others,” she says.
She encourages agents to embrace AI and take advantage of the “different moment in our history.” Those who embrace AI will be the ones who emerge as leaders and winners in a rapidly changing industry.