## AI is Not Replacing Real Estate Agents, But Those Who Don’t Embrace It Will Be Left Behind
**Key Takeaways:**
– Real estate professionals need to embrace AI and use it to their advantage to remain competitive.
– AI tools can help real estate professionals automate tasks, improve efficiency, and enhance their client interactions.
– The most important element of a real estate professional’s success is their ability to build trust and rapport with their clients, a skill that AI cannot replicate.
**AI: A Tool, Not a Replacement**
Artificial intelligence (AI) is rapidly transforming the real estate industry, and it’s prompting many professionals to question its potential impact on their careers. According to Ginger Bell Ed, a mortgage industry veteran and expert on AI in real estate, AI is not a threat but rather a valuable tool that can help realtors and financial advisors streamline their workflow and improve client engagement.
“AI is not going to replace you,” Bell Ed said. “In fact, I think it’s quite the opposite. It’s a matter of allowing Realtors to really stand out as that expert.”
Bell Ed suggests that AI should be embraced as a way to enhance service offerings. She cites the example of social media, which was initially met with skepticism but eventually became an integral part of business strategy for many professionals.
“It’s a matter of first of all, hey I get it, it’s going to be big, how can I use it?” she said.
**Tools for Success**
Bell Ed highlights several AI tools that real estate professionals can leverage to create a more efficient and effective work environment.
– **Move Tube:** This streaming platform allows realtors to share listings and incorporate AI-powered features, such as voice cloning, to personalize their content.
– **Homage:** This tool uses AI to stage listings, generating professional-looking photos for marketing purposes.
– **Nido:** This AI-powered tool helps create video scripts and marketing materials for real estate listings. It generates a script based on the specific property and surrounding area and even integrates b-roll footage, music, and voiceover.
**Building Value**
While AI can automate many tasks, Bell Ed emphasizes that the human element remains crucial in real estate.
“I think the value begins with sticking to those first conversations, quite honestly,” said Bell Ed. “And what that looks like. You know, I mean, you have a process that you use in going through that. In fact, you just did a class on it, right, as far as what that value proposition is.”
Relationships and personalized interactions are key, she says.
“We’re at the time of this recording, we’re in the middle of you know what’s happening with the NAR settlement and and what’s going to happen, as far as um for buyers and so the world has changed, for especially for real estate agents,” said Bell Ed. “So now we’ve got AI and now we’ve got this whole you know what’s going to change as far as buyer. But it’s building value and so you know, it’s it’s, I think it’s getting into that, having those relationships and asking the right questions. You know sometimes I think um we don’t realize there’s a process, that you should be going through that should be you know here’s the first step, you know Discovery… There’s a process and the first thing is is to find out you know, not just you know what you do, but what is someone looking for. So ask, beginning with asking questions.”
**Harnessing AI for Efficiency**
Bell Ed believes that AI can be used to enhance, not replace, the human touch, allowing real estate professionals to focus on building relationships and providing strategic advice.
“You can use Chat GPT to help you write some of those questions right,” said Bell Ed. “And so you know that’s a lot of it. And then the other thing, excuse me, is in the sales process sometimes we get into this where um, you know, we called it smoking out objections. And so, you know, you if you want to really get someone who’s going to be a seller or buyer with you, then you need to make sure to to ask them right questions, find out what their objections are, find out what they’re looking for, and then ask for the business.”
**The Power of Asking the Right Questions**
Bell Ed shares a powerful script she learned from the book “The Aladdin Factor,” by Jack Canfield, that helps real estate agents close deals by addressing any remaining objections and clarifying the client’s commitment.
“It’s not just something you start with, right, so it’s going through the process and building that rapport and asking questions,” said Bell Ed. “And, so when you get to the point of closing and you’ve gone through that process, and you’ve smoked out those objections, are there, okay, is there anything else, any other questions, you know, is there anything else that would keep you from working with me, is there anything else that you know, is a concern? Um and so once you get to that point, and you know you’ve exhausted that, then the final question is: ‘Do you have any additional questions that you would like to ask me that would keep you from working with me?’”
The key is to ask the question directly and then stop talking, giving the client space to respond.
“If you never ask that question, and then you become bitter if they use somebody else, that’s on us, because we never asked, ‘Hey, is there any reason why I can’t be your lender?’” said Bell Ed.
Bell Ed emphasizes that this script allows the client to provide an honest answer and gives the real estate professional an opportunity to address any remaining concerns. Asking the question directly also demonstrates confidence and professionalism.
**The Importance of Visibility**
Bell Ed stresses the importance of being visible, both online and in the real world.
“So many agents are not visible right now,” said Bell Ed. “And I’ll give you a little story on being visible. Um, I actually don’t have the shirt on today, but in a lot of videos, I have my KB Neo shirt… it says ‘No Excuse’… ‘No Excuse Lender.’ And so being visible is, is is huge.”
She recounts a story where, while shopping at the grocery store, a potential client recognized her from her shirt and approached her to discuss their mortgage needs.
“We started talking,” Bell Ed said. “And I ended up not being able to help him, but he ended up leaving me, I, you know took, you know, did my thing, always do Discovery calls and they don’t cost anything, and I just, you know, we went through his scenario and spent about 30 minutes on the phone.”
Bell Ed highlights that even though she couldn’t immediately help the client, the interaction resulted in a positive review.
“Being visible… in the real world, something that we were actually, I was talking about it at Bible study the other day,” said Bell Ed. “And one of the guys was like, ‘you know what I go go into Lowe’s. I like to have my ear pods in and I like to be listening to something, and I don’t want to talk to people.’ And we’re like, ‘but that’s like where we should be talking to people… there’s plenty of time maybe on the treadmill or whatever, other times we don’t want to interact.’ But I think that’s something that we’re needing as a society, that we want to interact.”
**Conclusion and Summary**
Artificial intelligence is an undeniable force in the real estate industry. It offers realtors and financial advisors a powerful toolkit for automating tasks and streamlining their workflows. However, Bell Ed argues that the human element, specifically the ability to build relationships, provide personalized advice, and connect with clients on an emotional level, will remain crucial for success. By viewing AI as a tool to enhance their services, real estate professionals can leverage its capabilities to improve efficiency and remain competitive in an increasingly digital landscape.
The takeaway is clear: AI is a game changer for the real estate industry, but it’s not a replacement for human connection. Embrace AI, but don’t forget the value you bring.