Planning, money, and these days, donning an AI-enabled virtual reality (VR) headset are all necessary when purchasing one’s ideal home.
Thanks to mixed reality, the metaverse, and generative artificial intelligence (GenAI), realtors are increasingly offering their clients an immersive experience.
Artificial Intelligence (AI) and machine learning (ML) are revolutionizing real estate consulting firms like Anarock Group by providing predictive maintenance, virtual property tours, and predictive market analysis. Additionally, technology is facilitating the creation of focused marketing plans and streamlining real estate transactions.
According to Anuj Puri, head of the Anarock company, “Anarock used its AI/ML proptech solution ASTRA to boost primary housing sales by up to 15%.”
Sales teams can concentrate their efforts on queries with the best conversion potential by using ASTRA’s predictive analysis, which examines consumer behavior to rapidly give “the highest quality leads”.
Managing director of sales at customer relationship management company Salesforce India Arun Parameswaran says real estate companies need to handle enormous volumes of data and analyze it for useful insights.
He goes on, “AI and automation are bringing in a new economic era that will be more revolutionary than any previous technological innovation.”
The Hiranandani group, based in Mumbai, agrees. The company hopes to streamline the purchasing process and offer customers real-time support through the use of technological breakthroughs.
According to Niranjan Hiranandani, managing director of the Hiranandani company, “it is important to note that real estate is a touch-and-feel industry and customers will always close a deal after a physical inspection.” However, he continues, technology may work as an enabler to produce more relevant market information and a more curated market experience.
Additionally, Prestige Group, situated in Bengaluru, claims that it increases firm revenue.
According to Vishesh Kaul, chief information and digital officer of Prestige group, AI-driven voice bots communicate with customers and “ensure the timely delivery of the right information, maximising the probability of conversion.” In addition, the technology offers guided experiences and recommendations.
Project viewing is changing with the merging of 3D modeling, VR, AR, and AI.
According to Anupma Khetan, customer experience evangelist at Sunteck Realty, “leveraging GenAI, personalised property recommendations tailored to individual customer interests are significantly enhancing the purchasing experience.” This system suggests properties that meet the specific needs of each consumer by analyzing past data and customer preferences.
The future excites real estate agents as well.
According to Hiranandani, as AI develops, the real estate industry will get even more customer-focused and dynamic.
Puri of the Anarock Group predicts that these technologies will become much more accurate and efficient as they advance. “Exciting times lie ahead.”
