It’s understandable if this triggers concern, as change often does. However, when utilized and harnessed correctly, this technology offers an opportunity to amplify capabilities, streamline operations, heighten customer experience, and grow businesses.

In fact, workers who are early adopters of Artificial Intelligence in their work are seeing considerable boosts to their careers. 

Automation tools don’t need to replace the human touch in real estate. Instead, think about how you can use Artificial Intelligence to your advantage. For example, letting it handle tedious tasks and allowing you to devote your time to building relationships, strategizing your growth, and closing deals. 

If you’re ready to embrace the AI revolution, then read on for more information on how you can leverage it to supercharge your real estate business.

What is Artificial Intelligence?

Artificial Intelligence (AI) is an advanced computer or computer-controlled system that’s able to carry out tasks that typically require human intelligence.

AI showcases its agility in a variety of ways. For example, it can comprehend speech, similar to how virtual assistants like Siri or Alexa respond to your inquiries. It can also identify patterns, like how Netflix suggests your next series based on your viewing history. 

Although AI may initially appear intricate, its ultimate objective is quite simple: to enhance and simplify your life.

In the realm of real estate, the integration of AI offers immense benefits like streamlining your admin work, making your daily outreach more manageable, and enabling you to navigate the market more quickly. 

With AI as your trusted ally, you can confidently embrace the future of real estate, knowing that you have the power of advanced technology by your side.

The benefits of using AI in real estate 

AI is transforming how people buy, sell, and interact with properties which is profoundly reshaping the landscape of the industry.

Here are some examples of how AI is currently changing and enhancing real estate:

• Lead generation like AI-driven algorithms and data interpretation

AI tools can sift through vast data collections to identify and prioritize potential clients—determining which leads are most likely to convert, which aids in the allocation of resources and boosting conversion rates.

• Market analysis

Predictive AI can analyze market conditions, economic indicators, and consumer behavior which can be used to predict future market trends—helping real estate agents and investors make more informed decisions.

• Showing properties

Virtual tours and Augmented Reality (AR) are enhancing the property viewing experience. Virtual tours allow potential buyers to explore properties remotely, providing a more comprehensive view than traditional photos. AR can enhance these tours, allowing users to visualize how their furniture might look in the property.

• Property valuation

Instead of relying solely on human appraisal, AI systems analyze multiple data points for a more accurate and objective valuation of a property.

• Property search

Algorithms sift through listings and recommend properties based on user preferences, making the search process more efficient and ultra-personalized.

• Automated customer service 

Tools like chatbots and virtual assistants provide instant responses to customer queries, reducing wait times and allowing human staff to focus on more complex tasks. Plus, these AI systems can learn from interactions and improve over time.

• Administrative tasks

While not specialized to only the real estate industry, document automation can streamline time-consuming paperwork and contract management for agents. AI can identify and fill out relevant paperwork, reducing the risk of human error and speeding up the process.

• Enhanced fraud prevention 

Machine-learning algorithms can identify anomalies or suspicious activity, allowing for early detection and prevention of potential fraud.

• Improved experience

AI tools like the Presence Copilot App will boost agent productivity and facilitate client collaboration. These apps help manage appointments, automate tasks, and provide insights all in one place, allowing agents to work smarter and enhance client relationships.

Undoubtedly, AI is transforming the real estate industry, making it more efficient, accurate, and user-friendly for both agents and clients. 

How to integrate AI into your real estate business

Integrating AI into your real estate business can revolutionize your internal operations, significantly increasing efficiency across the board.

The first crucial step is identifying the right AI tools that align with your business needs. Take a step back and ask yourself what would make your process a little smoother or simpler. For example:

• Are you overwhelmed with requests for showings in your inbox?
  Research an automatic scheduling tool that can connect directly to your calendar so you can get those showings on the books ASAP.
• Does your social media strategy feel too sporadic?
  Choose a social media planning tool that allows you to batch schedule your posts in advance so it’s one less task you need to do each day. 
• Are you missing out on converting leads because your follow-up isn’t consistent?
  Work with an email automation software that allows you to create pre-set messages that are sent to leads based on where they are in your sales funnel.

Once you’ve selected the appropriate tools, the next phase is implementation. This typically involves setting up the software, integrating it with your existing systems, and fine-tuning the configurations to match your unique workflow.

However, it’s not just about knowing how to use AI tools. You also need to give yourself the time to train and adjust to the technology—this way you can understand how to leverage it properly to enhance the capabilities of your internal team. 

Think about including training sessions, personalized coaching, and online tutorials into your tech onboarding process.

Don’t forget to prioritize data privacy and security when implementing your AI tools. Given the sensitive nature of customer data in the real estate industry, ensure that your AI applications fully comply with all relevant legal and ethical standards. 

Although the prospect of using AI in your real estate business may initially seem overwhelming, with the right tools, training, and careful integration, it can lead to remarkable results. 

How real estate agents can use AI as a competitive edge

Along with improving customer experience, enhancing the decision-making process, and increasing efficiency, AI also offers a competitive edge for agents. 

AI-powered tools and applications can differentiate agencies in the market, attracting more clients and providing more targeted and customized service.

From the property seekers’ perspective, the sheer volume of information and choices can be overwhelming. With software, AI can sift through massive amounts of data to offer personalized recommendations based on consumer behavior, preferences, and search history. 

This filters through to real estate agents by providing them with data-driven insights. By analyzing those consumer behaviors along with market trends and property values, AI gives agents hard data to work from—no longer needing to rely solely on intuition.

Agents who are ready to harness these tools will be better equipped to serve their clients and make more impactful decisions, all while staying ahead of the competition.

The future of AI in real estate

AI in real estate is no longer a luxury; it’s a necessity. It’s transforming the industry, enabling businesses to deliver more personalized and efficient services. The infusion of AI in the real estate industry is transforming the landscape by providing it with more opportunities for growth, creativity, and expansion. 

AI’s predictive analytic capabilities will streamline the property search process, allowing potential buyers to make quicker decisions through accurate property valuations. 

AI-driven chatbots will play a defining role in customer service, operating 24/7 to provide immediate responses. At the same time, virtual property tours will be the new norm, allowing clients to explore potential investments from the comfort of their homes.

However, bringing AI into the fold comes with its own set of challenges. The real estate industry must grapple with integrating AI without displacing human expertise and intuition. It also must address privacy concerns around the use of big data and the potential for AI-generated misinformation. 

These issues necessitate a thoughtful approach to AI adoption, balancing the utilization of technology with the protection of customer interests and market integrity. It’s clear that the future of real estate will lie at the intersection of AI and human ingenuity.

Harness the power of AI with Luxury Presence

AI is a powerful tool that can supercharge your business with its ever-evolving possibilities. As we move into a future increasingly influenced by digital technology, embracing AI is not just an option for real estate professionals; it’s a must. 

Don’t get left behind—embrace AI, explore its capabilities, and watch as your business reaches new heights. 

At Luxury Presence, we’re ready to help you navigate this exciting new chapter in real estate. Book a free strategy session with us and let’s explore together how AI can transform your real estate business.

With the increased adoption of Artificial Intelligence (AI) in the real estate space, technology has become one of the best tools in an agent’s arsenal, saving time and leveraging data for better results.

In this comprehensive guide, we’ll explore 10 powerful AI tools that can help you work smarter and close more deals. These tools go beyond basic automation and offer advanced features like predictive analytics, virtual home tours, content and media creation, and more. 

By harnessing the power of these AI tools within your business, you can make smart moves toward long-term success in the industry. AI can provide you with the competitive edge you need to stay ahead of the game and thrive in a rapidly changing market.

So, if you’re ready to deep dive into how AI technology can transform your business, keep reading and discover the powerful tools available at your disposal. 

1. ChatGPT

You’ve probably heard of this one—ChatGPT is a versatile, conversational assistant that boasts features like advanced language comprehension and text generation. This makes it perfect for tasks like drafting emails or developing marketing content. 

• How agents can use it: ChatGPT can generate well-articulated property descriptions and responses to client queries. It can also assist in formulating business plans and conducting market research, serving as a strategic thinking partner.
• Pros: Along with saving time drafting emails and descriptions, more advanced versions—like ChatGPT-4—are being released. These versions offer plugins for enhanced functionality.
• Cons: While it can help with research, it’s not intended to replace expert advice nor can it guarantee completely reliable results. So, in those use cases, be sure to double-check the sources. 
• Cost: There’s a free tier available, while a premium plan is $20/month (which includes those plugin capabilities).

2. Opus 

Opus can save you hours by instantly transforming your long-form videos into bite-sized clips that are perfect for social media. 

• How agents can use it: If you’re a real estate agent looking to maximize your online presence without spending hours on video content, Opus may be a great fit. The tool also customizes subtitles, fonts, colors, and even adds your logo, which helps you maintain a consistent brand presence across platforms.
• Pros: Perhaps the biggest selling point is the built-in SEO ranking feature, which enhances your content’s discoverability. It provides a score (e.g., 90/100) along with a compelling social description, increasing your chances of being found by potential clients.
• Cons: There could be a learning curve for those not tech-savvy with video content and there are limited customization options. 
• Cost: There are multiple tiers available including a free option, a $19/month plan, and an option at $114/year, which includes more premium capabilities.

3. Presence Copilot  

Imagine having an assistant in your pocket, helping you stay organized, close deals quickly, and leave a lasting impression on buyers and sellers. Experience the future of real estate sales with Presence Copilot, your AI-powered ally for delivering excellent client experiences. 

• How agents can use it: An AI-powered mobile assistant can organize your tasks, appointments, and client information, making your day-to-day operations easier. The client collaboration feature accelerates deal closures by enhancing communication and providing instant access to essential documents. 
• Pros: The intelligence of this platform is drawn from the insights of top-performing agents and the fastest-growing digital platform for real estate.  Plus, the agent-branded consumer app ensures a seamless and impressive buyer-seller experience.
• Cons: This app doesn’t go fully live until January 2024 and is currently waitlist-only for the beta version.
• Cost: TBA once it’s officially available for purchase, but to get access to the private beta version, you can join the waitlist today. 

4. Beautiful.AI

In a competitive industry like real estate, Beautiful.AI can give you the edge you need to impress clients and close deals with a tool that elevates your presentations. 

• How agents can use it: Beautiful.AI offers a suite of dynamic, easy-to-use templates that transform data into compelling visual narratives—perfect for showcasing properties, market trends, and more.
• Pros: Navigating the interface is intuitive, allowing you to create stunning presentations in minutes. With Beautiful.AI, you can drag and drop images, adjust layouts instantly, and let smart technology take care of element alignment and color coordination.
• Cons: It requires an internet connection, and while it has a wealth of templates, customization options can be limited compared to traditional presentation software.
• Cost: They offer a free trial for new users, then different tiers from $12/month (billed annually) to $40/user/month (billed annually). They also offer an ad hoc option if you’re looking to use Beautiful.AI for one presentation, available for $45.

5. Canva 

For real estate agents, marketing materials are key to creating a strong, lasting impression on potential clients. Canva can be your secret weapon by saving you time, maintaining brand consistency, and enhancing the overall quality of your visual content.

• How agents can use it: With Canva’s AI-powered design tools, you can create engaging property listings, brochures, and social media posts that stand out from the crowd. The smart resizing tool allows you to quickly create collateral in multiple formats without starting from scratch.
• Pros: These tools are highly effective, offering features like color palette generation, font pairing, and easy image uploading. 
• Cons: Canva does require a design learning curve and some investment in time upfront.
• Cost: There is a free version available. To unlock the power of the AI tools, you’ll need to pay for Canva Pro, priced at $119.99/year for one person. They also offer a Teams tier, priced at $300/year total for the first 5 team members. 

6. Virtual Staging AI 

Virtual Staging AI is a powerhouse for real estate agents because it offers an innovative way to stage properties digitally, showcasing their potential in a compelling environment.

• How agents can use it: Virtual Staging AI includes high-quality, hyper-realistic staging that can be modified according to the potential buyer’s preferences. Agents can utilize this tool to virtually furnish homes, enhancing their appeal and reducing the time properties spend on the market.
• Pros: The advantages are clear: cost-efficiency, flexibility, and the ability to cater to a diverse range of tastes, while providing convenience. 
• Cons: Virtual staging doesn’t replace the tangible experience of walking through a fully staged home.
• Cost: Virtual Staging AI offers multiple tiers, from $15 to $35 to $149 per month. They also offer a pay-as-you-go option at $3/image. 

7. DALL-E 2 

At its core, DALL-E 2 is an AI tool that generates unique images from textual descriptions, streamlining visual content creation. Think of it as your in-house graphic designer, capable of creating anything from a simple house sketch to a detailed neighborhood map.

• How agents can use it: This tool can be used to create eye-catching promotional materials or even generate visualizations of properties that are still under construction. 
• Pros: By offering prospective buyers a glimpse of what’s to come, you’re able to pique their interest and potentially seal the deal sooner.
• Cons: While it excels at creating unique images, they are static and can’t replace the immersive experience of a virtual tour.
• Cost: DALL-E 2 offers pricing upon request, based on only paying for what you use. 

8. rezora 

rezora aims to supercharge email marketing campaigns and potentially increase engagement and conversions. By leveraging the power of OpenAI’s ChatGPT, this tool provides agents with prompt-driven AI capabilities.

• How agents can use it: rezora’s AI-driven content suggestions, smart automation, and email customization help agents create engaging, personalized, and effective email campaigns. Simply input your preferences and watch as the AI generates attractive campaign content tailored to your audience.
• Pros: rezora saves time, reduces the likelihood of errors, and, most importantly, enhances the effectiveness of your email campaigns. 
• Cons: rezora is a tool, not a substitute for a thoughtful email marketing strategy. It’s most effective when used in concert with your existing approach.
• Cost: rezora offers pricing tiers based on the specific campaign features you need. Marketing automation and drip campaign pricing starts at $15/month while lead nurture pricing is $30/month.

9. Xembly

Xembly revolutionizes productivity—a necessity in the fast-paced real estate industry where every minute counts. Nicknamed the “AI Chief of Staff,” Xembly optimizes your schedule, organizes your meetings, and even summarizes your interactions, all in real-time.

• How agents can use it: Whether it’s arranging viewings, setting up client meetings, or coordinating team catch-ups, Xembly handles it all with precision and ease. With the added benefit of calendar management, you can say goodbye to double-bookings and any last-minute schedule scrambles.
• Pros: The user-friendly interface and excellent customer support make it a breeze to implement into your tech stack. Even Luxury Presence’s own COO Phi Vo says that Xembly is a “game changer.”
• Cons: Xembly may not be compatible with some tech stacks and does have a bit of a learning curve. 
• Cost: Pricing is only available upon request. 

Future-proof your business with Luxury Presence

As you navigate the competitive waters of the real estate industry, utilizing AI can be the propelling force that drives you toward success. With tools like ChatGPT, Opus, and our very own Presence Copilot, the future of real estate is not only promising but also exciting. 

While these tools come with their own sets of challenges and costs, the benefits they bring in terms of efficiency and customer engagement are immeasurable. Embrace and harness the power of AI to work smarter, build your business, and close more deals. 

If you’re ready to join this revolution, get on the waitlist for our upcoming app or schedule a free strategy call with our team. We’re here to help you transform your business with the power of AI.

What attracted you to the field of technology and what brought you to Luxury Presence?

I’ve loved technology since I was young and have been building websites since the 7th grade. In 2013, I cofounded BuildingConnected, a network for the commercial construction industry. I was CTO and helped grow the company to about 220 people. It was a great experience and I learned a ton about technology, leading, and the construction space. In 2019 we sold to Autodesk, where I managed a 500-person global team focused on anything and everything related to data. I learned a lot more about the broader built environment, as well as leading at scale, but I also knew that my passion was in startups. 

When Luxury Presence came knocking, I loved what they were doing. I was excited to extend the knowledge I had in both the construction space and the broader built-in space to PropTech and the real estate industry. My wife’s entire family is in residential real estate, so I have a lot of emotional connections to this space as well.

How do you steer Luxury Presence’s technological direction?

I inherited a very strong technical foundation with this role. We had great people in place, and great technology, products, and processes. This lets me focus on what I think is arguably most important for a technical leader in this type of environment, which is ensuring that our engineers are constantly working in tandem with our product and design counterparts. 

We operate in these trifectas at every level of our organization: someone who represents product, someone who represents engineering, and someone who represents design. We have this on our executive team and at every level, all the way down to our individual Scrum Teams. I’m very fortunate to work with some incredible product minds and designers, some of the best I’ve ever worked with. My most important role is making sure that all facets of that trifecta are operating as well as possible at all times.

How is AI transforming the real estate industry? What are some key trends you’re observing?

One thing we’re seeing is the potential to put more powerful data and insights right at the fingertips of agents when they’re in the field and when they’re in conversation with a customer or a lead. You’re seeing this flow of information pushing its way to agents faster than we’ve ever seen. 

In terms of trends, I think there’s a pretty gross misrepresentation and perhaps even misunderstanding of what AI is and what’s just another feature that uses some basic math under the hood. The reality is many of these “AI products” are not actually using AI. So the word of caution for the industry is to not get swept up in the hype. 

Instead, continue to ask yourself, “What is going to make me a better agent? What is going to give me that competitive advantage when I’m out in the field?”

What excites you most about the potential of AI in this sector?

First, is efficiency. AI is going to be able to replace and automate mundane, repetitive tasks and perhaps do them better than an agent would want to do themselves. This will give agents time back. Some agents are going to use that time to chase more deals and make more money. It’s also going to unlock more time for agents and their families. If AI can get you home to your kids 15 or 30 minutes faster every day, that’s a win all around. 

I also think AI is going to create better experiences for consumers, because it will allow agents to respond in a more timely and personalized manner, meeting a lead where they’re at. 

Finally, I believe that AI is going to make the playing field more equitable for agents. A lot of these models are open source or are coming from companies like OpenAI that everyone can use. What I really appreciate about this wave of innovation is that agents everywhere are going to be able to access the benefits of AI.

What are some recent innovations in AI that have caught your attention and how can they be applied to real estate?

I’m quite bullish on VR and AR experiences. I think the upcoming Apple Vision Pro is going to set a new standard for what those experiences might look like. A lot of people assume this will mean better tours and open houses through VR, and I do think that will happen, but there’s actually a more nuanced use case that I think is going to be a lot more valuable.

Very rarely when you’re looking at a house does it meet all of your perfect specifications—but you can almost always get it there with some creativity. I think you’re going to be able to put on one of these headsets, look at a floor plan or photos, and say, “I’d like a bathroom off of the primary bedroom” and it will show you, in real-time, examples of how you can make that happen. This is going to open up home purchasers’ minds to what they can do with the house that they’re looking at.

How is Luxury Presence currently leveraging AI? How are these innovations improving the client experience and helping clients grow their businesses?

A great example is one of the major features we’re releasing with Presence Copilot, AI voice notes. The use case is this: an agent is driving to their next listing and gets a phone call from a buyer lead. The lead tells the agent what they’re looking for and then the call ends. Today, an agent might pull over and jot down a couple of quick notes if they can, or they might do their best to remember the details when they get home that night. 

With AI voice notes, an agent can just tap open the Presence Copilot app, record a voice note, summarize the entire conversation while they’re still driving, and be done in seconds. Our AI can now take that quick voice note and extract all of the rich data: who the client is, how many bedrooms and baths they’re looking for, etc. We’ve completely eliminated data entry for the agent.

And taking it a step further, we can pump that information directly into the agent’s CRM and actually set up a saved search for the client. An exercise that used to take an agent maybe 15, 20, or even 30 minutes is now done in a matter of 15 seconds. It’s going to save agents a ton of time and give their lead personalization and responsiveness faster than they’ve ever experienced before.

What other AI technologies or features is Luxury Presence planning to introduce?

We’re infusing AI into almost every part of our product service area right now. I’ll give you a small example of how we’re leveraging AI even behind the scenes. We ingest over 350 different MLS feeds from across the country. Anyone who’s ever dealt with MLS data knows that it comes in very different shapes, sizes, and formats. The vocabulary one person might use to refer to a pool in Tennessee can be very different from how someone talks about a pool in Los Angeles. So, one of the ways that we’ve found AI very useful is to help normalize that data and create a more consistent experience across all of our customer’s MLS data. 

AI is a rapidly advancing field. How does your team stay ahead of the curve and ensure that Luxury Presence is always offering the latest innovations to clients?

As leadership, we realized we had to promote the use of AI internally and let our team know that it’s not only okay but actually encouraged to use these tools. For example, I’d use ChatGPT when writing an email to the team and would add a note at the bottom that said “This email was composed with the help of ChatGPT.”  For All Hands slides, I’d show images and the prompts I used in Midjourney to generate them. As leaders in a rapidly emerging field, you have to create that safety for your team and encourage them to adopt this new technology. 

The biggest thing we’ve done to really push our employees to adopt AI is our internal hackathons. We take all of our engineers, data analysts, designers, and product managers, and say for one week, you can create anything you want that you think will be valuable for our clients. The only rule is you have to use AI to do so. Some of our best new features were born out of these hackathons, like the AI voice notes I mentioned earlier. When you take a hundred people who are bright and driven and you release some of the constraints of the normal development cycle and add in AI, some really, really cool ideas are born.

How can real estate agents harness the power of AI to improve their businesses?

The most important thing they can do right now is to look at opportunities to offload the repetitive and mundane daily or weekly tasks that aren’t unique to their businesses and don’t give them a competitive advantage. Taking these tasks off your plate gives you more time to be more creative, to think about how you can separate yourself in the market, to work a lead that much harder, and to get back to your family sooner. 

What advice would you give to agents who are considering integrating AI into their workflow but might be hesitant or unsure where to start?

Go into your email and find a message from a really disgruntled lead. Grab that email, copy it, and paste it into ChatGPT with this prompt:

The following email is from a disgruntled lead. Compose a reply that ensures the lead knows I am on their side and that we are going to work together to make this happen. 

Hit enter and see what it comes up with. I think you’ll be blown away at how good these AI models have gotten at understanding the context of an email and replying in a way that gets your message across. It’s a great way to dip your toes into the water and it resonates because everyone’s had one of these experiences, right? 

Every agent has dealt with someone who’s just an absolute nightmare to work with, who’s sent a nasty email on a Friday night at 6 pm. When you think your work week’s over and you don’t know how to respond, let AI take a crack at doing that for you.

***

Interested in harnessing the power of AI to improve your efficiency and level up your business? Sign up for the Presence Copilot waitlist or book a strategy call with our team.