Digital tools paved the way for VAs
One area where digital tools – especially communication and project management tools – have made a significant impact on Estate Agency worldwide is that they’ve facilitated taking on Virtual Assistants who are able to work remotely and fulfil a broad range of tasks. They allow VAs to manage important yet time-consuming day-to-day tasks to free up Agents’ valuable time so they can focus on mission-critical priorities, like selling property and growing the business.
AI is paving the way for increasing sales while saving time and money
While digital tools have been used increasingly since the mid-1990s, it was only in 2023 that AI truly went mainstream. Today, if Estate Agents want to stay keep up with competitors, AI is no longer a nice-to-have. It is essential for speed and accuracy in gaining industry and market insights through data manipulation. It is pivotal for seamless, personalised client interaction. It is a strategic imperative for staying cutting edge by wowing sellers with bespoke property videos that impactfully market their property – or moving the dial on sales by offering incredibly life-like virtual property walk-throughs.
It is important to remember, though, that AI is a tool. It’s only as effective as the people who wield it. It’s not a replacement for human originality.
AI is a very powerful tool in the hands of a tech savvy Virtual Assistant
Estate Agency will always be a ‘people industry’. In both the sales and letting sectors, providing a top quality, personalised service relies heavily on human expertise, insights, and emotional intelligence. However, in the hands of a skilled and experienced Virtual Assistant, AI tools will allow your VA to be more productive and efficient than when they use conventional tools. Not only will their turn-around time be faster, their job description will expand as AI allows them to automate routine tasks, produce valuable information and reports, generate more leads, better identify and reach your target audience – and then use sophisticated AI-enhanced marketing campaigns to nurture them and turn prospects into clients.
Here are 3 very practical ways that AI will revolutionise UK Estate Agencies:
- CRM as more than just an information archive
Traditionally, Estate Agents have relied on manually managing client data, tracking interactions and nurturing leads. CRM systems hold a wealth of valuable information that AI can mine way faster than traditional software can. For example, AI can analyse the data stored in CRMs to build comprehensive customer profiles that identify their needs, preferences and even behavioural patterns. This enables estate agents to provide more personalised and targeted services.
- Accurate and timely property valuations
AI is improving the accuracy and speed in which estate agents can valuate properties and analyse market trends. Traditionally, preparing an accurate property valuation involved manual comparisons of equivalent properties in an area, while also factoring the proximity to desirable amenities, like schools and shops, or any shortcomings. Even with an in-depth knowledge of a particular town or suburb, this was a time-consuming process – and susceptible to human error. Today, AI algorithms can quickly sift and analyse massive amounts of data, including property and area characteristics, historical sales data and market trends, to provide more accurate valuations.
- More streamlined letting and property management
AI can automate the tenant screening process by quickly analysing credit scores and rental histories. This can help agents, and their landlord clients, make better informed decisions, reducing the risk of late payments or property damage. AI-driven chatbots can handle routine tenant queries 24/7, responding instantly to common issues, like maintenance requests or lease information. This allows letting agents to manage the people side of managing a property portfolio and provide a personalised service.
AI is certainly here to stay and cannot be ignored as a tool to increase efficiency and reduce operational costs. And, according to IBM: “We’re at an exciting time in the history of customer service where organizations can experiment with these new tools and build a path towards a world where AI is the copilot for every customer interaction… While [people] will continue to be an integral part of any customer service interaction, the use of new technologies is quickly becoming a competitive advantage.”
Click here to read our blog, AI Trends in the Property Industry – Staying Ahead in 2024.
( https://vacentral.co.uk/ai-trends-in-the-property-industry-staying-ahead-in-2024/ )