Advantages of AI in order to apply them in your real estate business
The artificial intelligence (AI) is attracting, in these last few months, the paradigm of a technological revolution. Any company that is related to this field of the algorithms you want to stay behind. The chatbot GPT, composed by the engineers of OpenAI, has been disseminated in the media and is the main topic of conversation in the urban flow, universities, and tables of directories because of the controversies that awakens; therefore, this topic because it is not anyone indifferent. We can build on the paradigm of the benefits of Midjourney, a tool that serves to delineate images and pleasure of any kind. And the list goes on, apparently, without stopping.
The automation of many processes that lead to repetitive tasks and characterized by his medium-complexity now be solved in a blink of an eye. And these operations, even though you do not tolerate it, are also applied to the real estate businesses. The AI in real estate offers many advantages to magnify your venture. Read the article and write down this information will be useful in the event that this item is of your interest.
Among the facilities that gives us the AI within the real estate sector, we highlight the predictive analysis. What's important is to get a data base for placing a magnifier digital, and observe changes in supply and demand of real estate. In this way, we will affirm our steps on fertile land, which will allow us to know the exact moments on when to buy or sell a property and reduce risks. If investors needed to historically an endorsement that will help them to decide their future in the business, the models for prediction came to saturate them of algorithms ready for your interpretation.
Another facility of the AI is that it gives us an accurate search of the images of the properties through a scan. The investor no longer has to go to the place where is located the building, and from long distances, you can communicate your proposal. Of course, the detailed analysis of the property, on the part of the tool, it is usually more accurate than the human eye. So, the shopping experience of the customer will be more accurate and reliable. Even, the chatbots powered by artificial intelligence are able to provide real-time support to customers, answering frequently asked questions —in the style of the manuals, but at a higher level— to provide information on properties and schedule virtual tours —international museums already offer them in the network— as if they were a custom wizard willing to collaborate in the time that is, and at any instant.
Additional to this, the AI automates administrative tasks in the real estate sector, such as management contracts, verification of documents and payment tracking. This saves time and resources, two indispensable values. Consequently, practitioners of this field to focus more on strategic activities and will use it to better your work day.
What is perhaps most surprising is that this technology evaluates risks associated with real estate transactions, as the credit history of your buyers —its delinquency rate— the ability to pay and the probability of default. The customer profile will be complete and mathematics will play in favor of the investor, without the fear of making a mistake or getting bogged down in questions. And not only that: the AI may also collect unstructured data. In other words, it acts as a spy of comments on social networks, online reviews and other sources of public information to assess the feelings and reputation of the buyers or tenants. What causes histories additional about the reliability and the behavior of payment of the persons involved. However, we must not forget that what is thrown by the algorithms never despised fully human interpretation. The results need not be absolute and irrefutable.
Erik Brynjolfsson, a professor at the Massachusetts Institute of Technology (MIT), and author of the book “The revolution of artificial intelligence,” says: “If you take an important decision, and the sockets in a significant amount of data, the algorithm will always win the trial of a person”. Although the expert is a voice laureate within the industry, it is arrogant to think that the information cold of an artificial intelligence for real estate is going to proclaim himself always as a stand alone or detached from the people.
Displays of data to begin with the experience: the advantages of the AI in order to apply them in your real estate business
There are several tools of artificial intelligence to real estate, specializing in data visualization, which can be useful for the sector and its components. Below, we will mention some of the best options available for the sole purpose of giving you advantages:
- Tableau. It is a platform of cutting edge in the field of the visual representation of data, which provides reporting and analysis of large scope. Makes it easier to experts in the real estate sector in the creation of interactive visualizations and custom dashboards to solve information on properties, market trends, prices, locations, and other aspects.
- Google Data Studio. It is a free tool for data visualization, that allows real estate professionals to create reports and interactive dashboards using different sources, such as spreadsheets, databases, and services in the cloud. It is easy to use and offers integration with other tools, such as Google Analytics.
- Power BI: Developed by Microsoft, is another popular tool for data visualization. Da letter free real estate professionals to create dynamic reports, interactive dashboards and control panels. Analyzes data related to sales, rents, revenues, costs, and other aspects.
- D3.js. This is a library of data visualization in JavaScript (mild language programming). Provides a full range of visual resources, such as charts and interactive maps. The highlight of D3.js is its high degree of customization, which allows users to adjust the graphics to fit perfectly to your data and specific requirements.
- QlikView and Qlik Sense. They are platforms for data visualization, developed by Qlik, founded in 1993, in Sweden, and now has its headquarters in Pennsylvania, united States. These tools allow real estate professionals to explore and visualize large sets of data in an intuitive way, identify trends, perform performance analysis and create visualizations customized.
- Looker. American company computer software acquired by Google in 2019. Supports real estate professionals in the exploration of real-time data, create visualizations, custom, and share interactive reports with other users.
Another advantage of the AI to apply it in your real estate business: the reforms virtual properties
Artificial intelligences are starting to play an increasingly important role in the realization of reforms virtual homes. Although they still are at times embryonic, there are some promising applications in this field. Among the advantages of the AI in order to apply them in your real estate business, this helps us to create descriptions at the foot of photos, as a source of search engine optimization for Google and other internet search engines. Below, are some ways in which AI contribute:
- Rendering. The AI can help generate virtual representations and realistic of how it would look like a home after a reform. Who would not want to enjoy this way of looking at what can be a reality? Using algorithms and techniques of 3D modeling, the AI can process images and data of the existing house to create a virtual representation of a high quality that show the proposed changes, such as new designs for interiors, distribution of spaces, materials and finishes. The perfect solution to our questions!
- Design recommendations. The AI identified the preferences of the customer's design, as well as the current trends, and provide design recommendations personalized to the reform of the housing. The AI will suggest combinations of colors — oh, what seizes our indecisiveness! —, styles of furniture, coating materials and other design elements to improve the aesthetics and functionality of the space.
- Simulation of structural changes. There is still more. The AI can help to simulate and evaluate structural changes in a home. For example, if you want to bring down a wall to create a patio or meeting room, the AI uses data and structural engineering models to simulate the effects of the demolition and to provide information on how it would affect the integrity of the structure. The safety of the construction will require, little by little, the look of this technology.
- Estimation of costs and budgets. The use of AI in real estate proliferará by the quantity and quality of historical data and market analysis collected to estimate the costs associated with the reform of a house. When considering factors such as the materials, the workmanship and the geographic location, the artificial intelligence for real estate guidance to property owners and professionals to get a more precise idea of the budget required for the reform. You don't have to break your head, and take out the calculator. You will have the time and will take care of your mental health (yes, to those extremes).
- Advice to the order of the day. The AI can offer advice in real-time during the reform process virtual. They can answer questions, provide suggestions and offer solutions as users interact with the tool.
Although these applications of artificial intelligence (AI) in real estate are in development and are continuously refined, have the potential to transform the way in which you planned and visualized the housing reform in the field concerned. Due to the in-depth access to a better understanding and representation of the proposed changes, the AI will give a hand to the owners, buyers, and professionals of this field with the aim to make more informed decisions and reduce the associated risks. Now you know the advantages of the AI in order to apply them in your real estate business. Let's put the batteries!
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