Brokers instructed Intel that synthetic intelligence has “significantly” boosted their productiveness — whereas others reported much less promising outcomes. See what instruments they’re utilizing that different brokers will not be.
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The more and more widespread adoption of synthetic intelligence instruments in actual property has made brokers extra productive — though the distinction for many has been modest up to now.
However a smaller group of AI energy customers stories that they’ve already seen a “significant” bump in productiveness, in response to the most recent Inman Intel Index outcomes.
How far more productive do you assume AI instruments have made you in your work over the previous yr?
Considerably extra productive — 11%
Barely extra productive — 46%
No distinction — 25%
Barely much less productive — 1%
Considerably much less productive — 0.4%
I don’t use AI instruments for enterprise — 17%
On this December survey, a whole lot of actual property brokers make clear a brokerage world that has more and more embraced AI for duties like writing property descriptions or advertising and marketing supplies — with effectively over half of survey respondents reporting they recurrently use these instruments for textual content technology.
However the outcomes additionally revealed extra under-the-radar AI instruments that some brokers say have considerably upped their productiveness.
Take a look at the most recent tech favored by energy customers within the full report.
AI within the brokerage world
For effectively over a yr, actual property professionals have explored the makes use of of AI to streamline duties like writing property descriptions or social media posts.
By late December, these two makes use of had turn into essentially the most widespread purposes of AI in actual property, brokers instructed Intel.
For which of the next duties, if any, do you recurrently use AI instruments in what you are promoting? Choose all that apply.
Producing textual content for property descriptions — 59%
Producing textual content for social media or advertising and marketing supplies — 48%
Producing evaluation or summaries of market information — 18%
Producing photos for social media or advertising and marketing supplies — 12%
Enhancing itemizing pictures with a digital-staging software program — 11%
Managing leads or duties in your database — 10%
Enhancing photos for social media or advertising and marketing supplies — 10%
Automating direct communication with shoppers, equivalent to with a chatbot or different automated communication device — 9%
Summarizing contracts or different enterprise paperwork — 8%
Producing video for social media or advertising and marketing supplies — 7%
Producing contracts or different enterprise paperwork — 6%
Pulling information from property pictures utilizing image-analysis software program — 3%
I don’t use AI for any of the duties above frequently — 30%
Most brokers instructed Intel they have been utilizing their very own most well-liked AI instruments.
A smaller group — about 1 in 3 agent respondents — mentioned they both relied totally on AI instruments that their brokerage supplied, or used about an equal combine of their work.
However the outcomes present some ongoing mistrust towards instruments like ChatGPT, that are recognized to “hallucinate” information and make errors that need to be checked by people.
Right here’s the place brokers got here down on the trustworthiness of AI.
If you use a generative AI service — equivalent to ChatGPT or the same device — to generate textual content that should be factually correct, or to reply a factual query, how would you describe the extent of belief you might have within the outcomes?
I’ve a excessive diploma of confidence that the textual content generated by AI instruments is correct — 6%
I belief that the AI outcomes are often correct, however I count on that in uncommon circumstances it is going to produce factual errors — 34%
Generative AI is sweet sufficient to be helpful, however I count on that it’ll incessantly produce factual errors — 42%
I view textual content generated by AI as essentially untrustworthy — 18%
With these phrases of warning in thoughts, some brokers have discovered areas the place AI instruments have supplied an enormous enhance to their self-reported productiveness.
What an AI energy consumer seems to be like
For Intel’s functions, we’re defining an AI energy consumer as an agent who mentioned that AI instruments have made them “significantly” extra productive.
This group is a small slice of the general agent inhabitants — representing 29 complete brokers in the latest survey — and their responses because of this ought to be taken with a grain of salt.
That mentioned, a couple of key variations did stand out of their responses to Intel.
Listed below are the 5 areas the place the AI energy consumer group seemed most totally different from the broader inhabitants of brokers.
For which of the next duties, if any, do you recurrently use AI instruments in what you are promoting? Choose all that apply.
Summarizing contracts or different enterprise paperwork — 35% of energy customers, vs. 8% of all brokers
Producing contracts or different enterprise paperwork — 24% of energy customers, vs. 6% of all brokers
Producing video for social media or advertising and marketing supplies — 28% of energy customers, vs. 7% of all brokers
Automating direct communication with shoppers, equivalent to with a chatbot or different automated communication device — 24% of energy customers, vs. 9% of all brokers
Producing evaluation or summaries of market information — 45% of energy customers, vs. 18% of all brokers
Given the delicate nature of contracts and direct communication with shoppers, it’s not laborious to think about why many actual property professionals have been reluctant to use AI to those areas of their enterprise.
But when that AI belief hole can ever be addressed — an enormous “if” in an business the place every transaction is that this essential, and this complicated — these lesser-used capabilities may finally present a significant enhance to agent productiveness.
E mail Daniel Houston
