X.AI: A Personal Assistant Who Books Meetings For You

Real Estate Artificial Intelligence

Artifical Intelligence (A.I.) For Real Estate Agents

Amy, your personal and intelligent real estate assistant, is here, and she is ready to help free up your valuable time. Don't worry, you don't have to go through the hiring process, nor do you have to worry about the financial burden of taking on a real estate assistant. That is because Amy is powered by artificial intelligence. 

Your personal real estate assistant Amy (or Andrew), is powered by cutting edge technology mixed with the human connection required for real estate agents. 

The company X.AI has created a digital assistant for anyone who books meetings and doesn't have time for the song and dance between times, locations, meals/drinks/coffee, and the list goes on. 

AI Real Estate

As real estate agents, we are continually going back and forth with clients and potential clients on meeting times, catching up over lunch, and evening showings. We can spend a large chunk of time setting up meeting times, and Amy takes this time-drain away.  

It works by quickly adding amy@x.ai or andrew@x.ai as a CC, and they will take it from there. The artificial intelligence has an initial understanding of your schedule and books meetings based on your set parameters and preferences. 

AI Real Estate

In working with this program, we found the communication with Amy to seem real and, frankly, conversational. The replies honestly feel like they are coming from a human on the other end. Furthermore, the set up is easy and intuitive. 

Amy at X.AI is an impressive piece of technology that can free up time and cut down on distractions for real estate agents. 

SPOTIO: The Door Knocking Real Estate Agent's Best Friend

 from https://spotio.com/

from https://spotio.com/

Door knocking as a real estate agent can be an amazing means to acquire new leads. Both new and experienced real estate agents can benefit from door knocking as it allows you to be in front of your prospect. As a new real estate agent, you may have time on your side as you are working to expand your database. As an experienced agent, you may be working in a geographical farm area and looking to get face to face with your community.

Although knocking on a door once may lead to a potential sale, usually it will take several follow-ups to build a relationship with the client. If you want to truly have the best shot at door knocking, you should be returning to the homes that showed some level of interest while eliminating those that made it clear they have no interest whatsoever. However, as you are working your way up and down the streets of a community, how are you staying organized and keeping track of the homes you visited? How are you indicating which home owners were pleasant and worth returning to and which properties had very unwelcoming occupants?

Meet the iPhone and Android app SPOTIO. SPOTIO is a powerful yet easy to use app that tracks your door knocking and canvassing. With the power of location tracking, the app notes which house you are at so you can simply mark the interest level of that property. If the door gets slammed in your face you can mark them as “Not Interested”. Did the person show some interest but is not comfortable providing you with their contact info? No problem! Come back the next month with some further items of value.

SPOTIO also provides users with the option of selecting and organizing territory areas and importing your current data.

Door knocking and real estate go together like PB+J, so it’s about time there is a digital tool to help you stay organized!

 from https://spotio.com/

from https://spotio.com/

Chatbots in Real Estate

Are chatbots going to take over the real estate industry? There has been an immense amount of discussion around chatbots and their effectiveness in real estate. 

 Chatbots in Real Estate

Chatbots in Real Estate

So what are chatbots? Chatbots are artificial intelligence programs that you interact with, usually in a live format. For example, you are on a webpage and wish to start a discussion right away, or you have a question. You simply open up the messenger interface and ask away. Depending on the bot, it will answer your questions, book an appointment, and/or carry out small tasks. The reason for the excitement stems from the ability of the bot to convert website lookers into appointments without you monitoring the chat. Also, through machine learning, the bot becomes more refined with its answers over time, thereby providing more accurate responses. 

There are different viewpoints on bringing chatbots into the real estate industry, and we will unpack the pros and cons below. Of most importance, we must be aware of chatbots and understand how they can impact our industry. 

Chatbot Real Estate

Pro Viewpoints:

  • Real estate agents are busy people. Sitting at your computer monitoring your chat is not realistic in this career. You may opt to have an assistant interacting on your chat, but what happens when the inquiry comes in at 11 at night or who operates the chat when your assistant is at lunch? Chatbots are instantaneous which is required in today's culture. Should we not interact with the buyer at that moment, they will likely go to another website and ask the question there. 
  • As mentioned above, they can actually convert leads. This is a powerful element of chatbots because there has not been a time in the past where a machine could interact with the lead and set an appointment.
  • Chatbots are super scaleable. The machine could be having a number of conversations at one time. Appointments can be being set all at the same time - basically, being in more than one place at a time!
  • Machine learning opens doors that we still can't imagine. As the chatbot interacts with the client, it learns. Now, this may sound like scary science fiction, but consider how we all type and speak differently, the bot will learn both "5 bdrm house" and "Five Bedroom house".  

Con Viewpoints:

  • They are in their infancy making them cumbersome to build out and potentially quite expensive. We are already starting to see some companies come up that will build these out for you, so it is just a matter of time before they become more cost effective. 
  • The buyer wants a real person and may be turned off by a bot. Personally, I believe this to be the greatest concern. There may be a value imbalance as the agent finds the bot much more useful than the client feels there is use in the bot. The main question is does this take value away from the client? If the consumer does respond in this light, it's important to monitor this as we are in an industry that should be devoted to customer value. 
  • Finally, and a comment that is all too common - aren't bots making our roles obsolete? The argument here is the bots are taking the place of a person, so what will this mean for the real estate agent's job down the road? I reject this notion as your role as an educated real estate agent is not to answer rote questions. The bot does not understand emotions nor is it picking up on body language while you are in a property. The chatbot does replace certain tasks, thereby freeing up your time and headspace to concentrate on clients. Afterall, there was a time when we thought lockboxes were the end to the real estate industry. 

Ultimately, chatbots are coming, and they are already starting to make their mark. I predict in years to come, chatbots will be required and the public continues to demand real time service. We are seeing them used widely in some of the large companies and it is just a matter of time before this will trickle down to small businesses. Although there will always be differing opinions when it comes to new technology in real estate, if the client sees the value then I see the value, however, if the customer feels let down by the bot or they feel it lacks the personal touch, then I would reconsider the approach. 

Trust Stamp: Safety for Real Estate Agents

Trust Stamp was a runner up in Inman's Most Innovative Companies for 2017. This exciting piece of technology has potential to help many industries, but it has some particularly interesting applications for the real estate agent. 

Trust Stamp

What it does:
Trust Stamp pulls from publicly available data such as social media and other online sources to verify that person's identity and give them a "trust score". Based on the technology's research, it will let you know if the individual entered is likely to be trusted or not. 

Why is this fresh/important:
In real estate, we are always meeting new people, and we are entering their homes (and other's homes). Furthermore, real estate agents are highly visible in the community and easily contacted by the public. We have all heard the horror stories of issues arising during a showing/listing appointment with a stretchy person. This technology minimizes the risk of these situations occurring. 

Added benefit:
The client fills out their information, so you can determine right away if they are serious. My thoughts are tire kickers wouldn't bother. Also, the new client is treated as a VIP by entering your VIP network through Trust Stamp. 

The downside:
Similar to many new tech companies' downsides - it is not available in Canada. That said, all good things will make their way up north if we push for it. For the time being, it is a cool new piece of tech to watch. 

Trust Stamp is a fantastic concept for the modern day real estate agent. 

Matterport Pro2 3D Camera

Matterport has been on the leading edge of 3D tours in real estate since they were founded in 2011.  For those that love technology startups, get this, they have received over $61,000,000 in funding! Talk about a backing! 

Matterport has made 3D tours accessible for anyone with a tablet. Pick up their camera and download their app; from there, anyone can shoot a property in 3D. Matterport continued to surpass expectations in the real estate industry when they integrated virtual reality into their capabilities. 

Now meet Matterport Pro2 3D Camera. This brand new camera does the following:
- 3D Tours (now with 4K visuals)
- Virtual Reality Capable
- 3D Measurements and Floor Plans
- Produces Print Ready Photographs

The print ready photos are the big addition from their previous model. Matterport is bridging the gap between the 3D tour and professional photos. This piece of hardware is quickly becoming an all in one solution for real estate professionals that wish to differentiate their listings. 

Reach out to us to learn more about Matterport and the new camera, Pro2 3D Camera. 

Coworking Space - The Future of Office Space

Coworking Space - The Future of Real Estate Brokerages

Sparked by the technology and fueled by the entrepreneurial movement, coworking space is gaining steam in urban centers across the US and Canada. Coworking is an office space that is shared by a mix of businesses and people. There are a variety of structures at these spaces but they all are built around the idea of collaboration. 

There are a number of tech-focused real estate brokerages that are using coworking space as an option for their professionals. The real power of this environment is the ability to consistently connect with other businesses and learn from them while also building a foundation of trust for referrals. 

At Renzo Real Estate we in believe the power of collaboration and we have paired with The Commons Calgary for a group office environment. 

The power of this comes from all sorts of entrepreneurs being under the same roof. In the morning you can work on a CMA and discuss it with your colleagues. In the afternoon you can lean over and chat with a graphic designer, an accountant, a tech startup and many other businesses. 

This is a tremendous source of referrals as you can get to know other business professionals in our community and build relationships with potential buyers and sellers right at the office! 

 

 

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