Top 20 AI-Enabled Real Estate Startups in 2021
In an increasingly virtual world, real estate may appear to be the only concrete thing remaining, but it, too, is being taken over by artificial intelligence. AI is increasingly being used by real estate start-ups to assist customers to find the appropriate financing and home. It may already be a game-changer for real estate brokers.
The majority of real estate information is open to the public, including property records, title documents, purchase prices, and even mortgage liens. The problem was that going to local offices and obtaining all of the information was a time-consuming operation. Not anymore, Computer algorithms can now search through millions of papers in seconds, looking for property values, debt levels, home upgrades, and even some personal information about a homeowner.
With all eyes on AI, it’s evident that this technology will significantly impact the future of real estate. Here are some of the ways AI is already influencing the real estate business and will continue to do so in the future:
- Improve the Home Search for Clients — AI-based algorithms aid in the discovery of the ideal attributes for each (portal) viewer.
- Identify Strong Client Leads for Agents — AI is also a useful tool for assisting agents in identifying their ideal clients. In the future, an agent might use the brokerage’s CRM to call a robot to make client appointments over the phone in any language, or they might run into a bilingual robot during an open house.
- Remove the Bias from Agent Recruiting — By giving a detailed study of a market and indicating where current demand is strongest, underserved, and likely to expand, AI gives brokers an advantage in the recruitment process.
- Refine the Transaction Process — AI eliminates human data entry and errors by delivering faster closure times, smarter mobile apps, thorough compliance checks, detailed reporting, and auto fillable data.
- Predict Appraisals and Market Values — Agents and brokers may be able to better anticipate the future worth of a home in a given market using AI technology. For example, the system might combine data from a range of sources, such as transportation, local crime, schools, and market activities.
A growing number of AI-enabled Real Estate Startups are joining the club and a few of them that are worth keeping an eye on:
- GeoPhy uses data science to provide the real estate industry with an objective understanding of value.
- LocateAI is using geospatial data and machine learning to transform the antiquated, $4T real estate industry.
- Auctm is a business management platform that provides data science to offer actionable insights for the real estate sector.
- Engrain is a prop-tech startup known for touch screen kiosks, interactive mapping, and data visualization products.
With the rise of digitization, AI in the real estate industry is unavoidable. AI algorithms can uncover market opportunities for agents to secure more consumers using predictive models. It could assist clients in determining the best time to buy or sell a home. It will assist agents in making better selections and comprehending deals more thoroughly than ever before. If real estate data can provide significant insights, there are numerous options to achieve the best pricing, attract more clients, and complete deals swiftly. AI in real estate is changing the game by processing large amounts of data and will continue to do so in the future.
The blog here captures the topmost promising Real Estate Startups. To read the full blog in detail, visit Top 20 AI-Enabled Real Estate Startups in 2021
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