Agents using AI are 25% more successful than those that don’t.
07 March 2023 5074 Views
2023 has been coined as ‘the year of AI adoption’, and with this technology trickling down to almost every sector, its place within the property industry is the topic on everyone’s mind.
While artificial intelligence has been around for many years, it has become highly accessible in the past year, gaining mass popularity and exposure. AI is helping businesses work smarter by analysing data much more efficiently, driving down the time it takes to complete complex tasks, and helping to make smarter decisions for better results.
In fact, AI has become so refined that it has real potential to transform the way people work and run their businesses - including agents.
In a recent study, the UK’s leading instruction generation, Spectre, found that agents utilising AI as part of their prospecting strategy are 25% more successful in securing instructions than those who didn’t.
So how can you implement AI within your strategy?
The potential to utilise AI within estate agency is vast and this technology has been around in Spectre for some time now. It is giving users the ability to be laser-focused when prospecting potential vendors by instantly identifying properties that are most likely to come to the market.
Spectre’s machine learning model has analysed billions of data points over many years to accurately predict a property’s propensity to sell. Doing this level of research without such intelligent software would be practically impossible, but with AI, it is done instantly. In fact, agents taking advantage of AI are able to optimise their marketing spend, resulting in a 240% increase in their ROI.
The importance of using AI-powered sold-in-your-area campaigns was further exemplified when the same study found that agents who sent these campaigns alongside on-market letters achieved a 67% higher success rate than those who solely sent on-market letters.
Another incredible use case of artificial intelligence is within estate agency marketing. AI copywriting is helping to generate mind-blowing content for all sorts of media, from direct mail and blogs to emails and social posts.
Free of charge for all users, Spectre’s very own AI Content Generator understands the terminology of the property industry and what elements contribute to a successful campaign.
Plus, with the ability to input tone of voice preferences and unique selling points, agents can create personalised and tailored content for each on-market time trigger, all at the click of a button.
Of course, AI isn’t here to replace agents, it’s simply here to help. Sometimes, new innovations come with pitfalls but, as the statistics show us, the benefits of embracing this technology will massively outweigh any associated risk.
AI is only going to get smarter and better with time… and early adopters will reap rewards both now and in the future. So, ask yourself the question: is it time to embrace change and leverage the vast capabilities of AI?