Estate agents set to reap the benefits of artificial intelligence

Estate agents can now harness the power of artificial intelligence to cut costs while improving the service that they provide to clients.

The mobile communications specialist SMS Speedway has created advanced chatbot software, specifically for estate agents, based on open-source artificial intelligence (AI) using models such as ChatGPT.

It is convinced that AI will revolutionise the way agents operate, allowing early adopters to steal a march on competitors.

Bradley Kieser, chief executive of SMS Speedway, said: “These are challenging times for estate agents. Market conditions are difficult and they need to make the most of the people they employ. 

“We can help them do that. AI can save agents a huge amount of time and enhance their interactions with buyers and vendors.”

AI is able to handle queries and provide buyers and sellers with timely and accurate information.

It can automate routine tasks, freeing up staff time. Examples include scheduling viewings and negotiator appointments, chasing up paperwork with solicitors and even conducting virtual property tours.

It can analyse data and feedback following viewings to identify market trends, customer preferences and pricing patterns, making recommendations and providing agents with valuable insights.

Perhaps AI’s greatest advantage is that it allows agents to interact with customers at any time of day or night.

Bradley said: “People looking to buy have jobs and other commitments. Often, the best time for them to contact you is when you’re not in the office. 

“But you can’t afford to let potential buyers walk out of the door. You need to engage with them and that’s where AI really helps.”

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Another strength is handling residential lettings where it is common for agents to be deluged with 100 or more enquiries about a single property.

AI can screen potential tenants, arrange viewings and respond to every enquiry – tasks that would tie up an employee for hours on end.

SMS Speedway, based in Carlisle in Cumbria, has more than 20 years’ experience of working with the property sector. 

The company understands that some estate agents may be cautious about adopting AI so advocates a soft launch.

It works with the agent to create a bespoke product that is thoroughly tested before being rolled out one office at a time or one feature at a time.

To find out more, call SMS Speedway on 01228 217222.