As you might know, artificial intelligence is not something that belongs in the future anymore, it’s already playing a part in the present of many sectors. And, of course, it’s no different in real estate: this technology can already be found in many tools, bringing significant improvements to the daily work of real estate professionals.
CASAFARI, for an instance, uses two different types of AI, for different purposes. The core AI technology used in our products is Machine Learning, in which algorithms are trained on vast datasets of real estate information to identify patterns and relationships. Examples of its use are property matching for deduplication and image recognition.
Another use of AI for real estate found in our products is called Natural Language Processing, a technique used to analyse textual data like property descriptions or market reports, extracting key information and insights.
Let’s see how these different applications of real estate AI can change the way you work for the better and how they are found in CASAFARI’s products.
The benefits of real estate AI
It’s not just technology for the sake of technology: using AI in real estate activities enhances the professionals’ productivity and provides valuable insights that would otherwise be much harder to achieve. Here are some examples how the use of AI for real estate may help to boost your work.
- Increased Efficiency: AI automates time-consuming tasks like data analysis and property valuation, freeing up professionals for more strategic work.
- Improved Accuracy: AI-powered tools analyse data more comprehensively than humans, leading to more accurate valuations, market predictions, and insights.
- Personalised Experience: artificial intelligence is able to tailor property deduplicated results and recommendations to individual user needs, leading to a more efficient and relevant experience.
- Data-Driven Decisions: real estate AI provides real-time and objective insights about the property market, empowering users to make informed decisions based on data rather than intuition.
Sounds familiar? Yes, you’ve probably heard us talking about them all when referring to multiple products of CASAFARI. Let’s explore this in detail.
CASAFARI’s products and the use of AI
Market Analytics
This tool leverages AI to analyse market trends, and assess investment opportunities. Thanks to machine learning models, our Market Analytics is able to analyse real estate data, understanding fluctuations and trends in prices and demand through time.
The result is the best possible: real estate professionals able to identify which properties are diverging from price trends, how are assets distributed in the market, how is the market stock behaving for a certain asset, all of it not only in a hyper-local perspective but also nation-wide.
Property Valuation
This one is quite easy to explain: AI algorithms analyse various property attributes (asking price, location, number of rooms and more), market data (properties recently sold, transactional data, etc.), and comparable listings to generate accurate and data-driven valuations.
Of course this is something that can be – and was – done before by real estate professionals manually, but it took them a whole lot of time and effort. Now, with technology, big volumes of data can be analysed quickly and effortlessly, allowing professionals to provide answers to their clients faster and speed up transactions.
CASAFARI’s Property Valuation report in detail: what you can create with Property Valuation
Property Sourcing
When you’re looking for the right property for your client inside the vast database of CASAFARI, you don’t want to see the same property shown over and over again, right?
This is one of the benefits of our Property Sourcing made possible thanks to using AI in real estate: it identifies property matches, ensuring we show you properties instead of listings. But don’t worry, if you wish to see all the listings of a property, they can all be found inside the Property Page.
Another use of this technology is seen when you access a Property Page inside our search: CASAFARI uses AI to recommend similar listings that might be interesting for you or your client, based on the parameters you’ve set on our filters.
But what if you only need to make a quick search? No problem, our AI can help you as well! Just click on “Quick search” and type exactly what you’re looking for. Here’s an example: I’m looking for a two-bedroom apartment for sale in Estrela, in good condition and with a terrace.
Our AI will fill in the filters of the search for you, according to the characteristics you specified, and provide you with the results that fit into those criteria. It’s as easy as that!
Property Page
Speaking about Property Page, now you can effortlessly create AI-powered descriptions for properties and its locations in less than 5 minutes. The copy provided showcases the neighbourhood’s allure, the property’s surrounding amenities and Points of Interest nearby.
These editable descriptions are useful to highlight the added value of a property, captivating the attention of a potential buyer. They are shown both on Smartlinks and PDFs, so when you show a property to a client, it already goes with an enticing description.
Market reports
Real estate AI can analyse vast amounts of real estate data to generate reports, identifying investment opportunities and providing market insights for appraisers, estate agents, property investors and funds.
In conclusion, the integration of AI into real estate is redefining traditional practices and empowering professionals. Beyond efficiency gains, these technologies are fostering safer and more conducive working environments for industry experts, enabling them to focus on high-value tasks while leveraging AI for data analysis, market predictions, and personalised client interactions.
As we continue to witness the evolution of AI in real estate, it’s evident that its presence is not just a trend but a cornerstone for future growth and success in the sector.
