The real estate sector is digitized with AI, Big Data, ML and home automation

The real estate It has been one of the most successful companies that has opted for digital transformation. That is why it seems essential that professionals learn to digitize processes to gain efficiency and productivity.

Artificial intelligence, Big Data, machine learning, virtual and augmented reality or home automation are just some of the trends that have gained the most prominence in this regard.

The proptech ecosystem brings together more and more services and tools whose objective is to offer digital services to respond to the needs of clients and professionals in the sector. In fact, the new digital services have made it possible for the sector to maintain a relatively normal activity with the state of alarm and the strict confinement experienced in 2020.

All this, thanks to the possibility of continuing to carry out daily activities remotely through digital services such as virtual visits to homes, automated valuations (AVM) of properties or, even, the closing of transactions by signing contracts online .

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But how can these technologies be applied in the activity of the sector to respond to the boom in real estate activity? The experts from the Institute of Valuations explain it:

1. Artificial intelligence and Big Data for better customer service

Whether it is for the management and management of properties, offering customer service, managing user data or automating tasks, professionals in the sector are increasingly using systems and tools based on AI, Big Data or machine learning that allow them to work more efficient and productive, in addition to optimizing procedures and lowering costs.

A clear example is the use of artificial intelligence to improve customer service through chatbots. This tool streamlines and increases the response capacity of real estate agencies and professionals to customer inquiries, being able to resolve their doubts or incidents at all hours, and obtaining information on what they are looking for, without the need for an intermediary agent. Further, artificial intelligence has also brought facilities for data management and the personalization of offers.

For their part, thanks to Big Data, professionals in the sector have key information to be able to make the most correct business decisions based on real and objective data, in addition to being able to innovate in the business taking into account the needs and desires of their potentials customers. Massive data analysis allows, among other things, to predict, plan and make decisions, and can be used in processes such as strategic city planning, property appraisal and valuation, or in construction to optimize the use of space and the resources.

2. Automated property appraisals to lower costs

Despite the impact of the pandemic, automated valuations have recovered their growth rate. And it is that this valuation model takes advantage of disruptive technologies to lower costs and increase efficiency, since it does not require the physical intervention of an appraiser or other procedures that are usually necessary in traditional valuations.

In addition, it allows various assets to be valued simultaneously thanks to intelligent systems that, through Big Data and Artificial Intelligence, analyze the information associated with assets and their locations, issuing an appropriate valuation.

3. Home automation and robotics for a more eco-friendly use of homes

One of the great benefits that digitization and innovation offer to the sector is the possibility of making constructions and daily use of real estate more sustainable. For example, installing charging stations for electric vehicles in car parks or having solar panels on rooftops to obtain energy from renewable sourcesare some of the actions that can be carried out in new constructions to increase their level of sustainability.

In addition, the constructions stand out Passivhaus that seek to reduce the energy consumption of homes. On the other hand, new techniques and tools such as robotics, 3D printing or the Construction Information Modeling methodology (Building Information Modeling) to streamline and automate processes.

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