Real estate brokerage agents have expressed a cautious embrace of artificial intelligence (AI) in a recent survey by RealTrends BrokerPulse. While about 25% of respondents are not interested in AI or actively avoiding it, the majority are exploring ways to utilize it. One leader who fully embraces AI is Glenn Sanford, CEO of eXp Realty. He believes that AI is not simply a buzzword, but a game changer that can revolutionize the real estate industry.
Sanford firmly asserts that AI is meant to enhance the abilities of real estate professionals and improve the overall customer journey, rather than replace them. He recognizes the immense potential of AI in elevating agents’ proficiency and effectiveness. Sanford, true to his entrepreneurial mindset, thinks beyond mere profit and is willing to invest in AI to challenge traditional norms and create new opportunities.
eXp Realty has started making investments in various companies that can bring innovative ideas to benefit their agents, brokers, and staff. By utilizing machine-learning algorithms, their agents can gain valuable insights into market trends, accurately predict property values, and efficiently match buyers with their dream homes. They have already incorporated AI into their search solutions and plan to use it even more extensively in the future.
Sanford predicts that AI will disrupt the real estate industry, not by devaluing real estate agents, but by changing the way things are done. Lead follow-up and nurturing campaigns could be managed by AI, and chatbots could handle routine inquiries, allowing agents to focus on building deeper connections with clients. In Sanford’s vision, AI algorithms will go far beyond predictive analytics and will help agents curate personalized property recommendations that perfectly align with the preferences and lifestyles of their clients.
Sanford believes that embracing AI wholeheartedly is not a choice, but a necessity for the industry to remain relevant in the rapidly advancing digital era.
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