Is AI reshaping the property industry?
Artificial Intelligence left its imprint on the property market landscape in 2023, starting to reshape the way things operate.
48% of estate agents reported using ChatGPT or equivalent in their business (compared to 38% in May), and a further 19% were exploring it in use cases.
AI can help by streamlining operations and enhancing decision-making processes and many website visitors will be familiar with automated chat support. AI is also widely used to generate personalised property recommendations based on client preferences and market trends.
Despite this, people still remain at the heart of the property industry. In the Property Academy Home Moving Trends Survey, 41% of respondents said that they chose their estate agent because they liked and trusted them. Source: #Dataloft Poll of Subscribers, Property Academy Home Moving Trends Survey 2023.