Yes, AI is reaching 80% of real estate agents. And honestly? That could be the best thing that has happened to Real Estate Photography near Blanco TX in decades, because that's the way it is. AI is gradually changing the industry, making Real Estate Photography near Blanco TX transactions more efficient, streamlining management and refining investment approaches. Delta Media's new 2024 survey shows that 75% of major U.S.brokerage firms UU.
They have already adopted artificial intelligence technologies and are slowly integrating them into their work. The intersection between the real estate sector and artificial intelligence (AI) has caused widespread speculation both in the real estate market and in the technology sector. Will AI replace real estate agents? While technology is undoubtedly changing the way the industry operates, real estate agents are unlikely to be replaced anytime soon. Instead, artificial intelligence and human experience will complement each other. Today, it may seem far-fetched to imagine a complete commercial real estate transaction managed by AI agents on both sides.
Demographic changes, changes in population dynamics and urbanization trends are also affecting the decisions of representatives of real estate companies. The stark contrast between the pre-technological real estate sector and the current one, driven by artificial intelligence, highlights the transformative effect of technology. Nome Capital Partners, a real estate company based in the Bay Area that focuses primarily on investments in office properties, used Hank from JLL in a highly leased building to reduce HVAC energy consumption by 45%, achieve a 60% less deviation from the point set by tenants, and increase fresh air circulation to double the minimum amount required to improve indoor air quality and building health for occupants in general. While AI will help make processes faster and smoother, agents will remain at the forefront and will take advantage of these tools to provide information, customize solutions and make real estate transactions more personalized. The opportunity in commercial real estate seems even more promising considering the additional companies that will emerge as pre-trained basic models are modified to adapt to specific use cases.
With AI managing tedious tasks such as scheduling and responding to initial inquiries, real estate agents can be more productive and spend more time building meaningful relationships with clients. In JLL's 2024 Future of Work survey, most companies (90.1%) expect to carry out corporate real estate activities, such as workplace strategy, occupancy management and lease administration, with AI supported by human experts for the next five years. The platform “analyzes data from more than 1.25 million properties traded around the world over the past 20 years to predict changes and opportunities in the real estate market, providing advisors with more precision and intelligence to optimize their clients' portfolio strategies. Once again, AI is doing the work that real estate investors and analysts have always been doing, but at a speed that allows landlords to make complicated, high-volume investment decisions in the early stages of the transaction process and to have more information.
Real estate professionals have been using predictive AI to find and analyze patterns and trends in market data and user behavior that human analysts might miss. However, despite its current limitations, AI seems to be on a path that will eventually lead to replacing, at least partially, traditional real estate analysts. Zlocki added that facility management is relatively easy for AI due to the growth of Internet of Things (IoT) technology in the commercial real estate industry. Approximately 49% of real estate business owners have seen cost reductions thanks to the adoption of AI, resulting in potential savings in operating costs of up to 15%.
