How Is AI Changing Real Estate?
Whether you like it or not, AI (Artificial Intelligence) is changing our entire world. We use AI for everything from interacting with our cell phones to where our cars can drive themselves. So is Artificial Intelligence going to change the shape of the real estate industry? Yes, and in fact, it already has. So what is to come?
AI Is Disrupting The Real Estate Industry
Almost everyone has heard of Zillow. So how have they changed things up with AI? Zestimates. Zestimates are an algorithm calculated value of your home. The algo uses data from public information, submitted data from users and takes into account things like current market conditions, location and home facts. Is it 100% correct - no, but it can be a good place to start gauging your properties value.
Check out what Adrian Fisher has to say about AI and Real Estate:
So it looks like agents may be a thing of the past, or at least headed that way. In fact studies show that most home buyers now start their new home search online before even contacting an agent.
Do You Really Need A Real Estate Agent Now?
Things are really changing, and changing fast. In our opinion, sellers and buyers are tired of paying out so much cash for what most agents do, just list and put a property on the MLS (Multiple Listing Service).
Here is what G. Brian Davis from Bigger Pockets has to say about it:
So it really appears that the pressure is on agents, especially the ones that under perform. We all know somebody that has had some sort of horror story with a realtor.
Are Agents Going To Become Obsolete?
In our honest opinion, not any time in the near future. Agents do still provide a valuable service (well, at least some of them). There are sellers that don't have a clue as to how to sell a home or even know where to begin.
Monica Nickelsburg makes this important point:
Summing It Up
So that's just a little about how AI is changing the real estate industry. There are many more things that are coming and are on the horizon. One thing for sure, not as many people are going to have to rely as heavily on real estate agents as they use to.
If you have a house anywhere in Chamblee or the surrounding areas that you want to sell - give us a call! You don't need an agent to sell to us. Just give us a call at (770) 756-8680 or check out our website to complete a brief form and we will contact you soon.
How Is AI Changing Real Estate? is available on MandichPropertyGroup.com. Discover more on: Mandich Property Group's Blog
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