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How Artificial Intelligence Enhances the Home Buying Experience

In this special guest feature, Roy Dekel, CEO and Co-Founder of SetSchedule, discusses how AI is transforming the residential real estate industry by enhancing the home buying experience. This new technology can help make the human connections that make the home buying process less painful and more fulfilling. SetSchedule is the technology innovator that is revolutionizing real-estate business development by drawing on its multi-patented matching engine that leverages AI-powered predictive data, insider market insights and automated marketing software tools. Roy possesses more than 10 years of experience in the real estate development field and has been involved in the entertainment industry and merchant services as a venture capitalist. He has held active roles in his portfolio companies, from President to Director of Business Development. Roy served five years in the Israeli Defense Forces (IDF) and was promoted to captain of a specialty unit within the Israeli Navy Seals, prior to immigrating to California.

As a prospective home buyer, it can be easy to get overwhelmed by the process. From finding the right agent among the thousands who serve your area to sifting through hundreds of properties on dozens of different websites and arranging plus attending showings. And that’s before you even start thinking about your budget.

Purchasing a home is a major investment and an important decision, but real estate technology is constantly being created and improved in order to take much of the stress out of the process. In particular, recent advances in Artificial Intelligence (AI) are resulting in more seamless transactions and enhancing the overall experience of buying a home.

You might think of AI as something that replaces humans, but we’re not quite there yet. Rather, this new technology can help make the human connections that make the home buying process less painful and more fulfilling.

Your shepherd through the complex home shopping process is your real estate agent, which means they should have knowledge of the area as well as background in the type of property–condo, single family home, etc.–that you are looking for. AI can synthesize all the preferences you input to help you find a tailored list of agents with the core competencies that match those specific criteria. It takes into account specialties like geographic area and property types, first time home buyer experience, as well as sales records, recent transactions and client ratings.

But let’s not forget, buying a home is not just a financial investment; it’s an emotional one as well. It’s not just going to earn equity; it’s a place where you’ll build a life. As such, the process of finding a home needs to take emotions into account just as much as credit scores, and AI can help here too.

Your real estate agent needs to be your advocate, who, ideally, understands not just your budget but your values and the things that are important to you as a person, couple and/or family. Plus, agents have preferences too when it comes to who they take on as clients. AI can utilize a few simple preferences to extrapolate insight into your personality type, personal values, deal breakers and more, and match you with an agent who is aligned with those elements as well. Kind of like online dating, but for real estate.

Some home buyers prefer to do leg work on their own, with less reliance on an agent or realtor, and Artificial Intelligence can be useful to them as well. AI and machine-learning enabled portals are already popping up that utilize demographic, psychographic and behavioral information in concert with user entered preferences to narrow down a list of dozens of possibly relevant properties to a select shortlist of near-perfect properties. When you’re handling the property search yourself, that kind of efficiency can be a lifesaver. It gives you the timeliness to jump on hot listings and the ability to narrow your focus to the best bets when actually going to view properties.

AI is already seeing growing adoption in the real estate world, but the technology is relatively new, and, as we’ve mentioned, it won’t replace the human real estate professional anytime soon. It can show you rich pictures and a 360-degree video of a house, but it can’t walk you through and tell you a story about the property that helps you envision your life there.

What AI really does is streamline the interactions and processes between the buyer and the agent. Assuming you’ve already utilized an AI-powered platform to make a compatible match with an agent, that agent can also use AI to predict your needs and personalize everything they do for you on a scale one human probably couldn’t accomplish on their own.

It eliminates the risk of having to slog through multiple properties you’d never buy because it helps narrow your focus on the perfect properties for you. It can automate complex logistics, finances and paperwork, so that you and your agent have the time to go walk through that dream home a few more times just to be sure before you make an offer. By creating efficiencies and boosting personalization, Artificial Intelligence helps you have a better experience by empowering your agent to give you the best possible service.

Though the real estate industry is often slower to adopt technology than others, it appreciates personalization, scalability and efficiency just like any other industry, and Artificial Intelligence is going to be a significant driver of innovation now and in the coming years.

 

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Comments

  1. Sharon Devell says:

    Setschedule is awesome! Great Tech! Great leads!

  2. This is Great!!! SetSchedule is definitely one of a kind. Extremely user friendly and still the Worlds First AI based lead execution platform.

  3. My broker is a Set Schedule member as well and we have also had a really positive experience using the lead platform. Looking forward to new improvements to the tech.

  4. I have had a great experience using set schedule technology and purchasing a lead here and there. As I am just getting settled as an agent my budget it limited. SetSchedule is literally the only source I have found that does not charge hundreds or even thousands of dollars for a few leads. I really appreciate the fact that you know and get what you pay for. If you want one lead, you can literally choose the area and select one lead. If you want 14, you can do that too, but it is all up to you. Other companies provide you impressions, or flyers or whatever, with no guarantee what you get. As someone new to the industry it’s important that I invest in my marketing at a pace that I am comfortable with and SetSchedule allows me to purchase, or not purchase at my own pace.

  5. I am 1 for 1 with my SetSchedule listing appointments! Can’t wait for my next 3. I have never used a marketing company that gave me such quick results. SetSchedule has quality appointments and outstanding technology to further help me gain clients. Sounds like whatever tech they are using works!

  6. I am obsessed with Setschedule’s open house. I really appreciate the notifications every time a new customer’s stops in. This way I know what is going on without having to be there. I can track the clients and follow up in the following days through my SetSchedule CRM. Super useful system.

  7. SetSchedule is super responsive to my inquiries. Great service. Thanks Paula!

  8. A+! Set schedule is a great company! The revenue radar lead generator is awesome! There is nothing else out there that allows you to pick your own leads. Not only are they extremely Reasonably priced, they have great resources for data and marketing.

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