The Role of Chatbot for Real Estate Industry

The Role of Chatbot in the Real Estate Industry

Chatbot for Real Estate: One of the biggest technological disruptions that have occurred in the marketing world in recent years has been chatbots powered by artificial intelligence. The growth of machine learning and natural language processing capabilities has made chatbots more human than ever in terms of interaction with potential customers.

Studies have shown that by 2021 85% of all engagements a customer has with a business are expected to be through self-service options and chatbots and not a human point of contact. As with other business sectors, the real estate industry should also take note of this growing trend of artificial intelligence conversation tools that are gaining the affection of consumers around the world.

Chatbot for Real Estate – Why are chatbots important to the real estate industry?

When someone wants to buy or sell their home, the important thing is to choose a real estate agency and especially a real estate agent.

Today, people use the Internet when they don’t know what to do.

That is why a person looking for an agency or real estate agent will use the Internet.

This is why chatbots are a great opportunity for the real estate industry as they are simple, fast, convenient, and they don’t have that horrible sign-up form that scares potential customers.

If you are part of the real estate sector and wondering how to generate more results with chatbots, here are 3 ways to try:

Effective qualification of potential customers

Records show that 65% of customers are probably to come back to a website if it offers live chat support. Therefore, you need to have an extensive chat support system for your internet presence. But then comes the downside.

Not everyone who talks to your agents will be potential leads. Some people may just chat for information that doesn’t necessarily translate into a business deal. So is it worth investing in a human agent to qualify all incoming chat queries?

It would be a big no! Your human agents should be assigned to handle only important leads that have the potential to morph into a direct deal.

The lead scoring part can now be handled by chatbots that can autonomously use a series of questions to gauge a visitor’s level of interest.

You can then rate the visitor as a valuable lead or not by comparing their behavior to previous instances of lead interactions and thereby assigning lead maturity scores.

Leads with a higher score will have a better chance of converting to a deal and can move on to human agents for further communication.

Those with lower scores can be continuously fed by the chatbot providing them with more information about the property that they need assistance with.

Thus, your human agents can be used to drive higher-level sales, while an AI-powered chatbot can handle repetitive questionnaires and lead qualification rounds efficiently.

Efficient monitoring

It may take more than a couple of interesting conversations to entice a potential buyer to make the decision to invest in a property.

Conversational chatbots can interview visitors, collect their contact information, and offer them time to think about the prospects that were shown.

They could then automatically follow up with them by triggering emails requesting an appointment to view the property directly or taking it to the next step, which may involve a direct discussion with a human agent.

Either way, the chatbot can facilitate follow-ups in a much more efficient and timely manner based on the preferences of the visitors.

You can also send agents email alerts about a lead’s upcoming visits with their detailed conversation history to help them convert the lead into a faster, more profitable deal.

If the entire chat support process and subsequent email follow-up were to be handled by human agents, then your chances of losing follow-up programs and also higher chances of data collection and information sharing errors.

Automate your first point of contact

If you deal with property or home rentals or sales as a business, then a conversational chatbot can be implemented on your website to serve as the first point of contact for a prospective buyer visiting your site.

You no longer have to hire dedicated turn-based customer service representatives if you want to have 24×7 live chat support on your website to help shoppers make decisions faster.

A conversational chatbot can simply manage multiple visitors at the same time without compelling them to wait for a live agent to connect and handle their inquiries.

This automation combined with instant response will definitely translate into lower operating costs for your business, as well as increased customer satisfaction through faster responses.

Characteristics of the chatbot in the real estate industry below:

  • Consultation in real-time.
  • Available 24 × 7. 
  • Specific user.
  • Better Engagement.
  • Better time management.
  • Automate your follow-up process.
  • History of the interaction.

Conclusion

As you have witnessed the role of chatbots in real estate industry scenarios where chatbots can become more efficient representatives of your real estate business, the remaining aspect is selecting the highest effectual technology to build your custom real estate chatbot.

Machine learning and artificial intelligence are very complex in terms of technology development and would require advanced levels of technical advice and development support to enable the best for your business. This is where a technology partner like HelloYubo can be your salvation.

Our consultants can help you build the smartest AI-powered chatbot to help you improve the efficiency of online property sales. Get in touch with HelloYubo to explore world-class digital solutions in which the best real estate players continually invest to grow their business.

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