4 Ways Home Builders Can Utilize Artificial Intelligence for New Home Sales Success

February 13, 2024

4 Ways Home Builders Can Utilize Artificial Intelligence for New Home Sales Success

In the dynamic realm of homebuilding, leveraging artificial intelligence (AI) can be a game changer for achieving new home sales success. Savvy home builders are recognizing the power of AI to gain a competitive edge. Embracing cutting-edge technology opens avenues to streamline processes, enhance customer experience, and stay ahead of the competition.

To begin implementing AI into the new home sales process, builders should start by familiarizing themselves with the array of options available and how each can benefit the business. This blog provides a beginner’s guide, highlighting options such as personalized customer interactions, efficient time management and enhanced sales training. Once builders have a grasp of AI’s capabilities, they should assess the sales and building process to identify specific problems or pain points that AI solutions can address. Next, connecting with experts can ensure seamless integration and proper training for appropriate staff. Starting small by integrating just one technology at a time can ease the initial apprehension caused by change, while also enhancing efficiency and staying ahead in the competitive homebuilding market.

Here are 4 ways new home builders can harness the power of AI:

1. Personalized Customer Interactions

Artificial intelligence enables home builders to create tailored experiences for potential buyers through a variety of uses.

Implementing chatbots powered by natural language processing (NLP), such as ChatGPT or Gemini, allows for real-time interactions on websites 24/7. These chatbots can answer queries, provide information on floor plans and even schedule virtual tours. While they provide a huge benefit by being available when your buyer is, no matter the day or time, they also free up your sales team’s time during the day.

A builder-specific chatbot, AtlasRTX gathered data that shows homebuyers are two to three times more likely to engage with a chatbot versus live chat because of the ability to immediately get answers to their questions. The AtlasRTX chatbot guides a buyer on the website until they indicate they are ready to connect with a live sales agent. They also provide follow-up tools, such as engaging through text messaging after a browsing session or onsite visit, to continue nurturing the lead. The technology can even help determine interest level and buying timeframe, alerting salespeople to high priority prospects.

Utilizing tools like Humantic AI, home builders can enhance interactions by gaining personality insights derived from AI analysis of digital footprints. While Humantic AI primarily sources from LinkedIn, making it specifically useful in the B2B sector, it and other similar technologies can help tailor sales agents communication with a particular prospect, crafting messages potential customers are more likely to respond to.

CRM systems are also being updated with AI technology, allowing you to better target prospects already in your database with personalized messaging. The introduction of AI into these already robust platforms are making the agent follow-up process even better.

2. Using AI to Enhance Efficiency

Chatbots, fueled by advanced AI technology, emerge as invaluable virtual assistants, tirelessly managing tasks round the clock to elevate sales team efficiency. On the sales side, these AI-driven solutions present numerous opportunities for streamlining processes. Sales agents can expedite and even automate follow-up procedures, liberating their time to focus on high-value interactions.

Sales teams can also increase their efficiency by using it to complete simple sales tasks. For example, HomeScribe.AI can make quick work of home descriptions, while chatbots like Gemini make content creation a breeze.

The integration of AI also extends beyond sales tasks, with virtual assistants able to encompass a spectrum of administrative activities such as scheduling, email management and data entry. The result is a more efficient and effective team. This heightened level of service not only accelerates responsiveness but also ensures a highly personalized experience for potential homebuyers.

3. Home Design Customization and Optimization

Empower your homebuyers to envision their dream home before it exists with next-gen AI visualization tools. Tools like Digs AI transform your data and documentation into a personalized, digital replica of their home while providing a space to collaborate. Buyers can see all selection options and room measurements, communicate with the builder team, manage punch lists and more, keeping them engaged and up-do-date throughout the build process.

AI-powered home design software takes it further, letting buyers virtually walk through their future home using virtual or augmented reality. Imagine them navigating rooms, testing layouts and experiencing the available design options – all virtually, before construction even begins.

A huge benefit for custom builders or those with to-be-built options, visualization and design software can eliminate confusion and cut down on change orders by letting buyers fully experience their plan and options early on in the build or even before construction begins. It also allows potential buyers to connect with their future home on a more personal level, confirming a potential purchase decision and increasing production builders’ to-be-built home sales. This type of software even offers up the possibility of model homes becoming a cost builders no longer have to account for, as AI visualization could potentially replace physical model homes.

4. AI-Enhanced Sales Training for Targeted Interactions

Innovative AI platforms play a pivotal role in revolutionizing sales training for home builders, providing insights into the questions potential buyers may ask. For instance, utilizing AI to anticipate the top queries from non-local or first-time buyers allows sales teams to be well-prepared with relevant information. Taking it a step further, AI can analyze specific pain points experienced by different buyer personas, tailoring responses based on factors like location and time of year. Regularly auditing buyer personas and their evolving pain points ensures that communication remains pertinent and resonant.

Sales teams can leverage this AI-driven approach to enhance their responses, preparedness and overall effectiveness. Platforms like ChatGPT can be employed to create dynamic sales role-playing scenarios, offering a valuable warm-up exercise for the team. While live role-playing remains a crucial element in sales training, integrating AI as a preparatory tool proves invaluable, especially for newer sales professionals. This combination ensures that sales teams stay agile and comfortable, adapting swiftly to changing market dynamics and delivering impactful interactions with potential homebuyers.

Artificial Intelligence at the International Builders’ Show

AI is a hot topic at the 2024 International Builders’ Show, with a multitude of presentations touching on the subject. We recommend adding these two sessions to your show planner if you’re attending to learn more about how AI is shaping new home sales:

Engage and Keep Prospects Happy: Top of Funnel to Bottom
Tuesday, February 27 from 2-3 p.m.
IBS Learning Labs – LVCC West 232

Jam(b) Session: How AI is Revolutionizing New Home Sales & Marketing
Wednesday, February 28 from 12:15-1:15 p.m.
IBS Learning Labs – LVCC West 232

Home builders embracing AI technology can revolutionize their approach to new home sales. From personalized customer interactions to virtual assistants, the possibilities are vast. Remember, AI is a powerful tool that can improve your processes and create efficiencies, but it can’t replace the human touch. Use it to enhance your sales efforts, not replace them, and you’ll be well on your way to building smarter, selling faster and achieving unprecedented success in the new home market.

Let our team at Milesbrand help you develop a brand identity to ensure success for your homebuilding or real estate development company. Contact us today for additional information on our process and how we can make your brand stand out.

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