May 04, 2023
Ways Home Builders Can Benefit from Using Artificial Intelligence
Artificial Intelligence (AI) has taken the world by storm, with additional applications being released daily. From enhancing customer service and in-house productivity to making virtual home tours and creating effective marketing strategies a breeze, AI streamlines how home building and real estate business is conducted.
Improves Customer Service
Every home builder and real estate agent knows responsive customer service is essential in elevating the home builder customer experience. AI improves customer service by shortening processing times, increasing successfully resolved issues and boosting customer service capabilities.
Using an AI-powered program decreases the time it takes to handle a single chat and increases the number of chats a single agent can handle per hour. Studies show that artificial intelligence improves the number of customer issues an agent or company can successfully resolve per hour by approximately 14%.
One of the most efficient ways home builders and real estate agents use AI when conducting customer service is via AI-based messaging systems, also known as chatbots. Think of these chatbots as an extension of your Online Sales Counselor (OSC). Programs such as HubSpot and ChatGPT by OpenAI provide website visitors and prospective customers with customized chats providing beneficial knowledge and asking specific questions, including:
• What are you looking for in your new home?
• What is your budget?
• Do you have a preferred location for your new home?
After administrating the bulk of the customer's questions and concerns, the AI system moves ahead and completes one of the following tasks automatically:
• If the chat qualifies, the AI program sends the chat to a live agent to resolve the issue or answer any difficult questions.
• The chatbot creates a support ticket, ensuring the customer's issue is resolved when a live agent is available.
• If the issue is resolved and all questions are successfully answered, the AI-powered system adds the customer to a list or workflow.
Having a chatbot answer basic questions improves the performance of your online sales counselor by freeing them up to handle hot prospects and more technical questions. And, no, the chatbot doesn't replace your OSC. Find out more about why home builders need online sales consultants in all market conditions.
In addition, research shows that artificial intelligence improves how customers treat real estate agents, home builders and customer service teams.
Enhances In-House Productivity
Artificial intelligence is the perfect place to start when it comes to boosting productivity within your home building or real estate development business. Systems such as Fireflies.ai and Supernormal transcribe notes from calls and streamline contact reports, to-do lists and more.
Supernormal is an AI-powered meeting program that creates a seamless meeting experience for everyone involved. Compatible with Zoom, Microsoft Teams and Google Meet, Supernormal instantly provides detailed notes instantaneously from any video chat. Additional features that Supernormal offers are:
• Calendar Integration
• Focused Conversations
• Multilingual Notes
• Automatic Saving of Notes and Meetings
Much like Supernormal, Fireflies.ai provides automatic recordings and transcribing of meetings – in addition to several other beneficial features. Used by big-name companies such as Netflix, Nike, Delta, Expedia and Uber, Fireflies AI offers AI-powered tools for teams in sales, engineering, recruiting, marketing and media, including:
• Filtered Notes with AI-Powered Search
• Seamless Collaboration with Co-Workers
• Meeting Analysis Featuring Speakers Talk-Time and Average Questions Asked
• Automated Workflows
• Self-Updating Knowledge Base
Studies have shown that businesses that use AI-based programs gain significant momentum and increase in-house productivity.
Increases Effective Marketing
Developing a successful marketing strategy is essential to effective branding and lead generation. Whether you need help with your content calendar or creating copy for your website, AI programs like ChatGPT have you covered.
To use ChatGPT productively, home builders and real estate developers must provide ChatGPT with enough quality information for the AI bot to respond successfully. Businesses can use the AI program to create compelling social media content, website copy, etc. While 57% of ChatGPT users utilize the program for customer support, the other 58% use ChatGPT for copywriting and content creation. Remember, like many things in life, you get out of it what you put into it. The better your directions and prompts, the better your results.
Another way to use artificial intelligence within the home building industry is to promote virtual home tours. Homebuilders can use AI for virtual and 3D tours to create an immersive and interactive experience for potential home buyers or renters. This technology allows users to virtually explore a property, visualize different design options, and customize their future home. 3D virtual property tours provide prospective home buyers easy access to the home without having to carve out time to meet an agent in person, which gives real estate agents more time to handle more tasks.
Here are some ways homebuilders can incorporate AI into virtual and 3D tours:
AI virtually stages a property by analyzing the space and suggests appropriate furniture, decor, and layout options. This helps potential buyers visualize the property in its best light.
AI enables real-time customization of design elements during a virtual tour, such as changing paint colors, flooring and countertops. This allows prospective homebuyers to visualize various design options and make more informed decisions..
AI-powered chatbots integrated into virtual tours can answer user questions, provide additional information and guide potential buyers through the process.
Virtual reality (VR) integration:
Combining AI with VR technology creates an even more immersive experience. Homebuilders can develop VR tours that allow users to virtually walk through the property, interact with objects, and see design changes in real time.
User behavior analysis:
AI analyzes user behavior during virtual tours to identify patterns and preferences, providing valuable insights for homebuilders. This helps home builders to optimize the design, layout and overall user experience.
3D modeling and rendering:
AI enhances 3D modeling and rendering capabilities, making it faster and more efficient to create high-quality, realistic visualizations of the property.
By integrating AI into virtual and 3D tours, homebuilders offer a more engaging and personalized experience for potential buyers, helping them make better-informed decisions and ultimately increasing the likelihood of a sale.
Artificial intelligence is revolutionizing new home sales and marketing and the real estate industry by improving customer service, enhancing in-house productivity and increasing effective marketing strategies. At Milesbrand, our talented team can help you develop a brand identity to ensure success for your home building or real estate development company. Contact us today for additional information on our process and how we can make your brand stand out.