Artificial Intelligence will be the boon and then the downfall of the common real estate agent. Already we’re seeing the role of the letting agent get undermined by technology — instead of controlling all information they increasingly focus on acting as the human element to a sometimes arduous process.
Negating or Monetizing an Agent’s Experience
So while LabCoat Agents astutely asks
What if cognitive computing enables agents to be better professionals and make better recommendations to their clients? What if access to cognitive computing power, and the data necessary to power it, becomes the 21st century equivalent of the MLS utility?
one can quickly imagine that the efficiency is a Trojan Horse. Sure, you love a bot to simplify scheduling but what happens when more of that “human” interaction is centralized into chat and phone agents sitting in a central location and real estate agents are salaried tour guides? #Redfin
Upper-end realtors will continue to thrive whilst all other agents will fall off. But all agents are eventually at risk.
Welcome our New Robot Overlords
Recently Inman reported that bots can select potential homes better than a broker.
With artificial intelligence able to parse big data, gimmicks to get attention will rely less on pandas and more on what speaks to your targeted prospect and more about ROI.
With real estate brokerage commissions inherently broken, this industry is ripe for continued disruption (as hackneyed as that expression is). Artificial intelligence will play an increasing role in real estate and elsewhere. #HumansNeedNotApply
Where else can we expect to see this new model bolster humans before causing them to reframe their existence?