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Did artificial intelligence write this article?
The topic found more than enough room to breathe at this year’s event, and brokerage leaders would be remiss to blow it off, according to a group of proptech executives in the kickoff of the Tech & Data track on Wednesday in a session called “How To Plug AI Into Your Brokerage Operations.”
One way SkySlope, the popular digital transaction solution, helps brokerages integrate AI is to make it easier for agents to take action on critical deal forms. The software automatically identifies document types as they arrive in an inbox and direct the agent to take the requisite next steps, avoiding the risk of being lost in an inbox, saved in the wrong place or accidentally ignored.
SkySlope is doing more than document automation, according to Nikola Dosev, a product manager for the company. It uses AI to help agents write responses to documents.
“We’ve added a ton of email optimization and generative AI to help agents save time composing emails for forms, and [and when they need] digital signatures,” Dosev said.
The value of keeping transaction momentum is critical to hitting monthly, quarterly and annual revenue goals. Time, after all, kills deals.
Taking lead nurture and search conversations out of the hands of agents, using Localize OS is another way AI can power brokerage business, according to Omer Granot, CEO of Localize OS.
The company uses AI to scale relationship-building, using imported databases to ignite discussions with actionable leads. Agents can actively monitor the process of emerging business while actively managing, manually, deals in escrow. With the ability to pay more attention to sales closer to completion, the most critical period of the sales cycle, AI can measurably improve productivity for a brokerage.
“The biggest problem for all of you [the audience], according to the last two days, is how do you create meaningful relationships from your database at scale?” Granot said.
Jeremiah Taylor, chief real estate officer of OJO, encouraged people to be explorers.
“If you haven’t signed up for ChatGPT or Bard [Google’s AI product], and just play with them, it will unlock your ability to create content on your website, write scripts and dialogues and just help you have those conversations ready so much faster than on your own.”
Granot disagreed, instead asking the audience to consider the “great technologies” already out there.
“They’re proactive, they don’t require you to tell it what to do, they don’t just recommend, they take the next step,” he said. “I think what’s preventing people from using these technologies is that they’re trying to reinvent the wheel. ChatGPT is a building block, instead of trying to figure it out, choose a great solution to solve your problem.”
Inside Real Estate is often considered one of those, given its industry footprint. Company President Nick Macey told the audience that AI decisions should be based on helping agents help their customers.
“How do you make sure you’re reinforcing relationships between the agent and their customer? That has to stay central,” Macey said. “There are a lot of folks trying to disintermediate that, so find partners that are trying to support the relationship.”
Taylor said there is no magic pill.
“AI is never going to do all of the work for you, so pay attention, stay plugged in, seek partners that will help your business move faster.”