Brokers instructed Intel that synthetic intelligence has “significantly” boosted their productiveness — whereas others reported much less promising outcomes. See what instruments they’re utilizing that different brokers should not.
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The more and more widespread adoption of synthetic intelligence instruments in actual property has made brokers extra productive — though the distinction for many has been modest thus far.
However a smaller group of AI energy customers experiences that they’ve already seen a “significant” bump in productiveness, based on the newest Inman Intel Index outcomes.
How rather more productive do you assume AI instruments have made you in your work over the previous 12 months?
- Considerably extra productive — 11%
- Barely extra productive — 46%
- No distinction — 25%
- Barely much less productive — 1%
- Considerably much less productive — 0.4%
- I don’t use AI instruments for enterprise — 17%
On this December survey, lots of of actual property brokers make clear a brokerage world that has more and more embraced AI for duties like writing property descriptions or advertising and marketing supplies — with properly over half of survey respondents reporting they repeatedly use these instruments for textual content technology.
However the outcomes additionally revealed extra under-the-radar AI instruments that some brokers say have considerably upped their productiveness.
Take a look at the newest tech favored by energy customers within the full report.
AI within the brokerage world
For properly over a 12 months, actual property execs have explored the makes use of of AI to streamline duties like writing property descriptions or social media posts.
By late December, these two makes use of had turn out to be essentially the most widespread purposes of AI in actual property, brokers instructed Intel.
For which of the next duties, if any, do you repeatedly use AI instruments in what you are promoting? Choose all that apply.
- Producing textual content for property descriptions — 59%
- Producing textual content for social media or advertising and marketing supplies — 48%
- Producing evaluation or summaries of market information — 18%
- Producing pictures for social media or advertising and marketing supplies — 12%
- Enhancing itemizing pictures with a digital-staging software program — 11%
- Managing leads or duties in your database — 10%
- Enhancing pictures for social media or advertising and marketing supplies — 10%
- Automating direct communication with purchasers, corresponding to with a chatbot or different automated communication device — 9%
- Summarizing contracts or different enterprise paperwork — 8%
- Producing video for social media or advertising and marketing supplies — 7%
- Producing contracts or different enterprise paperwork — 6%
- Pulling information from property pictures utilizing image-analysis software program — 3%
- I don’t use AI for any of the duties above regularly — 30%
Most brokers instructed Intel they have been utilizing their very own most well-liked AI instruments.
A smaller group — about 1 in 3 agent respondents — mentioned they both relied totally on AI instruments that their brokerage offered, or used about an equal combine of their work.
However the outcomes present some ongoing mistrust towards instruments like ChatGPT, that are recognized to “hallucinate” info and make errors that must be checked by people.
Right here’s the place brokers got here down on the trustworthiness of AI.
If you use a generative AI service — corresponding to ChatGPT or the same device — to generate textual content that should be factually correct, or to reply a factual query, how would you describe the extent of belief you’ve within the outcomes?
- I’ve a excessive diploma of confidence that the textual content generated by AI instruments is correct — 6%
- I belief that the AI outcomes are often correct, however I anticipate that in uncommon instances it would produce factual errors — 34%
- Generative AI is nice sufficient to be helpful, however I anticipate that it’ll ceaselessly produce factual errors — 42%
- I view textual content generated by AI as essentially untrustworthy — 18%
With these phrases of warning in thoughts, some brokers have discovered areas the place AI instruments have offered an enormous increase to their self-reported productiveness.
What an AI energy person appears to be like like
For Intel’s functions, we’re defining an AI energy person as an agent who mentioned that AI instruments have made them “significantly” extra productive.
This group is a small slice of the general agent inhabitants — representing 29 whole brokers in the newest survey — and their responses in consequence must be taken with a grain of salt.
That mentioned, just a few key variations did stand out of their responses to Intel.
Listed below are the 5 areas the place the AI energy person group appeared most totally different from the broader inhabitants of brokers.
For which of the next duties, if any, do you repeatedly use AI instruments in what you are promoting? Choose all that apply.
- Summarizing contracts or different enterprise paperwork — 35% of energy customers, vs. 8% of all brokers
- Producing contracts or different enterprise paperwork — 24% of energy customers, vs. 6% of all brokers
- Producing video for social media or advertising and marketing supplies — 28% of energy customers, vs. 7% of all brokers
- Automating direct communication with purchasers, corresponding to with a chatbot or different automated communication device — 24% of energy customers, vs. 9% of all brokers
- Producing evaluation or summaries of market information — 45% of energy customers, vs. 18% of all brokers
Given the delicate nature of contracts and direct communication with purchasers, it’s not onerous to think about why many actual property professionals have been reluctant to use AI to those areas of their enterprise.
But when that AI belief hole can ever be addressed — an enormous “if” in an trade the place every transaction is that this essential, and this complicated — these lesser-used capabilities might ultimately present a significant increase to agent productiveness.
Methodology notes: This month’s Inman Intel Index survey was carried out Dec. 18, 2024-Jan. 4, 2025, and had acquired 553 responses. Your entire Inman reader neighborhood was invited to take part, and a rotating, randomized number of neighborhood members was prompted to take part by e-mail. Customers responded to a collection of questions associated to their self-identified nook of the true property trade — together with actual property brokers, brokerage leaders, lenders and proptech entrepreneurs. Outcomes replicate the opinions of the engaged Inman neighborhood, which can not all the time match these of the broader actual property trade. This survey is carried out month-to-month.
