How will the rise of automation and artificial intelligence impact the real estate industry?

[Jeremy]

Recently, AI has been taking over almost all industries. The real estate has not been left out. The impact of automation and artificial intelligence on the real estate industry is still relatively unknown, but there are a few potential scenarios that could play out.

One possibility is that automation will lead to a reduction in the number of jobs in the real estate industry, as many tasks currently carried out by people, such as calculating mortgage payments or reviewing property titles, could be done more efficiently by machines. This could lead to a decrease in wages and increased competition for jobs, which could make it more difficult for people to afford to buy or rent property.

Another possibility is that automation will increase efficiency in the real estate industry, leading to shorter transaction times and lower costs. This could benefit buyers and renters by making it easier and cheaper to find and purchase property. However, it is also possible that automation will lead to a decrease in the quality of services provided by the real estate industry, as machines are not yet able to replicate all the functions performed by human beings.

How do you think will the rise of automation and artificial intelligence impact the real estate industry in your country?

 

[Alex_BM]

The rise of automation and artificial intelligence will impact the real estate industry in two major ways:

First, it will make it easier for people to find a home. For example, imagine that you're looking for a new apartment. You can use your computer to quickly scan hundreds of listings for apartments within your price range and in your preferred location. You can also use GPS and other location-based technology to find out which houses are near bus stops or grocery stores.

Second, it will allow people to sell their homes faster than ever before. For example, imagine that you're selling your house and want to get rid of all the junk lying around. Instead of having to hire a team of people to come over and do all the work for you, you can use an app on your phone that takes pictures of all the junk in one go and sends them directly to a company who specializes in cleaning up after messy parties (or messy homeowners).

 

[Maryline54]

The rise of automation and artificial intelligence will have a huge impact on the real estate industry. Real estate agents who specialize in homes that are sold through auctions will be affected because the ability of an AI to analyze data quickly and accurately could lead to a robot being able to purchase the home at auction without human intervention.

However, all real estate agents will be affected by this change because it will require them to learn how to work with new technology, which may involve learning skills such as coding or programming.