Brokers informed 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 usually are 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 studies that they’ve already seen a “significant” bump in productiveness, in keeping with the newest Inman Intel Index outcomes.
How way more productive do you assume AI instruments have made you in your work over the previous yr?
- 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, a whole lot 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 nicely over half of survey respondents reporting they usually use these instruments for textual content era.
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 nicely over a yr, actual property professionals 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 develop into essentially the most widespread functions of AI in actual property, brokers informed Intel.
For which of the next duties, if any, do you usually use AI instruments in your online business? 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 knowledge — 18%
- Producing pictures for social media or advertising and marketing supplies — 12%
- Modifying itemizing pictures with a digital-staging software program — 11%
- Managing leads or duties in your database — 10%
- Modifying pictures for social media or advertising and marketing supplies — 10%
- Automating direct communication with shoppers, similar 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 knowledge from property pictures utilizing image-analysis software program — 3%
- I don’t use AI for any of the duties above frequently — 30%
Most brokers informed Intel they had been utilizing their very own most well-liked AI instruments.
A smaller group — about 1 in 3 agent respondents — stated 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 identified to “hallucinate” information and make errors that need to be checked by people.
Right here’s the place brokers got here down on the trustworthiness of AI.
Whenever you use a generative AI service — similar to ChatGPT or an identical 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 normally correct, however I count on that in uncommon circumstances it’s going to produce factual errors — 34%
- Generative AI is sweet sufficient to be helpful, however I count on that it’ll continuously 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 enhance to their self-reported productiveness.
What an AI energy consumer appears to be like like
For Intel’s functions, we’re defining an AI energy consumer as an agent who stated that AI instruments have made them “significantly” extra productive.
This group is a small slice of the general agent inhabitants — representing 29 complete brokers in the latest survey — and their responses in consequence must be taken with a grain of salt.
That stated, just a few key variations did stand out of their responses to Intel.
Listed below are the 5 areas the place the AI energy consumer group regarded most completely different from the broader inhabitants of brokers.
For which of the next duties, if any, do you usually use AI instruments in your online business? 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 shoppers, similar to with a chatbot or different automated communication device — 24% of energy customers, vs. 9% of all brokers
- Producing evaluation or summaries of market knowledge — 45% of energy customers, vs. 18% of all brokers
Given the delicate nature of contracts and direct communication with shoppers, it’s not laborious 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 vital, and this advanced — these lesser-used capabilities may ultimately present a significant enhance to agent productiveness.
Methodology notes: This month’s Inman Intel Index survey was performed Dec. 18, 2024-Jan. 4, 2025, and had obtained 553 responses. The whole Inman reader group was invited to take part, and a rotating, randomized number of group members was prompted to take part by electronic mail. Customers responded to a sequence 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 group, which can not at all times match these of the broader actual property trade. This survey is performed month-to-month.
