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- Real Estate Agents Are Getting Replaced By AI To Sell Homes
Real Estate Agents Are Getting Replaced By AI To Sell Homes
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Key Takeaways
AI-powered tools are increasingly automating tasks like property valuation, market analysis, and personalized home recommendations, reducing the need for traditional real estate agents.
Virtual tours, chatbots, and smart contracts enabled by AI streamline the home-buying process, offering buyers faster and more efficient experiences without human intermediaries.
While AI can handle data-driven aspects of selling homes, human agents still provide value through negotiation skills, emotional intelligence, and personalized client relationships that technology struggles to replicate.
Artificial Intelligence (AI) has taken the real estate industry by storm. If you are not learning how to adapt this technology into your business, chances are you will fall behind in real estate in the years to come.
The craziest part is that most realtors think that AI is just ChatGPT. However, while ChatGPT is a part of the AI landscape, it is not the whole story—it is actually based on something called a language learning model (LLM), which is just one component of the broader AI technology being used in real estate today.
In fact, there are entire AI systems explicitly designed to assist with buying, selling, and managing properties!
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The Reality Of AI In Real Estate
AI is making significant strides in real estate, offering tools that streamline operations and improve user experiences. You may not know this, but since 2024, AI has already been used for tasks like personalized property suggestions, forecasting market trends, and automating administrative work.
One example is Wavie, an Australian-based real estate platform that simplifies the selling process, allowing homeowners to create listings, manage inquiries, and negotiate directly with buyers, offering professional photography, floor plans, and virtual tours.
First featured on 9News, the platform is cutting out the need for real estate agents, meaning there is no commission or upfront cost, as the platform will be relying on AI agents to handle the negotiations. In addition, Wavie also facilitates every step of the sale, including advertising on major websites through AI agents.
Also, most recently, Porta da Frente Christie’s, a real estate brokerage based in Portugal, has recently made headlines by leveraging an AI-powered agent to generate over $100 million in property sales through a partnership with eSelf AI, an Israeli startup that developed the technology.
The AI agent is designed to handle customer interactions 24/7, providing instant responses to inquiries, personalized video-based engagement, and virtual property tours. This capability allows it to manage leads efficiently across different time zones, overcoming the limitations of human agents who cannot possibly retain and recall detailed information about the firm’s extensive portfolio of over 5,000 properties.
Is AI Going To Take Over Real Estate Agents?
Let me be the first to tell you that, no, you won’t be replaced by AI. However, those who use AI to their advantage will eventually replace you.
Therefore, real estate agents who do not comprehend all these will eventually be replaced by artificial intelligence.
Let’s convey an example: AI is like the tractor. Centuries ago, there were farmers who did everything manually, and then the tractor came along.
Certain farmers did not adapt to the tractor, and certain ones did. The ones that did had their jobs just changed, but they are still farmers. The ones that did not got replaced.
So, as a realtor, you need to understand that AI is not going anywhere. You can either adapt it to your business or ignore it and eventually get replaced.
Chinese-Canadian entrepreneur, author, and motivational speaker Dan Lok even shares the same sentiment that AI will not be able to take over the industry. He highlighted:
"We invest in technology as venture capital firms. I think the agents who use AI to be more efficient will dominate the market. Think about this: with the internet, and even with a lot of automation for real estate—let's say contracts or everything else—real estate is a very personal business. As an agent, you're kind of the middle person between the buyer and the seller. There's a reason why there's a buffer for so many years. If you think about it, they could have easily bought and sold on their own, but why such a big industry? Because there needs to be that buffer. Sellers don't want to show the home themselves; they need someone in between who's the facilitator. So, I don't think it's going to replace everything, but it is going to change the industry a lot for sure."
Final Thoughts
With all of that being said, this development marks a pivotal change in the real estate industry, illustrating how AI can revolutionize customer service and operational efficiency.
With some forecasting that real estate agents may eventually be obsolete in their current form, could this evolution signal the end of traditional roles in the industry, or is there still a place for human expertise in this new landscape?
Time will tell for sure.