Real Estate Chatbots: You Should Know About This By 2023
Real estate is the top industry benefiting from chatbots, followed by travel, education, and healthcare. Chatbots are accessible round-the-clock for prompt responses, offer customers personalized discussions, staging appointments can be scheduled, updated, and follow-up processes can be automated.
The ability of AI chatbots to discern user intent and start meaningful discussions is another reason why real estate agents may rely on them to produce leads.
To demonstrate the chatbots’ full potential for the real estate industry, we investigate this article’s top 9 use scenarios.
Why are chatbots crucial in the real estate industry?
According to a poll, looking online for houses is a home buyer’s initial step, and choosing a property often takes 10 weeks. According to 9 out of 10 respondents under 62, property photographs were cited as the most significant aspect of online searches.
From the perspective of the customer, chatbots are advantageous when looking for properties to buy or rent because they offer the following:
24/7 service: Most property searches take place after business hours, making it challenging to get in touch with a live agent.
Instant responses: By accelerating response times, companies using chatbots in their customer service departments can save up to 30% on costs.
Multiple language options are crucial for foreigners relocating where their native tongue is not spoken.
Beyond text interactions: Chatbots can, for instance, guide consumers through a property’s gallery of images or pictures, which is particularly useful for properties with plenty of pictures. After seeing the images, people may ask the bot more questions immediately or go on to another house.
By letting chatbots handle these inquiries, real estate agents can concentrate on discovering properties and perfecting their marketing plans. The annual salary savings from chatbots might reach $23 billion.
The top 9 features for chatbots in real estate are as follows:
1. Produce leads from online users. Users will typically see chatbots when they access a website. Real estate chatbots can start a discussion with a website visitor by asking whether they want to purchase, sell, or rent something and then asking for their contact information.
Then, chatbots can communicate with potential clients by emailing or texting them about promotions and campaigns for rental houses or properties relevant to their search queries.
2. Create client profiles. Chatbots can inquire from users to learn their preferences for:
- Zone, city, or town
- Financial requirements (e.g., rent, buy, lease)
- Property Class (e.g., apartment, house, condo)
- Amount of rooms, bathrooms, backyard possibilities, and alternatives for an open or closed garage
These details can be gathered from users by chatbots, which can then use them to profile each user and present them with tailored real estate options and listings.
3. Respond to inquiries regarding properties. Users looking for homes to buy or rent could have inquiries regarding the properties that need to be explicitly answered online, like the typical monthly payment, the building’s history, and prior owners or renters.
4. Provide virtual tours of properties. Chatbots can offer a link to a virtual 360° tour of a property if users are interested in it but aren’t ready to set up a viewing appointment just yet. This will give users a better understanding of the house’s outside and interior. This capability is especially useful now that there is a pandemic because it may not be wise to physically inspect a house due to health concerns.
Users can also ask the bot to show them a particular room or aspect of the property or to give them more details about the rooms’ dimensions.
5. Arrange to view properties. Through the chatbot, users can arrange a live agent walkthrough. Real estate chatbots can be trained to look for available days and times on an agent’s calendar and show customers the options.
When users select a day, the chatbot will automate scheduling, add the event to the agent’s calendar, and ask the user to confirm via email or text message.
6. Follow up after property viewings. Following property viewings, chatbots can contact clients directly via texts or emails to inquire about their buying decision or offer other options if they are still browsing.
Customers are kept interested in the agency through follow-up. After making initial contact, texting people increase levels of engagement. For instance, it’s reported that follow-up SMS can increase engagement by as much as 113%.
7. Examine your loan alternatives. Users can use chatbots to apply for a mortgage, inquire about advice for qualifying, and verify their eligibility for a mortgage. Real estate agents connect their chatbots with affiliated banks or lending organizations to inform clients directly about their financing alternatives.
According to a poll, 16% of purchasers seek online guidance on obtaining a mortgage and general home-buying advice, while 14% submit an online mortgage application.
8. Gather testimonials
A chatbot can contact a consumer via customized emails after they’ve completed a purchase or signed a rental agreement to invite them to complete a survey about their experience or via texts to engage in discussion and ascertain their level of satisfaction with the company.
Moreover, gathering consumer feedback enables companies to identify the advantages and disadvantages of their tactics. Customer reviews can also be posted on social media or commercial channels to boost credibility and sway prospects and clients’ decisions when selecting a real estate agency.
9. Examine industry trends. Chatbots can record the discussions you have with leads and customers. This data can be loaded into analytics tools to comprehend the present real estate market needs, evaluate search queries for patterns, and generate forecasts about market conditions, investment prospects, property buying, and prices.
What are the best practices for real estate chatbots?
You may want to think about implementing the following best practices to get the most out of your real estate chatbot:
- Connect the chatbot to your company’s social media accounts. According to statistics, social media participation generates 45% more potential for sales.
- Add property photographs and videos to the chatbot database to boost the likelihood of viewings and consumer engagement. Finding property floor plans was ranked as the most crucial aspect for internet searches by 55% of respondents who were prospective house buyers.
- Allow the chatbot to suggest details regarding upcoming open houses.
- Add a conversation feature to internet advertisements. When a user clicks on the advertisement, they will speak with your chatbot, who will give them information while obtaining their contact information for future correspondence.
Both real estate chatbots and other marketing chatbots can use these strategies. Please read our in-depth post about chatbot development best practices to learn more about general best practices.