We have already talked at length about how artificial intelligences are gradually making their way into various fields of work. In practical terms, their possibilities can be infinite. The real estate sector has joined the AI fever and it may be that in the not too distant future, this technology will completely change the market.
The release of ChatGPT to the public has meant that many have decided to incorporate it into their work routine. And it hasn’t just affected the working world: the way we buy and manage properties will also change radically because of it.
From contract automation and drafting to policy reviews, AI is more than ready to streamline all cumbersome processes and improve efficiency.
However, we still have to wait for the creation of an AI fully adapted to the needs of the real estate sector, in this case. Virtual assistants for management, marketing, market research… the potential for development is enormous.
Contract drafting and review by an artificial intelligence?
ChatGPT and other similar tools can be of great help when it comes to writing the long-winded legal documents, such as contracts and insurance policies. This technology can ensure that all the necessary information is in a single document and that it complies with all relevant laws. In other situations it can be used to identify and correct errors, which would greatly help to reduce all kinds of legal wrangling.
DocuSign, the market-leading electronic signature company, has an artificial intelligence-based tool to automatically generate and review contracts. As a result, processes are streamlined and the risk of errors is reduced.
On the other hand, professions within the real estate world can also benefit from artificial intelligences. For example, virtual assistants could help make appointments and assist clients in providing information. Redfin, a popular real estate listing platform, uses AI to automatically rate properties, for example.
When will we experience the integration of AIs in our lives?
Although there are already many solutions and tools that use the benefits of artificial intelligence, the truth is that we still have to wait before it becomes a standard. We do not know when the final leap will be made, since everything depends on the progress of the tools and the laws that regulate them.
Today, there are already models such as ChatGPT that are more than ready to dive into the working world. However, there is still a lack of more specialized tools. Will we see in the future an AI focused exclusively on the real estate sector?