In today’s digital age, AI-powered tools are changing the way we interact with various industries, including real estate. Chatbot technology has significantly shifted how businesses engage with customers and streamline processes.
This guide will take you through everything about real estate chatbots. We will also learn about their incredible potential and the numerous benefits they provide. This guide empowers real estate agents and potential homebuyers with the knowledge and tools to maximize the potential of cutting-edge technology.
We will begin by understanding the fundamentals of chatbots, breaking down their functionality, and how they work within the context of the real estate industry. In the blog post, you will get details about several aspects of chatbots in the real estate industry.
What is a real estate chatbot?
Real estate chatbots are AI-enabled bots that are used by real estate companies to interact with potential clients in order to gather and qualify leads for their online marketing campaigns. These chatbots can be integrated into various platforms such as websites, mobile apps, and communication channels like Facebook, WhatsApp, Instagram, and more. They are especially useful for the following groups of real estate professionals:
- Expert Agent: Agents looking to improve lead generation and sales can make the most of their time by giving website visitors the right attributes and validating those leads using a chatbot.
- New Agent: Chatbots can also assist new agents in their efforts to grow their online presence, build networks, engage in local events, and allocate time for potential sellers during appointments.
- Team Leader and Broker – The broker and team leader can also use chatbots for several uses, including entering contact information into CRM.
Clients and real estate agents can take several advantages, like saving time, money, and other resources from chatbots. This tool can make the work of a real estate agent more accessible and straightforward.
Assume you are busy with your current real estate project and don’t have time to attend to new clients. In that case, you will surely lose new clients when they try to contact you.
Indeed, it takes time to generate leads from the beginning. But to succeed in the real estate world, you must gather as many leads as possible to keep on a healthy pipeline.
Everyone knows that most home buyers and sellers initiate their property search online. It makes sense for real estate agents to use tailored chatbots and real estate marketing platforms to improve their sales funnel and facilitate growth.
It can be challenging to convert all online traffic into leads due to financial complexities. However, real estate chatbots can help you utilize online traffic to generate leads and convert them into customers.
Top uses cases of chatbots in the real estate industry
Chatbots can be a game changer for your real estate business because they can perform a variety of tasks with ease. Below are the top use cases of chatbots in the real estate industry:
- Schedule property visits and virtual tours
Virtual tours and property visits are essential in the real estate industry. Real estate businesses receive uncountable queries about property visits and virtual property tours daily. However, handling all queries can be complex for an agent.
Chatbots can easily schedule a property visit appointment in a few seconds without the assistance of an agent. Moreover, they can also take your customers on a virtual tour around a property to help them make a wise decision for an on-site property visit.
- Offer mortgage options
The mortgage is another crucial thing in the real estate industry. As per stats, 14 percent of buyers apply for mortgages online. Chatbots can also help your potential customers to find the best mortgage option.
You can integrate your chatbot with a partner bank or financial institution and assist your potential customers with basic answers to mortgage queries. You can also train your chatbots to check mortgage eligibility and its FAQs. Moreover, chatbots can also help your customers to apply online.
- Automate follow-up and feedback
Indeed, many website visitors will look at your listing and then leave. No one knows the reason behind the abandonment of your website visitor. However, it is crucial to learn the exact reason.
Chatbots can help you follow up and identify what is wrong with your website. Moreover, these chatbots can collect feedback after each conversation with your clients. By demonstrating the importance you place on customer information, you can add value and gain valuable insights to enhance your performance.
How can chatbots improve your real estate business?
In today’s business world, the real estate sector is marked by fierce competition. Beating the high competition is a complex task for many agents. However, chatbots can help you to outperform the competition. Following are the top ways in which chatbot can help you to improve your business:
- Boost your earnings
Yes, chatbots can assist you in increasing your earning. As per stats, agents have experienced a 30 to 150 percent increase in lead generation. If you’re an experienced real estate or property agent, you might be aware that buyers search for new properties online, mostly at night or off-hours. If you are unable to attend to your clients during off-hours, you will undoubtedly lose the majority of your potential clients.
This does not imply that you must be available 24/7 on your website to respond to potential clients, as a chatbot can handle interactions even at night or outside of regular business hours. These bots allow agents to generate leads even when they are not actively working. This means that the sales team will be able to wake up every morning to new leads generated during their rest period.
- Provide specific detail to each user
Every user desires specific information regarding the property they are interested in. Chatbots can efficiently provide specific and valuable details to your clients by asking relevant questions. This is a significant improvement compared to traditional data collection methods that involve lengthy forms and require continuous user engagement throughout the process.
- Increase customer engagement
Traditionally, forms were physical copies that were prone to be misplaced or discarded. Nowadays, online forms have replaced traditional forms, but they still lack interactivity and effectiveness in capturing customer attention.
Chatbots in the real estate industry enable customers to engage in real-time interactions, addressing their queries while simultaneously collecting valuable information regarding their preferences.
- Faster Response
In today’s fast-paced world, no one wants to wait in a customer support call queue. Research by NewBreed shows that if companies take more than five minutes to respond, the chances of qualifying a lead decrease by 10 times.
Chatbots are powerful tools that can respond to any customer query in a matter of seconds, 24 hours a day, 365 days a year. Furthermore, they do not take a week off, have bad days, or compromise their services. The best part about this tool or bot is that it can handle several queries at the same time.
- Streamlining rental services
Rental services are among the most essential services for real estate businesses. Traditionally, customers have to fill out a lengthy and tedious form to find the best property for rent. Moreover, they had to wait until the agent found the best property.
Chatbots have changed the way customers find rental listings, making it more accessible for real estate businesses or companies to get potential clients. They can ask customers about their budget, property type, and location.
Chatbots use this information to locate the relevant listing in their database and present appealing options to users. Customers can instantly express their interest in the listings and provide their contact details for future communication.
How can a property management chatbot qualify leads?
Agents use chatbots to improve their customer service, leads, and marketing. Chatbots can help businesses to improve operational efficiency and decrease the overall cost. Below are the top ways in which chatbots can qualify leads:
- Buyers or renters might ask a question about the property at any particular time of the day. Chatbots offer round-the-clock accessibility, enabling businesses to interact with customers and respond promptly to sales inquiries, assisting in lead qualification.
- Chatbots understand the importance of each conversation. They can sort the conversations into three categories- low, medium, and high priority. As per that data, they prioritize communication that requires immediate attention.
- Chatbots pre-screen and filter leads by asking your customers relevant questions. By filtering the lease, they save time and money while allowing an agent to focus on the most important client.
Conclusion:
This ultimate guide for real estate chatbots has provided a comprehensive understanding of this game-changing technology and its immense potential within the real estate industry. Throughout this guide, we have highlighted the benefits of implementing chatbots, such as enhanced customer service, 24/7 availability, lead generation, and personalized experiences.