The rise of AI has changed the way people look for homes. Instead of looking for ads in the neighborhood, they now start their search online. These apps and websites then suggest homes based on their details. Artificial Intelligence has made finding your dream home easier than ever, and as AI gets better, it will only continue to affect the real estate market. Here are a few ways artificial intelligence is changing real estate. 

AI Provides Recommendations

The complexity of the real estate industry makes it hard for agents to understand their customers. Without this, they can’t suggest the best property options for their clients.

Through the use of AI, agents can convert their client’s feedback into valuable data that can be used by the AI to provide better recommendations, whether it be houses, neighborhoods, local climate, or whatever else the client may be looking for.

AI Helps Calculate Mortgage Costs

One of the most complex and time-consuming tasks in the real estate industry is mortgage calculations. With the help of AI, agents can now complete the calculations much faster.

One example is the AI platform CoreLogic. CoreLogic’s AI-powered platform helps real estate agents and brokers complete their tasks more efficiently. It can also help them with loan and income calculations. 

AI Makes The Entire Buying Process Easier

The entire buying process can be a bit time-consuming for people, but with the help of AI, it’s getting better.

One company that’s successfully using AI in the real estate industry is JetClosing. It’s a platform that helps sellers and buyers complete their transactions faster and with better transparency. Using the power of artificial intelligence, JetClosing has forgone paper forms and migrated everything to the cloud. 

AI Can Predict Property Values

AI is also helping real estate agents predict the future value of a property in their target market. Through the combination of data from various sources, such as transportation, schools, and crime, the platform can provide actionable insights.

Skyline AI, a tech company that specializes in real estate investment technology, uses AI to predict the future rent of a property as well as identify market trends for possible business opportunities.