Reports suggest that about half of all estate agents in the UK are embracing AI, primarily to enhance their efficiency. This is both bad news and good news for home sellers.
Certainly AI can do wonderful things for properties for sale. Visually, it can magically transform the appearance of the bare, empty, space of an unfurnished or unmodernised house into a completely refurbished and beautifully furnished home, so buyers can see the potential brought to life. And by the way, this is perfectly legal as long as it is made clear in the property details that this is a computer-generated image, it’s simply a way of producing more imaginative property details.
However, the flip side is that buyer might be disappointed when they actually visit the property. That’s down to the agent’s skill in finding the right balance. So from a consumers’ perspective, AI can help your property sell in terms of presentation.
Progressive estate agents will also use AI to ensure that no enquiries slip through the net, that buyers are well qualified, appointments can be made out of hours, mortgage offers and conveyancers are chased up automatically.
This is all genuinely good for buyers and sellers, because it takes the potential for human inefficiencies out of the equation. So when you’re selecting an estate agent, do make sure you choose one who fully embraces these efficiencies and they can describe to you how their system works.
However, one flip side of which to be aware is this: Many agents are also using to enhance their own business efficiency. On the surface this seems fair enough. But it means that agents can now apparently keep in touch with you, send you regular mailers and market reports, and enquire if you are ready to move without lifting a finger.
Even a low grade and ineffective estate agency may appear very switched on because of this, but they are effectively punching well above their weight.
So, don’t be deceived. Do your initial research on Swoople.com to get a a real feel for your shortlisted estate agents. Certainly, assess their methods, and especially their sales successes. Do they regularly sell properties like yours? Do they achieve their asking price most of the time. What percentage of their listings have been reduced? How long has their average property been on the market. Importantly, do you like them and feel they are worthy of the trust you will be placing in their hands.
Whilst AI is incredibly helpful in the property industry, it is ultimately an individual at a respected estate agency that will be accountable to you. So choose well, and hold them to it!