AI Powered Property Search

The next evolution in Real Estate

Tuesday, September 12th, 2023

In the last two decades, digital portals have changed the way we look for properties. Websites aggregating property listings emerged as the frontline players, giving both buyers and estate agents unparalleled access to markets. While these platforms certainly democratized property search, it's time for another monumental shift in the industry. A new era of AI-powered property search has ushered.

From Keywords to Conversations

Traditional property portals, while significant in bridging the information gap, rely heavily on a keyword-based search model. Think of the countless times users type in specific keywords on Google, only to find portals that rank high for those terms, leading to a funneling effect where a few major platforms dominate the discovery process. While useful, this model presents two challenges: 

1. Estate agents pay hefty fees to portal to ensure their properties are discovered.

2. Users are still left sifting through numerous listings to find their perfect match.

An AI-powered property search agent, however, transcends this system. Think of it as a personal real estate concierge that understands your exact needs. Want a two-bedroom apartment with a park view, close to a metro station, and pet-friendly? The AI delves into its vast database, scanning through myriad properties, even from individual estate agent websites, to find you the perfect match. In essence, the AI levels the playing field. Estate agents no longer solely rely on high-ranking portals. Their properties, listed on their websites, are as easily discoverable by the AI as those on major platforms.

Accuracy, Convenience and Beyond

The beauty of this system lies in its accuracy. While keywords are generic, AI understands context, nuances, and even emotions. Whether you interact through chat or voice, the system comprehends intricate details of your requirement, ensuring the results aren't just accurate but also aligned with your vision of a dream home.

And there's more. A picture is worth a thousand words! Users and Agents can search with images to find places and properties they belong to, or those that look and feel similar. Visual Search by AI Agent adds a completely new dimension to bringing buyers and homes together in a way that they belong to each other.

Empowering Estate Agents

While users enjoy unparalleled convenience and precision, it's the estate agents who stand to gain immensely. The expensive subscriptions to 3rd party property portals? Those could become irrelevant. With AI-powered search agents, properties listed on an agent's website become as discoverable as those on any major platform. This democratization means that estate agents can focus more on curating quality listings and less on the economics of property portals. Think of it as every Agent with their own well known flagship store, rather than being a small concession in a department store 

Accuracy and Convenience at your Fingertips

For potential home buyers and renters, the AI search agent is nothing short of revolutionary. Instead of wading through page after page of listings that do not match their vision, users receive precise matches across Interactions aren't limited to just typing; voice searches, increasingly prevalent in our digital interactions, take prominence. Whether you're voicing out your dream property's features or typing them in, the AI system ensures your specifications are met with unmatched accuracy.

Discovering the OffMarket Homes

Perhaps the most groundbreaking feature of this innovation is the discovery process of the discreet off-market properties. These are homes that, for various reasons, remain hidden from traditional searches. With the AI-powered agent, these properties are no longer ghosts in the system. While the AI ensures privacy by not revealing specific property details, it notifies users of potential matches, guiding them to the respective estate agents. This singular feature is a game changer for Estate Agents and for potential buyers, enabling them to connect to each other, meaningfully and reasonable, across geographies.

Beyond Bard and Bing: Specialised Searches

While generic AI-powered search engines like Bard and Bing AI are transforming internet search, they lack the specialisation required for property searches. AI dedicated to real estate understands the market's intricacies, nuances, and evolving trends. By focusing solely on properties, AI property search agent promises results that are both comprehensive and relevant.

The Future is AI Powered

AI evolution is changing the landscape across businesses, professions and human societies. In the property market, it will touch and enhance various areas of operations, be it listings, marketing and communications, or exchange and completions. 

We believe that the impact of AI on property search and selection will be dramatic - transformational. Even more than the emergence of 1st generation internet portals had on it. And its not a distant dream, but an impending reality, to be introduced in the PCL market very soon.

For estate agents and users alike, this heralds a future of increased autonomy, unparalleled accuracy, and infinite possibilities. Welcome to the future of property search — it's intelligent, intuitive, and inclusive.

written by Rajesh Goenka, on 9/12/2023.

Featured articles