Best AI Real Estate Solutions in 2024

Ongoing global pandemic restrictions have directly impacted traditional real estate processes—and, quite shockingly, for the better.

Thousands of firms, realtors, appraisers, mortgage lenders, and others have had to navigate the crisis by integrating fast-evolving PropTech, and for a good reason. Sophisticated AI solutions for real estate can handle predefined data flows, learn user behavior, streamline and accelerate workflows, and enable more accurate appraisals and near-term market predictions.

Homeowners, potential renters, and buyers are embracing these real estate AI apps, and investors know and recognize that real estate is the worlds’ largest asset class (as stated by Harvard Business School professor Arthur Segel). The value of housing in the U.S. is $16 trillion, and real estate is the highest wealth source for most families.

These ten companies deploy AI in real estate in exciting and impactful ways to quickly engage with prospects, increase sales, manage tenants and properties, and more.

TRIRIGA

IBM’s TRIRIGA application AI tool competently manages and cuts space wastage in real estate offices. According to JLL research, 30-40% of corporate workspace is currently underused, which could mean thousands of dollars in cost-efficiency. This smart AI assistant learns how staff use space, collects this data from various sources – such as Wi-Fi and connected sensors and presents the info in a bite-sized format. The icing on the cake is the system’s voice-only engagement option.

Houzen

Houzen is a simple, fast, and efficient tool for homeowners needing to find a realtor fast. Within 24 hours, it filters agents by local expertise, accreditations, and success rates. This tool fast-tracks the entire workflow. The app closes deals faster than current methods by studying the user’s willingness to pay.

Hyro

Hyro is the world’s first Adaptive Communications Platform for real estate. Hyro’s round-the-clock AI agents step in whenever busy realtors can’t, capturing every lead from call centers, SMS, and web-based inquiries.

With access to fresh conversational insights, property management companies can optimize their digital channels to maximize their conversion rate.

Rather than growing customer service teams, deploying AI virtual assistants with NLU-powered insights and voice, text, and touch capabilities, realtors, can enjoy 2-way communications to manage relationships with potential buyers and renters and existing tenants, boasting better interactions, engagement, conversions, and retention.

Rex

Rex real estate agency’s mission is to take the confusion and stress out of selling and buying a house. Rex uses AI to replace agents by tracking user behavior on their site. It displays ads matching user interests and harnesses intelligent algorithms to analyze homeowner history data to discover buying abilities.

Zillow

This well-known AI real estate app supports qualified lead generation. Zillow processes diverse data points to distinguish between serious leads and the curious. The app finds listing types that clients are searching for and pairs them with relevant offers. It also tracks data from online searches, clicked ads, and browsing activity on REX portals.

The outcome? Personalized recommendations, proper resource planning, 3D walking tours, and time-saving for agents.

Compass

Using AI for real estate, this app is used by more than 14,000 agents across 100 U.S. cities to find and sell properties. Similar to Zillow, the app offers users personalized commendations based on their previous searches and interests. It also uses CRM-integrated AI to keeps agents updated on customer behavior.

Compass CEO Dominic Blakemore says that “the process of buying or selling a home is often thought of as daunting and difficult, and Compass is changing that. All of our software, tools, and programs are designed to empower sellers, buyers, and agents to have the best experience and ultimately find their place in the world.”

Redfin

Unlike Rex, Redfin uses real estate AI to help agents in their jobs, not replace them. It simplifies customer search and requires only a 1% commission per sale. An AI Matchmaking Tool analyzes statistics to recommend homes to prospective buyers. It also publishes current housing market data extremely fast. For example, its Thursday update COVID-19 Weekly Housing Market Data:

HouseCanary

Cost estimations and predictive analytics is a perfect application of AI to real estate. HouseCanary’s AI software evaluates current and near-future house prices. It does this by analyzing data from the last 40 years, generating forecasts with a mere 2.5 margin error, meaning wise buying decisions and higher customer conversions.

Truilia

Trulia enables customers to browse original neighborhood photos, drone footage, resident reviews, and local insights to find their perfect living place. Again, intelligent AI algorithms allow the app to memorize browsing criteria and preferred items to recommend options – even construction materials to wall colors from liked photos. The outcome is a highly personalized user experience.

Skyline AI

Skyline AI establishes next-gen, AI-augmented commercial investment management solutions by partnering with leading commercial real estate firms. The company also offers an investment calculator, and its deep-dive analysis into years of past deals helps predict market trends, such as rental costs and ROI for buyers.

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About the author

Aaron Bours VP Marketing, Hyro

Aaron is Hyro’s VP Marketing and a conversational AI expert with almost a decade of experience under his belt working on next-gen natural language-enabled technology, including Google Duplex. Aaron is a former New Yorker who now spends his days casually knowing where all the coolest spots in Tel Aviv are without ever really trying.

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The 10 Best AI Real Estate Solutions in 2023

TRIRIGA

Houzen

Hyro

Rex

Zillow

Compass

Redfin

HouseCanary

Truilia

Skyline AI

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