Revolutionising Real Estate: How Technology and AI Are Reshaping Home Buying - AITechTrend
AI reshaping real estate

Revolutionising Real Estate: How Technology and AI Are Reshaping Home Buying

In the ever-changing world of real estate, technological breakthroughs and artificial intelligence (AI) are redefining the way homes are marketed, viewed, and sold. Adam Cannon, who leads The Cannon Group at Piatt Sotheby’s International Realty in Pittsburgh, compares the internet house-hunting process to swiping through dating apps. He notes that typical listing images frequently fall short of conveying a property’s spirit, especially when the house is vacant or still under renovation.

Revolutionising Real Estate: How AI Integration is Reshaping Industry Standards:

Cannon observes, “People can’t wrap their heads around an empty room. It is not sexy.” This difficulty is confronted head on by a slew of technical tools, like digital staging, drone tours, 3D photo walkthroughs, and immersive virtual reality experiences, which are rapidly transforming the home-buying experience.

Sarah Madia, a seasoned agent with RE/MAX Select Realty, emphasises the necessity of tailoring marketing strategies to each property she represents. She adds that the more information potential buyers have, the better they can see themselves in the home. Media uses technology to improve listing displays, from digitally staging vacant properties to using artificial intelligence to reimagine outdoor spaces like carports as additional leisure areas.

Madia’s rigorous technique entails picking certain furniture styles and colour palettes, which are then digitally staged by graphic artists. Despite AI aid, the procedure is still quite hands-on, requiring numerous rounds of modifications to maintain accuracy and appeal.

Chris Dickson, president and broker of record at Piatt Sotheby’s International Realty, underlines the emergence of more creative strategies to exhibit houses, especially in light of pandemic constraints. The agency has experimented with virtual home tours, employing headsets such as the Meta Quest and now the Apple Vision Pro, which allow remote viewers to explore properties from anywhere in the world.

Dickson highlights his partnership with Perspectrum, a local media business, to develop realistic virtual reality walkthroughs with an unrivalled sense of scale and perspective. This technology enables prospective buyers to see fine aspects of luxury residences, such as beautiful ceilings and woodwork, as if they were physically present.

In addition to virtual reality, experienced drone pilots are hired to film spectacular aerial footage, giving prospective purchasers a complete picture of a property’s surroundings and layout. Dickson predicts that these technologies will become more accessible in the future, despite their current limitations due to cost and complexity.

Ryan Riley, a real estate advisor for The Cannon Group, emphasises how technology may help listing agents discover the perfect buyers. While recognizing that the physical experience of visiting a home in person is still vital, he emphasises the value of technology-assisted solutions, especially for out-of-town purchasers or those interested in new construction.

As technology advances, the real estate business is set for more disruption. The combination of AI, virtual reality, and drone technology not only improves the purchasing experience, but also allows agents to reach a larger audience and make more informed decisions. In this continuously changing industry, staying ahead of the curve with innovative technologies is critical to success in the modern real estate market.