Everyday AI Podcast – An AI and ChatGPT Podcast EP 193: Real Estate's AI Transformation - What's Next?
Jan 25, 2024
Cat Allday, VP of AI and Product Operations at AppFolio, shares insights on the seismic impact of AI on the real estate industry. She discusses how AI is transforming leasing processes and the entire resident lifecycle, promising enhanced efficiency and client relationships. Cat addresses common misconceptions about AI replacing human interaction, emphasizing its role in improving productivity. She also explores the challenges and advantages of AI adoption in real estate, highlighting the need for innovative thinking to overcome customer hesitancy.
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AI Leasing Assistant
- AppFolio's leasing assistant uses AI to interact with prospects via text, answering questions about apartments.
- This frees up leasing agents to focus on showing apartments and building relationships.
AI's Foothold in Real Estate
- AI initially gained traction in real estate leasing due to off-hour inquiries and lead loss.
- Generative AI is expected to expand throughout the entire resident lifecycle, impacting all interactions.
Seamless AI-to-Human Handoff
- Ensure a smooth handoff between AI and human interaction to avoid losing potential clients.
- Retain the context from the AI interaction, such as text conversations, to inform subsequent human interactions.