Barbara Corcoran: 5 Ways AI Will Transform the Real Estate Market
Written by
Jennifer Taylor
Edited by
Cory Dudak
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
AI could bring lasting changes for real estate agents. The ‘Queen of New York Real Estate’ Barbara Corcoran sees this as a positive transformation, as it has the potential to streamline business.
In a LinkedIn post, she said AI couldn’t replace agents, as the job requires a human element. Instead, she said savvy agents will find ways to make AI work for them.
Embracing this technology could help them become more efficient, effectively revolutionizing the industry. Keep reading to learn five ways Corcoran believes AI will transform the real estate market for good.
Administrative Tasks
They’re part of nearly every job, but administrative tasks can take up a lot of time real estate agents could be using elsewhere. AI tools like Mave allow them to automate tasks like marketing, content creation and pulling comparable sales so they can focus more on building client connections.
“The same kind of documents you had to review that would take an hour, you’d see in two, three minutes,” Corcoran told Moneywise. “People are writing emails and texts explaining the market to their customers.”
Customer Service
AI also helps agents better communicate with clients, which can make a sale more personalized, Corcoran explained. This can include translation services for agents working with international clients when a language barrier is present.
One tool real estate agents can use is Roof AI. This is designed to help provide clients with personalized service during every step of the home-buying – or renting — process.
Creating Listings
Listing descriptions are a big part of selling a home, so they have to be carefully crafted. However, ChatGPT can write them in a matter of seconds.
Corcoran touted AI’s ability to “write clear listing descriptions” in her LinkedIn post. This can save agents a great deal of time, as well as potentially improve the readability of the content.
An option for agents to consider, Sidekick can be used to create listings, manage calendars and email inbox, summarize documents, pull listing data from the MLS and more.
Create Better Virtual Tours
These days, it’s not uncommon for real estate listings to include virtual home tours. On LinkedIn, Corcoran said these could become more realistic, thanks to AI.
An AI tool that can help, CubiCasa, allows agents to create realistic virtual tours to enhance their listings.
Generate Targeted Leads
Real estate is all about making sales. Whether they’re representing buyers or sellers, agents need a steady stream of clients to earn commissions.
In her LinkedIn post, Corcoran said AI has the potential to help agents generate targeted leads that can turn into new clients. If it’s easier for agents to connect with the right people, this could save them time and help increase revenue.
Two AI lead generation tools real estate agents might consider using include Top Producer and Offrs.
More From GOBankingRates
Sources
- Barbara Corcoran (LinkedIn)
- Moneywise, “‘This is a game-changer’: Shark Tank’s Barbara Corcoran says this 1 big megatrend is about to alter US real estate forever — are you prepared to profit or will you panic?“
