AI: It May Be Your Biggest Opportunity in 2024

The entire business world is rapidly changing thanks to AI, and real estate is seeing quick adoption. Over the course of 2023, we saw how data analysis, automation and personalization fundamentally transformed lead generation and lead nurturing. So how can your team thrive in the years ahead? By implementing a plan for incorporating AI that focuses on those main three categories: data analysis, automation, and personalization.

The first way that AI excels is by analyzing data like trends and customer patterns, and it can provide deep insights into our businesses in ways not possible two years ago. Today, AI can sift through demographics, online behavior, and engagement data to pinpoint potential clients who are most likely to buy or sell a property, thereby improving lead generation. Across the country, we see brokerages gaining a competitive edge by forecasting market trends and upcoming changes to understand where and when to focus their prospecting efforts. Better and more actionable data will play a big role on brokerage’s ability to convert more customers.

Another way that AI can drive better lead nurture and conversion is by enabling efficient automation to deliver tailored messaging to clients. Most customers drop off through inefficient contact and follow up, and automation is a great way to stay top of mind. Automated communication tools can handle a broad range of tedious tasks from initial contact with a lead to scoring and segmentation, and these tools can take care of maintaining contact by email, text or even chatbot interactions. Enabling automation with AI to take care of the nurturing allows you to focus on the most promising opportunities with the most value.

Providing a personalized approach is a primary factor in whether a lead converts into a client, and this is an approach that experts in AI spend a lot of time optimizing. Every customer you interact with is different, and AI can analyze past interactions and engagement to determine what content, communication style, or method are most effective for each client individually. Creating a more personalized journey for your clients not only drives better conversion rates, it increases the likelihood of turning them into a long-term, repeat customer.

Effectively utilizing AI to cover these three categories for your brokerage can increase the number of qualified leads, lower marketing and administrative costs, and provide a more scalable approach to revenue growth. This explosion of technology adoption is something we have not seen since the .com boom, and those early adopters have a lot to gain by learning new ways to grow their business using AI-based tools. The real estate industry is known for early adoption of technology, so it is crucial for teams to partner with AI experts if they do not have the team in place to build these tools in-house.

The most successful companies in 2024 will be those applying AI in innovative ways, and PrimeStreet AI delivers the solution brokerages need to compete today. By combining the power of best-in-class AI tools and real human support, we nurture, screen and set appointments to drive lead conversion and productivity for all pros. PrimeStreet AI communicates with tailored and relevant touchpoints to engage leads through our analysis of prior conversations and identify the most transaction-ready clients from new and existing leads. Our AI nurtures and engages with clients until they’re ready to move forward, and our ISAs screen prospects before live-transferring to your agents. We only deliver confirmed appointments.

To learn more about how PrimeStreet AI can help your brokerage schedule more appointments and close more homes in 2024, visit primestreet.ai.

Aaron Glass is the head of Marketing for PrimeStreet.