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10 ways a real estate chatbot can improve my business

Updated on
Apr 9, 20238 min read
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    Table of content

  • What is a real estate chatbot?
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  • Top 10 reasons you should use real estate chatbots to improve your business.
  • How can chatbots help your real estate business? 
  • The final thought 

Life-saving chatbots exist. Have you ever considered a chat-based automated virtual assistant for real estate?

Real-time help is essential to surviving in the fiercely competitive real estate industry. The demand for real estate chatbots has increased four times over the past ten years because of advancements in the field.

The poll shows roughly 50% of home purchasers go online for lists. Additionally, using real estate benefits chatbots by up to 28%.

Real estate chatbots can assist in advancing buyers to the following level by letting you know where they are in the pipeline. An example of a chatbot in real estate would answer common questions about properties so that agents have more time to work on other important responsibilities.

However, the greatest chatbot for real estate goes beyond merely answering client questions. They can be any realtor's best assistance if handled properly.

This blog will walk you through the top ten advantages for real estate companies, buyers, tenants, and property owners.

What is a real estate chatbot?

A real estate chatbot is an AI-powered software application designed to assist buyers, sellers, and agents in the real estate industry. It can be integrated into a real estate website or platform to provide personalized assistance and support to users through buying, selling, or renting.

Using natural language processing and machine learning, real estate chatbots can understand and interpret customer inquiries and respond in real-time with helpful and relevant information. They can assist with various tasks, such as property search, scheduling property tours, answering property-related questions, providing property details, and facilitating negotiations and offers.

Real estate chatbots can be particularly useful for agents, as they can automate tasks and improve lead generation efforts. For example, they can be programmed to ask prospective buyers questions about their preferences and budget and then provide personalized recommendations for properties that meet their needs. Chatbots can also help agents with lead qualification and nurture by engaging with potential buyers, answering their questions, and scheduling property tours.

Real estate chatbots can help property managers improve customer service and reduce workload. Chatbots can provide 24/7 support to tenants, answering common questions about rent, maintenance requests, and lease agreements. They can also help with the leasing process by answering questions about available units and scheduling tours.

Top 10 reasons you should use real estate chatbots to improve your business.

1. Easier appointment scheduling 

Real estate chatbots can serve as the personal secretaries of salespeople by making it simple for customers to make, change, or cancel meetings with them. Buyers and renters can even arrange direct property visits on the chatbot. You only need to link your real estate chatbot to your agency's schedule. 

Once everything is set up, you can instruct your chatbot to notify you through email or text each time a customer schedules, changes, or cancels a meeting with one of your salespeople. To take things a step further, you can teach your chatbot to ask a few questions to customers each time they schedule an appointment so that it can produce a summary of the data you need to know about the client.

2. Schedule property viewings

A chatbot may be a huge asset to conversion once you've nurtured a lead down the sales funnel.

Plan an in-person tour of a property of their choice with a chatbot—one of the most exciting things you can do. The chatbot is an effective intermediary in this discovery phase by introducing the prospect to the real estate agent.

The real estate agent can then contact the potential buyer personally and encourage them to make a transaction.

3. Real-time inquiries

Chatbots can instantly answer inquiries from visitors to your website. They do not need to wait for a human representative to assist them in getting details about the property.

4. 360-degree virtual tours

Suppose a user is interested in a specific home but is not ready to schedule a viewing. In that case, chatbots can provide a link to a virtual 360° tour to give them an impression of the interior and exterior of the house. This capability is especially useful now that there is a pandemic because it may not be wise to inspect a house due to health concerns physically.

Users can also request that the bot show them a particular room or feature in the property and provide more info about the rooms and measurements.

5. Check for mortgage options

Users can use chatbots to apply for a mortgage, inquire about advice for qualifying, and verify their eligibility for a mortgage. To inform clients directly about their experiences with financing alternatives, real estate agents might integrate their chatbots with affiliated banks or lending organizations.

According to a poll, 16% of purchasers seek online guidance on obtaining a mortgage and basic home advice, while 14% submit an online mortgage application.

6. Collect reviews

Businesses in the real estate sector can quickly collect customer reviews using chatbots. Rather than completing paperwork or communicating with an agent, clients find providing feedback while interacting in a chat simpler.

The chatbot can ask customers to survey after they've made a real estate purchase or signed a lease, or it can have a text discussion with them after signing a rental agreement and save the information they revealed.

Businesses can better grasp the advantages and disadvantages of their initiatives by gathering customer feedback.

7. Provide financial assistance

How should you inform your customers they can apply for loans? Without agents' involvement, real estate chatbots can assist firms in providing this information to their clients. Customers can now calculate their loans, and the chatbot will even present them with special offers during certain times of the year.

Any sensitive information provided by the customer is securely routed to the backend and the designated agent for the relevant property to ensure the confidentiality of data.

8. Make personalized property lists.

Giving clients customized lists requires a lot of time for the agent. A full-page property bot can now be used in this situation. You should put this on your website, too!

After the client submits data, the chatbot dynamically captures it, saves it, and generates a list of pertinent properties matching the customer's search criteria.

It not only saves you time when showing clients potential houses, but it also aids with client qualification.

9. Open up time for your salespeople.

The capacity of your salesmen to lease or sell homes to clients determines how valuable they are to you in the real estate business. A chatbot can free up your salespeople's time in a real estate company by automating the majority of monotonous work. 

It implies that with the aid of a chatbot, all the time your salesperson usually devoted to simple and repetitive chores, like responding to clients' Frequently Asked Questions (FAQs) or filling out forms, can eventually be shifted toward higher value-added activities, such as renting out or selling properties. It's also important to remember that your chatbots can escalate challenging requests to salespeople if it ever gets stuck. You can ensure that all client requests are accurately handled in this manner.

10. Respond to inquiries about properties.

Users looking for homes to buy or rent could have inquiries regarding the properties that need to be explicitly answered online, like the typical monthly payment, the building's history, and prior owners or renters.

Chatbots may access the database containing this data, following the company's third-party privacy policy, and disseminate it to potential customers.

How can chatbots help your real estate business? 

Chatbots can be a game-changer for your real estate businesses by improving efficiency, increasing lead generation, and enhancing customer satisfaction.

Firstly, chatbots can handle routine tasks such as scheduling property tours and answering common questions, freeing up time to focus on more complex tasks. It can significantly increase efficiency and productivity, allowing agents to handle more clients and close deals faster.

Secondly, chatbots can operate 24/7, providing instant support to clients around the clock. It can be especially beneficial for businesses operating across different time zones, as chatbots can respond immediately to customer inquiries and help generate leads even when the agents are unavailable.

Thirdly, chatbots can improve customer satisfaction by providing personalized assistance and support throughout the buying or selling. They can be programmed to ask clients questions about their preferences and budget and provide personalized recommendations for properties that meet their needs. Chatbots can also keep clients informed about the progress of their transactions, providing regular updates and answering any questions they may have.

By deploying chatbots, real estate businesses can streamline their operations, save time, generate more leads, and enhance the customer experience, ultimately leading to increased sales and growth.

The final thought 

Here we have provided in-depth information about 10 ways a real estate chatbot can improve your business.

Realtors can expedite every customers' touchpoint along the customer journey using chatbots.

As chatbots become more intelligent, new use-case opportunities that enhance client communication procedures in startups and large corporations are emerging.

The greatest benefit of client communication automation is that it lets you interact with website visitors who are hesitant to give their contact information to a live representative immediately. Real estate chatbots initiate and maintain conversations to increase lead conversion.

Realtors may generate fresh leads with the use of chatbots, and they can also nurture those leads so they become clients. Additionally, it aids realtors in providing their clients with the best customer service possible to secure repeat business.

BotPenguin real estate chatbot can streamline lead generation, enhance customer engagement, and automate routine tasks. Try BotPenguin today!

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