Agents Using AI to Educate Their Clients
New buyers often ask similar questions, and an AI virtual assistant – not unlike ones used by some companies in online “Chats” – are handling the more basic queries.
PALO ALTO, Calif. – In California, some real estate companies that serve Bay Area communities are turning to artificial intelligence (AI) to ease the process of real estate transactions.
The target audience for AI-assisted online homebuying services is millennials – the 66 million Americans born between 1981 to 1996 – who now represent the largest homeowner majority. In 2022, millennials comprised more than 50% of all homebuyers, according to a report from Rent Café.
A real estate tech start-up called DwellWell uses AI software to provide online answers to basic homebuying questions, new homebuyer educational programs, pre-approval for mortgage loans, and connections with three “best match” real estate agents, for example. Much of the work is done by an AI computer.
“We sincerely want to help homebuyers, and what Realtors don’t especially love is having to answer repetitive questions,” says Josh Ades, marketing director for DwellWell.”
The company’s online resources offer step-by-step guides on homebuying basics, selecting an agent and closing a deal.
Users can also chat with “Dwelly,” the website’s mascot and navigator, to learn about the homebuying process, determine their eligibility to qualify for mortgage loans, or find suitable real estate options. While that information is already available online, a voice that sounds human can patiently help simplify the process without eating up an agent’s time.
Source: Palo Alto Online (08/07/23) Goll, David
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