Here’s the rundown:
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Nearly 70% of brokerage leaders plan to invest in technology in 2024, according to a recent Inman Intel Index survey
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Artificial Intelligence (AI) is now a top priority, as many leaders are looking to incorporate it into their businesses
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Plans to invest in technological improvements are not only aimed at long-term strategic goals but also to compete in the ever-evolving real estate market
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This notable shift in mindset is due to the increasing importance of digital tools in property buying and selling processes – everything from virtual house tours to instant mortgage calculations
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The adoption of AI can streamline cumbersome processes, offer customized solutions, improve customer experience, and ultimately, boost market presence
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However, the move towards technological adaptation also comes with its set of challenges – including but not limited to ensuring data security, maintaining system updates, and integrating new tech with existing systems
Now for my sizzling hot take:
Lightbulb moment, anyone? Almost 70 percent of real estate bigwigs are finally ready to step out of the stone age and get jiggy with all things tech. It’s about time folks – I swear, my grandma’s knitting club has been quicker to adopt Zoom meetings. But seriously, AI has been doing the cha-cha in many industries for years, and it’s high time that real estate pulled up its socks and joined the dance-off.
Admittedly, the real estate business isn’t a breezy walk in the park; it’s more like a tough mudder race, with brokers tirelessly slogging to close deals while avoiding common pitfalls (I mean, have you ever tried to explain a property easement?). So, it’s great to see the industry finally appreciating the potentially groundbreaking role of technology, specifically AI.
However, let’s not forget, with great tech comes great responsibility. So while they’re gleefully hopping on the tech bandwagon, we hope these disciples of real estate also remember to pack their cybersecurity measures and a couple of IT nerds to manage the potential chaos. Welcome to the 21st century, gang! You’re late, but better late than never, huh? Just make sure your AI doesn’t turn into Big Brother watching over everyone’s properties. Now that’s a sci-fi movie I’d rather not watch!
Original article: https://www.inman.com/2024/02/28/energized-by-ai-brokerage-leaders-eye-big-tech-spend-in-2024-triple-i/
