Interviewed recently by The Urban Developer magazine on AI.
Aside from estimating house prices, commercial property development and finance firm Salvest managing director Anthony Ferraro expects AI to be used to estimate rental growth and consumers’ debt levels for home financing.
He says tech will shake up the industry in a number of other ways.
“Speech recognition can assist the sales process by gathering data to measure the stress and emotional levels of vendors and buyers.
This can provide the agent with resources to close the sale.
We will also see virtual agents emerge, where the vendor becomes the agent, drawing on machine learning to assist in the buyer qualification process." Salvest