The real estate industry is on the cusp of a significant transformation, thanks to the integration of Artificial Intelligence (AI) in property search. Howard Hanna, a leading real estate brokerage, has made waves by launching an AI-powered search function on their website. According to Howard Hanna executive Kevin Patai, “This innovative feature allows users to search for homes using natural language, a significant leap from the traditional form-based search and driving more leads and business intelligence to Howard Hanna agents.”
The implications for the industry are profound. As highlighted by the WAV Group’s recent workshop, this AI-driven search capability offers a unique opportunity for local brokers to gain a competitive edge over major real estate portals.
- Enhanced User Experience: AI enables a more intuitive and user-friendly search experience. Users can describe their ideal home in their own words, leading to more accurate and relevant search results.
- Competitive Advantage: Early adoption of AI search can position brokers ahead of the curve, attracting tech-savvy consumers and differentiating their services.
- Business Intelligence: Insights into consumer search behavior can inform marketing strategies, SEO, and overall business decisions.
Howard Hanna’s successful implementation of AI search, in collaboration with website vendor Constellation1 and AI developer ListAssist, serves as a compelling case study. Nik Basta of Constellation1 shared that despite Howard Hanna operating in 78 MLSs, ListAssist was able to train the AI model to deliver accurate results across a vast and diverse housing inventory.
The ability for consumers to search using natural language like “3 bedroom single story home on the lakefront with hardwood floors, large back yard, and cathedral ceilings” is remarkable. No brokerage or portal website allows this type of search today. They are stuck on the form based search.
ListAssist CEO Chris McGoldrick emphasizes that local brokers have a “window of opportunity” to reach consumers before major portals fully integrate AI search capabilities. However, this window is closing fast.
Brokers and their website vendors need to act decisively. Partnering with innovative technology providers can facilitate the swift and effective integration of AI search capabilities. By embracing AI, brokers can position themselves at the forefront of the industry, offering a superior user experience and gaining a competitive advantage in the rapidly evolving real estate landscape. The time to act is now.
If you need help with your AI strategy – contact our Tech Experts! WAV Group can help you out.
Enjoy this video recording of the workshop.
