{"id":103716,"date":"2020-08-07T19:01:55","date_gmt":"2020-08-07T17:01:55","guid":{"rendered":"https:\/\/www.shbarcelona.com\/blog\/en\/?p=103716"},"modified":"2020-10-23T14:25:36","modified_gmt":"2020-10-23T12:25:36","slug":"artificial-intelligence-real-estate-2020","status":"publish","type":"post","link":"https:\/\/www.shbarcelona.com\/blog\/en\/artificial-intelligence-real-estate-2020\/","title":{"rendered":"Artificial Intelligence in Real Estate 2020"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The use of <strong>Artificial Intelligence<\/strong> is increasingly widespread in all business sectors, including the<strong> Real Estate sector<\/strong>. It is considered a way to gain more<strong> competitive advantages<\/strong> within the market.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Today, in this article by <a href=\"https:\/\/www.shbarcelona.com\/\"><strong>ShBarcelona<\/strong><\/a>, we discover where <strong>Artificial Intelligence <\/strong>can be applied and how the<strong> real property industry <\/strong>can benefit from it.<\/span><\/p>\n<p style=\"text-align: center;\"><div id=\"metaslider-id-104522\" style=\"max-width: 850px; margin: 0 auto;\" class=\"ml-slider-3-20-3 metaslider metaslider-responsive metaslider-104522 ml-slider\">\n    <div id=\"metaslider_container_104522\">\n        <ul id='metaslider_104522' class='rslides'>\n            <li><a href=\"https:\/\/www.shbarcelona.com\/\" target=\"_self\"><img width=\"850\" height=\"182\" src=\"https:\/\/www.shbarcelona.com\/blog\/en\/wp-content\/uploads\/2020\/09\/en-1.jpg\" class=\"slider-104522 slide-104523\" alt=\"rental apartments in Barcelona\" rel=\"\" title=\"Banner medio home inquilinos\" \/><\/a><\/li>\n        <\/ul>\n        \n    <\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_17 counter-hierarchy ez-toc-grey\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.shbarcelona.com\/blog\/en\/artificial-intelligence-real-estate-2020\/#The_Importance_of_Artificial_Intelligence\" title=\"The Importance of Artificial Intelligence\">The Importance of Artificial Intelligence<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.shbarcelona.com\/blog\/en\/artificial-intelligence-real-estate-2020\/#Applications_of_Artificial_Intelligence_in_the_Real_Estate_industry\" title=\"Applications of Artificial Intelligence in the Real Estate industry\">Applications of Artificial Intelligence in the Real Estate industry<\/a><ul class=\"ez-toc-list-level-3\"><li class=\"ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.shbarcelona.com\/blog\/en\/artificial-intelligence-real-estate-2020\/#1-_Customer_service_Chatbots\" title=\"1- Customer service: Chatbots\">1- Customer service: Chatbots<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.shbarcelona.com\/blog\/en\/artificial-intelligence-real-estate-2020\/#2-_Property_information_verification\" title=\"2- Property information verification\">2- Property information verification<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.shbarcelona.com\/blog\/en\/artificial-intelligence-real-estate-2020\/#3-_Property_valuation\" title=\"3- Property valuation\">3- Property valuation<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.shbarcelona.com\/blog\/en\/artificial-intelligence-real-estate-2020\/#4-_Blockchain_Financial_operations_of_purchase_and_sale\" title=\"4- Blockchain: Financial operations of purchase and sale\">4- Blockchain: Financial operations of purchase and sale<\/a><\/li><\/ul><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.shbarcelona.com\/blog\/en\/artificial-intelligence-real-estate-2020\/#How_AI_will_transform_Real_Estate_soon\" title=\"How AI will transform Real Estate soon?\">How AI will transform Real Estate soon?<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Importance_of_Artificial_Intelligence\"><\/span><b>The Importance of Artificial Intelligence<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><strong>Artificial Intelligence<\/strong> is one of the latest<strong> trends in the technological development <\/strong>of the Real Estate market. It is an innovative technology that imitates the cognitive functions of human beings in a simulated way.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Explained in other words, the <strong>AI<\/strong><\/span>&nbsp;are <strong>software solutions<\/strong> programmed to learn and optimize themselves, solve problems, and exercise with human reasoning.<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><strong>Artificial Intelligence<\/strong> has the potential to speed up and improve labor-intensive processes. Because of that, the companies can save a large investment of time and cost overall, but especially in the key areas of customer service and operational efficiency relating to their applications.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">According to the <\/span><strong>Accenture Report<\/strong><span style=\"font-weight: 400;\">, which estimates that if companies invest in <strong>Artificial Intelligence<\/strong> and <strong>human-machine<\/strong> collaboration, they could increase their income by<strong> 38%<\/strong> and the level of employment by<strong> 10% <\/strong>by 2022.<\/span><\/p>\n<table style=\"width: 100%; border-collapse: collapse; background-color: #ffe6c9;\">\n<tbody>\n<tr>\n<td style=\"width: 100%; text-align: justify;\"><strong> <b>&#x1f4cc; <\/b><a href=\"https:\/\/www.shbarcelona.com\/\">ShBarcelona<\/a> had succeeded in making a name for itself in the apartment rental business in Barcelona, to become one of the best real estate service agencies. The company has definitive international approach, and is constantly developing its technological tools to ensure and facilitate exchanges with customers.&nbsp;<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: center;\"><em>Related article: <a href=\"https:\/\/www.shbarcelona.com\/blog\/en\/5-technological-trends-real-estate-2020\/\">5 technological trends of the real estate sector in 2020<\/a><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Applications_of_Artificial_Intelligence_in_the_Real_Estate_industry\"><\/span><b>Applications of Artificial Intelligence in the Real Estate industry<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"1-_Customer_service_Chatbots\"><\/span><b>1- Customer service: Chatbots<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The same as leading messaging companies such as <strong>Facebook Messenger, Slack, or Telegram.<\/strong> Real estate agencies are also introducing some systems for automatic customer service, like <strong>Chatbots<\/strong>.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">A Chatbot is a <strong>software application<\/strong> that is used as a <strong>personal online assistant<\/strong>. It is able to conduct direct conversations via text or text-to-speech. Therefore, our customers can be served in 24 hours of 365 days of the year.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Simultaneously, <strong>Chatbots<\/strong> can also support the <strong>Real Estate agents<\/strong> to better accomplish their heavy lifting jobs, like gathering information from extensive databases in seconds.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Moreover, based on the customer information that they accumulate over time, <strong>Chatbots<\/strong> become smarter and seek more appropriate solutions to customer problems.<\/span><\/p>\n<div id=\"attachment_103720\" style=\"width: 650px\" class=\"wp-caption aligncenter\"><img aria-describedby=\"caption-attachment-103720\" class=\"wp-image-103720 size-full\" src=\"https:\/\/www.shbarcelona.com\/blog\/en\/wp-content\/uploads\/2020\/08\/chatbot-4071274_640.jpg\" alt=\"chatbot\" width=\"640\" height=\"405\"><p id=\"caption-attachment-103720\" class=\"wp-caption-text\">Photo via Pixabay<\/p><\/div>\n<h3><span class=\"ez-toc-section\" id=\"2-_Property_information_verification\"><\/span>2- <b>Property information verification<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In many cases, the property information on the Real Estate directories may not correspond to the authentic data of the properties. This happens because they are unused to double-checking, or as there are too many properties and some data could be out of control.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In this case, <strong>AI<\/strong> allows us to automate the process of asking the <strong>General Directorate of Cadastre<\/strong> if the information we use on each property is correct or not. Like the addresses, the square meters, or if it has parking or not.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The information will be accurately analyzed in seconds, and a &#8220;<strong>false<\/strong> or <strong>true<\/strong>&#8221; answer will be provided. In this way, the date of the properties can be <strong>automatically verified<\/strong>. At that point, the clients can always receive the correct property information.<\/span><\/p>\n<p style=\"text-align: center;\"><a class=\"fasc-button fasc-size-large fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-chevron-circle-right broken_link\" style=\"background-color: #850909; color: #ffffff;\" target=\"_blank\" rel=\"noopener noreferrer nofollow\" href=\"https:\/\/www.shbarcelona.com\/long-term-rental\">Learn more about monthly rentals of ShBarcelona<\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"3-_Property_valuation\"><\/span>3- <b>Property valuation<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Generally, agents rely on market knowledge, databases of homes for sale, and sold cases to properly value the properties. In other words, they rely on actual sales witnesses. But many times, the result of the analysis can be quite subjective, and as a result of human operation, there can inevitably be mistakes.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Thanks to the latest&nbsp;<\/span><strong>existing AI-based tools<\/strong> and <strong>AVM (Automated Valuation Models) algorithms<\/strong>. For agents, they can provide an objective <strong>property valuation<\/strong> to clients in seconds. Just selecting the dependable variables, like square footage, the number of rooms, or any other feature of the property.<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Moreover, depending on which <strong>AVM<\/strong> or tool they use, they can include more specific variables on their calculations. For example, real witnesses, macroeconomic data, and socioeconomic indicators related to their location.&nbsp;&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The application of <strong>AI<\/strong> can also be very interested in cases such as a <strong>massive valuation of properties<\/strong> in short term, and cases difficult to access in the properties.<\/span><\/p>\n<p style=\"text-align: center;\"><em>Related article: <a href=\"https:\/\/www.shbarcelona.com\/blog\/en\/apartment-evaluation\/\">Get your apartment evaluated for free<\/a><\/em><\/p>\n<h3 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"4-_Blockchain_Financial_operations_of_purchase_and_sale\"><\/span>4- <b>Blockchain: Financial operations of purchase and sale<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><strong>Blockchain<\/strong> is a public ledger that records every user&#8217;s data and transactions. Its system is managed by a cluster of computers, but not owned by any entity. <strong>Public Blockchain networks<\/strong> guarantee that everyone can carry out transactions in the chain, any valid transaction will be added and everyone can access the system using a <strong>block browser<\/strong>.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Although the operations related to <strong>Blockchain<\/strong>, typically require more extensive ranges of applications. But if we properly register and organize all the users&#8217; information with the <strong>Blockchain system<\/strong>, so we can easily recover or reuse it.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">We will speed up and provide more security in financial operations.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">For example, in the case of <strong>digital contracts<\/strong>, we will be able to reduce waiting time, mortgage approval periods, and other processing times. Here, the <strong>AI<\/strong> acts as a personal assistant, to help clients fill out documents when the database does not dispose of enough information.<\/span><\/p>\n<div id=\"attachment_103724\" style=\"width: 650px\" class=\"wp-caption aligncenter\"><img aria-describedby=\"caption-attachment-103724\" class=\"wp-image-103724 size-full\" src=\"https:\/\/www.shbarcelona.com\/blog\/en\/wp-content\/uploads\/2020\/08\/blockchain-3019121_640.png\" alt=\"Blockchain - artificial intelligence\" width=\"640\" height=\"479\"><p id=\"caption-attachment-103724\" class=\"wp-caption-text\">Photo via Pixabay<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"How_AI_will_transform_Real_Estate_soon\"><\/span><b>How AI will transform Real Estate soon?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">As you can see, <strong>AI<\/strong> can be applied in many diverse areas within the Real Estate sector. Even though, not all participants in the sector already have it in use or development. But definitely, companies who embrace <strong>AI-driven technology<\/strong> will have a clear competitive advantage compared to those who do not.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In a near future, <strong>AI<\/strong> will become one of the most important resources for companies to enhance <strong>work efficiency<\/strong> and obtain more <strong>significant benefits<\/strong>.&nbsp;<\/span><\/p>\n<div style=\"display: none;\"\n    class=\"kk-star-ratings kksr-valign-bottom kksr-align-left \"\n    data-id=\"103716\"\n    data-slug=\"\">\n    <div class=\"kksr-stars\">\n    <div class=\"kksr-stars-inactive\">\n            <div class=\"kksr-star\" data-star=\"1\">\n            <div class=\"kksr-icon\" style=\"width: 25px; height: 25px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"2\">\n            <div class=\"kksr-icon\" style=\"width: 25px; height: 25px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"3\">\n            <div class=\"kksr-icon\" style=\"width: 25px; height: 25px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"4\">\n            <div class=\"kksr-icon\" style=\"width: 25px; height: 25px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"5\">\n            <div class=\"kksr-icon\" style=\"width: 25px; height: 25px;\"><\/div>\n        <\/div>\n    <\/div>\n    <div class=\"kksr-stars-active\" style=\"width: 150px;\">\n            <div class=\"kksr-star\">\n            <div class=\"kksr-icon\" style=\"width: 25px; height: 25px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\">\n            <div class=\"kksr-icon\" style=\"width: 25px; height: 25px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\">\n            <div class=\"kksr-icon\" style=\"width: 25px; height: 25px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\">\n            <div class=\"kksr-icon\" style=\"width: 25px; height: 25px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\">\n            <div class=\"kksr-icon\" style=\"width: 25px; height: 25px;\"><\/div>\n        <\/div>\n    <\/div>\n<\/div>\n    <div class=\"kksr-legend\">\n            <strong class=\"kksr-score\">5<\/strong>\n        <span class=\"kksr-muted\">\/<\/span>\n        <strong>5<\/strong>\n        <span class=\"kksr-muted\">(<\/span>\n        <strong class=\"kksr-count\">16<\/strong>\n        <span class=\"kksr-muted\">\n            votes        <\/span>\n        <span class=\"kksr-muted\">)<\/span>\n    <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The use of Artificial Intelligence is increasingly widespread in all business sectors, including the Real Estate sector. It is considered a way to gain more competitive advantages within the market.&nbsp; Today, in this article by ShBarcelona, we discover where Artificial Intelligence can be applied and how the real property industry can benefit from it. &nbsp; [&hellip;]<\/p>\n","protected":false},"author":151,"featured_media":103719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4494],"tags":[9579,9588,9589],"_links":{"self":[{"href":"https:\/\/www.shbarcelona.com\/blog\/en\/wp-json\/wp\/v2\/posts\/103716"}],"collection":[{"href":"https:\/\/www.shbarcelona.com\/blog\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.shbarcelona.com\/blog\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.shbarcelona.com\/blog\/en\/wp-json\/wp\/v2\/users\/151"}],"replies":[{"embeddable":true,"href":"https:\/\/www.shbarcelona.com\/blog\/en\/wp-json\/wp\/v2\/comments?post=103716"}],"version-history":[{"count":16,"href":"https:\/\/www.shbarcelona.com\/blog\/en\/wp-json\/wp\/v2\/posts\/103716\/revisions"}],"predecessor-version":[{"id":111001,"href":"https:\/\/www.shbarcelona.com\/blog\/en\/wp-json\/wp\/v2\/posts\/103716\/revisions\/111001"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.shbarcelona.com\/blog\/en\/wp-json\/wp\/v2\/media\/103719"}],"wp:attachment":[{"href":"https:\/\/www.shbarcelona.com\/blog\/en\/wp-json\/wp\/v2\/media?parent=103716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.shbarcelona.com\/blog\/en\/wp-json\/wp\/v2\/categories?post=103716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.shbarcelona.com\/blog\/en\/wp-json\/wp\/v2\/tags?post=103716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}