You might never have even heard of an industry that was growing so fast it would multiply in size 13 times over in only seven years. However, that is precisely the kind of fantastic success the artificial intelligence industry is enjoying.
Modern robotics have become so advanced that they are transforming almost every industry on Earth, including the commercial real estate industry. However, we are still in the early days of the AI revolution. Many people even struggle to see what robotics and AI might be able to do for real estate professionals.
However, there are already many powerful AI applications for real estate. On top of that, we will likely discover even more ways AI can transform commercial real estate over the next few years.
Read on to learn all about the most vital things to understand about how robotics is changing the future of commercial real estate!
The unfortunate truth is that many jobs consist partially of boring and repetitive tasks. The good news is that AI tools have been a consistently powerful way to take repetitive tasks off the plates of busy professionals. One of the simplest ways robotics technology is changing commercial real estate is by providing automated tours.
Some people think that tours are mostly important for home buying and selling. However, commercial properties can also benefit from being able to provide unlimited tours.
For one thing, it can be difficult for interested buyers to find a good time to take a property tour that fits with everyone's schedule. Providing AI property tours can give potential buyers the opportunity to learn more about a property whenever it is most convenient for them.
That also gives commercial properties with AI assistance a leg up on competitors. If your property can offer tours whenever a potential buyer is interested, you may get a lot more interest than someone who can only offer property tours at a certain time each week.
On top of that, AI tech can also provide remote tours to interested buyers. That way, they can learn more about properties from the convenience of their homes or offices. This also gives them the chance to review a property as many times as they like.
Plus, some real estate professionals find it tedious to provide tours of the same properties over and over again. AI can take care of this task for them, allowing them to focus on more interesting work.
Many real estate professionals believe that marketing is more important than anything else. After all, no matter how amazing a property is, you won't sell it if you can't get people interested in it in the first place. The good news is that AI is making it easier than ever to market commercial real estate listings.
For one thing, it is becoming more common to use drones to take gorgeous photos of commercial properties. Many potential buyers find aerial footage much more interesting to look at than more standard real estate photos. Plus, aerial footage sometimes provides more and better information than traditional alternatives.
However, real estate professionals are using drones for more than attracting the interest of buyers. Some real estate agents have found that drones are the most efficient way for them to inspect their properties.
Sometimes, that is because it is difficult to see damage unless you can take pictures from the air. In other cases, people spend longer driving to a property to inspect it than they do actually inspecting it. Being able to operate drones at a distance to inspect properties can help real estate professionals save time and take care of maintenance concerns as fast as possible.
However, that is only the beginning of how new AI technology can help commercial real estate professionals save time. People value quality customer service to an incredible degree. However, the majority of customer service concerns have to do with the same few minor problems.
That means that modern chatbots can often respond to most customer service inquiries without human help. When it turns out that some people need more involved assistance, chatbots can redirect them to a person who can take care of their concerns.
This also means that real estate professionals can spend less time answering the same few questions for their clients.
Plus, chatbots may even be able to perform certain customer service tasks better than people can.
For example, someone might want some specific figures from a real estate business. A person might have to look those figures up. However, a chatbot can access them instantly.
Chatbots have improved in an amazing way in only the past several months. In the years to come, they may be able to perform more tasks for commercial real estate professionals.
Some real estate agents are also using chatbots to gather data. Data analytics helps commercial real estate professionals know where to best direct their efforts.
AI can also make property management more efficient. AI tools can keep track of all of the relevant data for your properties.
This includes things like where you have unused spaces. It can include things like inventory and where you are lacking security. AI can also help you know if you are wasting energy at some of your properties.
At the very least, robotics can help you gather this kind of data. More powerful systems can also help you analyze it. Even better systems can provide you with recommendations for how to improve your property management.
We may find that the whole commercial real estate industry becomes more efficient as a result. AI may make it much less common for properties to waste supplies or let simple problems slip through the cracks. The end result can be higher profit margins and lower costs.
Plus, this can help commercial properties avoid unnecessary consumption. As people become more concerned about the environment, that will only become more valuable.
There are several more ways that AI tools can bring down commercial real estate costs. Many commercial real estate properties depend on security personnel. These personnel protect properties while also managing many simple tasks.
However, advanced AI tools can detect many kinds of criminal activity. As this becomes common knowledge, criminals may become more concerned about being caught on cameras. The end result may be that it will be far easier to deter potential criminals from trespassing on commercial properties.
Soon, robots may be able to guard properties while also taking care of simple management tasks for them. That can include things like checking the perimeter or empty rooms as part of a security tour.
Some properties may be able to provide security with robots alone. However, hybrid security services might be even more powerful. While robots take care of repetitive tasks, people can provide more focused attention to any urgent problems that arise.
Many real estate professionals struggle to create uniformity across their properties. On the one hand, that makes it less efficient to manage them as a group. On the other hand, it can take a lot of time and energy to bring every property into conformity.
As a result, many professionals give up on having the same system for all of their properties. However, it may be much easier to achieve property uniformity with AI help.
Suppose you want all of your employees to be able to access certain buildings. Without property uniformity, that can mean providing them all with access to physical keys. However, you can also use AI to monitor who can enter your buildings or not.
You can start by installing this AI system at all of your properties. Then, all you have to do is tell your AI system to allow all of your employees to access your properties. You can use similar tools to ensure that all your properties run according to the same rules.
Many people interested in commercial properties are also interested in tech. As a result, they respond more to properties that integrate the power of AI.
It is simple for robots to perform simple tasks like escorting visitors around the property. As simple as this is, it might blow the minds of some potential tenants. That goes double if these services are efficient as well as fun.
In the future, there may be a growing number of commercial property tenants who prefer properties with AI assistance.
We hope you now have a deeper understanding of how robotics is shaping the future of the commercial real estate industry. As the years go by, even more applications of AI tech will probably be discovered in the world of real estate. In fact, the most successful real estate professionals in the future may be those who make the best possible use out of AI tools.
To find out more about the latest developments in commercial real estate and tech, check out our other articles!
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