Category Archives: AI

Unlocking the Power of AI in Real Estate

Leave a reply

Unlocking the power of AI in real rstate

The real estate industry faces unprecedented challenges due to significant changes, including reduced transactions in residential markets, rising office vacancies, and the potential impact of AI on the profession. While AI presents exciting opportunities, it lacks the capacity to perceive the nuances of human interactions and the intangible features of a property that buyers and sellers consider during a transaction. However, integrating AI tools and human expertise can deliver superior results in real estate transactions.

The Importance of human expertise in real estate transactions

Although AI tools like ChatGPT are being used in various real estate tasks, such as writing listings, calculating mortgage payments, and analyzing real estate databases, there is still a need for human expertise. Particularly when it comes to understanding the cultural context of a transaction and interpreting the body language of the parties involved. Human intuition, empathy, and cultural context are essential factors that cannot be replicated by AI.

AI and Real Estate

The integration of AI and human expertise in real estate transactions

The future of the industry is likely to involve the integration of AI tools with human expertise, with the two working in tandem to deliver superior results. Robert Dodd, the CEO of XL Technologies, emphasizes the importance of augmented intelligence in the real estate industry, “stating that AI and human expertise should work together to deliver superior results.” AI tools can introduce potential bias and prejudice into real estate transactions, which is a significant concern. Therefore, the industry needs to address this issue by embracing anthropology intelligence, a third type of AI that provides cultural context to enhance human decision-making.

Tips for leveraging AI tools in real estate

Real estate professionals and companies can leverage AI tools to increase industry efficiency and lower commission fees. Here are some specific tips:

  • Use AI-powered chatbots to handle basic inquiries from potential buyers and sellers, freeing up time for human experts to focus on more complex tasks.
  • Leverage predictive analytics to anticipate market trends and adjust pricing strategies accordingly.
  • Use AI-powered tools to identify potential leads and create targeted marketing campaigns.
  • Incorporate virtual and augmented reality technologies to create immersive property tours and enhance the buying and selling experience.

Where do we go from here?

In conclusion, integrating AI tools and human expertise is crucial for the future of the real estate industry. While AI presents exciting opportunities, the importance of human intuition, empathy, and cultural context cannot be underestimated. By leveraging the strengths of both AI and human expertise, the industry can deliver superior results and overcome the critical challenges it faces. It’s essential for the industry to embrace change, whether through AI or other innovative solutions, to ensure its continued growth and success.

How XL Technologies helped North Group Realty Grow their Brokerage.

XL Technologies helps new, upstart brokerage recruit residential brokers in the Carolinas.

As a real estate agent recruiting leader, XL Technologies’ marketing team helped this start-up brokerage grow its agent roster through an omnichannel advertising campaign and targeted follow-up nurturing campaign.

The challenge:

NorthGroup Real Estate was looking to quickly build its agent roster for a new 100% commission brokerage opening in the Carolinas. However, none of the agents in the area knew anything about the NorthGroup brand and value proposition. Since senior management was already familiar with email marketing to advertise to agents, they wanted to start with an email-only approach. However, after meeting with the consulting team at XL Technologies, NorthGroup management decided to let us design and execute a comprehensive omnichannel advertising campaign strategy designed to saturate the area with their brand and messaging. Fast-tracking the exposure of their new brand to every real estate agent in the territories they covered.

The solution:

After an initial discovery session with key decision-makers, we determined the ideal audience, geographic territories, and messaging for an aggressive omnichannel outreach campaign that spanned multiple states.

Once we defined the targeting, the second phase of the project was to develop a recruiting website that communicated the NorthGroup value proposition and positioned them as experienced leaders in the target markets.

We did this by creating a series of wireframe mockups to define how the information was going to be organized and communicated to the target agents.

After we completed the mockups, our copywriters went to work by crafting the copy that told the story of NorthGroup to the target audience.

We collected the client’s feedback and completed all the changes. At that point, the copy and wireframe were combined and handed to our graphic designers and development team to create the first generation of the recruiting website.

At this point, we had a clearly defined website to support the brand’s messaging, and the team moved on to the digital advertising campaign. We decided to start with an aggressive email outreach campaign followed up by an equally aggressive Facebook ad campaign to introduce the target agents in the market to the newly created brand.

The advertising campaign included the following:

Custom integration of the recruiting website directly into the NorthGroup scheduling and lead management systems.Email marketing campaigns utilizing XL Technologies’ proprietary database of real estate professionals segmented to the market areas where NorthGroup Real Estate was looking to grow its market share.
Developed targeted audiences using Facebook’s interest level categories and XL Technologies’ proprietary database of real estate professionals to build a custom target audience.Created three top-funnel ad campaigns and over 20 ads to target the audience with varied messaging and creative to keep the campaigns from going stale and performing at maximum efficiency.
Created three top-funnel ad campaigns and over 20 ads to target the audience with varied messaging and creative to keep the campaigns from going stale and performing at maximum efficiency.Created a series of graphical display ads targeted at a custom cold top-funnel audience using the Adroll platform.
Created a multi-step email sequence targeted at a cold audience to drive interest in the brand.We created a series of advertisements retargeting, recruiting website visitors who previously expressed interest in NorthGroup Real Estate but did not convert.
We implemented a comprehensive follow-up strategy with responses to all leads within five minutes of submission via email and text messaging.We implemented a comprehensive follow-up strategy with responses to all leads within five minutes of submission via email and text messaging.
Pre-qualified all leads and booked only the qualified leads on the brokers’ online scheduling system.
Continuous campaign management, optimization, and reporting. Which included monthly summary reports regarding campaign performance that were reviewed with management.
Implemented a long-tail text messaging follow-up strategy for any leads that were not ready to join
Scott Wilkinson

“XL Tech did an outstanding job. Originally I was a little skeptical, but I followed their lead, and they did not disappoint. Our agent growth has been nothing short of amazing. I highly recommend XL Technologies for any broker, big or small, that wants to grow their agent count fast.”

Scott Wilkinson, Founder/CEO NorthGroup Real Estate

The results:

This multi-channel approach, coupled with our proprietary database of real estate professionals, attracted over 343 leads allowing NorthGroup to hire over 130 agents within a five-month period at an average cost per lead of $35.39.

586

Agent leads at an
average cost per
lead of $35.39

88%

Contact rate off
lead inquiries

252

New agents hired in
5 months with 40%
conversion rate


Ready to start growing your agent brokerage
with the same strategies?

Contact us today and start growing your agent roster

BOOK YOUR CALL TODAY