I’m going to touch on one of the hottest topics globally right now, which is AI or artificial intelligence and everywhere you turn, someone is talking about it. So today I’m going to join that growing trend and we’re diving head first into the world of AI tools that are reshaping the landscape of property management and real estate.
And whether you’re a property manager, BDM or business owner, or simply curious about the latest tech trends in real estate. This episode is tailored just for you. To set the stage, let’s explore the current state of AI in property management and real estate. AI is no longer just a buzzword, but a transformative force.
It’s changing how we operate, manage, and invest in real estate. In this episode, we’ll focus on the best AI tools that are setting the new standards and creating waves in the industry. But first, what is AI and how does it work? So artificial intelligence, or AI, makes it possible for machines to learn from experience, adjust to new inputs, and perform human like tasks.
Most AI examples that you hear about today, from chess playing computers to self driving cars, rely heavily on deep learning and natural language processing. Using these technologies, computers can be trained to accomplish specific tasks by processing large amounts of data and recognising patterns in the data.
The term artificial intelligence was actually coined in 1956, but AI has become more popular today thanks to increased data volumes, advanced algorithms, and improvements in computing power and storage. So what does it actually do? Well, AI automates repetitive learning and discovery through data. Instead of automating manual tasks, AI performs frequent high volume computerised tasks.
AI adds intelligence to existing products. Many products that you already use will be improved with AI capabilities, much like Siri was added as a feature to a new generation of Apple products. AI adapts through progressive learning algorithms to let the data do the programming. AI finds structure and regularities in data that the algorithms can acquire skills like playing chess, for example, and AI gets the most out of data.
When algorithms are self learning, the data itself is an asset and the answers are in the data. You just need to apply the AI to find the answers. So if you’re confused about all of that technical stuff, you’re not alone. And I just wanted to share that an overview for anyone who likes to geek out on the tech stuff.
But what I’m really going to dive into is how AI and the tools in AI that I am currently using inside my own businesses, that will also help you and encourage you to embrace it and it is going to be the future. So now is the time to start becoming an adopter of the AI tools that I’m going to share with you.
I’m also going to share a little bit about how you can actually use them as well. So let’s start with the first AI tool that I want to recommend to you guys. And you’ve probably already heard of it. You’re probably living under a rock if you haven’t heard about it. And that is chat GPT. So chat GPT is an artificial intelligence chat bot that uses natural language processing to create human like conversational dialogue.
The language model can respond to questions and compose various written content, including articles, social media posts, blogs, podcast episodes, newsletters, essays, it can code as well, and also write emails for you. So other ways that people are using chat GPT outside of obviously the Real Estate space, they’re using it to code computer programs and check for bugs in code.
They’re using it to compose music, if you’re a uni student, it can summarise your articles or presentations, you can also use it for scripts for social media posts. Solving maths problems and you can also use it to discover keywords for search engine optimisation.
I personally use it for my caption writing for social media or for blogs. When I started That Property Mum, three years ago, I started it as a blog and I spent hours and hours writing blog content. But now I don’t have to do that because of ChatGPT. I even use it to help me create solo podcast episodes now.
And in my property management business, I’ve used it to help write emails to clients, newsletters, and I’ve even created a PowerPoint presentation for investor education webinars. My advice though, with using ChatGPT is to make sure that you, edit it carefully and make sure that it is in your company tone of voice and that you continue to share your own stories in the content and don’t overdo it with the emojis.
You can really start seeing the chat GPT in content online now. So be careful to make sure it’s still in your brand and your experiences are behind everything that you share. The next AI tool that I have fallen in love with, and I can totally recommend that you embrace, it’s called OpusClip AI and that’s O P U S Clip, C L I P. A I.
Now OpusClip is a generative, it’s an AI video repurposing tool that turns your long videos into viral short videos. They use the most advanced AI to analyse and pick gold nuggets from different parts of your video and seamlessly rearrange them into viral short clips that stand on their own.
Opusclip AI is the future of Real Estate video marketing. It is, like I said, an AI powered platform that can help you effortlessly, kind of get that word out, create stunning property videos. You can turn property photos into dynamic video tours and engaging voiceovers. It automatically adds captions for you and you know, it is a really great way to be efficient.
You can say goodbye to time saving video editing, something that used to take 15 minutes! It automates the process and it also increases engagement. The videos are designed and use the AI to create the most engaging parts. I believe OpusClip AI is going to be the future of Real Estate video marketing. Like I said, it’s the AI powered platform and it allows you to effortlessly create stunning property videos.
You can turn property photos into a dynamic video tour, add engaging voiceovers and even include interactive elements to showcase certain features and improves efficiency. You can say goodbye to time consuming video editing, something that used to take us hours to do. We can now get multiple video clips done, you know, in 15 minutes.
And you can also increase engagement on your videos because they’re designed automatically using the AI technology to create attention grabbing videos that are going to resonate with your particular audience. This has been an absolute game changer for me and I absolutely love sharing video content.
It is the way to go on platforms like TikTok and Instagram. And something, like I said, that was taking us way longer, so for example, I will take a long form piece of content, like a webinar or a workshop that I’ve done. I can just upload that video into Opusclip. AI and it will spit out in a matter of minutes, you know, 10, 15, 20 different short film video clips for me, all with the captions and emojis all already done for me.
So an amazing tool and totally can recommend you take a look at it. Now, the third AI tool that I can recommend is called Designerr – and that’s with two R’s on the end. And this is an AI tool that allows you to create eBooks, lead magnets and reports. So property reports, for example in minutes. This is great for building your expertise, sharing market reports or investor education.
It’s literally another game changer! If you want to know more about digital marketing strategies using eBooks and lead magnets, you can jump on into my property management membership or my digital marketing school, where I share lots of different strategies around the eBooks and lead magnets inside them.
But let’s talk about Designerr. So it actually simplifies the process of creating engaging content for Real Estate listings. It allows you to convert existing content such as property descriptions and images into beautifully designed eBooks or brochures or presentations with just a few clicks. It also has AI powered templates and design features that enable you to produce professional high quality marketing materials to showcase your brand and your services.
So this could be like a listing presentation kit or something that you want to take to an appraisal. It’s not expensive and it’s definitely a time saver. It reduces the amount of time and cost associated with content creation. I’m not sure how many of you have spent time trying to master and create things on Canva – even though it’s super easy compared to old graphic design tools.
In Designerr you literally upload your content, pick a template and it is spat out within minutes. And it’s for the fraction of the cost of employing somebody to do it for you. It’s also optimised for SEO, anything that you upload and create in there.
And this is a really crucial factor for attracting that online traffic. Designer offers SEO optimisation features, allowing you to include relevant. Keywords and metadata in your content. And of course, this is going to help improve the visibility of your listings or your brand in search engine results.
It’s also designed to help with lead generation as well. It can be used to create lead magnets or eBooks, property guides within minutes. And of course, you know, the strategy behind that is, you know, you offer the eBook in exchange for somebody’s contact details, essentially creating a lead for your business.
The next tool that I want to share with you is Photoshop AI and this is Adobe Photoshop’s AI and it allows you to enhance image quality. It offers virtual staging capabilities. You can remove unwanted objects like A tenant’s furniture, for example, and it offers a range of other tools to make your property listings more appealing and effective.
Photoshop AI can automatically enhance image quality by adjusting exposure, contrast, colour balance, and sharpness. So you don’t have to do it anymore. The AI will do correct it all for you. And this ensures that your property photos look their absolute best and make that lasting impression on potential buyers or tenants.
You can do virtual staging, so you can empty or you know how outdated interiors can be, and people can be turned off by those. With this, you can virtually stage a room, adding furniture, decor, and even different colour schemes to allow potential buyers or tenants to visualise the property’s potential.
You can do again that object removal, whether it’s a utility pole, a parked car or personal items in a cluttered room, AI will clean up all your images and make them more appealing. Another function or feature that I’ve used is you can use the day to dusk. Conversion transforming daytime properties into stunning dusk or twilight shots.
The AI will seamlessly convert those for you. There is a company that is already using this AI that you can have access to. It’s called Box Brownie. You can literally upload your images into their app, pick the type of service that you like, whether you want object removal, virtual staging, and they will have the photos back to you in the next day.
Now, another AI tool that you might want to look at is AI powered CRM systems or customer management systems. Now, these systems can identify leads, predict market trends, and help Real Estate agents stay one step ahead.
So it connects your CRM and enhances your data with property data from third parties like CoreLogic, Realestate. com, and Domains market data. The AI generates consistent leads from your database with the artificial intelligence magic. Unlike other platforms, Rita has personalised two way conversations with people at scale and on autopilot.
She engages with your contacts while you focus on listing and selling. It takes the guesswork out of who to call and what to talk about. It understands and cleans up your data for more opportunities. It allows you to have more personalised conversations with contacts at scale, and it puts your prospecting on autopilot while you focus on listing and selling.
Another AI tool that you can add is a virtual assistant or a chat bot to your website. These are the unsung heroes of tenant communication. They offer instant support and keep tenants engaged. You can easily add these to your website and direct tenants to seek assistance from them as a first point of call before reaching out to your office, for example, it can reduce the amount of incoming calls to your office. It can also help capture leads as well. If you’ve got potential people who want to buy properties in your areas or want more information about a listing that you’ve got or a rental property, it can also be used as a bit of a lead generator on your website as well, capturing.
People as they first jump on to your website and getting their details. There’s also AI driven property management software. This isn’t just about automation, it’s about revolutionising how we manage properties. From rent collection to predictive maintenance, AI can do it all. Software like RE Heroes and Tappy have AI powered tenant maintenance triage, where a tenant wants to lodge maintenance, they will go through the AI powered chat bot and do all the troubleshooting before they have to lodge any maintenance.
And this again, dramatically reduces the number of maintenance jobs reported, saves time in the office on maintenance calls. And ultimately, saves the property owners wasted money on unnecessary maintenance – it’s a win, win, win, I personally think. So to wrap things up, I wish I had a crystal ball to peek into the future of AI and property management and Real Estate!
The possibilities are going to be endless, from more advanced predictive analytics to personalised tenor experiences and virtual property tours, who knows what is ahead of us, but the key is to keep adopting and learning and growing and making it part of your business. The key takeaway here is to remain adaptable and embrace the ever evolving world of technology in real estate.
Remember, AI, software and tech aren’t here to take away jobs. They’re here to make jobs easier and allow us to enhance the customer experience. That we’re able to deliver. So there you have it, the best AI tools that I can recommend that are definitely shaping my business and enhancing my business and are certainly set to enhance property management and real estate in general.