AI in Real Estate: Why does Real Estate portfolio management need it and how will it benefit customers?
Real Estate Wealth Tech-Management is pushing boundaries in the industry & we at Indiassetz believe this impact of AI is here to stay.
Artificial Intelligence has taken the digital revolution further than any other technology. The technology is not just predictive or prescriptive, it is also preemptive. Data science has enabled algorithms for every industry and Real Estate is also at the forefront of such change.
According to Maximise Market Research, the Global Artificial Intelligence (AI) in the Real Estate Market is expected to reach $733 billion by 2027 growing at a CAGR of 35 per cent during the forecast period.
If you are living in India, some of you may believe that AI cannot make any difference in Real Estate. But at Indiassetz we have enough data to suggest that change is here and our platform is exactly built in a way to leverage it.
We will take you through 5 such unique value propositions led by AI that Real Estate wealth management tech is bringing to the market.
1. Portfolio management
A Real Estate Wealth-Tech platform helps clients seamlessly manage their Real Estate portfolio with a wealth management perspective and grow their Real Estate wealth with a simple, professional and research-based experience.
While there are banks and wealth management companies for managing cash and other asset classes, Real Estate wealth tech focuses on helping clients manage and maximise their investments in the Real Estate asset class.
Most of the available Real Estate digital solutions focus on a transactional approach (Buy, Sell, Rent), but a wealth tech management platform is a one-stop digital solution for all those associated with the Real Estate sector and want to manage their Real Estate needs end-to-end.
With a data-led, machine learning and AI-powered portfolio management approach homeowners can track their whole portfolio value in real-time with dynamic price changes, similar to stock prices. They can also pay property taxes in one shot, manage their tenants, organise rental incomes, and most importantly put property-related paperwork like agreements and ownership certificates in place. These services are unique to every realtor and customized according to their needs and requirements.
2. Digital Buy, Sell, Rent (BSR)
A Real Estate wealth tech management platform focuses on faster transactions and minimizing the hassle of searching for data. Thereby providing a solution to clients to buy or sell or rent properties from anywhere in the world through a uniquely designed digital experience.
While most property listing platforms focus solely on “Property Identification”, the larger audiences' journey is restricted to Real Estate income only. Real Estate wealth tech management aims to continue this journey by offering these services in addition to helping clients to make smart and intelligent decisions about the property they invest in or are invested in.
AI and machine learning in Real Estate wealth tech management identified this as an opportunity to create unique journeys understanding the client very well, including their preferences, personality and goals. Only the perfect matching of properties is recommended for the client through AI.
3. Enhanced Experience
A state-of-the-art UX/UI integration in Real Estate simplifies the experience of the industry for clients making it as easy as buying and selling stocks on digital platforms. Going through various phases in the transaction of a property is now simple, convenient and data-driven for all clients.
These phases include:
Identification of properties
Virtual property tours
Document verification
Digital negotiation
Booking and token advance payments
Registration of a property.
Several innovative products are coming up on the Indiassetz Real Estate wealth tech platform which will enable clients to quickly exit out of a Real Estate investment in multiple ways other than just a vanilla model offered on various sites.
4. Personalization
With Indiassetz, AI-based personal recommendations are real. Clients can leverage timely insights in the form of portfolio advisory curated exclusively for their portfolios. And with smart insights, backed by historical and current data, AI-powered portfolio advisory will recommend the best way to maximise their Real Estate wealth.
For example, A few homeowners in Koramangala, Bangalore, might want to give out their properties on a vanilla rental model for up to ₹40k per month, but the AI recommends putting their properties on short-term rentals, which will fetch a higher rental income since it is a hotspot for a lot of outsiders coming into the city.
Also, the right products are recommended for the timely management of their Real Estate wealth. Such as property tax payments, financial assistance during buying and renting, and other services such as interior, maintenance, and government liaison-related products.
5. Transparent Pricing
With an instant valuation and a proprietary algorithm, Indiassetz is building an exclusive database of properties in top cities in India, where homeowners are provided with a quick evaluation of their properties powered by AI.
It takes into consideration the intrinsic values (interiors, architecture design, and other uniqueness), property documentation, along with government guidance values and market listing prices, to give a quick valuation of the current worth of the property.
In short, the AI engine of Indiassetz creates a scorecard based on the number of details provided and we at Indiassetz have a solution to all problems of the owner and are striving to make the Real Estate journey easy for everyone. Come be part of our journey of making Real Estate wealth management intelligent and productive for you.