Are Chatbots A Waste Of Time For Real Estate Agents?

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Posted On 1 Aug, 2022

 

Are Chatbots A Waste Of Time To The Real Estate Industry?

Chatbots have been around for decades, but only recently have they become mainstream. Different industries, startups, and companies are now discovering the benefits of chatbots, including the real estate industry and the revolution has only just begun. 

Chatbots - A Digital Revolution

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Chatbots are about to change the game for the real estate 🤯 industry. 

Real estate agents often question if using a chatbot is really worth the effort, or if it’s time better spent just speaking one-on-one with potential clients. The future of software is in self-learning chatbots, and they’re going to attract a lot of attention because they’re not only useful but incredibly cost-efficient and human-friendly. 

While there are many questions to ask ourselves about the viability of chatbots in conjunction with an effective real estate marketing strategy, the most crucial question for any real estate agent is to determine whether or not a chatbot would help drive business and sales. 

We point out some guidelines here that will help you consider what a chatbot might be capable of or not to help you better shape its’ function and output for engaging users and customers throughout all stages of their customer journey, as well as discuss how a chatbot can fit into your real estate company’s marketing strategy.

If your goal is to offer flexibility and a better experience for your real estate client? Then read on potential bot-owner and discover the mysteries of the digitally powered technology that is the “Chatbot!”


What Are Chatbots?

Why Should A Real Estate Agent Care?

Chatbots provide a way to interact with customers and clients via a chat interface that is designed to use natural language processing and artificial intelligence to process what the end-user needs and offer them options based upon the user’s inputs. 

Several of these are available as standalone applications, while others are used as add-ons to help automate common tasks. The use of Chatbots is becoming more and more common as businesses and organizations look to find new and innovative ways to interact with their customers.  

   

What Can Chatbots Do For A Real Estate Agent?

A chatbot is a great way to get the perfect customer service experience! Just think – your prospective clients can type, talk, or text with a friendly and helpful assistant who understands what’s being asked of them, and who can do tasks for you 24/7. 

That’s right, all of those customer questions that clog up your days are all handled in beautiful, natural language, while you’re at a real estate listing presentation, showing homes, or working on your marketing strategy to find more clients.

For the most part, chatbots are great and can help customers handle their needs at their own convenience. However, there are some downsides to using these chatbots that a real estate agent should take into consideration before making a decision about the best use of a real estate chatbot.

How Do Chatbots Work?

The Power of Today's Chatbot - Blog Image_V3

…so glad that you asked!

A chatbot includes Natural Language Processing (NLP) which is the ability of a computer program to understand human language as it is spoken and written, it can “evolve” and learn to respond more accurately to questions from your potential real estate clients.     

One of the most common ways chatbots work is by gathering information and providing valuable information in real-time. How a chatbot interacts with your customers and potential real estate clients depends on the platform. Once potential client interacts with your bot they will receive responses based on their inputs.

There are different “levels” of chatbots.

  • “Smart” a.k.a. A.I. chatbots – can “evolve” and learn to respond more accurately to questions from your potential real estate clients.
  • Live Chat pop-ups – connect your real estate customers with human beings that respond to your customer’s inquires in “real-time.”
  • Rule-based chatbots – work by using a specific set of parameters that show up on a screen to guide a user. The user will then select responses, and the chatbot will switch between pre-defined actions that take them further down the path in order to accurately respond to the question they were inquiring about.

A chatbot can deliver an ebook based on a simple comment by the user, answer questions about your listing, send clients the directions to your office, or your favorite coffee shop to meet potential clients, or it can deliver a URL to a video that shows you explaining the basics of home ownership.     

The great thing about chatbots is that they can be used in so many different ways to improve your real estate business. By using chatbots, you can improve your customer service, find out what your audience wants, and learn how to write your marketing material. You can also use chatbots to generate leads and learn more about your competition. 

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The Pros and Cons of Chatbots in the Real Estate Industry

Today’s chatbot does have some technical limitations. However, a chatbot’s uses are mostly limited by the developer’s knowledge and the imagination of the real estate agent. 

Let’s look at what some of those potential benefits and drawbacks could be for your real estate business…

The Pros Of Chatbots

Chatbots have many advantages. One of the main uses of chatbots is the ability to automate certain tasks. 

 

PROS - Real Estate Chatbot

  • This can include anything from handling customer inquiries to providing basic product information. 
  • Chatbots can also help to improve customer service by allowing customers to quickly and easily get in touch with a representative who can help them with their inquiries.
  • Many companies are using chatbots to handle most, if not all of their customer service needs. This is because chatbots can handle a large number of queries simultaneously. They can also answer questions quickly and accurately. As a result, chatbots can save real estate companies time and money.
  • Additionally, chatbots can be used to collect data about customer interactions which can be used to improve the customer experience.
  • Chatbots are also being used for marketing purposes. They can be used to promote products and services to customers. 
    • They can be used for advertising, 
    • Programmed to deliver digital products – 
      • think 🤔 “New Client Welcome Packets”
      • think 🤔 “Listing Presentations” or “Property Flyers”
      • think 🤔 “Client Forms” or “Testimonial Requests”
    • To promote a featured listing or an upcoming Open House event. 

Chatbots can be really useful if you want to get more done and improve the “customer experience” for your real estate clients.

The Cons Of Chatbots

As a real estate agent, you should consider giving real estate chatbots to improve your customer service and marketing some serious consideration. Chatbots are a great new advancement. However, chatbot use in the real estate industry is still in its infancy stages, and there are some complications that you may encounter. Ensure you consider them before making your business “jump on the bandwagon.” 

  

CONS - Real Estate Chatbot


For example, chatbots may be better at dealing with routine questions chatbots. However, they can actually cause customers to feel like they’re being ignored. Also, a chatbot’s inability to handle non-routine problems can give your company a bad reputation if the customer feels like they can’t get the help they need.  Additionally, chatbots can sometimes feel very impersonal. 

While chatbots can’t be as responsive as human beings, they can play a very informative and fun role in the real estate field. They can also be effective as customer service advocates. So while chatbots can’t always replace humans, they are a great addition to certain aspects of a business.

True, real estate chatbots can help you communicate with your client on a variety of platforms, but if you’re considering using a chatbot, make sure to keep the disadvantages in mind. 

Remember, it’s important to have a clear path for your buyer or seller.


How Can A Real Estate Agent Leverage Chatbots Effectively?

How Should I Use Chatbots?

While you are making the decision about whether or not to build a chatbot for your real estate business, take a close look at how you plan to use the chatbot.

Determining how you plan to implement chatbots into your customer engagement and overall marketing strategy is a very important step. You need to consider if a chatbot will help you with lead generation, customer support, or even just providing information about your listings. Once you know how you want to use a chatbot, then you can start to look at the different platforms and decide which one is right for you. 

Be sure to consider your resources. Are you planning to invest your time, your money, or a combination of them both? Depending on the implementation, a chatbot can be expensive to build and maintain. 

How Can I Build A Chatbot?

There are a few stars in the chatbot world.

Chatfuel, MobileMonkey, and ManyChat are leading the way in the chatbot arena, and ManyChat is setting the competition on 🔥 fire when it comes to ease of use, templates and case studies, and the all too important integration piece – multi-channel marketing ✅ done! If you have more time than money then ManyChat is my recommended stop. 

ManyChat

If you’re new to chatbot development there’s one place you can turn for help. It’s called the School of Bots, a one-stop shop for bot development resources with courses, specialists, and a marketplace where developers can connect with clients. You may be surprised at how many people are looking to develop chatbots but if you want to guarantee the best then The School of Bots is certainly worth checking out and by reaching out directly to their specialist community they will be able to find someone who is the right fit for your project too.

Are Chatbots Taking Over?

The sheer number of chatbot articles might be enough to make you want to run to the hills and hide in a bunker until the bot apocalypse is over.  

Bot Apocalypse Ahead

Truth is, chatbots are going to be a part of our lives as technology becomes more and more a part of our lives. These new tools can be a fantastic way to improve the way real estate agents connect with potential customers. With the right strategy, a marketing campaign can be more successful and cost-effective with the introduction of bots. Several agents are already stepping up their game to adjust to the conversational style of communication that’s becoming more common – and that’s great news for everyone who wants or needs to buy or sell property!

Bots are definitely here to stay. And as more and more people become comfortable using them for things like customer service and online shopping, real estate agents are starting to realize that they can be a valuable tool for marketing and sales, too.

By using bots to mimic human conversation, agents can create a more personal connection with potential customers. And since bots can be programmed to handle a lot of the grunt work involved in a real estate transaction, like setting up appointments and sending reminders, agents can save time and money while still providing top-notch service.

Conclusion

Real estate agents are always asking themselves “Are chatbots really worth it?” or “Does our audience even want them?”

 

The answer is a resounding yes! Chatbots are easy to set up, low-maintenance, and can provide an excellent conversion rate. They allow your company to remain human in an increasingly technology-driven industry. Chatbots have become more and more popular in recent times. Real estate agents who use chatbots can use them for both marketing and customer service, making them a valuable tool for any real estate agent to have in his or her arsenal.

Chatbots can actually be really helpful if you know how to use them correctly. If you’re looking to improve efficiency and the customer experience, chatbots can be a great addition to your team. For more tips and information on how to use 
real estate chatbotsas a creative real estate agents, ensure you keep reading our blog posts!

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