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How to Develop a Custom AI Chatbot for Real Estate Business?

If you have observed the real estate market in 2021 you would know that the market stands incredibly competitive. Agents are putting up their best fight to close as many deals as possible. And the buyers are keen to grab an opportune chunk of property aiming to double their returns in the coming years. 

Communication is the key to reaching your potential customers. But it’s tough to always be present with the other responsibilities that accompany managing a real estate company. Therefore developing a custom AI chatbot for your web or mobile app can prove to be extremely beneficial for your company. 

We – Technource, a Real Estate app development company bring you this read that shares the essentials of how you can create a custom AI chatbot for your real estate business. Let’s begin!

What is an AI Chatbot? How does it Work?

AI chatbot is designed with the only goal of offering relevant information to the users of any mobile or web application. One can either feed prerecorded or predecided answers or you can program it to learn things based on the information it receives. An AI Chatbot is programmed to learn independently using all the information available to them from the website and other results to generate an authentic response to the users. 

The only constant with an AI chatbot is ‘learning’. It’s has been coded to learn from their interactions with different users. And by collecting enough data, it can answer a wide spectrum of queries for its users.

A chatbot has to be trained as per the industry you belong to. After you do the same your chatbot can function independently using Natural Language Processing (NLP) and Machine Learning (ML). NLP interprets communication by combining language rules with language context. With the recurring use of such commands, your chatbots easily figure out the verbal queues and grasp the core query behind them. 

As time passes you will notice that your chatbots have developed innovative ways of answering the same queries. You can at anytime alter or change your chatbot’s understanding of responses depending on how you want your services to reflect.

Why Should your Real Estate Business Invest in AI Chatbot Development? 

Technologies are changing the way customers used to interact with businesses. Nowadays, due to the availability of these resources to you as well as your competitors every real estate company has to capitalize on this trend.

The only hindrance for a real estate company is that they can only deliver written text. But nowadays, consumers have grown prone to human interactions. So, it’s suggested that your real estate company starts observing this as a communication medium for potential buyers. 

To make the best of the same real estate agents have to learn how chatbots can be used as a different form of communication. It’s important to understand how AI can be leverage either for Interactive Voice Response (IVR) or text-based communication. As consumers prefer using apps that offer them innovative techs, the use of AI is exponentially increasing in the real estate market. AI-enabled chatbots account for 29.8% of the overall real estate market. In a nutshell,  virtual tech can take your business to unprecedented heights. 

Benefits of AI Chatbot Development in the Real Estate Industry

Millions of people around the world look for their dream home every day with their myriad requirements. Investing in chatbot development is an investment into a learned tech that can deal with all types of consumer requirements. Here are some of the evident benefits. 

Anytime Inquiry

An AI chatbot offers the facility to connect with your platform anytime they want. Generally, companies hire personnel that works in their ‘Customer Care’ department but that have a time limit. With this feature, your app can surpass this limitation and a user can raise their inquiries anytime they want to.

All-Around Availability

Real-estate agents are assigned multiple tasks and it’s difficult to attend to every task personally. A virtual assistant can be used to deliver all the solutions that you want allowing you to concentrate on other business affairs.

Customized Response

Different users have different requirements, and a chatbot can provide for the same by learning their exact needs. This helps personalize your chat experience while increasing your user engagement and satisfaction rate.

Increased Engagement

A human is not programmed to have all the business-related information at its fingertips. A chatbot is designed to serve your users with their exact preferences. By using a series of questions a chatbot studies a client’s interests. Users today are in awe of services that offer them instant information when they ask for it. So, this hugely contributes to an increased user engagement.

Quick Browsing

The advent of on-demand services has made consumers prone to accessing instant information. A chatbot is created with the sole purpose of saving a user’s time by offering quick services. 

Virtual Tours

The new trend of offering virtual tours of the property has received an overwhelming response from users. This allows your consumers to catch a glimpse of a home or property before they make a personal visit. You can offer this feature by using an AI chatbot.

Custom AI Chatbot for Real Estate: Development Process

Yes, you might think that developing a custom AI chatbot would be a difficult task, but it isn’t so. If the real estate app development company you hire follows the right practices, you will get your industry-specific virtual assistant, read at your service. Let’s understand how you can achieve the preceding feat with a stepwise process.

Defining Your Niche

Chatbots have numerous applications in various industries. So, you will have to choose what it is that you’re trying to offer with this feature. Your vision on what you want your chatbot to do will determine the complexity of your application and the features you would need for the same. 

One can use AI chatbots for automating lead generation, validation, increase customer engagement, generate authentic leads, and more. 

Market Research & Planning

Any AI development company you select will emphasize the importance of market research and planning. You will have to do extensive research about your competitors, and what existing features they’re offering through their chatbot. Apart from what your competitors are offering, your consumers also have their expectations. You have to figure those out and other factors that need improvements for your chatbot to appeal to a massive user base. 

After you accumulate all this data you would have to create a functional road map to monitor the development processes. With the same, you would be able to plan for the budget you will need to plan for the same. With proper market research and planning, you will be able to customize your project as per your need. 

Design Different ways to Interact with your Consumers

Now, you will have a complete idea of what your chatbot will deliver in terms of services. But you still have to make it learn ways to interact with your potential customers. This is the area where you can seek expert guidance from an AI development service. 

You can design conversations in two ways i.e. structured and unstructured way. A structured approach consists of menus, forms, and choices while an unstructured format is a casual one. Yet you should ensure that your conversations have relevant questions and a decent flow. 

Tech Stack

A sturdy and robust tech stack is essential to deliver the desired features and functionalities. Therefore numerous real estate companies hire AI developers who have prior experience of working with these techs. Some of the renowned platforms for chatbot development are Flow XO, Motion AI, and Botsify. 

However, approaching a chatbot development service to create a niche service has proven beneficial for many of our clients. Our experts can suggest to you the best chatbot features your real estate app is in dire need of.

Development, Test & Launch

Before moving forward you must have all the necessary information related to creating a custom AI chatbot. After the development phase, you would have to test this feature against numerous devices. Look out for bugs and glitches. When you’re past this phase your app will be ready for launch. 

Wrapping Up

Here’s a wrap on this blog. The majority of real estate businesses are adapting to the concept of AI-Chatbots to increase their rate of customer satisfaction. If you’re looking for real estate app development you’re just at the right place.

We – Technource has worked on several real estate projects in the 9+ years that we’ve served the IT service industry. The market is filled with numerous opportunities and you can make the best of the same by developing an AI chatbot for your real estate app. Get in touch with us today by signing up for a simple consultation form on our website.