Artificial intelligence is here to stay. Although there is still much to be perfected, the real estate market is already able to benefit from this science in a very interesting way.
Artificial intelligence will never be able to replace natural intelligence, that is to say, that which is linked ‘to the human’, to the capacity of people, not only to analyse and evaluate, but also to decide which is the solution that best resolves a given problem. However, real estate agents and, consequently, our clients, can take advantage of artificial intelligence to make our work more effective and to deal with our day-to-day tasks in a much more comfortable and effective way.
But what are the benefits that artificial intelligence brings to the real estate market? How can owners on the Costa Blanca sell their property more efficiently thanks to this science?
Faster attention
Artificial intelligence is capable of learning from its environment to the point ofoffering appropriate answers to the questions most frequently asked by home buyers and sellers. In this way, it is possible to install chatbots on any website, a tool that, equipped with the appropriate information, is able to respond instantly to some of the most common customer questions.
On the other hand, artificial intelligence systems also make it possible to automate property searches. In this way, buying a house on the Costa Blanca is becoming a much simpler and more intuitive process.
It allows you to visit your home virtually
Nothing can match the experience of visiting a property in person, feeling the fragrance of every corner, appreciating the sound of the environment or talking face to face with the real estate agent responsible for the sale. However, lack of time or distance means that this experience cannot be enjoyed by everyone.
Virtual tours make it possible to show a property to buyers from anywhere in the world and help them make a much more complete purchase decision.
Virtual tour for a townhouse in Teulada
Improve the quality of your photographs
Another advantage of artificial intelligence is its ability to improve the quality of an image automatically. Improving a photograph does not mean ‘painting’ it to make it look like something it is not. Improving means: retouching the lighting, correcting shadows, eliminating reflections, giving homogeneity and, in short, making the house show its full potential, a potential that is sometimes hidden due to unprofessional photographs.
Until now, all this was a manual process. Thanks to artificial intelligence, photo retouching can now be done much more quickly and efficiently.
Ibiza style villa in Moraira Ref. 2349V
Set the exact price for your home
Artificial intelligence algorithms are capable of analysing large amounts of data. Focusing on real estate, we would be talking about data such as: location, square metres, year of construction, number of bedrooms, number of bathrooms, nearby services in the area etc. This information can be used by the tool to offer a price valuation of the property based on the value for which properties of similar characteristics are sold in the area.
This information is very useful for real estate agents when estimating the starting price of a property. However, it will be necessary to combine this estimated price value with other more qualitative aspects and the real estate agent’s experience in the sale and purchase of similar properties in order to arrive at the final starting price of the property.
Calculate the profitability of a property
The AI allows you to estimate the right price at which you should sell, but also at which you should buy to make a good property investment. The Costa Blanca has always been an attractive destination for both national and foreign investors. The scenic beauty of the area, the climate, the quality of life and its competitive prices, among others, make the Costa Blanca an ideal place both for a second home and for a pleasant holiday period.
Artificial intelligence enables small and medium-sized investors to make more profitable real estate transactions thanks to its ability to analyse large amounts of data and make decisions based on it.
In our article Profitability on the Costa Blanca for buying and selling we show you a ranking of the most profitable towns on the Costa Blanca to invest in property.
Do you own a property on the Costa Blanca and would like to know what profitability you can achieve? Analyze the profitability of your property and find out if it’s more profitable for you to sell or rent it out.
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Predicts market trends
The great analytical power of artificial intelligence allows, not only to estimate timely purchase prices, but also to predict future market trends. This is of vital help to real estate agencies as they are able to get ahead of other agencies that do not make use of this technology and adapt their actions in a much more precise way.
To find out the evolution of both prices and number of sales and purchases on the Costa Blanca you can download our latest Costa Blanca real estate report.
>> Download real estate report [Costa Blanca] <<<
Identify the ideal buyer
Selling a property is much easier if we know which buyer profile to target. In this way, we can focus our marketing actions towards our ideal buyer and achieve a much faster sale and with a lower economic investment. This is undoubtedly another of the great advantages of artificial intelligence in the real estate sector.
Artificial intelligence can help in your real estate transaction by shortening sales times and maximising the profit you can opt for, however, it will always require the management of a real estate agency to make sense of all the information that artificial intelligence provides and to implement each of the actions.
Are you thinking of buying, selling or renting a property on the Costa Blanca? At Hispania Homes you can find the advice you need.
