The impact of Artificial Intelligence

Real estate has to get involved in Artificial Intelligence to make a difference in the sector

Real estate experts must actively engage in the development of Artificial Intelligence if it is going to make a difference to the sector. That was the outcome of the Expert Panel that OSRE organised on the PROVADA Future Now platform in collaboration with BLOXS Software to discuss the impact of Artificial Intelligence on real estate transactions and real estate management. On the panel were Vesteda, IC-Netherlands, AMfield Assetmanagement and Ausems Vastgoed.

Impact of AI on real estate processes

At the Expert Panel on the Future Now platform, software developers and real estate organisations discussed among each other the impact Artificial Intelligence (AI) could have on the sector and what is necessary to get there. AI technology will significantly change the following processes according to the experts:

  • Lead scoring
  • Lead support & Customer service
    Approvals and selection (the perfect tenant)
  • Pricing
  • Value forecasts
  • Valuations

Creating the values to embrace Artificial Intelligence

The expert panel was unanimous that the real estate sector is ready to embrace AI. However, in order to be able to successfully implement AI, a basic level of digitalisation is required within organisations. Experts see that various organisations are now putting in place the underlying software required.

Challenges

However, the challenge lies in the willingness of the real estate sector to work together. Many real estate parties, often larger and long-established, are in many instances still working in isolation rather than pooling their expertise to jointly come up with valuable solutions that will benefit the whole sector.

Collective creativity to make a difference

Experts are appealing to the sector to be collectively creative with software developers, real estate experts and communication parties so that Artificial Intelligence can make a difference in the sector.

The Expert Panel

The Expert Panel was an initiative of proptech organisations OSRE and BLOXS, which are both busy developing Artificial Intelligence in the field of qualifying tenants and implementing AI to forecast real estate values.

Experts

We thank OSRE WoningDossiers for organising the expert panel and Jurjen Thomas, Sybren van Putten, Dick Ausems MRICS, Moreno Monsanto, Jolbert ten Napel and René Jansen for their valuable contributions.

Source: Karlijn van Gageldonk, Osre WoningDossier

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