Artificial Intelligence (AI) and automation have been making waves across various industries, and the commercial real estate sector is no exception. While adoption has been relatively slow compared to other fields, the trends indicate a gradual yet significant shift towards integrating these advanced technologies into daily operations. This transition promises to revolutionise the industry, making processes more efficient and freeing up valuable time for agents to focus on client interactions and strategic activities.
⏭️ Moving Towards Automation: CRM Systems and Beyond
The shift from manual tracking and spreadsheets to online Customer Relationship Management (CRM) systems is another trend that signifies the increasing adoption of automation in commercial real estate. These systems create a more efficient and automated way of working, streamlining operations and enhancing productivity.
At Surga Central, we have embraced this shift by integrating automatic software with portals for automatic enquiry capture. An automatic enquiry response system that works seamlessly with the enquiries captured from portals. And recently a triple threat was launched to automatically profile enquirers. Now, you can receive, respond to, and categorise enquries —all without lifting a finger.
These innovations are designed to improve efficiency and ensure that agents can respond to potential clients quickly and effectively without lifting a finger.
🏢 AI Tools: Transforming Property Descriptions and Marketing
One of the most notable uses of AI in commercial real estate, so far, has been through platforms like ChatGPT. Agents have started leveraging these tools to write compelling property descriptions, feature highlights, and headlines. This saves considerable time spent at the computer and ensures that agents can dedicate more time to market activities such as leasing and selling. The ability to generate high-quality marketing content quickly and efficiently is a significant advantage in the fast-paced real estate market.
🖼️ Generative AI: A Game Changer for Visual Content
The recent use of generative AI to create mock-up fit-out imagery and enhance photo touch-ups marks a new level of technological advancement for the property industry. An agency, referenced in REB (Real Estate Business) article "Generative AI isn’t going to have an impact on your industry – it already is" successfully utilised this technology to produce high-quality images in a fraction of the time it would take using traditional methods.
Similarly, in the residential sector, realcommercial.com.au published "Realestate.com.au takes on renovation market with AI tool" showcasing a new digital tool for prospective buyers to renovate the listing photos using AI. This is a game-changer for home buyers!
This "Photoshopping" capability can be a game changer for real estate agencies, enabling them to present properties in the best possible light and expedite the marketing process.
📦 Thinking Outside of the Box with Smart Buildings
A positive use for AI in regards to commercial property is to use the available datasets to manage building efficiencies and sustainability.
Development Ready posted an article on "How Artificial Intelligence Will Reshape the Australian Workplace" and shared insights on what the next decade could look like in the commercial property world. Notably, office design, lowering outgoings, smart buildings and technology infrastructure.
Commercial Real Estate Australia shares further property management strategies in "How AI in the office could change your life", streamlining management of building temperatures, reducing wasted space and even structuring how the furniture operates.
The future is here and the potential is vast. Imagine the technology from sci-fi movies in everyday life!
✅ Embracing the Technological Evolution
The adoption of AI and automation in commercial real estate is a journey, one that requires continuous learning and adaptation. At Surga Central, we are committed to staying at the forefront of this technological evolution. We will continue to develop more automation and AI integrations, ensuring that our clients benefit from the latest advancements.
While the adoption of AI in commercial real estate has been gradual, the trends are clear. The industry is on the brink of a technological transformation that promises to enhance efficiency, productivity, and client engagement. By embracing these changes, agencies can position themselves for success in an increasingly competitive market. We look forward to watching this exciting journey unfold and to being a part of the innovation that shapes the future of the property sector.
For more information on Surga Central, contact us at sales@surgacentral.com for a demonstration. 📧