"One thing that has historically emerged from any Proptech discussion is that technology can’t replace great people and it’s clear that this sentiment remains today"
- Colby Short - GetAgent
The survey of UK estate agents, commissioned by GetAgent, found that 64% of those surveyed are already utilising AI within their day to day operations.
AI technology is evolving at a rapid pace and it’s not just software such as ChatGPT that can be utilised by agents, with a wealth of industry specific products such as Greenhouse OS, ReimagineHome and ModelProp, all designed to conduct tasks that would have previously been carried out by agents.
When asked which areas AI is being used across most frequently, the ability to quickly generate copy such as listing descriptions ranked top, with social media management, voice to text conversion and customer engagement also ranking highly
When asked about the key benefits gained from utilising AI technology, agents ranked improvements to operational efficiency and accuracy as the biggest draw.
The ability to bypass laborious or less important tasks was also a plus, as were the ability to improve the product and service offering delivered to clients and the ability to keep both marketing spends and staff costs to a minimum.
No surprise then, that 60% of agents believe they will increase their reliance on AI technology as it evolves.
However, the majority agree that whilst this technology can be beneficial, there’s no substitute for great staff.
Just 20% of those utilising AI allow the technology to carry out tasks in their entirety, with 80% opting to maintain a human element to monitor it.
What’s more, 88% believe that AI technology is only as good as the people using it.
Co-founder and CEO of GetAgent.co.uk, Colby Short, commented: “AI has fast become the new frontier of digital disruption within the property sector and whilst it remains in its relative infancy, a high proportion of agents are already utilising existing tech to help improve their business.
"Of course, one thing that has historically emerged from any Proptech discussion is that technology can’t replace great people and it’s clear that this sentiment remains today.
"At GetAgent, we know this all too well. Whilst we utilise data and technology at the heart of our proposition to deliver industry leading insight, none of this would be possible without the army of outstanding people who work tirelessly to maintain the platform.
"So while AI technology is no doubt helping estate agents to improve their proposition, it’s the people at the core of the business that will continue to add the greatest degree of value.”
