Artificial intelligence use is on the rise in real estate but more than 50% of brokerage executives are concerned about the perceived lack of safeguards, a new study found.

NEW YORK – AI adoption in real estate is on the rise, with 75% of U.S. brokerages already using the technology and nearly 80% of agents embracing the AI tools, a recent poll found.

More than 80% of real estate agents use AI to craft property descriptions daily, while 67% use it to create emails, letters and blog posts. Sixty percent of agents and brokers prefer to use AI to create social media content, and 44% and 43% of agents and brokers, respectively, are using AI tools to create website content and personal bios.

However, more than 50% of real estate brokerage executives are “concerned or deeply concerned” about the perceived lack of adequate safeguards surrounding AI, which would otherwise curtail their exposure to associated risks and liabilities.

Analysts expect AI personal assistants will gain ground in offices in 2024, but 11% of brokerage leaders do not have any intention of integrating AI into their operations.

Source: RealtyBiz News (01/17/24) Udrea, Victoria

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Author: amyc