Two birds with the same stone, Artificial Intelligence to help buyers get the most suitable property, as well as for real estate developers, may indeed be the reason for a sea change, AI will be the next revolution for the real estate market, as it can offer multiple scenarios for real estate projects, in terms of area, location and design as well as cost, time and what you need of building supplies, which contributes to saving time and effort and reducing waste in building materials.
Algorithmic Solutions
These algorithmic solutions will provide access to data or documents, follow them and make any changes to them anytime and anywhere, through an application on computers or smartphones, allowing all levels of management of real estate developers to follow up in real time and provide solutions to any emergency issue that occurs during the project phases.
Algorithmic solutions
But how? Computer algorithms can now go through millions of documents in seconds, looking at property values, debt levels, home renovations and even some personal information of the homeowner.
But how?
Predicting market trends and prices
Not only that, but also finding homes that are likely to be sold in the next 12 months, predicting the future prices of properties based on market data, analyzed such as market activities, services, schools and crimes that occur in the areas of the targeted residential units, predicting future rents, market trends and the relationship between supply and demand prices, by using more than one method to analyze all data related to the house.
Predicting future rental values, market trends and the relationship between supply and demand prices, by using more than one method in analyzing all data related to the house.
AI and price assessment
such as the last time the house was sold, and how long the owner has owned it, the house can be predicted to be for sale, so the real estate developer can contact the homeowner, offer his services, and get a suitable offer much higher, in addition to that AI enables real estate professionals to evaluate the price of their properties compared to other properties in the market, search for certain types of houses in very specific locations, enter snapshots of interior and exterior spaces, and then get instant alerts when something happens that hits the market quickly and immediately; the moment in the real estate market makes the difference.
The process of buying and selling homes will no longer be an arduous one, due to transparency between buyer and seller, and the speed of completion will be fully automated, with accurate information for all parties.
*Architect and faculty member at King Saud University
@Archesham
