AI set to control agency marketing and negotiating by 2027 – claim

Artificial intelligence (AI) will assume control of agency marketing and negotiation by 2027, an industry figure has predicted.

Chris Buckler,  founder of self-employed brand The Estate Agency, has suggested a “seismic shift” is happening now in the agency sector, as AIis redefining the role of agents, enabling them to service three times the number of clients in half the time.

He said: “I predict that by the end of 2027, AI is poised to assume control of marketing and negotiation, stripping these tasks from the agent’s arsenal. However, this is not a demise of the agent’s influence, but rather an evolution. Agents will focus on what they do best: advising and influencing clients from the comfort of their living rooms.

“The future of estate agency is not about being a jack-of-all-trades, but a master of the human touch. AI will free up agents from the mundane, allowing us to concentrate on high-value tasks that require empathy, expertise, and emotional intelligence. We are already witnessing the AI-driven removal of marketing and negotiation tasks, as well as industry automation.

He cited examples of Foxtons introducing AI-driven pricing tool to help agents value properties more accurately, reducing the need for human negotiation, while Purplebricks has launched virtual valuations, letting homeowners receive virtual at-home valuations online.

Additionally, tools such as ProspectorPro are streamlining agent workflows by listening to calls and transcribing notes directly into the CRM against the relevant contact.

Buckler added: “AI will not only augment the role of agents in the medium term, but also potentially replace some of them with members of the public who prefer a more DIY approach. We’ll see a rise in the ‘For Sale by Owner’ options, where homeowners opt to sell their properties without the aid of a traditional agent. AI-powered platforms will provide the necessary tools and support for these homeowners, further disrupting the traditional agency model which could lead to Purplebricks’s eventual profitability. 

“However, this disruption also creates a huge opportunity for agents who are early adopters. Imagine a world where you never have to manually input notes into a CRM again, and your marketing functionality is created and implemented by AI. Well, that world is here today. Agents that go above and beyond for their clients that combine AI into their offering will be in a position to dramatically increase marketing share and profitability. “

As AI assumes responsibility for marketing and negotiation, Buckler said estate agents will need to adapt and refine their skills.

He said: “The ability to influence and advise clients will become the hallmark of a successful agent. Agents who fail to evolve will be left behind. However, those who seize this opportunity will thrive in a future where technology and human expertise combine to deliver unparalleled client experiences.

“As the estate agency sector stands on the cusp of this revolution, one thing is clear: the future of estate agency will be shaped by those who dare to reimagine the role of the agent.

Kindly shared by Estate Agent Today Picture courtesy of Adobe