The property sector is increasingly moving beyond discussions about artificial intelligence (AI) to consider its practical application as an operational tool. The focus for agents is on identifying areas where time is lost and inefficiencies affect occupancy, tenant satisfaction, and revenue.
One example of AI's application is in automating property viewings. A recent pilot by Vinny with Allsop Letting & Management at The Chapters estate in Ely enabled suitable applicants to qualify, book, and access properties without an agent present. This process led to 30% of available units being leased within just over a week, freeing agents to focus on other tasks.
AI can also add value by handling repetitive tasks associated with tenant interactions, such as responding to enquiries, answering common questions, and qualifying applicants. As tenant enquiries become more numerous and complex, AI can help agents summarise lengthy messages, identify key points, and determine which issues require immediate attention, leading to faster and more consistent responses.
The next phase of proptech is expected to see technology embedded into how lettings teams operate, with AI working in the background to help teams respond faster, reduce manual work, and concentrate on tasks with the greatest commercial value.