New research reveals that two-thirds of estate agents are using artificial intelligence tools to write property descriptions. However, the adoption of AI for functions critical to sales remains minimal.
A survey of 250 estate and letting agents, conducted by customer relationship management platform Alto, found that 69% use AI regularly or daily. Despite this, 85% of agents limit its application to four tasks or fewer, with property descriptions (67%), emails (53%), administration (37%), and marketing and social media (35%) being the most common uses.
The research highlights a significant drop in AI usage for sales-critical functions. Only 10% of agents use AI for property valuations, 5% for anti-money laundering and compliance checks, and a mere 4% apply it to sales progression, which involves managing transactions from offer acceptance to completion.
Concerns about AI implementation persist among agents, with 76% worried about losing personal client relationships and 64% expressing concern about potential errors. Nevertheless, half of the respondents expect to increase their AI spending over the next 12 months.