Mal McCallion, CEO of Modelprop, presented at the PropTech and Portal Watch Conference in Barcelona and argued that the real estate industry is on the verge of significant disruption due to the advancements in artificial intelligence (AI). He believes AI will empower UK estate agents to become less reliant on traditional advertising channels like property portals, which he argues have become less effective. (View Highlight)
Based on his experience launching both Primelocation.com and Zoopla, McCallion pointed out that portals have gradually reduced their function as gateways to other sites, limiting the information available to consumers and focusing primarily on lead generation. He argues that AI can help estate agents reclaim their role as the primary source of property information by offering consumers personalized and comprehensive data beyond traditional portals’ limitations. (View Highlight)
Modelprop is developing AI tools that enable estate agents to offer:
• Voice Search: Allowing potential buyers to articulate their specific property desires through natural language, which expands search capabilities beyond traditional filters.
• Data Promiscuity: Utilizing AI-powered web scraping to aggregate property data from various sources, reducing reliance on portal databases.
• Unique Data Integration: Digitizing and incorporating an agency’s historical data, like old property records, to provide unique insights and reinforce their expertise.
• Personalized AI Assistants: Equipping agents with AI tools that provide instant answers to customer queries, property information, and local market knowledge.
• AI-Enhanced Property Videos: Creating dynamic videos using AI avatars, music, and virtual staging to showcase properties in a more engaging and personalized way.
• Local Market Expertise Showcase: Demonstrating an agent’s deep understanding of their area by offering AI-powered insights into local businesses and services that go beyond property information. (View Highlight)
