Chatbots for Real Estate: How to Choose the Right Solutions for Your Business Real estate is one of those industries where communication plays an essential role. However, not all people who contact real estate agencies are qualified leads that will buy a flat. Thus, many real estate brokers waste their time answering the same questions from people who would never return to sign a contract.
2022-05-21 15:49:18

Real estate is one of those industries where communication plays an essential role. However, not all people who contact real estate agencies are qualified leads that will buy a flat. Thus, many real estate brokers waste their time answering the same questions from people who would never return to sign a contract. 

This is where chatbots come in handy. By using real estate chatbots, agencies can not only qualify leads and send follow-ups, but also improve engagement and increase sales.

In this article, we will tell you about chatbots for the real estate segment and how you can build one that will perfectly suit your business strategy.  

But first, let’s find out what benefits chatbots bring to real estate businesses. 

Benefits of chatbots for Real estate 

When selling real estate, agencies, and real estate agents receive many queries from prospective customers who want to know more about the development. In a perfect world, a real estate agent gets in touch with potential buyers and handles the one-on-one conversation which results in buying a house or a flat. But in the real world, the selling process appears not as simple as it seems. Often people, who received detailed information from a real estate broker, disappear, or the real estate agent could not physically handle all queries from potential clients. To get deeper insights into the Real Estate segment, we asked Nadiia Pavlik, a Real Estate broker from Keller Williams Chicago - Lincoln Park, to share her experience in communicating with clients. 

Chatbots might bring the following benefits to real estate businesses: 

  • Immediate responses. A chatbot can answer the client’s queries immediately via a website, messenger, or social media, like Facebook. While Chatbots save up to 30% in customer support costs, clients do not have to wait for answers from a human agent about their interest in a property. 

  • Availability 24/7. Unlike real estate agents, who might not be available throughout the day, chatbots provide your customers with information outside of working hours. Besides, chatbots can help you to save on customer service costs by speeding up response times and answering up to 80% of routine questions.
  • Personalized offers. All customers are looking for different types of apartments and property types. Chatbots provide customers with a series of questions to come up with more relevant offers, which is more effective than collecting information via physical copies or forms.
  • Improved leads qualifying. Chatbots can qualify your potential leads by comparing their behavior with the behavior of the previous clients and assigning them scores of lead maternity. In this way, your real estate brokers can communicate with only highly-qualified leads.
  • Automated scheduling. When the chatbot qualifies the lead as a potential buyer, one can schedule a home tour via chatbot. Besides, bots can introduce the client to a real estate agent for more detailed communication.  
  • Effective follow-ups. You can enable your chatbot to send automated follow-ups to potential customers via the medium they choose, including email, social media, messengers, or even SMS.

Now that you are aware of chatbot benefits for real estate, let’s find out what type of chatbot will meet your business goals. 

Types of chatbots for real estate

Chatbots vary depending on use cases and complexity. Currently, there are three types of chatbots: 

Scripted bots

Scripted, or rule-based is the simplest type of chatbot. They have strict logic to search commands in the input text. Such bots are programmed to answer simple questions or perform simple actions. You can use them as online assistants for answering the FAQ section or collecting customers' personal information. 

You can create this type of bot without help from bot developers using the following DIY bot-builder platforms:

By using these platforms you can develop a simple bot for your website, messengers, or social media such as Facebook. At the same time, consider that bot-building platforms do not provide a lot of room for customization of a chatbot interface. 

But if you are looking for a solution to optimize business processes, you can choose between the next two types of chatbots. 

Platform-based AI chatbots

This type of bot uses more sophisticated data processing technologies, such as Natural Language processing to process user input and provide relevant not-prescripted answers. You can build such a bot for providing users with relevant results from your real estate catalog and lead qualification. 

You can build an AI-chatbot using a ready-made platform, such as:

  • IBM Watson Assistant 
  • Semantic Machine

Or even machine learning bots with cognitive abilities using: 

  • Microsoft Azure 
  • Chatbot Platform
  • Dialog Flow platform

Most of these platforms support integration with websites and most popular messengers such as Whatsapp, Facebook Messenger, and Telegram. 

If you want to develop such a bot, you may need help from chatbot developers for initial bot settings and training. 

Platform-based AI-chatbots are the best option if you have a small business and do not need custom functionality. But if you do, consider the next type of chatbots.  

Custom NLP and AI chatbots

Such chatbots are custom applications created by developers. You can apply AI bots for solving particular complicated business issues, such as providing customers with personalized flat recommendations, scheduling an appointment with a real estate agent, saving communication with a customer in ERP for relevant recommendations, and so on.

The most popular programming languages for developing custom chatbots are: 

  • C++ 
  • Java
  • Python 

 Developing custom chatbots is the most time and money consuming option. Still, it is quite popular among big companies and enterprises, since custom code gives you the possibility to empower the chatbot with any feature, type of customization and integration to meet your business needs.