Editor's note: This brief was summarised by The Property AI Team from a report by PropertyWire. Read the original article for full details.
Estate agents use AI for listings but neglect sales tools
Two-thirds of estate agents use artificial intelligence tools to write property descriptions, but adoption for sales-critical functions remains minimal, according to new research. A survey of 250 estate and letting agents by customer relationship management platform Alto found that 69% use AI regularly or daily.
However, 85% limit its application to four tasks or fewer: property descriptions (67%), emails (53%), administration (37%), and marketing and social media (35%).
Limited adoption for sales progression
Usage drops significantly beyond these core functions. Only 10% of agents deploy AI for property valuations, while just 5% use it for anti-money laundering and compliance checks. Most notably, only 4% – one in 25 agents – apply AI to sales progression, the process of managing transactions from offer acceptance to completion.
The findings suggest agents are prioritising AI for marketing materials rather than transaction management.
A fifth of agents surveyed do use AI more extensively, including for out-of-hours enquiry responses, identifying potential sellers, compliance management, and performance tracking.
Industry concerns persist
The research also revealed concerns about AI implementation. Some 76% of agents worry about losing personal client relationships, while 64% expressed concern about potential errors. Despite these reservations, half of respondents expect to increase AI spending over the next 12 months.
Riccardo Iannucci-Dawson, Chief Executive of Alto, said: “Most estate agents have discovered AI the same way the rest of us did, tidying up emails and marketing copy. There’s nothing wrong with that, but it’s the same tool doing the same job for every agent on the high street, so nobody gets ahead with it, and it’s not going to help you sell your home faster.”
He added: “The fifth who are pulling away have pointed it at the bits that actually decide whether your sale goes through: answering enquiries at 9pm, chasing solicitors, keeping the paperwork and compliance in order.”
Source: PropertyWire