5 Ways Conversational AI Technology Automates Realtor Lead Qualification
March 23, 2021
Real Estate

Artificial intelligence is one of the hottest topics in sales and marketing today. You can use it for lead generation, lead qualification, customer service, and even website traffic optimization.

However, not all AI solutions are equally effective and efficient. In fact, most companies don’t see results after investing in an artificial intelligence platform.

This article will detail ways conversational AI technology helps Realtors automate their lead qualification to boost business revenue by converting more of your real estate leads into customers.

What is Conversational AI?

Conversational AI technology leverages two-way conversation using technology to automate the exchange. For lead qualification, the human-like interaction bridges the gap between humans and computer language.

Consider a conversation with your online lead, for example. Once the user submits the form, your AI Assistant immediately responds via messaging, usually text and email, to the opportunity to qualify the lead at scale, 24/7/365.

Think of all the follow-up you have to do to move a lead through your buyer journey. Then, compound that by the hundreds of leads you drive monthly.

The AI can learn from its mistakes and improve its performance over time

Can you remember back when you were learning to speak?

I realize for some of us, that was a very long time ago. But, it is an excellent way to visualize how AI technology learns.

When you were learning, you read books or hear books read to you. Over time you picked up on what to say and how to say it.

It is similar to AI technology; it uses your sales scripts to set a baseline. Your scripts allow the AI to learn how you interact with your customers and how they interact with you.

There are also ways to leverage industry best practices or script customization to accelerate the learning process and map out the conversation. Not to get too technical, but the scripting framework sets the AI up for initial success.

Once the baseline is set, the AI learns from each conversation it has. Not only when it makes a mistake, but also when it has successes.

The AI is trained to ask the right questions at the right time for each customer

As detailed previously, the initial scripts provide the intents needed for the AI to know when and how to ask questions. For Realtors, that process includes the data gathering required to understand if the lead is buying or selling, their price range, how many bedrooms, etc.

The AI continues with the conversation until they know when a decision will happen and, ideally, how they can get the agent or team an appointment.  

Conversational AIs are not biased; they will treat all customers equally

A recent Salesforce survey reported the expectation of consumers to have a consistent conversation across all channels. 75% said they would switch companies if their experiences were lacking.

Consumers’ expectations and the growing number of channels make it difficult to manage, but the message’s consistency is critical.

Download our FREE ISA Kit complete with 4 checklists, 2 Guides, 2 Case Studies, and 1 Script

AI technology provides a win-win for Realtors; a consistent experience across platforms, generally text, and email, as well as equal treatment of everyone.

Not to mention, the AI never has a bad day or comes to work with baggage that affects its mood like us humans sometimes do.

So, you can still qualify leads while you’re in an open house or while you’re sleeping.

The AI’s responses are customizable based on your company’s brand voice

As AI technology continues to grow and evolve, so does the use in different industries.

While there are solutions that leverage industry best practices and suggested scripts, the best use case for teaching AI technology starts with your sales scripts.

That ensures it communicates with your leads as you would and reflects your brand standards and your unique voice. Then, you can customize the scripts based on lead type or source.

AI has also been created to react to the user’s dialect to provide bilingual support that sets a new playing field for Realtors.

It’s easy to integrate a conversational AI into existing CRM systems

Integrating AI technology with your CRM should be a no-brainer. The last thing you want is another password or another step that adds complexity to your lead process.

There are differing integrations dependent on the CRM you have. An ideal state is a two-way integration where the lead passes to the AI Assistant to carry on the qualifying conversation. Then, the conversation passes back to the CRM so you there live or after the fact.

Your AI Assistant is also a great supplement to your ISA team, considering most are incentivized to set appointments. In that relationship, your AI Assistant sets up your ISA team to move more business through your funnel by handling the qualification and a warm lead handoff.

Yet, your AI Assistant can workout an ISA team to hand off the warm leads to an agent or however your leads route in your CRM.

With an AI assistant, your lead qualification process will be a breeze. The benefits of automation are clear: more revenue and closing more business!