In an American first, a luxury real estate group in the US has created an AI avatar that buyers can liaise with to search for homes.
Luxury Realty Group (LRG) has developed a conversational AI-powered virtual assistant in the form of an avatar that transforms the search experience for people who are looking to buy luxury homes and high-rise condos.
Buyers are now able to interact directly with the AI avatar, which will mean they no longer have to manually enter search criteria and instead, they will ask the avatar to show them homes that match their requirements.
The avatar will also send alerts to buyers and suggest properties they might consider as part of their search.
The company is also aiming to release an update, which would allow buyers to request a conversational walk-through home tour.
To aid sellers, LRG is looking at ways it can use the avatar to help tell interesting tales and anecdotes that went into the design and creation of the home, based on what the vendor has told the AI.
The AI is being developed in conjunction with Kore.ai, a leading enterprise AI platform and solutions company.
Kore.ai Founder and Chief Executive Officer Raj Koneru said the new technology marks an exciting time for the real estate industry.
“We are excited to see all kinds of businesses explore and experiment with conversational AI technologies for customer experience,” Mr Koneru said.
“We see a significant opportunity to create value for consumers and sellers in this space through automated self-service, and personalised and contextual conversational experiences powered by our platform technology.”
LRG Owner/Broker, Bruce Hiatt said the agency had been using technology to assist buyers and sellers, but this new development would accelerate the process.
“Now with AI technology, we believe we can do so much more,” Mr Hiatt said.