AI is Changing the Way People View Homes

The 2024 REALTOR® Legislative Meetings featured a panel titled Emerging Business Issues and Technology Forum where tech industry leaders highlighted how artificial intelligence (AI) and augmented reality (AR) are changing the world of real estate.

Most REALTORS® are probably already utilizing virtual tours for clients who are unable to view a property in person, but the technology certainly has its flaws. Looking at images on a screen can make it difficult for people to understand the scale of an area, and the view they’d have from various points of the room. That’s not to say this technology isn’t helpful but given the rapid pace AI and AR are moving in, those kinks are likely to be rectified soon.

For example, virtual tour goggles may soon become a staple of the real estate industry. Imagine Google’s goggles made specifically for touring houses. The CEO of the Real Estate Standards Organization, Sam DeBord, explained. “You could walk through a property and take video very quickly and easily. That could turn into a 360-degree video, it could turn into a floor plan – it could be all kinds of different things that practitioners could use to improve the consumer experience.” Similarly, NAR Director of Technology Policy, Chris Christensen assured attendees, “REACH is curating a list of new technologies to help your business.”

As we navigate the rapidly evolving landscape of real estate technology, one thing is clear: AI and AR are reshaping the way our clients interact with homes. With advancements on the horizon, the future holds exciting possibilities for enhancing the consumer experience and revolutionizing the way properties are viewed and marketed.