REAL ESTATE CHATBOT top nine real estate chatbot usage cases & best practices in 2022

Although it is difficult to quantify the impact of chatbots in a specific industry, according to a survey, real estate is the industry that benefits most from chatbots, adhered by travel, education, and medical care. Chatbots are offered 24/7 for instant responses, provide personalized discussions with clients, schedule and update viewing appointments, and can automate follow-up processes. In addition, real estate agencies can rely on a chatbot to generate leads as AI chatbots become better at identifying user intent and engaging in meaningful conversations.

Here, we explore the critical use cases of chatbots in the real estate industry:

Why are chatbots important to the real estate industry?

A 2017 survey showed that a real estate buyer’s first step is to search for properties online and that it takes an average of 10 weeks to decide on a property. 9 out of 10 participants younger than 62 years old said that the essential feature of online search is property photos.

Chatbots help people search for properties to buy or rent from a customer perspective because they offer the following.

  • 24/7 service: most individuals search for properties outside of working hours, making it harder to reach a live agent.
  • Immediate responses: businesses that use chatbots in their customer service department save up to 30% on costs through faster, faster times.
  • Multiple language choices: This is especially important for foreigners moving to a new country where they don’t speak the language.
  • Interaction options beyond text: Chatbots can help customers navigate through a property’s images, for example, which can be very useful for properties with numerous pictures. Of course, users can alternatively navigate through the gallery. After viewing the images, they can immediately ask the bot more questions or skip the property altogether.

Real estate agents can focus on finding properties and optimizing their marketing strategy by using chatbots. Chatbots can lead to financial savings of up to $23 billion in annual salaries.

What are the top use cases for chatbots in the real estate industry?

Here are the top 9 use cases for chatbots in the real estate industry:

1. Generate leads from digital users

Typical chatbots pop up as soon as a customer opens a website. Real estate chatbots can begin a conversation with an online user about the purpose of their visit to the agency’s website if they are looking to buy, sell or rent a property, and ask for their contact information. Chatbots can engage potential customers, send them emails about properties relevant to their search queries, or inform them about promotions and campaigns for rental properties via SMS.

2. Create customer profiles

Chatbots can ask users questions to understand their preferences in regards to.

  • Location, city, town
  • Budget
  • Needs (e.g., rent, buy, lease)
  • Property kind (e.g., apartment, house, condo)
  • Number of rooms, washrooms, backyard options, open or enclosed garage

Chatbots can collect this information from users to create a profile for each user and provide personalized real estate options and offers.

3. Answer concerns about properties

Users searching for properties to purchase or rent may have questions about the properties that are not directly available online, such as average monthly bills, the history of the building, and previous owners or tenants.

Chatbots can access the agency’s database where this information is stored, and they can provide the information to potential customers following the agency’s privacy policy. Chatbots can also answer frequently asked questions about the agency, working hours, available locations, etc.

4. Offer virtual property tours

Suppose users are interested in a particular property but are not yet ready to schedule a viewing. In that case, chatbots can offer a link for a 360° virtual tour to give them an idea of the exterior and interior of the property. Customers can also ask the bot to show a specific room or feature of the home or provide more information about the rooms and dimensions.

5. Arrange viewing appointments

Real estate chatbots can be set to search agents’ calendars and offer available days and time slots for customers to choose from. Users can schedule a viewing appointment with a live agent through the chatbot. Once the user selects a date, the chatbot automates the scheduling, adds the event to the agent’s calendar, and sends emails or messages to the client to confirm.

6. Follow-up after property viewings

Chatbots can contact customers directly via message or email after a property inspection to ask them if they have decided to buy or make other suggestions if they are still looking. Follow-up ensures that clients stay in touch with the brokerage. For instance, it is claimed that engagement can be up to 113% higher due to follow-up texts.

7. Mortgage option checking

Users can use chatbots to check if they are eligible for a mortgage, ask them for tips on how to qualify, and apply for a mortgage through the chatbot. Real estate agencies can link their chatbots with partner banks or lending institutions to provide direct information about potential clients.

One survey found that 16% of buyers search online for more information on how to get a mortgage and general tips for homebuyers, and 14% apply for a mortgage online.

8. Collect reviews

After completing a purchase or signing a lease, a chatbot can reach out to a client via customized emails to ask them to fill out a survey about their experience or via text messages to have a conversation and understand their overall satisfaction with the agency.

Collecting customer reviews helps companies understand the strengths and weaknesses of their strategies. Can also post customer reviews on social media or company channels to increase credibility and influence clients’ and prospects’ decisions when selecting a real estate agency.

9. Analyze market patterns

Chatbots can maintain a history of conversations with clients and prospects. Can import this data into analytics tools to understand current real estate market needs, analyze search queries for trends, and make predictions about market conditions, investment opportunities, property purchases, and prices.

What are the best practices for real estate chatbots?

To get the most out of your real estate chatbot, consider the following best practices:

  • Integrate the chatbot with the company’s social media platforms. Statistics show that social media activity leads to 45% more sales opportunities.
  • Add images and videos of properties to the chatbot database to increase the likelihood of viewings and customer interaction. In one survey, 55% of homebuyers said their most important function when searching online was to find property floor plans.
  • Let the chatbot suggest information about upcoming viewings.
  • Integrate a chat feature into online ads. Once a client clicks on the ad, they not only find a text about the property but chat with your chatbot, which provides them with information and collects their contact details for further communication.

Real estate chatbots have definitely gained traction in the last few years, but they’re not limited to just that. According to Google Trends data, searches for “chatbots for REBOOTS” increased by 19 times between 2010 and 2015.

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