AI, Outsourcing and Creating a New Link in the Value Chain for Real Estate
“By outsourcing work such as data cleaning, management and administration to automation technologies, there are simply more hours in the day for the human resources in your business (offshore or onshore) to dedicate to more dollar productive tasks that require emotionality at the customer interface.”
Offshoring has long been understood as a means of leveraging the different links in the value chain to ensure that onshore team members are focused on the most valuable work; but can artificial intelligence, automation, and data science add another link? Absolutely.
These new technologies are less like the traditional software tools that we are accustomed to – they are not screens with buttons that a user must push to complete work. When you combine the capabilities of artificial intelligence to mimic human intelligence and then you add in the ability for it to work automatically without a human user, you start to end up with a solution that feels much more like someONE you work WITH rather than someTHING you work ON.
It is a big shift. Yet the essence of artificial intelligence is to give knowledge workers, like real estate agents, the exponential lift in productivity that manual labour workers got out of the mechanical advancements of the industrial revolution. To do that, you have to recognise that Ai, automation and data science (as a group of technologies,) are best understood as solutions to resourcing, rather than existing for technology’s sake.
New technologies, such as RiTA by AiRE are capable of producing intelligent work outcomes and therefore begin to add to the value chain of resourcing that exists in a business. By outsourcing work such as data cleaning, management and administration to automation technologies, there are simply more hours in the day for the human resources in your business (offshore or onshore) to dedicate to more dollar productive tasks that require emotionality at the customer interface.
RiTA is a digital employee that helps real estate agents find and nurture relationships through hyper-personalised prospecting and customer service.
Created by software company AiRE, RiTA combines data from your CRM and the market to create a prioritised list of prospects for agents to contact, and she tells them what to say when they make contact.
RiTA can also automate intelligent and scenario-specific replies to buyer enquiries, freeing up your human resources to be more, well, human.
The essence of productivity is ensuring that the most valuable work is done by the most valuable resources, based on cost, time and expertise. In any real estate business there are leadership responsibilities, performed by leaders; there are customer facing aspects of professional service delivery, performed by agents; and then there are a myriad of administrative, supporting tasks that are important but require neither expert local knowledge nor uniquely human traits for execution. All of these things can be delegated or outsourced.
Anything that is repetitive or requires a high level of information processing is usually a good place to start and for the last decade, much of the heavy lifting has been done by VAs or virtual assistants in countries such as The Philippines. These valuable human resources are actually capable of much more than many people realise because, as human beings, they can deal with chaotic situations, make decisions and they can apply empathy, understanding and nurture to work.
A practical example of how that works would be RiTA’s pinpoint prospecting capabilities. Using data from multiple sources including your CRM and the marketplace, RiTA is able to identify and assign the most important opportunities for agents to call while at the same time, she can create a list of escalated data improvement opportunities that a VA could work on at the same time.
What many people are finding is that by augmenting their human resourcing with Ai and Automation like RiTA, all of the workers in their value chain receive a productivity lift and can focus their attention on the most important work for them each day. Ai can automate routine tasks and then escalate important leads or more complex work to humans, so they are focussing on quality rather than quantity.
With the processing power of Ai and data science, there is much more scope for data and machines (machine learning) to process work and identify these critical opportunities so that those important relationships that live in your data are not neglected or under-utilised.
To learn more about how new technology can help increase the value chain in your business or to book in a demonstration of RiTA by AiRE with one of her human team members, you can say Hello by clicking here: say HELLO!