Chesin highlighted the two recently launched AI integrations everywhere. One is with Amazon Products called Amazon Qthis is an AI agent that is integrated with call centers everywhere. AI listens to every conversation live and provides language about how to answer customer questions.
“You can sort thousands of pages of documents and get answers,” Chae Singh said. “The outcome is merely a better experience for customers having this conversation with real people, and phone employees have an easy time to come to the answers they need to help.”
I use AI tools everywhere Google This will help you create a 5-minute education podcast for agents using the company's vast library of educational content.
“Agents love things on the go,” Chae Singh said. “These are well produced and take a few minutes. They don't require post-production or soundstages, and they are based on real content generated by the team over the years.”
“Innovative and Entrepreneurial” Agent
While these initiatives are examples of top-down AI integration, Chesin said the company also takes a bottom-up approach to how to better leverage AI.
“In our business, we have the privilege of serving 300,000 real estate agents around the world. Every person experiments with AI, both personally and professionally. Agents are some of the most innovative and entrepreneurs you will meet.
One of the brands everywhere Coldwell bunker, Currently, we are running contests among agents to deliver the most innovative AI applications.
“We have the opportunity to shed some light on some truly innovative uses at this large gathering,” Chesin said. “Then, if the opportunity arises, we can commercialize it for the next agent to use. Such bottom-up innovation is a big focus for us when there is a scale to allow us to spread it.”
By adopting this bottom-up approach and meeting agents using AI tools, Chae Singh said adoption is not an issue anywhere. A recent example of this is the company's recently announced partnership Canva.
“The magic is that a lot of agents are already using it,” Chae Singh said. “It was a channel that already existed, so creating an enterprise arrangement with them helps reduce the cost of agents, but it also helps you find a way to use agents who are already involved in it and direct them to a very good and useful real estate use case for that product.”
Chesin said they have adopted a similar approach everywhere, similar to some of their own AI applications, working to integrate the tools with products already used by their company agents.
“A great example is listing concierges,” said Chesin. “It's already been adopted by our products. More than half of our list of brokerage companies utilizes the product, so we've started injecting AI to automate list descriptions, sorting, highlighting and tags.
“But we didn't have to ask our agents to adopt these AI tools, they went where they went every day.
Agent Performance Predictor
Chesin also highlighted the forecasting tools the company built in 2018. This can be used to predict how agents will function in the future, allowing their brokers and franchisees to focus their recruitment efforts better everywhere. By integrating the tool into the broker's existing CRM system, Chesin said that not only was the adoption strong, but the company saw “large results.” Now they're incorporating AI into that tool.
While these AI applications are certainly some of the most eye-catching, Chae Sing said that there is “the most specific business impact” everywhere in the “nearest sexiest” part of the business. As an example, he emphasized that the company uses AI to ingest and process documents.
“We've already reduced manual monitoring of document reviews by 50%, and we'll be 90% by the end of the year,” Chae Singh said.
The company also uses AI to better integrate a variety of business units anywhere, anywhere, including titles.
“We now know that something is coming to AI in one way to trigger an activity on another side,” Chae Singh said. “AI automatically opens the title case because it contains information through the brokerage business because it helps connect dots between our two large companies and helps generate seamless and fast output for our business.”
Just as other parts of the housing industry look to the future everywhere, Chae Sin said AI is not the future, it is the present.
“For every company waiting to see how it evolves, we all risk falling behind,” he said. “That's the game. You can move on to the future rather than necessarily having one, in order to get a sense of all the ways you can use the tools to change how you operate them right now.”
