AI and its role and impact

AI is providing increased opportunity for brokers to be more pro-active in reaching potential sellers and buyers sooner in the cycle an example would be Coicio. Will relationship marketing be as important for brokers?  Do brokers need to develop more creative methods of marketing themselves and their services?

Topic – Real Estate and Prop Tech

Mentor – Brad Inman

  • Integrity, reliability, insight, intelligence and information
  • Beauty is skin deep
  • Invaluable market information

Transcript:

Kevin:   Our final episode with Brad Inman this morning as we talk about AI. I wanted to talk to you very quickly about AI. You mentioned it earlier in our talk, artificial intelligence, providing a great opportunity for brokers to be more proactive in reaching potential sellers and buyers. As an example, I quoted earlier Coicio or Propify as it used to be known and how you compared that to Zillow in one of your articles just recently. Do you think relationship marketing is going to be as important for brokers? Do brokers need to develop a more creative method of marketing themselves in their services with things like Coicio?

Brad:   Well, I think it’s gonna be one of two things. It’s gonna be fast and furious speed in transactional and, in some cases, pride. The other is gonna be integrity, reliability, insight, intelligence and information. Market information, invaluable market information. I like to tell the story of I picked a realtor once to help me find a house. Her only qualification was she was married to a plastic surgeon. She had perfect teeth, and she had perfect blonde hair, and a perfectly beautiful white car, but she was incompetent. And I dumped her and I found another real estate agent who should have had the postal zip code tattooed on his forehead 92262, because he knew about every house, every block, everything in the neighbourhood where I was buying. His insight and intelligence about the market, where the market was going, what the house was worth, what work needed to be done, what it’s long term value would be is what made him a perfect realtor. That guy survives the transactional world. The woman who’s married to a plastic surgeon has a little bit of a network among plastic surgeons. I don’t think she’d survive.

Kevin:   Beauty is only skin deep.

Brad:   Yeah, I always joke about … People say, “What’s the plastic surgery have to do with it?” I said, “That’s exactly my point.”

Kevin:   Brad, thank you so much for your very valuable time. I’m looking so forward to catching up with you at New York at Inman Connect.

Brad:   Okay, my friend.

Kevin:   Of course, that’ll be next week we’ll be in New York. During the week, as you would know by now, we’re going to bring you a number of the speakers who will be on stage. Stick around for that. And we’ll see you next week.

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