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Software is transforming the real estate experience: A discussion with Bhargav Reddy Piduru
The convergence of AI and ML technology with real estate holds a remarkable potential to emerge as a powerful narrative
The value of the real estate market is projected to reach $613.60 tn in 2023. Being an enormous industry, the stakes riding on interactions and customer experiences in the domain of real estate are particularly high simply due to the nature of the trade.
The exponential growth of content and the globalisation of markets are presenting a monumental challenge for industries, very much including the real estate sector. This challenge revolves around delivering personalised and customised experiences, to those hunting for property, that resonate with the distinctive preferences of each individual on a global scale.
Specialist in real estate technology, previously associated with Real Estate brand Berkshire Hathaway HomeServices, Bhargav Reddy Piduru undertook a mission to redefine the manner in which clients navigate the space of property transactions, harnessing the power of Adobe's artificial intelligence (AI) and machine learning (ML) to usher in a new era of personalisation and recommendation in the real estate domain.
We got together with Reddy to discuss customer experiences and the need of personalisation and catering to unique individual requirements in the real estate market, with an aim of possibly propagating awareness about the developments in an ever-evolving market that is real estate.
Reddy considered the cumulative capabilities of AI and ML to craft an experience that would seamlessly traverse the aforementioned factors. The result was an innovative process that led clients through an array of property options, presenting choices that resonated deeply with their desires on an individual note. This feat was primarily achieved through the remarkable capabilities of Adobe Sensi AI, a technological marvel that analysed patterns, preferences, and market trends and within seconds, it synthesised a curated collection of property options, each meticulously aligned with the distinct criteria of the clients.
While being in the real estate industry, one’s commitment to transformation has to extend beyond the sphere of mere property recommendations. Since it’s anticipated that the clients possess more knowledge than one can presume, they usually don’t just merely seek a structure but they rather invest in a lifestyle. Catering to this aspect of the business, it is imperative to empower them with a profound understanding of their potential surroundings.
Reddy emphasised upon the importance of recommendations based on lived experiences. “By infusing personalised journeys with insights into local schools, shopping centers, cultural events, and more, I elevated the property search from a transactional process to a delightful adventure of discovery,” he stated. “The blog section within RealEstate (commercial blog) was transformed into a bastion of knowledge, with insights designed to empower potential buyers and investors, venturing beyond the confines of property listings,” he added.
Such curated content serves as a dynamic testament to the dedication towards enriching the journey of the clientele. It transforms a mere blog into a platform of expert insights, a space where prospective buyers find their questions answered and their decision-making wisdom enhanced. In these digital corridors of interaction, the potential of connectivity is unfurled and capitalised upon.
He further highlighted the transformative ability that instruments such as a web portal have as it is here that prospective buyers and investors engage with agents, engaging in conversations that deepens their understanding and solidifies their confidence in the offerings while also creating a personal connect with the company.
“As I navigated the intricate path towards securing my dream abode, the RealEstate blog emerged as my guiding light. Its comprehensive guide, powered by the remarkable capabilities of AI and ML, provided me with essential tips and astute advisories.” he stated. “Multimedia experiences, including virtual neighbourhood tours and interviews with realtors, bolsters confidence and ignites passion for a truly enriching Real Estate investment journey for all stakeholders involved”.
Conclusively, the convergence of AI and ML technology with real estate holds a remarkable potential to emerge as a powerful narrative. Through a process that emphasises personalised experiences and expert recommendations, the property search journey undergoes a remarkable transformation. Further venturing into the branches of the industry and catering it to the clientele solidifies the bond of trust between the brand and its clients. As we move forward into an era brimming with digital possibilities, the real estate industry stands at the precipice of a journey that is as distinct and personal as the aspirations of those it serves.
— Shagun Sharma is a business journalist.
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