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Estate agent AI chatpot developed

A chatbot has been developed by SMS Speedway which claims to use open-source artificial intelligence (AI) similar to those used in ChatGPT.

The firm said its AI is able to handle queries and provide buyers and sellers with timely and accurate information. This includes automating routine tasks like scheduling viewings and negotiator appointments, chasing up paperwork with solicitors and even conducting virtual property tours.

Bradley Kieser, chief executive of SMS Speedway, said: “These are challenging times for estate agents. Market conditions are difficult and they need to make the most of the people they employ.

“We can help them do that. AI can save agents a huge amount of time and enhance their interactions with buyers and vendors.”

The firm, which is based in Carlisle, Cumbia, added that the AI can analyse data and feedback following viewings to identify market trends, customer preferences and pricing patterns, making recommendations and providing agents with valuable insights.

It can also handle residential lettings, screen potential tenants and arrange viewings.

Kieser added: “People looking to buy have jobs and other commitments. Often, the best time for them to contact you is when you’re not in the office.

“But you can’t afford to let potential buyers walk out of the door. You need to engage with them and that’s where AI really helps.”

The company admitted some estate agents may be cautious about adopting AI, so it advocates a soft launch, working with an agent to create a bespoke product that is thoroughly tested before being rolled out one office at a time or one feature at a time.