Property technology company Alto has released a suite of artificial intelligence features designed to automate routine tasks for estate and letting agents, following an 18-month development period.
The software provider has introduced six AI-powered functions, which it terms ‘skills’, to handle processes including property appraisals, listing creation, and sales progression tracking. The company states that agents will retain final approval before any automated communications are sent to clients.
Features and functionality
The new tools include an appraisal builder that generates reports and ranks comparable properties, a property matcher that sends automated emails when listings launch or prices change, and a listing writer. Additional features comprise a progression chaser, Alto IQ for business queries, and Alto Analytics, which drafts emails matching a branch’s communication style.
Alto chief executive Riccardo Iannucci-Dawson said the company engaged external consultants to test the features due to regulatory risks associated with errors in the property sector. The launch follows the company’s Alto Intelligence release earlier this year, which introduced five AI tools to support agency operations.
Early adoption
Sam Whitehead, operations director at lettings agency The Accommodation Bureau, who received early access to the platform, indicated that the property matching function would be an initial priority. He noted that the task typically requires 20 minutes per property when completed manually.
The development comes as the property sector continues to adopt technology solutions, with landlord costs rising 56% while rental income has grown 26%, placing pressure on agencies to improve operational efficiency. The broader property market has seen mortgage approvals fall to 56,100 in July, highlighting ongoing challenges in the sector.
Wider economic context
The launch coincides with warnings from Bank of England Governor Andrew Bailey regarding potential economic risks from artificial intelligence. Bailey suggested that a combination of elevated stock market valuations, increased investor borrowing, and concentration of capital in major technology companies could amplify future market corrections.
The introduction of AI automation tools reflects broader efforts within the property industry to reduce administrative workload and allow agents to focus on client acquisition and relationship management.
