Is artificial intelligence the way forward for commercial property?

Is artificial intelligence the way forward for commercial property?

New devices and smarter software are set to become the commercial property game changers as Australia ushers in a new era of targeted technology.

As we outlined last month, web use in Australia is increasing astronomically, with each Australian, on average, now spending almost 69 hours a month online.1

And while the print industry continues to decline as more and more people use mobile phones and tablets as their primary means of accessing information, Foad Fadaghi, managing director of technology insights firm Telsyte, says that for the real estate industry, the new frontier is “artificial intelligence” – smart software that gives websites and smartphone apps the ability to predict which commercial properties might suit a potential buyer.

“When it comes to the real estate industry it certainly could make use of the data that either real estate buyers or sellers are generating and … provide proactive suggestions and recommendations — not just the ability to search a directory,’’ Fadaghi says.

BOOSTING YOUR AUDIENCE

While having users spending more time online is wonderful, for commercial property agents, grabbing your share of that increased viewership is the real challenge.

Australians spent an average of almost 69 hours surfing the internet in March 2017 this year.1 Each of those users spent about 18 minutes, on average, browsing for commercial properties on realcommercial.com.au.2

While 18 minutes on one site is a significant portion of someone’s monthly web use, it also highlights the need for sellers to display their properties prominently in more places, more often, in order to capture a larger audience of potential buyers for their property.

Our latest product, Audience Maximizer, does exactly that – using each buyer’s personal browsing preferences to target them with commercial property listings of interest, which are displayed prominently while they browse other sites.

Gone are the days of buyers needing to find your listings. With our new technology, your listings will find them.

CUT THROUGH THE NOISE

With the strength of commercial property seeing new players entering the sales space and established agents angling for larger pieces of the market, the commercial property scene can seem crowded, and winning listings is increasingly challenging.

That’s why we’ve also created Extended Reach, which gives brands and agents the ability to put themselves front and centre for potential clients.

With Extended Reach, we work with you to develop striking creative elements for use on both realcommercial.com.au and other external sites that promote your brand and give you the best possible opportunity to win listings.

1. Nielsen Digital Ratings Monthly, time per person, March 2017

2. Nielsen Digital Ratings Monthly, time per person on realcommercial.com.au, March 2017