LAS VEGAS — Bruce Hiatt is hoping the integration of artificial intelligence will help take his real estate company to the next level, and in turn, could require fewer in-person agents in the process.
Hiatt, a Las Vegas-based broker who is also the owner of Luxury Realty Group, is currently beta testing an AI conversational avatar that speaks with potential homebuyers and learns from those interactions. Hiatt said they are scheduled to launch the technology in 22 U.S. cities and three in Canada as part of the rollout at the start of June. The goal is to have about 24 agents in each city.
The idea behind using AI is to aid in the homebuying search via software that can learn potential homebuyers’ names along with preferences of what they are looking for in a home. Hiatt is partnering with India-based chatbox builder Kore.ai on the technology. The company received $150 million in a new funding round, including an investment from chipmaker Nvidia.
“Unlike ChatGPT, our AI website will have a fully conversational AI avatar. The avatar’s name is Luxora and she will engage conversationally with you as you ask questions about Las Vegas real estate,” Hiatt said. “She can also handle very complex, compound search requests you say to her. For example, ‘show me Summerlin homes in the Summerlin Ridges with four bedrooms, an office, 3.5 bathrooms, a four-car garage, a kitchen with a Wolf stove and ceiling height in the great room 25 feet or higher.’”
Hiatt acknowledged there is obvious pushback from employees regarding the integration of AI as many fear the technology could cost them their jobs.
“People assume all AI is like that,” he said. “And we may not be able to speak for how it will effect other industries, but as far as real estate agents go, the AI is more of an advisor, it will never be a licensed agent, there’s always that legal need for a licensed agent… there’s still a…
Read the full article here
