Anarock coupled with G-Square Solutions aims to propel real estate housing sales. For this, they took the help of artificial intelligence. Artificial Intelligence and real estate markets do not usually go together.
But "ASTRA", an AI algorithm has made it possible.
According to a study, the real estate sector in India is estimated to reach around USD 650 million by 2025.
And “Astra” is going to make it easier.
The real estate market in India still relies on traditional methods. These are proving to slow down the market as a whole. There is a lack of research and interest.
In recent years, people have been using the internet to search for their houses and real estate. It has made several companies go online and find their customers.
However, a huge portion of the market still relies on word of mouth, offline ads, and more to find prospects.
"Astra" is a one-of-a-kind AI algorithm that is going to change the complete scenario of housing sales in India.
Anarock started developing the artificial intelligence model "Astra" in 2019.
The model will accelerate housing sales by studying the customer behaviour data. Customer behaviour data will help it find potential leads.
Companies will be able to narrow down to the right prospects which will save them capital and time. It will boost the market efficiency and provide an engaging customer experience to the prospects.
Anarock chairman Anuj Puri said, “we started configuring various models in different kinds of real estate projects in India. In the final development stage, the AI algorithm “Astra” is designed to provide a 20 fold return on investment.”
The AI model uses a predictive analysis system to find out all about customer behavior. It is fed with the information that will help it to identify potential prospects and check their behavior.
You won't get random prospects but high-quality leads.
This will cut down the time and effort of the sales team and they will be able to make more focused work. When they will understand and learn which prospects to focus on, they will be able to generate better results.
When the AI-selected customer inquiries will come up, the sales team can help the customer find the best deals. So, this revolutionary AI model is not going to replace any sales team. But it will help the team to do better work.
Astra uses Anarock’s 2.8 million data of leads and 74 different information models across various cities in India. It is going to be one of the most efficient prop-tech or property technology the country has ever seen.
The pandemic period has made it possible for people to accept and adopt digital tools. So, there is great hype around this model.
G-square Solutions, the developer of this model, provides expert tech support and various tools which enhance the model.
The developers will have complete control over the "leads" information. It will not simply use the contact details of the leads to analyze. However, It will understand the micro-market dynamic, past sales trends, local prices, and other important local policies to provide a concrete customer prediction.
The developing team expects the algorithm to increase customers or leads for the various real estate companies. For now, Anarock will use the primary version of the algorithm to make their sales drive.
However, there is a call for developers to invest in the advanced versions of the AI model.
Anarock's team has provided three main functions of this real estate marketing AI algorithm. They are:
Lead Quality Scoring
The AI model can analyze the lead data and score them individually. This will help the sales team understand which prospects have a higher score and focus more on them.
The real estate sales team will have better control over the lead data and they don’t have to always use their predictions.
The AI predictions will be much more accurate as they work on research and analyzed data. Using the large datasets, the model will analyze the behavior of the prospects. It will then match with the data and provide a score.
The higher the score, the more chances of the lead buying a house. So, your sales team will only have interactions with the right customers.
They don't have to waste their time on people who are only researching but do not have a wish to move forward with a purchase.
Integrated SAAS CRM
When the sales team of the real estate companies have access to the accurate data of the prospects, they can improve the customer relationship. Before they approach the customer, they will have all the important data vital for friendly and proper interaction with the customers.
When there is an improved customer relationship with the company, it will help in high ratings and reviews for the company. If your sales team can impress the prospects they may even help you find more leads.
When the real estate companies will be able to narrow down their probable customers, it will help in a revenue increase in the long run. According to Anarock's blog, “Astra” will help in 12-15% faster sales.
So, the real estate companies will be able to make more profit and even score high-quality leads.
With the country's faster development in the past years, there has been a drastic increase in the real estate business in India. However, the companies have been lagging due to the use of traditional marketing methods.
However, "Astra" is a game-changer in the industry. If you are into real estate marketing, you may take the help of this tool to identify high-quality leads for your company. You may invest in the advanced version of this model to get bigger results.
So, try the primary version of Anarock's Astra to boost your house sales and see the difference it makes.