Prospecting has just become a whole lot easier, with new AI technology set to revolutionise the way agents generate leads.
DUO, the new AI prospecting tool from Propic, takes prospecting to new heights, with the technology predicting which vendors are poised to sell their homes, as well as nurturing and managing the leads until the prospects are ready to speak with an agent.
Vendors communicate directly with the AI, which is incorporated into a CRM and are ultimately prompted to get in touch with an agent when they are ready to move forward.
Propic Executive Director David Choi said DUO is the next generation of prospecting.
“When you think about generating leads and prospecting, traditional methods make it hard to know who to call, when and why,” Mr Choi said.
“Even with lists, the ability to do this on scale, consistently and at the right time is a real challenge.”
Mr Choi said that while there have been tools in the past that have helped with prospecting predictions, actually making the calls at the right time is the hardest thing, which DUO is now able to manage seamlessly.
DUO benefits from utilising the agent’s CRM contact data combined with Propic’s ML (machine learning) prediction engine, which scores based on propensity logic and focuses on maintaining relationships with homeowners through SMS and email.
The AI technology is able to offer vendors valuable information about recent property sales and market trends, all while communicating in the same professional style as a real estate agent.
Mr Choi said DUO had already been rolled out to selected agencies and the results have been exceptional.
“In the product’s pilot, the technology was able to communicate, nurture and generate warm leads, which eventuated to listings – and sales,” he said.
“Additionally, DUO has generated leads for property management and uncovered finance opportunities via its conversational AI capabilities.”
Mr Choi said many agents had a hard time believing that the AI was so effective at bringing in warm leads.
“I think the biggest thing is scepticism at the first instance,” he said.
“Then when they see it work, there’s delight and absolute embracement of the technology.”
According to Mr Choi, DUO isn’t here to compete with agents or replace them, it is simply a tool to dramatically improve what they are already doing.
“By no means is it a silver bullet, this technology is an enhancement,” he said.
Mr Choi said 79 per cent of conversations via the AI platform with vendors happen outside office hours, with some of the conversations lasting longer than 11 minutes, so there’s the potential to miss a huge number of opportunities if technology such as this is not embraced.
“The technology never sleeps, it never needs a break, it works on public holidays or even when you’re at the beach with the kids,” he said.
Mr Choi said the technology was also smart enough to interact with vendors and allow them to choose which agent in an organisation they wanted to work with.
“If you’ve got five people that the vendor had a relationship with in an office, it goes out and it will actually present those five agents, and it will let the customer decide,” he said.
According to Mr Choi, technology like DUO aims to help agents better manage the huge amounts of data they have available to them.
He said agents are still incredibly capable, it’s just that the mass and scale required to be successful in today’s market have moved beyond the capabilities of what a single person can do.
“It’s evolved so quickly the industry hasn’t caught up,” Mr Choi said.
“I think the big thing with this is, that it is by no means a replacement of an agent’s tasks, but rather, it’s just a different way of approaching it.
“It’s not that you don’t have to prospect, you’re still going to have to pick up the phone, we’re just going to make it so when you do, it’s a really warm one and they’re excited to hear from you.”
To book a demo and see what DUO can do click here.