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Peer 2 Peer Real Estate’s Podcast
Show 229: How the future of real estate can be simplified through machine learning
May 25, 2022
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“We have a library of scripts that you can use out of the box, but you can also tweak them or write them entirely from scratch.” -Nate Joens
“Our AI system is pre-programmed to account for any number of things that a lead might ask at any time and provide certain responses that can be customized” -Nate Joens
“There’s a lot of bad history behind generative AI. It’s not fully understood or researched yet.” -Nate Joens
“AI is, put simply, something that a human used to do that a computer now does.” -Nate Joens
“We’re at a point where people believe artificial intelligence. They understand it. They trust it.” -Nate Joens
“Salespeople spend one-third of their time selling and two-thirds of the time not selling. They’re chasing leads, scheduling appointments, updating their CRM, and non-commission generating activities. Our goal at Structurely is to flip that.” -Nate Joens
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How the Future of Real Estate Can Be Simplified Through Machine Learning
Nate Joens is an Iowa-based innovator and entrepreneur specializing in artificial intelligence in the tech industry. In this episode, Nate shares fascinating insights he has gained while building an AI-centered company that automates conversations between salespeople and clients in the real estate, finance, and leasing industries.
Joens is interviewed by Willie Morales, a real estate expert whose podcast, Peer 2 Peer Real Estate, helps professionals involved in real estate, finance, and related industries stay abreast of significant developments that affect the industry.
Morales interviewed Joens in May 2022 to find out more about how AI technology is being used to make real estate investors, agents, and others in the industry more efficient in their work.
In this episode, you will learn:
- How artificial intelligence can be configured to interact with sales leads
- How the feedback loop between data and machine learning algorithms works to reduce the need for low-productivity activities
- Why generative AI (self-learning) is currently and for the foreseeable future not a viable solution for human interactions
Synopsis of Episode:
Willie Morales, a real estate entrepreneur and host of the Peer 2 Peer Real Estate Podcast, spent some time with Nate Joens, artificial intelligence expert and founder of an AI virtual assistant company called Structurely. They discussed the advances in AI that have made the automation of lead processing and sales conversations possible.
Joens discusses the process his company uses for gathering input data combined with machine learning to process sales leads and other activities where an algorithm can be substituted for a human.
This episode is especially interesting to real estate sales professionals and salespeople in other industries. Salespeople of all sorts can benefit from hearing this discussion of some of the technical aspects of AI and specific applications of what AI has been able to do for processing sales leads and interacting with customers.
Additional topics discussed in this episode include:
- What can go wrong with AI if it’s used incorrectly
- Explanations of how Zillow uses AI in the data they publish
- How building a comprehensive FAQ allows machine learning to take place so that legitimate AI responses can be generated
- How sales teams can use AI to spend more time on tasks that require human involvement
Resources and links:
- Peer2PeerRealeEtate.com – Willie Morales’ real estate podcast
- Structurely.com – Conversation automation software company founded by Nate Joens
- https://www.salesforce.com/blog/15-sales-statistics/ – Salesforce.com sales statistics survey