Artificial intelligence is no longer a future concept for the property industry. It is already here, and it is moving fast.
New AI powered platforms such as Jitty and The Property DriveBuy are emerging as challengers, and even the largest portals are investing heavily in the technology. Rightmove, which reported revenues of £425.1m last year, a 9% increase year on year, is rolling out its own AI tools and shows no signs of slowing down.
Yet chief executive Johan Svanstrom was remarkably clear last week when asked whether AI could replace the role of established portals and property professionals. He called the idea “unthinkable,” arguing that AI companies are “really just out for traffic at the very top of the funnel.” In other words, they help people begin a search. They do not help people complete one.
We think that distinction matters enormously.
Buying or selling a home is not a data driven process. It is one of the most significant decisions of your life, shaped by emotion, timing, negotiation and trust. AI can help a buyer find a shortlist. It cannot tell you why one end of a street consistently outperforms the other. It cannot read a negotiation and know exactly when to hold firm. It cannot keep a chain together when things get complicated on a Friday evening.
That is the work we do every day at Drivers & Norris. Built on decades of experience across North London, our value has never come from simply listing properties. It comes from the expertise, the honest advice and the personal service we bring to every single instruction.
Technology is changing how people search for property. What it cannot change is what makes a great estate agent.
At Drivers & Norris, that is exactly what we will always be.
— Drivers & Norris
Source: Estate Agent Today