It is sometime in the not so distant future.  You see an open house sign and balloons, and decide to stop.  Instead of a living breathing real estate agent, a sleek white ROBOT greets you at the door: “Hello, welcome to 123 Main Street.  Can I show you around?”    A ROBOT?  Where’s the Realtor?  But you want to see the house – so you answer.  “Ummm, sure…” you say.  “This way,” says the robot, wheelie legs turning to lead you into the house.  “And by the way, my name is Roberta.  Robot plus “r-a” …. Clever, huh?”

As your first encounter with Roberta, the robot real estate agent shows, artificial intelligence (“AI”)  has entered the real estate market, and we are likely to see more and more manifestations of it in the future.

In our open house scenario, you are confused but dazzled by the technology.  The novelty of it definitely has your attention, and as you proceed through the open house Roberta seems to know everything about the house and answers your questions impressively.  But will novelty and technology sell you the house?  Can you get the information you need from a robot?

It seems inevitable now that there are robot trade show hosts and even police officer that one day robot real estate agents may be commonplace – programmed to answer all your questions and to point out the key features of the house, taking out the “human” element in part if not altogether.

While robots are not yet ubiquitous, there are many changes to our traditional real estate model brought about by technology that ARE already widespread.  We already regularly show property via Facetime to out of town clients.  And our now commonplace property videos often include 360 degree viewing capability with drone footage, allowing a client to truly explore a property virtually from the comfort of anywhere – and to view the video as many times as they wish (and to show it to as many people as they wish).  And while not widespread yet, the popularity of virtual reality video games and glasses will make it possible for any buyer to walk through a house by donning those glasses, no matter where the client may be at the time.

In addition, the days of having to sign real estate paperwork in person are actually long past.  Electronic signatures are now the norm.  Blockchain – online transaction processing – is becoming more and more popular also around the globe – in Dubai, it’s the norm for real estate transactions.

There are other examples of AI intrusion into real estate.  Real estate agents are now able to monitor properties at all times – not just via cameras, but also via connectivity systems that allow the agent to turn on lights, adjust temperature, monitor usage, and yes, even watch and listen to buyers who are visiting the property.  Agents in the past might spend an hour in a large property turning on all the lights and adjusting the thermostats prior to a showing – now it can all be done remotely, which saves the agent time and ensures that the property is always in optimal condition for showings.

There will always be a place for the flesh and blood Realtor, but only those Realtors who have the expertise necessary to expertly guide and advise clients.  The days of the realtor who is merely a door opener is long over.   So welcome Roberta – but be sure your “real” Realtor is in the know and guiding your purchase.  There is not yet any substitute for human judgment and advice.