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An industry veteran has warned real estate leaders against overrelying on artificial intelligence, insisting that while the technology can enhance brand trust, it will never replace the personal relationships that remain the true foundation of long-term success.
Belle Property and Hockingstuart CEO Nick Boyd has warned against overreliance on artificial intelligence, noting that while it has a role in real estate it cannot replace human relationships as a recipe for long-term success.
Real estate relies on relationships, trust, and personal connection, qualities that no algorithm can replicate, one network leader has recently said.
In a recent episode of the REB podcast, Nick Boyd urged caution in adopting AI, highlighting areas where it can improve agent outcomes and areas where a human must stay centre stage.
“Because it's pivoting so much, you've got to be really cautious around exactly where you see it playing out in your business,” Boyd said.
“If it's consumer to human and there's a relationship established, don't let AI get involved in terms of any form of that relationship piece.
“But if it's consumer to brand, I think there's a point where AI can really benefit… it becomes more derived around the speed of return.”
Boyd explained that AI is most effective in situations where potential clients know the brand but not individual agents. It can ensure quick responses to inquiries and build trust in the brand without replacing human interaction.
“If someone’s inquiring into the brand of your company, and they don’t know a person in the company but they have trust with the brand, I think that’s where AI can really play a pivotal role - ensuring that the 11pm inquiry gets responded to at 11pm, whether that’s voice or what not… that’s the space I’m quite excited by.”
For Boyd, cultivating human relationships is key to enduring success in real estate. He credits this approach for helping him grow Belle Property from 81 offices as a 2IC to 206 offices as CEO.
“The one thing that stood out to me with real estate was it's more derived about relationships,” he said.
“The unique thing that makes real estate impenetrable is if you champion the relationship, you, you will, you will weather any storm.”
Boyd also advocates for “fewer, better people,” prioritising performance and culture over headcount to drive efficiency and success.
“The definition of fewer better people for us is about taking talent and performance really seriously,” Boyd said.
“I want a world for our network where people can come, give their all, do their best, make lots of money and have fun.
“But if we can do that at a heightened level of productivity where we don't require as many resources, then everyone wins and the consumer wins.”
Despite rapid technological change, Boyd says human judgment, mentorship, and personal relationships remain irreplaceable. AI, he adds, should complement rather than replace the agents who make real estate a people-driven industry.
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