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The partnership between the boutique network and proptech provider allows the brand to harness the full potential of Artificial Intelligence (AI) and bolster its after-hours services.
According to various studies, over 70 per cent of real estate enquiries happen outside working hours. In an attempt to align its business with consumer activity, Stone Real Estate has partnered with Propic to utilise the latter’s AI technology to respond to sales and rental enquiries at any time of day.
Stone Real Estate’s brand manager, Zander Snape, said the network is “committed to providing the best possible experience for our clients,” adding that the collaboration will boost the brand’s capacity “to respond to inquiries in real time.”
He believes the move will unlock “a level of service that is unmatched in this industry.” As part of the partnership, Stone Real Estate will be able to access Propic’s conversational AI to facilitate 24/7 customer support, ensuring buyers and sellers receive responses regardless of time.
Built from advanced machine learning algorithms, Propic’s AI technology possesses the capability to answer complex questions while juggling multiple inquiries. Moreover, it has the capacity to learn from every interaction with a multilanguage add-in, allowing it to conduct communications in a range of languages.
Dave Choi, chief commercial officer at Propic, heralded his company’s technology as able to “provide insights that can be used to sharpen and improve Stone Real Estate’s customer service and growth strategy.”
He believes Stone’s deployment of the AI technology will invite the brand to develop a “deeper understanding of their customers’ needs and preferences, enabling them to provide a more personalised and premium experience.”
Not only will the AI solution “improve customer satisfaction,” Mr Choi explained it has the potential to “free up Stone Real Estate’s team to focus on more complex and value-added tasks while elevating their client to agent relations.”
Jamie Bennett, Stone’s network general manager, said the partnership will allow the network to “take advantage” of the rising rate of out-of-office enquiries.
“This partnership comes at a time when customer expectation is at its highest. Tools such as ChatGPT and Google’s Bard have set the benchmark,” he added.
Stone Real Estate’s Manly outfit have already embraced the partnership, with other offices expected to follow suit in the coming months.
“We are excited about this partnership and what it means for the future of real estate,” Mr Snape concluded.
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