AI Adoption Lags in Real Estate Despite Industry Push: Report

Despite a strong industry push, many real estate agents aren't using AI tools, but those who do find them beneficial. A Kaplan survey highlights how agents are leveraging tech in a challenging market.

AI Use Cases Among Agents

More than half of real estate agents are using AI for tasks like social media and email marketing. A recent Kaplan survey showed that 54% of agents surveyed use AI in their work. They utilize it for content creation, scheduling, and administrative tasks.

This aligns with other surveys, like one from Real Brokerage. It found that nearly 58% of their agents use AI daily. Just 17% of those surveyed don't plan to use AI in coming years. However, concerns about the economy persist alongside tech adoption.

Economic Concerns Shape the Market

Economic worries also weigh on the housing market. Over 30% of agents are concerned about a potential recession impacting their jobs. But over 40% expressed little to no concern. Around 27% were unsure about the recession's impact on competition among agents.

Differing Views on Recession Impact

These views contrast with investors, who seem more worried about a recession's effects on real estate. A recent report indicated that 57% of investors believe the U.S. will likely enter a recession before year-end. This contrasts with only 30% of investors who disagreed.

Income Expectations Remain Steady

Despite changes and economic uncertainty, most agents don't expect major income shifts. About 52% believe recent commission changes won't significantly impact their income. Around 26% think there will be negative impacts, while 22% anticipate income increases.

Confidence in the Housing Market

Even with ongoing volatility, nearly 80% of agents would advise clients to buy in the current market. Approximately 75% would recommend selling as well. Only a small fraction would advise against buying (6%) or selling (7%).