Realty firms tap AI, big data to push sales

Mumbai: At the Puravankara Ltd booth at a property exhibition in Bengaluru last month, two humanoid robots recorded visitor data and their queries, partially replacing usual sales staff at the reception. For the real estate firm, which fielded these robots developed by technology firm Invento Markerspaces Pvt. Ltd, the experience was positive. "Instead of 10 young boys/girls manning the reception, this time we just had three," said Anand Narayanan, chief operating officer, Puravankara. For the Bengaluru-based real estate firm, those humanoids are part of a larger plan to completely'dehumanise" its sales process, build a strong data of potential homebuyers and sell homes completely online by 2020, Narayanan said. "What typically took 100 hours to get customer data for a sales guy, it has now dropped to about 7-8 hours," he added. Puravankara is one of the few developers which are adopting new-age technologies like artificial intelligence (AI), machine learning and big data to chase potential homebuyers. In a subdued property market, these technologies are being used to cut marketing spending, fast track sales and widen customer base. Developers like Hiranandani Communities, K Raheja Corp, Oberoi Realty Ltd and Runwal group have also partnered with technology firms and digital marketing agencies to map potential customers online through advanced data analytics and streamline their sale process. According to Vikram Kotnis, managing director, Amura Technologies Ltd, a digital marketing agency, real estate firms are now allocating 60-70% of their total marketing budget on digital campaigns as against 10-15% three-four years ago. The eight-year-old Pune-based firm currently works with around 130 property developers, up from 90 a year ago. "Today, we are doing a lot of push marketing.