[Bigiron]

AI chatbot in Singapore could replace buyer agents in property deals

 https://www.straitstimes.com/tech/ai-cha...erty-deals

AI Chatbot in Singapore Could Replace Buyer Agents in Property Deals
 
Title: AI chatbot in Singapore could replace buyer agents in property deals
 
Source: The Straits Times, published on 2025-02-05
 
Author Information: Kua Chee Siong / ocmogul05
 
Article Summary:
 
Theme: This article reports on the launch of Maia, an AI property agent in Singapore, developed by Mogul.sg, and its potential to disrupt the traditional property market.
 
Core Points:
 
- Maia is an AI-powered property agent that helps buyers search listings and book appointments.
 
- It aggregates and curates property listings from major real estate portals, saving users time.
 
- Maia automates communication with seller agents through WhatsApp, eliminating the need for manual coordination.
 
- Mogul.sg charges a 0.2% commission fee, significantly lower than the typical 1% co-broking arrangement.
 
- Maia leverages Google Cloud's Vertex AI platform for its AI capabilities, enabling it to understand languages, including Singlish and broken English.
 
Phenomenon:
 
The article discusses the potential impact of Maia on the property agent market in Singapore. Some key points include:
 
- The traditional property agent market is "bloated" with a high number of agents compared to actual property sales.
 
- The entry of AI agents could force property agents to enhance their services and potentially redistribute manpower.
 
- Maia's lower commission rates might discourage seller agents from demanding higher commission fees.
 
- Property agents need to adapt and provide more value to stay competitive.
 
Additional Information:
 
- PropertyLimBrothers, a real estate firm, has collaborated with Mogul.sg to promote Maia among agents.
 
- The article suggests that Maia could revolutionize home buying, similar to how travel booking evolved from phone calls to travel agents and AI-powered aggregators.
 
Conclusion:
 
The introduction of Maia, an AI-powered property agent, signifies a potential shift in the property market. Its ability to streamline the home buying process, automate communication, and offer lower fees could reshape the traditional agent model. While agents might need to adapt and offer more value, this development represents a significant advancement in the real estate industry.

[p1acebo]

Huat Ahhhh!!!!!

[Niubee]

Ice cream soda

[p1acebo]

Agents eat grass

[Sline]

Why pay high comm. AI can do the work !

[WhatDoYouThink!]

For private properties, engaging buyer agents are free of charge and there are many advantages in doing so. Some even fetch you around to view several of them. Some even treat you with lunch or dinner

[WhatDoYouThink!]

Gd agents would aso give you very useful tips and advice on selection of units, help find the best banks and rates, just some examples

Otherwise you may get into troubles with bank loan, or get a shock when collecting keys for yr new unit.

[Sline]

For private properties, engaging buyer agents are free of charge and there are many advantages in doing so. Some even fetch you around to view several of them. Some even treat you with lunch or dinner

Private developers likewise can use AI & pay agents a smaller fees.

[sclim]

no property agent license. do property transaction. using AI then the platform or machine/sw owner will be liable under the law.

[p1acebo]

These new AI chatbot is not doing property transactions.

It is just filtering and showing potential buyers what properties and units are available. Similar to PropertyGuru or 99.co but way better with AI capability

[singaporean1964]

property agents will be out of job soon

[p1acebo]

property agents will be out of job soon

Sis talents how?  She just got her salesperson license 

[red3]

🤖 commission ... huat ka bueh lin chu ah

[red3]

On hindsight the 🤖 got take exam and licensed properly and pay license fee to govt?