The social media influence of Jucica Brown, the new virtual real estate consultant launched by Dubai-headquartered Realiste on the short message platform Telegram, has also already garnered 100,000 followers on Instagram
Artificial intelligence (AI) is making gigantic strides in the real estate sector in the UAE, expanding the reach and speed of transactions to stratospheric levels, with Dubai-headquartered global real property consultancy Realiste launching what it claims to be the world’s first AI consultant on social media – Jucica Brown – on the popular short message site Telegram. Jucica Brown has already struck real estate transactions worth $30 million in just three weeks of its launch on the social media site.
Besides, Brown’s influence on social media is surging day by day, with her virtual persona captivating a broad audience, notching up 100,000 followers already on Instagram.
“Many of the users interact with her posts unaware of her digital nature,” Alex Galt, Founder of Realiste AI, told Arabian Business, adding that “AI is not just a tool; it’s a revolution in real estate transactions.”
“AI delivers expert advice and precision with unprecedented ease, democratizing access to high-quality real estate insights,” he said.
Galt said the company believes this technology will redefine how people buy and sell property. “AI has already closed 50 real estate transactions in Dubai totaling $30 million – from selling real estate units to the clients – showcasing the new age technology’s potential to revolutionize the real estate industry with efficiency and effectiveness,” he said.
New virtual consultant a multi-lingual AI tool
Realiste said its new virtual consultant on social media is designed based on dozens of language AI models and the database from the real estate data platform of the company. “This AI looks like a person’s account in Telegram, and it is changing statuses like “typing”, reacting to messages with emojis etc,” senior executives at the company told Arabian Business.
They also said its AI-driven approach allows potential buyers to receive detailed market information and project recommendations upfront. “When clients are ready to proceed with a purchase, ‘she’ seamlessly connects them with a lawyer to finalize the transaction,” they said.
Significantly, Jucica Brown’s credentials are as robust as her capabilities. She has passed all broker certification tests, qualifying her to navigate the intricate legal and procedural landscapes of real estate.
This achievement is significant in an industry where professional licensing is stringent and non-negotiable. “Unlike human agents who must balance client engagements with continuing education and regulatory requirements, Jucica’s updates and improvements are seamless, keeping her at the forefront of industry standards without interruption,” Galt said. Within this short span, Brown has consulted with over 1,000 clients about real estate and other questions, he said.
Extensive real estate database
The impressive performance of Realiste’s new social media consultant is due to her deep integration with the company’s extensive real estate database, which spans over 100 cities worldwide. The story of Jucica Brown’s creation is rooted in a desire to overcome the inefficiencies and unpredictabilities of traditional real estate transactions. Alex Galt, the visionary founder of Realiste AI, said he was facing numerous challenges with human brokers when he decided to develop an AI that could deliver consistent, high-quality service around the clock. “We encountered countless delays and cancellations due to issues beyond our control, typically related to the agents themselves. “We needed a solution that could provide reliable and expert service without these setbacks,” he recalled.
Widespread AI adoption in the Middle East
Significantly, the launch of Realiste’s new social media AI tool comes at a time when AI adoption in the real estate sector is becoming widespread – both in the UAE and globally.
A recent survey by Delta Media showed that as high as 75 percent of real estate brokerages in the US already leverage AI technologies, and nearly 80 percent of agents use AI tools in their daily operations. The Middle East region’s AI market is projected to reach $320 billion by 2030 led by the UAE and Saudi Arabia, according to a Brookings report, fuelled by sectors such as real estate.
Galt said AI is becoming crucial in sectors like real estate, where timely and accurate data are essential for decision-making. “AI for real estate doesn’t just match the expertise of traditional brokers; in many cases, it surpasses it. “It can quickly evaluate the profitability of potential investments, guiding users to identify the most lucrative opportunities,” the Realiste top executive said. He said utilizing predictive analytics, AI offers forecasts of real estate prices up to five years in advance, equipping investors with insights crucial for informed decision-making based on future market conditions.
In addition to forecasting, AI performs investment analyses by swiftly calculating potential profitability and comparing project ROIs, rental yields, and capital growth potentials across various properties. “This comprehensive approach ensures that users gain detailed, data-driven insights that surpass the capabilities of even the most seasoned brokers,” Galt said. He said as AI continues to advance and integrate into the real estate sector, brokers must adapt to this new reality. “Rather than viewing AI as a direct competitor, savvy brokers might see it as a tool that can enhance their service offerings, improve efficiency, and provide more value to their clients.”
