The revolutionary effects of artificial intelligence (AI) and socially responsible marketing on the real estate market are examined in this chapter. Real estate is being redefined by changing consumer values as well as increased social and environmental consciousness. A flexible tool like artificial intelligence (AI) encourages innovation by providing data-driven insights, individualized marketing, and operational efficiencies. The concept simultaneously connects real estate transactions with significant societal and environmental contributions. The investigation starts with the key cause selection process, in which real estate professionals make choices that go beyond transactions and resonate as statements of intent with customers and communities. Forging relationships beyond typical buyer-seller interactions, creating emotionally compelling narratives becomes essential. AI boosts customer experiences, improves relationships, and synchronizes them with client values.
Top1. Introduction
The real estate sector, historically bound by physical assets and location-centric transactions, is undergoing a profound transformation at the intersection of artificial intelligence (AI) and socially responsible marketing (Jacobides et al., 2021). This shift is redefining the essence of real estate in the modern era and altering the dynamics of property transactions. Factors like square footage, price tags, and amenities, which once solely determined real estate purchases, are no longer the exclusive influencers (Rabby & Chimhundu, 2022). Today’s real estate buyers represent a new generation characterized by evolving cultural values and a heightened sense of social and environmental responsibility. They seek more than just a place to reside or invest; they aspire to find homes that embody their values, contribute to positive change, and connect them to a greater purpose. The Models of artificial intelligence (AI) have been effectively applied in a variety of industries and marketplaces. The real estate market, however, often takes longer than usual to adjust to these changes.
This chapter delves into the dynamic fusion of AI and Socially responsible marketing within the real estate sector, a digital strategy poised to revolutionize the industry (Bondi et al., 2021). It explores how the combination of AI-driven marketing strategies and socially responsible marketing can not only enhance marketing efforts but also pave the way for a more meaningful and socially responsible real estate market. To produce individualized suggestions for prospective buyers or tenants, machine learning algorithms may analyse enormous volumes of data, comprising realty listings, sales history, information about demographics, and consumer preferences. These tools save people time and effort by assisting them in finding homes that match their unique needs and preferences. The digital age, marked by rapid technological advancements, has made this transformation possible. AI serves as a linchpin, providing real estate professionals with data-driven insights that inform personalized marketing strategies and streamline operational processes (Mora-Esperanza, 2004). It transcends its traditional role as a mere tool and becomes a catalyst for innovation, fundamentally reshaping how real estate professionals connect with clients and promote properties.
Concurrently, Socially responsible marketing emerges as a significant influencer, shaping the narrative of the real estate industry (Ferrell & Hochstein, 2021). CRM goes beyond conventional business objectives, urging businesses to align their operations with social or environmental goals. It fosters partnerships between companies, their clientele, and causes that share similar values. In the real estate sector, CRM serves as the bridge connecting real estate transactions with outcomes that carry significant social and environmental impacts (Bhatti et al., 2023). These platforms enable real estate professionals to engage with their communities, driving positive change and fostering stronger bonds with clients.
This chapter provides a comprehensive guide for industry professionals looking to navigate this new digital era, explaining the intricacies of integrating AI and Socially responsible marketing into real estate (Umbrello & Van de Poel, 2021). It commences with the critical step of cause selection, moves on to the art of crafting compelling narratives, explores the power of personalized marketing, delves into innovations such as virtual property tours and energy efficiency, and discusses the role of chatbots and virtual assistants in enhancing customer engagement. Additionally, it emphasizes the importance of data security, ethical AI practices, and the necessity for continuous evaluation and adaptation in this dynamic landscape (Galan-Ladero & Galera-Casquet, 2019).