Magicbricks introduces AI-powered tool project market scanner to help builders, brokers in sales

Real estate portal Magicbricks has introduced a new artificial intelligence (AI) based marketing solution project market scanner that will enable developers and brokers sell properties faster.

In a statement, Magicbricks said it has launched AI-powered marketing solution tool 'Project Market Scanner (PMS)' for developers and real estate agents. The tool matches buyers with the right properties in real-time.

The PMS tool will help developers access relevant and high intent homebuyers by using sophisticated algorithms and data analytics to personalise and automate search results, increasing reach by up to 65 per cent.

The tool acts as a reach maximiser, predicting results based on customers and previous search history, so that each project reaches its maximum response generation capacity.

It also takes into account buyers' preferences for specific property attributes and optimises images that they are most likely to respond to.

"This can lead up to 82 per cent increase in lead-to-impression ratio and helps close the gap between what buyers expect and the projects activated on the portal offer, creating a win-win situation for both," the company said in a statement.

Magicbricks.com is owned by Magicbricks Realty Services, which is a subsidiary of Times Internet, the digital arm of The Times of India Group.