As Northern Ireland’s leading property portal, Propertynews has consistently strived to be at the forefront of digital innovation. In a rapidly evolving digital landscape, maintaining market leadership means continuously adapting to the changing expectations of both property seekers and estate agents. Propertynews embarked on a transformative journey with GCD, leveraging cutting-edge AI to take their digital offering to the next level.
The Challenge
Propertynews faced a number of challenges in delivering a seamless and efficient property search experience. These challenges stemmed from outdated manual processes and limited digital capabilities, impacting both internal operations and user satisfaction.
- Manual Data Entry: The previous system relied heavily on manual review and input of property details by staff. This process was not only time-consuming but also prone to errors, with approximately 30% of listings requiring manual adjustments. This bottleneck delayed the availability of accurate property information online.
- Limited Search Capabilities: Property seekers were constrained by basic search options, making it difficult to pinpoint properties that precisely matched their specific criteria. The absence of advanced search functionalities resulted in prolonged and less precise search processes, leading to user frustration.
- Customer Enquiry Delays: House hunters often conducted their searches outside traditional office hours. The reliance on conventional contact methods meant that customer enquiries received during evenings or weekends faced significant delays in response, hindering immediate information and assistance.
These issues collectively demanded considerable staff time, limited user autonomy in finding suitable properties and restricted the availability of timely customer support.
The Solution
In a strategic partnership with GCD Technologies, Propertynews embraced the power of Artificial Intelligence to address these critical challenges head-on. The collaboration focused on integrating AI-driven solutions across key areas of the property portal.
- AI Data Indexing with GPT-4: Propertynews became the first property portal to leverage ChatGPT-4 for automated reading and categorisation of property features. This groundbreaking implementation eliminated manual data entry, significantly improved the accuracy of listings and allowed for the indexing of additional, previously uncaptured features.
- Advanced Search Functionality: Recognising the market need for more detailed search filters (identified through market research), we developed an advanced search feature. This innovative function allows users to search for over 30 unique attributes, including utility rooms, garages and garden rooms. Powered by ChatGPT-4, users can now quickly and accurately find properties that precisely match their specific desires.
- Liv AI Chatbot for 24/7 Support: To address the challenge of out-of-hours enquiries and enhance user experience, we developed Liv AI, a custom-built AI-powered chatbot. Liv AI offers instant, 24/7 support, answering user questions by integrating data from various sources like Google Maps and TravelTime. It can provide details on property information such as, heating types, nearby schools, broadband speeds and even assist with booking viewings, streamlining the communication process for both house hunters and estate agents.
These AI innovations have transformed Propertynews into a market leader, providing a faster, more accurate and highly engaging property search experience.
The Results
The integration of AI technologies has had a profoundly positive impact on Propertynews’s business, measured through significant improvements in key metrics.
- Increased Property Enquiries: The introduction of Liv AI proved to be a game-changer, leading to a remarkable 179% year-on-year increase in property enquiries (April-May 2024 vs. April-May 2023). This far surpassed the previous annual growth rate of 7.35%, directly enhancing the return on investment for estate agents.
- Increased Visits: Since the launch of Liv AI and the advanced search features, user visits to the Propertynews portal have surged by 62.52% year-on-year, indicating significantly higher user engagement and platform stickiness.
- Increased Revenue: The substantial growth in users and enquiries directly translated into business expansion, attracting 43 new paying Estate Agents. This influx of new clients added an impressive £21,000 in annual revenue, showcasing the commercial viability of the AI investment.
- Time Efficiency: The automation of data indexing saved approximately three full days per month for staff. This significant time saving has enabled the Propertynews team to reallocate resources to higher-value tasks, improving operational efficiency and productivity.
- User Satisfaction: The positive impact of Liv AI and the advanced search features extends beyond measurable metrics, with overwhelmingly positive feedback received from both users and Estate Agents, solidifying Propertynews’s reputation as a user-centric and innovative platform.
In collaboration with GCD, Propertynews, has successfully leveraged advanced AI to deliver an unmatched property search experience in the UK and Ireland market, cementing its position as a true innovator and market leader.
