The Toronto Regional Real Estate Board (TRREB) will be giving its members access to a virtual assistant powered by artificial intelligence (AI) which answers questions about the organization and the industry, joining a wave of organizations exploring the potential of the rapidly emerging technology.

The platform is named Ardi (an acronym for Artificial Reasoning and Decision Intelligence). TRREB will provide it to the board's approximately 68,000 members to handle a range of inquires, from simple questions about its rules, procedures and benefits to more complex queries seeking industry insights and other information.

The AI tool is made by Voiceflip Technologies Inc., an Ottawa-based company, and is expected to become increasingly more useful and relevant as its database and experience expands.

Planned to be accessible through text, voice, WhatsApp and Facebook Messenger, Ardi will be available around the clock and in 25 languages.

"By leveraging Ardi’s AI-driven capabilities, our team will have real-time access to critical information, improving response times and ensuring consistency in the support we offer,” John DiMichele, TRREB’s chief executive officer, said in the announcement.

“This is an important step toward modernizing how we engage with our members and provide them with the best possible experience.”

How Ardi works

Voiceflip, described as a team of real estate professionals, AI experts, data scientists and accessibility advocates, has the goal of making real estate data available to all.

Ardi collects data from users, helping “brokers understand client needs more effectively and tailor their services accordingly,” according to Voiceflip's website. Chat messages are analyzed to discover user preferences and behaviours, painting a profile that enables personalized engagement.

The information helps the AI platform recommend properties and personalized property listings.

To increase leads, a score-based system is designed to emphasize the inquiries with the most potential to convert into sales. Ardi offers an engagement rate of 10 to 15 per cent, compared to less than one per cent with traditional chatbots, Voiceflip says in its marketing. This translates into boosted engagement, more leads and higher conversion rates.

Addressing privacy concerns, Voiceflip says all user data is encrypted and in line with regulations and industry standards. Users are also able to manage their data and privacy settings.

TRREB will first launch Ardi internally to train its staff and build a knowledge base. Then it will release the AI-powered tool for its members in the summer.

"This initiative underscores TRREB’s commitment to embracing technology that enhances both internal operations and member engagement," Kevin Crigger, TRREB’s associate CEO, said in the announcement. "Ardi will allow our team to spend less time searching for answers and more time focusing on delivering value to our members."

Other real estate boards that use Voiceflip’s technology include the Greater Rochester Association of REALTORS in New York and the Naples Area Board of Realtors in Florida.

AI tools hit the real estate industry

The real estate industry has been an eager adopter of AI, noting its potential to improve efficiency, quickly address work-related questions, guide professionals in career development, forecast market trends, and more.

Jones Lang LaSalle Inc. built its own generative pre-trained transformer AI that can output answers to questions such as the current asking rent for a class-A building in a city or pet policies in an office building.

Toronto-based real estate technology company Wahi uses AI to help couples home hunt.

Mod Realty, based in Oakville, Ont., developed a voiced digital coach named Rudy that dispenses advice such as converting leads and career coaching with an upbeat, motivational tone.

“It will keep you on task and get you to your goals,” Mark Jensen, the CEO and founder of Mod Realty, told RENX Homes in a recent interview about the introduction of Rudy.