AI Real Estate Agents Are Here: Can They Replace Humans?
February 13th 2025
Source: The Straits Times
A New Era for Property Buying in Singapore
Singapore has just introduced a game-changing AI agent, Maia (Mogul’s Artificial Intelligence Agent), which is set to disrupt the real estate industry. Developed by local property portal Mogul.sg, Maia automates property searches, schedules viewings, and even contacts seller agents through WhatsApp, all while charging just 0.2% in commission, significantly lower than the industry standard of 1%.
This AI-driven approach aims to eliminate inefficiencies in property transactions, reducing the need for traditional buyer’s agents. As AI continues to integrate into more industries, could this technology become the future of real estate worldwide?
How Maia Works
Maia scans more than 100,000 home listings from major property platforms like 99.co and PropertyGuru. Buyers can input their preferred location, price range, and desired amenities, and Maia will filter through listings, presenting curated options. Users can ‘like’ or ‘dislike’ listings, and once they find a property they’re interested in, Maia schedules viewings by directly messaging the seller’s agent via WhatsApp.
Unlike traditional agents, Maia doesn’t charge buyers hefty commissions. Instead, Mogul.sg collects a small 0.2% referral fee, which is significantly lower than the current industry standard where commissions often reach 2% - a cost that sellers and buyers alike often find excessive.
A Sign of the Future?
The rise of AI agents like Maia signals a shift that could become increasingly common across industries. Real estate is just one example of an industry ripe for disruption, where AI can reduce costs and increase efficiency.
This trend mirrors the transformation seen in other fields, such as travel agencies, which once relied heavily on human agents but are now dominated by online booking platforms and AI-driven chatbots. AI in real estate could soon follow the same trajectory.
If AI continues to replace administrative roles, traditional agents will need to rethink their value proposition. Some experts believe that real estate agents will remain relevant due to their negotiation skills, local knowledge, and personal touch, areas where AI is still limited. However, others argue that AI’s capabilities will continue to expand, eventually making human agents redundant in all but the most complex transactions.
The Debate: Can AI Fully Replace Property Agents?
While AI agents like Maia offer convenience and affordability, they do have limitations. Experts in the real estate industry argue that human agents still provide crucial services that AI cannot replicate, such as:
Negotiation Skills – AI may be great at scheduling viewings, but it cannot negotiate the best price or terms for a buyer. The human element in securing a deal is still critical.
Local Market Knowledge – Agents often provide insights into market trends, property value fluctuations, and neighborhood dynamics, something an AI agent cannot fully grasp.
Emotional Intelligence – Buying a home is a deeply personal decision, and many buyers value the guidance and reassurance of an experienced agent.
On the other hand, proponents of AI in real estate argue that technology will only continue to improve, and soon, AI may be able to analyze market trends, predict pricing fluctuations, and even assist in contract negotiations with minimal human input.
What This Means for the Future of Real Estate
Singapore’s experiment with AI-powered property agents could serve as a blueprint for other countries. If Maia proves successful, similar AI-driven real estate tools may soon emerge in markets worldwide.
As AI continues to reshape traditional industries, professionals must adapt. Real estate agents may need to focus on providing high-value, specialized services that AI cannot replicate, at least not yet.
In the long run, the real estate industry will likely see a hybrid model, where AI handles the more mundane aspects of buying and selling properties, while human agents step in for high-stakes negotiations and personalized guidance.
For now, Maia represents the beginning of a transformation that could redefine the way we buy and sell homes, not just in Singapore, but across the globe.
Read the original article at: The Straits Times
