TRIPLER, the world's leading PropTech company, is going to revolutionise the real estate landscape by introducing robots and Artificial Intelligence tools to develop more efficient automated system.
Sam Singh, Founder and Chief Executive Officer of Tripler, said the old business model of limited technology use is no longer relevant.
“Within the next six months, AI tools and robots are poised to revolutionise the real estate landscape. Agents who fail to integrate AI into their practices may find themselves replaced by more efficient automated systems,” Singh told BTR during an interview.
“We are looking to commercially launch MR: NO-AGENT on the first of April 2024 in all our global markets. This will be the most exciting development and a historic milestone in the company's journey, and we are eager to witness the positive impact it will have on property transactions,” he said.
Excerpts from the interview:
What inspired the development of Tripler's AI tool for lead generation in real estate?
Born out of five years of meticulous research addressing the challenges faced by real estate agents in prominent markets like New York, London, and Dubai, Tripler is more than just a solution — it's a game-changer. Estate agents wanted to shift their focus from acting as call centre agents to concentrating on what they do best – closing deals.
The inspiration for Tripler came during a lunch meeting in Dubai, where founders and directors identified a common frustration among real estate agents — the quality of real estate leads. It was a problem of overwhelming abundance of leads- akin to attempting to drink from a fire hose. This inspired the development of Tripler, a meticulous AI tool designed for targeted, qualified leads, tripling the likelihood of successful conversions. Welcome to a realm where AI redefines efficiency and effectiveness in real estate lead generation.
How do you derive the idea for Tripler and how the platform performs since its inception in 2018?
The original idea for Tripler emerged by being scribbled on a napkin at the coffee shop of the Four Seasons Jumeirah Hotel in Dubai in 2018. The big idea was to empower agents to triple their deal closures. The key was leveraging AI and advanced algorithms to curate perfect leads — equipping real estate agents with the correct information to match the perfect Agent. By addressing these pain points, we aimed to minimize spamming cold calls and triple the conversion agents would have from the leads.
What kind of training or support does Tripler provide to real estate professionals to maximise the benefits of its AI tool?
Tripler is the world's fastest-growing leads platform, revolutionising the real estate landscape through cutting-edge deep machine learning and AI technology. Our mission is clear: to empower agents to close three times the number of deals compared to conventional platforms.
Upon joining the Tripler platform, agents undergo mandatory video training, an integral part of our commitment to ensuring optimal utilization. This training is the gateway to accessing leads and closing deals on the Tripler platform. In our dedication to continuous improvement, we offer complimentary closing workshops to Tripler partners, fostering their skills and mastery of leveraging Tripler AI to maximise deal closures.
In what ways, does Tripler's AI technology contribute to personalised and targeted lead generation strategies? And how does it differ from traditional methods of lead generation in the real estate industry?
Tripler's technology is the first of its kind in the world to ensure targeted lead generation, amplifying closure rates by 300 per cent. Unlike conventional lead generation methods, we are the only company that generates leads independently of traditional social media platforms such as Facebook, Google, or Instagram. In fact, our marketing spending on these platforms is zero.
Our leads are superpowered with AI mind-reading capabilities, a game-changer in customer understanding, and there is a threefold higher likelihood of closure than regular internet leads. This distinct technological platform sets Tripler apart as an innovative lead generation solution.
How has the AI tool improved the efficiency and effectiveness of lead generation for real estate professionals? Can you share examples of success stories or case studies where Tripler's AI tool has significantly improved lead generation for real estate professionals?
There are over 6,200 agents and companies in Dubai that are now depending on Tripler for lead generation. These Tripler users no longer have to wait to speak to the customer to understand the customer's requirement; each lead comes with a voice recording of the customer, allowing agents to hear directly from the customer. This innovative approach has significantly increased conversion percentages compared to conventional leads. There are abundant case studies and testimonials of users on our website who have multiplied their commissions and income. Notably, some of Dubai's top Real Estate companies with over 500 agents have sought Tripler's expertise to train their entire salesforce using AI, ensuring a tripled deal conversion rate.
How is AI transforming the traditional real estate landscape especially in financial hubs such as New York, London, Dubai and Mumbai?
AI is transforming the real estate landscape in some of the world’s hottest real estate markets, including Dubai, Mumbai, London and New York. Revolutionary AI tools are transforming the real estate experience, offering immersive three-dimensional property walk-throughs. Agents leverage this technology to create AI avatars, enhancing client interactions through engaging introductory videos, thus streamlining the meet-and-greet phase of transactions. Clients, in turn, embrace AI tools to seamlessly compare properties across various portals, ushering in a new era of smooth and seamless real estate transactions.
How does Tripler address concerns about data privacy and security in the real estate lead generation process?
Privacy and security were paramount considerations during the development of our AI platform. Recognising the increasing significance of data privacy in Europe, our team ensured that Tripler aligns seamlessly with the gold standard – General Data Processing Regulation (GDPR), which manages how companies handle, obtain and share your personal information and data. Tripler is 100 per cent GDPR compliant, and our clients express a legitimate interest in property searches. We prioritise their privacy and do not spam them with unrelated products or services.
Our commitment extends beyond compliance; we do not share, sell, or allow misuse of our services for GDPR breaches. Tripler has a robust GDPR process, incorporating data protection, architecture, and heightened awareness to fortify our clients' information, ensuring it remains safeguarded and GDPR compliant at all times.
Looking ahead, what advancements or developments can we expect in Tripler's AI technology for the real estate sector?
We live in fascinating times- we recently saw Google announce its new AI tool called Gemini, which is far more advanced, then ChatGPT-4 and is already changing the game. ChatGPT-4 takes instructions by typed text, whereas Gemini can take instructions visually, through sound or typed text, it has far greater processing capabilities to process results. Available in three different formats, Gemini caters to both power users and regular customers alike.
We are very excited to announce that we are in the process of building the world's most powerful AI super-agent called MR: NO-AGENT. This superpowered robot virtual super-agent has full market coverage across all portals and websites, granting users access to all properties in the market, and factually accurate information about everything related to real estate. The advancements in AI technology have made it possible for us to create a virtual agent that outperforms any human counterpart in terms of market coverage, data accuracy, and efficiency.
We are looking to commercially launch MR: NO-AGENT on the first of April 2024 in all our global markets. This will be the most exciting development and a historic milestone in the company's journey, and we are eager to witness the positive impact it will have on property transactions. The vision of a future where AI empowers and streamlines these processes are without much human involvement is now within reach.
What advice would you give to real estate professionals looking to embrace and integrate AI technologies into their business models?
It is an exciting time to be a real estate professional. There are two options: educate yourself and embrace the age of AI, or risk becoming slowly irrelevant. The old business model of limited technology use is no longer relevant. Within the next six months, AI tools and robots are poised to revolutionise the real estate landscape. Agents who fail to integrate AI into their practices may find themselves replaced by more efficient automated systems. This not only poses a threat to individual agents but also has the potential to harm companies that lag behind in adopting these technological advancements.
My advice, particularly to young people in the current real estate industry, is that you must proactively educate yourself and embrace AI as a valuable ally. Waiting for AI to become a potential adversary, replacing your role, is not an option. By learning how to leverage AI effectively, you not only future-proof your career but also contribute to the overall success and innovation within the industry. The age of AI has arrived, and it's essential to be at the forefront of this transformative wave rather than struggling to catch up in its wake.
How do you see current and future trends in AI and real estate markets especially Dubai, New York and London (Post Brexit)?
The future is unpredictable but very exciting. Dramatic trends in AI and real estate markets are changing how the industry has operated for almost decades. Virtual walk-throughs are revolutionising traditional property viewing or site visits, offering a fresh perspective on how customers engage with real estate.
The era of customers being spammed by hundreds of agents is fading away, replaced by the precision of AI that seamlessly matches individuals to the perfect Agent. The conventional approach of managing property risks through title deeds is giving way to the security and transparency of blockchain technology, ensuring the smooth flow of property titles.
Innovative trends are shaping the landscape, spanning regeneration in construction management, advancements in property maintenance, and a focus on fostering healthy living within new developments—all fuelled by the power of AI. All these recent trends promise an inspiring future, and within five years, we anticipate a transformative shift in the industry propelled by AI innovation.
In the UK, London, the birthplace of the property agent industry over 300 years ago, is undergoing a significant evolution. Post-Brexit, there are winds of change, and we are now witnessing that new estate agencies like Strike are disrupting some established brand names. There is a new and exciting future for the industry, one in which AI plays a pivotal role in reshaping and revolutionising the way we engage with real estate.
HOW AI-POWERED PLATFORM WORKS
Sam Singh said Tripler is the world's leading PropTech company and was recently nominated for PropTech Company of 2023 at the Gulf Business Awards. At Tripler, innovation is in “our DNA, and one of our standout advancements” is mind-reading technology for property leads.
“We've introduced the MIU score — an AI mind for every real estate lead. It goes beyond words, revealing the true reality of a lead's means, intent, and sense of urgency. If real estate agents can tell the means, intent, and urgency of every single lead using AI, they have a huge advantage in closing transactions by eliminating time-wasting efforts. With this technology, agents now have superpowers to read the minds of every property lead and focus on high prospect leads that are most likely to convert,” according to Singh.
“With customer consent, the MIU platform captures voice recordings describing what they're looking for. Our Tripler AI engine then kicks into action, generating an emotional score that deciphers means, intent, and urgency through a sophisticated algorithm. This unique technology, the first of its kind globally, is now a reality with Tripler. It has been rolled out in Dubai as the first market in the world to see this incredible technology,” he said.
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