AI’s Biggest Impact Might Be in Real Estate

A number of real estate functions have many variables where artificial intelligence excels, such as home searches, transactions and productivity tools.

NEW YORK – Real estate is poised to be transformed by artificial intelligence (AI) more than any other industry, says Inman founder Brad Inman.

“AI will reinvent home searches, reimagine industry productivity tools, replace many agent duties, and speed up digitization of the entire process of buying and selling a house,” Inman predicts.

He says it’s not just legacy companies – other companies, including industry newcomers, could benefit from AI, “but they must reexamine their business models, invest and think about their role differently than they did in the past.”

Inman says his own company spearheaded digital-first real estate news coverage, but “we cannot sit idle, presuming nothing will change for how we go about giving readers the best information in the future.”

When it comes to AI, “only the curious and bold will win,” he says. “Those who hesitate, overthink or overcomplicate the fundamental benefits [of AI] will be left behind.”

Source: Inman (06/27/23) Inman, Brad

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