Real estate is not a new industry. It has been formed over the centuries to help make the risky and important process of buying, selling, and leasing properties safer and easier. Many technologies have been adopted to help property professionals make their jobs more efficient. Websites, email, spreadsheets, CRMs, valuation calculators, search engines, all of these have helped change the way real estate is transacted. But it seems like we are approaching the limit on how technology can help humans do their job more efficiently. For the real estate industry to level up it will have to learn how to teach software how to do some of the tasks altogether. Be it speeding up the sales process, using real-time fee calculators, spotting errors in documents, or sorting through piles of data to help make complicated decisions, smart software is learning how to do these—better than a human ever could.
How is this done? Artificial intelligence. A growing list of technology companies are finding ways to use AI to help make real estate more efficient and, of course, make the people in real estate a lot of money by doing so.