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A.I. and Real Estate
Since everything seems to be getting outsourced by A.I. and many jobs are at risk including middle managers, is there any threat of A.I. in the real estate world? I'm genuinely curious. Obviously, you probably won't see some robot doing sales deals or doing open houses to clients or billboards with some A.I. saying they'll find your best home. Is there any application of A.I. in real estate? Will it provide any benefit to making better deals?
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I think A.I is already disrupting various aspects of real estate investing. We already used it to calculate material costs for a rehab. It wasn't far off. The only reason it was is because of surprises we missed during the initial walk through. Combine it with labor quotes from trusted contractors and it speeds up your system for flips or BRRRR deals.
It's good for estimating market rent. We normally search for rents online (various sites), and talk to local investors. A.I can do it in like 30 secs. You can use it for listing descriptions. It's wordy and always needs tweaked but it saves time. I used A.I to doctor some grass on our listing photos. For us it's about saving time and sometimes money.
A.I doesn't provide the relationships needed to be successful in this business. Money and systems are parts of investing but it's not everything.