How Artificial Intelligence is Revolutionizing Real Estate

Hey! It’s Jeremy.

This week I’ve been diving deep into some AI Tools in the Real Estate sector. But quickly before we jump in … I want to welcome our 100+ new subscribers!

If you’re brand new to AItod.ai, here’s a quick reminder of what you can expect in each week’s email. Every week we choose 1 Business Vertical, 2 AI Tools (sometimes with bonuses), and 3 Examples, or use cases, of how you can actionably implement those tools into the business vertical.

Alright, it’s the weekend, so let’s keep this intro short and sweet. Here’s what you’re getting this week:

✅ Business Vertical: Real Estate
✅ AI Tools: House Canary | BoxBrownie (those are fun names, right?)
✅ Examples / Use Cases: Lightning Fast Valuation Models, Professional Virtual Staging & Virtual Renovations.

💼 Business Vertical: Real Estate

I realize that “Real Estate” has about 700 professions within it. It’s one of the largest sectors of our economy. As of May 2022, there are over 1.56 million real estate agents operating in the US. Just agents!

AI is changing the landscape of business and Real Estate is no exception. After spending quite a bit of time researching it, this vertical is certainly positioned to be revolutionized, and soon.

Augmented reality, virtual reality, web3, smart contracts on the blockchain - these are all major shifts that I believe will change real estate within the coming decade. Because of that, it can be hard to know where to start.

Well, don’t get overwhelmed. It’s easier than you think to get started 👇️ 

🔧AI Tools for Real Estate

1) House Canary (link) - Groundbreaking solutions to buy, sell and finance homes. Built for agents, financial institutions, investors, lenders, mortgage investors, and consumers.

2) BoxBrownie (link) - Unreal photo manipulation for real estate. Get image enhancement, virtual staging, day to dusk, remove items from a room, and way more.

✔️ Examples / Use Cases:

Let’s start with House Canary. 

As they say on their website, “Investing in Real Estate means keeping up with change.” That’s true if you’re an investor, a buyer, a seller or an agent. What if there was a way to not just look at the price of a property, but use machine learning and AI to create a valuation based on all the important factors?

What about the land it sits on? And also the view from the porch? What about … how well it’s been taken care of, the finishings, the city, the age, the sales history, the comps, the school district, the crime rate, the … it’s a ton of data!

AI handles data really well. Much better than humans, actually. And House Canary is able to scrape all of that data and give you a lightning fast valuation on a home:

House Canary combines artificial intelligence and image recognition to “extract actionable insights from a sea of real estate information.”

Seems like a game-changing tool using AI to aggregate the data, speed up the research, and feed that power to any agent or RE professional ready to use it!

Now let’s look at BoxBrownie:

This tool might be my favorite I found when researching all AI tools in the real estate vertical. Honestly, this is one I just have to “show” you instead of “tell” you.

Photos, in real estate, are everything. Heck, a few years ago, my wife and I sold our home in under 24 hours. We sold to a couple from another state - they saw the pictures, called their agent and put an offer in.

So let’s say your photos stink. Or maybe the house (or property) isn’t very photogenic. No problem … enter BoxBrownie.

Need to enhance a bad photo?

Took the photo at a bad time of day?

Empty house and would like it to be staged better?

Full house and you’d like it to be less cluttered?

Need to “paint the picture” to a potential investor of what it could look like after renovations? Check this out …

Need to give your client a visual based on floor plans? Yep, they do that too.

They’ll do this for Residential, Commercial, specific renderings that you need, and even more custom stuff.

I told you it was cool 😎 

🎁 Wrapping Up

I’m continually impressed with what AI can do.

I’m even more impressed with the people that have figured out how to utilize it for amazing results like the tools above.

Check out the House Canary & BoxBrownie companies - kudos to them.

No, I’m not paid by them. These are just two cool tools I found on my own that I wanted to broadcast to you and anyone you know in the real estate business. (Bonus tools below)

⚡️ 7 BONUS Real Estate AI Tools to Supercharge Your Business:

• ListingCopy.ai - Tired of writing listing descriptions? Use this AI description generator that delivers premium results in seconds.

• CityBLDR - Developers, check this out. Find any development site near you faster than ever.

• Deepblocks - The largest digitized zoning database in the US, uses AI to automate dozens of data points for investment opportunities.

• Cherre - Leading Real Estate data management and analytics platform. Puts all of your data in one place.

• Hunter - AI Chatbot for Real Estate. Never lose another deal.

• Skyline.ai - Commercial Real Estate investing meets AI. A platform for faster and more comprehensive analysis of commercial real estate properties. (They just got acquired and are expanding)

• And of course, ChatGPT-4 - the OG of the AI tools. Ask it to write your listing description, your underwriting agreement, your rental contract, your video scripts, your marketing plan to grow clients, etc.

Hey, can I ask you for your help? 
As a business owner or leader, you typically know a few other business people. I’d appreciate it if you shared our newsletter with them so we can help them leverage AI in their business, as well. And yes, we’re tracking your referrals so that you can unlock cool rewards when you hit milestones! 👇️👇️👇️ 

That’s it for this week! See you next week with another vertical for the AI revolution.

As always…
Never Stop Learning.

Jeremy

3 Must-See Things Happening in AI:

🔗 Goldman Sachs Predicts 300 Million Jobs Will Be Lost Or Degraded By Artificial Intelligence (LINK).

🔗 Incredibly realistic AI-generated image of Pope Francis goes viral, creating concern over how good Midjourney is getting (LINK).

🔗 Ameca, the famous humanoid robot by Engineered Arts, can use ChatGPT-3 to speak multiple languages and hold a conversation (LINK).