AI streamlines pricing, reporting, and data analysis for busy real estate agents.
AI is becoming a popular topic in real estate, but there’s still confusion about what it is, how it works, and what it can actually do. I’ve recently begun studying it more closely, and I want to share what I’ve learned from both past experience and current use. Here’s everything you need to know:
1. New area of study. Although this is a new area of study for me in real estate, I’ve worked with AI before. After finishing graduate school and earning my MBA, I started my first career as a sales engineer at a major technology company. My training included learning how to write software code, and one of my first assignments involved an AI project. That was over 30 years ago. AI is not magic. It’s software created, written, and controlled by people. It’s not an autonomous force or some science fiction scenario. It is a tool.
“AI is not here to replace real estate agents, but it is a helpful resource.”
2. Power of software. What has changed is the power of today’s software and its ability to interface with the vast amount of data available online. Much of this data is free and easily accessible. It includes flight records, home values, tax details, lot sizes, and more. The volume of data is enormous and growing daily. AI can now collect, compare, and analyze this information faster than any human could, and that makes it a powerful tool in real estate and beyond.
3. AI improvement in home pricing. I’ve started using AI to help with home pricing, and I believe it will continue to improve in this area. AI can scan large sets of property data, compare values, and help identify trends. However, it still struggles to evaluate the unique strengths of each home just by looking. It can help identify potential buyers and manage follow-up, but it still lacks the ability to walk through a home and assess it like a person can.
4. AI is still limited. AI currently has significant limitations when it comes to negotiation. It does not listen to clients the way an experienced agent does, and it cannot weigh the emotional or practical risks of certain decisions. These are still very human skills, though that could change in the future. For now, negotiation and client interaction remain areas where people are essential.
5. Report, preparation, analysis, and fact-checks. Where AI shines is in preparing reports, gathering facts, and analyzing information. If I were in college today, I could probably use AI to write most of my reports and papers. Its ability to dig through data and assemble clean summaries is impressive.
In the context of real estate, this means better market research, stronger presentations, and quicker access to information. Still, when it comes to residential property sales, there are limits to what AI can do.
6. The future of AI in real estate. I believe AI will play a bigger role in property tax evaluation, home inspection summaries, and bid generation. It is developing rapidly, and many people, including those close to me, are working on AI solutions right now. This technology is moving quickly, and it will be a valuable tool for buyers and sellers who are ready to use it. Real estate today looks very different than it did 20 or 30 years ago. My team continues to evolve alongside the market so we can give clients the best support possible, with or without AI.
AI is not here to replace real estate agents, but it is becoming a helpful resource. As a tool, it works best when combined with experience, ethics, and clear communication. Real estate continues to change, and my goal is to stay ahead of that change while offering trusted, reliable service rooted in honesty and care.
If you have questions or need guidance, I’m here to help. You can call me at 419-466-SOLD or send an email to jon@modene.com. I look forward to helping you thrive in this changing market landscape.
