AI Revolutionizing Real Estate
Leveraging artificial intelligence, these companies are at the forefront of AI revolutionizing real estate, redefining the way we buy, sell, and invest in properties.
The real estate sector has been profoundly impacted by AI revolutionizing real estate, leading to significant changes in the daily operations of appraisers, mortgage lenders, developers, and homeowners
AI applications in real estate are diverse. They encompass analytics for investment and decision-making. Additionally, AI is used for automation to enhance the customer experience for industry professionals
For example, appraisers now contend with AI-driven Automated Valuation Models (AVMs) that evaluate properties using data and digital images. Mortgage lenders employ AI-based risk assessments for underwriting decisions, while developers choose construction sites with the help of AI platforms that specialize in hyperlocal zoning regulations.
AI has even made real estate agents more efficient, although some argue this has reduced job opportunities in the field. AI-enabled platforms can generate personalized property suggestions for clients, and bots can filter through new leads to find the most valuable prospects.
To help you grasp the burgeoning industry, we’ve compiled 17 examples of AI in real estate, showcasing companies using the technology to disrupt the sector.
18 AI in Real Estate Companies to Know
Silverwork Solutions
How it’s using AI in real estate: Silverwork Solutions employs AI to develop “cognitive technologies” for the mortgage industry. Its offerings include software robots that complement human employees, enabling automation to handle repetitive tasks. Silverwork Solutions claims its technologies can help mortgage industry clients improve costs, customer experience, and turnaround times.
How it’s using AI in real estate: Hyro builds conversational AI that can be used for the real estate industry. Its AI chat and voice interfaces can be available to customers when live agents are not. They’re capable of helping to match customers with properties, schedule viewings, capture and follow up on leads and answer customer questions based on consistently updated information.
Entera
How it’s using AI in real estate: Entera offers a residential real estate investing platform that leverages AI for automation and intelligent analytics to find, buy, and manage single-family homes. The company serves over two dozen US markets, with its platform processing more than 1,000 transactions per month.
HouseCanary
How it’s using AI in real estate: HouseCanary provides unparalleled clarity with advanced machine learning-powered technology and products for home seekers. The company offers a vast array of resources, data, and updates to help customers make informed decisions on properties of interest. With access to accurate home information and tailored searches, people can navigate the residential real estate market and choose the right property.
Rex
How it’s using AI in real estate: Rex owns multiple real estate technology including JobCall, an AI assistant that facilitates communication between property maintenance teams and renters. The technology can use speech recognition to transcribe maintenance calls and categorize them for prioritization.
How it’s using AI in real estate: Cherre’s data management platform CoreConnect intelligently amasses and indexes real estate data from thousands of sources. The company also offers CoreExplore, a real estate analytics ,also insights platform that can use an organization’s connected data to automate workflows. Cherre has received multiple awards in recognition of its use of AI in its real estate products.
Localize
How it’s using AI in real estate: Localize’s Hunter app is a concierge texting service. It uses both artificial and human intelligence to consistently engage real estate agents’ leads. The app actively builds a profile with relevant information, including details such as budget and pre-approval status. Users receive regular updates about the progress of their leads. Additionally, Hunter alerts them when the buyer is ready to start visiting properties.
Divvy Homes
How it’s using AI in real estate: At Divvy Homes, AI personalizes applications the company’s rent-to-own mortgages feature an application form that responds dynamically to the client’s described financial situation. Notably, it incorporates clarifying questions while eliminating irrelevant ones, thereby ensuring a more seamless and personalized experience’s. Artificial intelligence likewise speeds up underwriting calculations, which take minutes at Divvy and can take a week with traditional lenders.
Main Street Renewal
How it’s using AI in real estate: Main Street Renewal owns and rents thousands of homes. The company’s portfolio expands by about 1,000 homes a month, too, thanks in part to AI. Its savvy helps executives identify and bid on properties that are unlikely to need extensive remodeling or spark bidding wars.
Trulia
How it’s using AI in real estate: On Trulia’s online real estate marketplace, AI customizes the user experience. The platform “learns” user’s tastes and favored search terms, grasping them in more granular detail the more the user browses the site. This informs the site’s recommendations, based on pages that were often visited by past users with similar taste profiles.
How it’s using AI in real estate: GeoPhy, a Walker & Dunlop company. It uses an enterprise-scale AVM that relies on AI to estimate values for commercial properties, like office buildings and shopping complexes. Its smart algorithms feed on countless data points, ranging from hyperlocal data on crime and park proximity to digitized property records from around the world.
Quantarium
How it’s using AI in real estate: Built on scalable cloud infrastructure, Quantarium’s AVM features deep learning algorithms that have processed data on more than 153 million property parcels in the United States. Mortgage lenders, construction companies and other real estate professionals rely on its valuations of commercial and residential properties.
Deepblocks
How it’s using AI in real estate: Deepblocks’ subscription service optimizes real estate development with AI. The company’s smart algorithms keep tabs on migration and market trends, local infrastructure and zoning regulations. When queried, Deepblocks pinpoints optimal construction sites in a given neighborhood, and helps developers plan out ideal building timelines.
Skyline AI
How it’s using AI in real estate: Skyline AI, a JLL company, offers a tool for commercial real estate investors. It blends human real estate expertise with AI’s ability to parse a firehose of data. That includes location and web data, and even AI-generated data. The result is a cutting-edge system that informs investor decisions on when to buy and sell properties.
CityBldr
How it’s using AI in real estate: CityBldr employs AI to discover undervalued properties and multi-property parcels. Informed by professionals, Citybldr has carved out a niche in the multi-billion-dollar property research and analytics industry.
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