How Artificial Intelligence Is Changing Real Estate

By Jason Penrose

Jason has been licensed since 1999, and is currently one of the top 20 agents in Arizona for homes sold.

Artificial intelligence is already making waves in real estate, with predictions that it will reshape industries in the coming years. AI tools are beginning to transform how we access property-related information, offering quick insights and answering questions.

AI may be a helpful tool, but before relying on it too much, here’s what you need to know.

1. What AI can do for you. AI can calculate mortgage payments, provide neighborhood research, and compare home return rates to national averages. However, the real strength of AI lies in the quality of the questions being asked. From my experience, the better the question, the more useful the response.

2. Paid AI services. There are also paid AI services that allow users to set up and manage projects. These tools can perform specific tasks consistently, using self-learning models to analyze real estate portfolios, calculate returns, and evaluate cap rates over time, based on historical averages.

3. Use AI with caution. While AI can provide valuable insights, you still need to remain cautious. Some responses may not be accurate, so it’s wise to verify the information and be skeptical, especially if the answers are unclear. Plus, the quality of AI’s responses largely depends on how carefully the questions are framed. Well-thought-out and specific queries typically yield the most reliable results.

AI has the potential to be a valuable tool for both investors and homeowners, but it should be used thoughtfully and with proper verification. If you’d like to learn more about how to use AI in real estate, feel free to reach out. You can contact me at (602) 738-9943 or email jason@thepenroseteam.com. I’d be happy to share my insights with you!