Real Estate News and Market Moves Week 75

Recently, we received a number of industry-related questions in preparation for our upcoming appearance at IMN West, which you can find here. 

One of the questions asked is our approach to AI and technologies we are using. Currently, we are leveraging AI to enhance the clarity and consistency of our writing. Additionally, we are investigating ways to meaningfully integrate AI into our people-centric business model. Below are some ways we seek to empower our team, residents and clients through the adoption of AI. 

Communications: The Key to Enhanced Engagement 

Among the various applications of AI, streamlining communication stands out as the primary driver of improvement. For external comms, AI-powered chatbots are becoming more commonplace in the industry, allowing for immediate response to owners’ and residents’ pressing inquiries and concerns. This technology not only facilitates quicker interactions but also ensures consistent support. Owners and residents alike can receive timely information, while team members have more time to focus on strategic decisions and relationship-building—activities that require a personal touch. AI-powered tools can also enhance internal communication, offering businesses like ours greater organization and efficiency. We are excited about the positive impact these tools offer and actively exploring ways to increase efficiencies with communications across the board! 

Swift Data Analysis and Speed to the Deal  

Another major advancement driven by AI is the ability to analyze large datasets and manage data entry almost instantly. Traditional property management and investment sales methods often involve manual inputs and lengthy analysis processes, which can lead to inefficiencies. With AI, traditional ways to search for and manage properties can improve investors’ speed to the deal and yield insightful reports in a fraction of the time. This rapid processing enables our property managers and investor agents alike to make informed decisions based on real-time data, enhancing operational effectiveness and responsiveness to market changes. 

You can check out our Bold St AI property investment search tool here. What we really like about this IDX tool is the ability to search and analyze SFR listings across markets and get basic underwriting information instantly. Plus, when investors opt-in to our daily deals, they automatically gain access to similar opportunities, which increases speed to the right investment opportunities. 

Empowering Real Estate Professionals 

Rather than aiming to replace property management and real estate professionals, AI can serve as a powerful tool that complements their capabilities. By automating routine tasks, AI allows our team to dedicate their expertise to more complex challenges that require critical thinking and creativity. This shift enables team members to provide better service, and foster relationships with clients, tenants, vendors and strategic business partners in their respective markets.  

We see the greatest potential for AI to act as a supportive force, optimizing operations while allowing professionals to shine in their roles. As we move forward, balancing the sophisticated capabilities of AI with the irreplaceable human aspects of our work will ensure that we continue to deliver exceptional service and adapt to the evolving landscape of real estate investing. We look forward to having more meaningful conversations with our peers and colleagues at the upcoming IMN West conference about this topic and many more in the SFR industry.