AI Secrets in Real Estate Revealed

The Easy Win AI Real Estate Show

In this episode, Vadim Kleyner, CEO of Smartland, and I discuss AI's practical applications in real estate.

Key topics covered:

• Practical applications of AI in business and optimizing FaceBook advertising strategies.
• Significance of AI in decision-making.
• Vadim spends 10% of his 12-16 hour office day on ChatGPT for communication, reports, and verifying tenant information.
• Smartland has plans to upgrade their chatbot, Lisa, to an AI-based version.
• Ambitious plan to upload 15 years of data into an AI environment for better decision-making and reporting.

Highlights of the conversation:

• AI in databases:
• Proprietary use of a custom GPT to analyze tenant payment behavior.
• Difference between 3D vector databases and traditional databases for efficient data processing.
• Collaboration to create a custom system for housing corporate intelligence.

• Use of ChatGPT:
• Analyzing data points from FaceBook ads reduces costs and dramatically increases conversions.
• Detailed discussion of the underwriting process for buying apartment buildings and the role of data.

From Vadim:

• Why should real estate professionals pay attention to AI today?
• The industry is shifting from manual, labor-intensive processes to more efficient, AI-driven methods.
• There will be significant changes in how and where people spend time in the industry, with a big shift in human capital investment over the next five years​​.
• How do you use AI personally?
• Uses personal productivity tools embedded with AI for tasks like checking grammar and readability in emails.
• Finds these tools valuable for consistent work oversight and improvement​​.
• Any easy wins for listeners to test and try with AI?
• Recommends playing around with ChatGPT for various tasks such as writing essays or job descriptions.
• Highlights that these tools can be a great starting point and significantly ease the drafting process​​.

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