Real Estate Has the Worst PR, and So Does AI

Market Insights3 min read
Judd Hoffman
Judd HoffmanCEO and Co-Founder, Ethica AI

Why does the word make a room tense?

AI has a PR problem. Bring it up at a college graduation and the room tightens a little, and that happens well before anybody has asked what it would actually do for them. The reaction is to the word.

What is it already doing that nobody notices?

This is the part I keep coming back to. That same room has been flying on autopilot for years, and autopilot is AI. The thing that decides which calls are worth showing you is AI. So is the car that holds its own lane on the highway. Nobody thinks twice about any of it, because nobody stuck a label on it. It's all in how you use it, which has been true of every tool anyone has ever picked up.

None of those things arrived with an announcement either. Each one showed up inside something people already wanted, did its job, and quietly stopped being a topic. That tends to be how a tool stops being frightening. Not an argument, just a few months of it working.

Where should it show up in a transaction?

Real estate carries a reputation problem of its own, which is the part I find funny, because the agents carrying it are the best at the job. That's why we're betting on the agent rather than looking for ways around one.

So the question was never whether AI belongs in a transaction. It's which half of the job it takes. My answer is the quiet half: the fourth follow-up on a signature, the paperwork, the chasing that has to happen before anybody gets paid. That's where the money quietly leaks out of a deal, and it's the half that keeps pulling an agent out of the room where they're actually useful.

An assistant is patient at six on a Friday in a way a person can't be asked to be. It doesn't get bored of the fourth follow-up. That's a narrow talent, and it happens to line up exactly with the part of this job nobody chose the career for.

Put two underrated things next to each other and they turn out to fit.

The short version

Quick takes

  • Why are people afraid of AI?

    Mostly the word rather than the experience. Plenty of people who tense up at the phrase have been flying on autopilot for years and carrying a phone that decides which calls are worth showing them. The reaction usually arrives before the question of what it would actually do for them.

  • What is AI already doing that people do not notice?

    Autopilot on the plane, lane keeping in the car, call screening and sorting on the phone. None of it gets booed, because none of it got labelled. It has always been a question of how a tool gets used.

  • What should AI actually do in a real estate transaction?

    The quiet half. Ethica, the AI transaction assistant, carries the paperwork and the fourth follow-up on a signature, so the advising and the negotiating stay with the agent. That is also where the money quietly leaks out of a deal.

Sources

  1. We're Betting on the Agent
  2. Where The Money Actually Leaks In Real Estate

Transcript

80 words

Real estate agents have the worst PR. And you know who else has the worst PR? AI.

So I happen to be working on two sectors that have really bad PR. It's true.

Everyone's afraid of AI. Their PR in AI is so bad, and real estate agents, sorry, have the worst PR, and they are the best out there.

It's just funny to me. So why not have two negatives, because you know what that equals? One big positive.

Keep reading.

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