Can AI Solve the Housing Crisis?

The Easy Win AI Real Estate Show

My YouTube show/podcast guest this week, Chris Christensen, NAR's Director of Technology Policy, is particularly interesting (not that other shows are not!) because Chris handles ‘policy’ which means much of his daily life is spent on or around The Hill in DC. Though representing the National Association of Realtors, so very much a real estate focus, Chris deals with a broad range of issues pertaining to the implementation of AI – many that go way beyond plain ol’ real estate applications. Watch (or listen) to this episode to hear Chris discussing, through the lens of policy making at the highest levels, (can you discuss something through a lens?), copyright and privacy issues amongst other things, stressing how regulation is evolving to keep up. He talks about how the NAR is actively exploring AI use cases, focusing initially on enhancing internal tools. how AI models streamline data accessibility on the NAR website, aiding in underwriting guidelines, and for member resources. There are some incredibly powerful housing data and predictive analytics that emerge as key areas where AI can provide significant value and Chris explains how NAR members will be able to access this wealth of data. Here are some highlights we discuss:

• AI in Real Estate: Chris explains how AI can enhance customer experience, streamline operations, and provide competitive advantages to agents who use it.
• Regulatory Landscape: AI’s impact on bias, copyright, and privacy, and the need for robust regulation.
• Practical Applications: AI's role in transaction management, zoning, tax policy, and data accessibility on the NAR website.
• Housing Crisis: AI's potential to improve housing affordability and liquidity (this is a biggy).

And to wrap up, I ask all guests the same three questions. Here are Chris’s answers (the 3rd one is gnarly!) 1. Why should real estate investors or professionals be paying attention to AI today?

• Embrace Change: AI is fundamentally changing core principles of real estate. Ignoring it will be perilous, while embracing it can lead to personal and business advantages.
• Competitive Edge: Using AI can help you differentiate yourself among your peers, giving you a significant competitive edge.
• Inexpensive Solutions: Many AI solutions are not expensive, offering easy and cost-effective ways to stand out and increase efficiency.

2. How do you use AI daily? What tools and apps do you use?

• Note-Taking and CRM: AI tools are used for taking notes and managing customer relationships.
• Presentations and Writing: AI assists, like Gemini, in creating presentations and writing white papers.
• Image Generation: Various image generation tools are used to visualize concepts.

3. One easy win using AI for listeners/viewers to try immediately:

• OpenAI Covert Influence Operations Report: Chris recommends reading the recently released report on how AI is used for covert influence operations on social media. It makes for intense reading: https://openai.com/index/disrupting-deceptive-uses-of-AI-by-covert-influence-operations/

*****

The only Podcast you need on real estate and AI. Learn how other real estate pros are using AI to get ahead of their competition. Get early notice of hot new game-changing AI real estate apps. Walk away with something you can actually use in every episode. PLUS, subscribe to my free newsletter and get: • practical guides, • how-to's, and • news updates All exclusively for real estate investors that make learning AI fun and easy and insanely productive, for free. EasyWin.AI