Overheard my boss say he's testing AI for property valuations and i dont trust it

I was getting coffee in the breakroom yesterday and heard my brokerage owner on the phone talking about some new AI tool that does home valuations based on public records and photos. He said it saves 20 minutes per listing. I get that time is money but this isnt like writing an email or something. A house is such a big purchase for people. What happens when the AI misses a crack in the foundation or doesnt account for that weird smell from the neighbors place? Ive seen the automated valuation models online and theyre always off by like 15 grand around here. Has anyone else dealt with their company rolling this stuff out and pushing back on it?

3 comments

3 Comments

phoenix_bailey1mo ago

@drew_jones31 my buddy's brokerage used one and it missed a whole room addition because the permit wasn't uploaded yet.

drew_jones311mo ago

Honestly man, is it really that big of a deal? The boss is just trying to shave off some time, the AI is probably just a starting point anyway. You can still double check it and catch the crack in the foundation yourself, right?

james_bell1mo ago

@drew_jones31 pulled the same trick at my old shop and I just ran both numbers side by side until they saw the misses.