UPDATED BY
Rose Velazquez | Feb 27, 2024

Artificial intelligence has transformed the real estate industry, forever changing the day-to-day work of appraisers, mortgage lenders and developers — not to mention homeowners. 

AI in real estate can take many forms. It encompasses analytics that inform investing and decision making as well as automations that help professionals throughout the industry provide an optimal customer experience. 

Appraisers, for instance, now compete with Automated Valuation Models, or AVMs, that use AI to value properties based on data and digital images. In addition, mortgage lenders make underwriting decisions that are rooted in AI's risk calculations, and developers select construction sites based on tips from AI platforms that specialize in hyperlocal zoning regulations.

AI has even made realtors more efficient (a shift that, some argue, has thinned their job prospects). AI-powered platforms can generate property recommendations tailored to each client’s personal tastes, and bots can sift through new leads for gems.

To help you understand the landscape of this burgeoning industry, we’ve rounded up 20 AI in real estate examples in which companies use the technology to shake things up.

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21 AI in Real Estate Companies to Know

Location: Santa Clara, California

How it’s using AI in real estate: Realtor.com is a real estate tech app that runs sales, rentals, purchases, pre-approvals and other standard real estate processes through a digital app. The company uses AI to comb listings and generate leads, which it sells to partner agents. Those agents then work directly with homeowners. The app also sells advertising space to real estate agents.  

 

Location: New York, New York

How it’s using AI in real estate: Keyway brings technologies like AI and machine learning to commercial real estate to make data-informed deals quick and efficient through its investment platform. The company works with sellers in the healthcare sector — private practice doctors, dentists and veterinarians — as well as multifamily property owners, offering them service models like rent-to-own and transition out.

 

Location: Chicago, Illinois

How it’s using AI in real estate: Silverwork Solutions use artificial intelligence to build “cognitive technologies” for the mortgage industry. Its solutions include software robots that complement the work of human employees, enabling automations that can help to deal with repetitive tasks. Silverwork Solutions’ says its technologies can help mortgage industry clients improve costs, customer experience and cycle time.

 

Location: New York, New York

How it’s using AI in real estate: Hyro builds conversational AI that can be used for the real estate industry. Its AI chat and voice interfaces can be available to customers when live agents are not. They’re capable of helping to match customers with properties, schedule viewings, capture and follow up on leads and answer customer questions based on consistently updated information.

 

Location: New York, New York

How it’s using AI in real estate: Entera brings its customers a residential real estate investing platform that uses AI to enable automations and intelligent analytics for finding, buying and operating single-family homes. The company services more than two dozen U.S. markets, with its platform seeing upwards of 1,000 transactions each month.

 

Location: Fully Remote

How it’s using AI in real estate: HouseCanary is providing unprecedented clarity with advanced machine learning-powered technology and products for homeseekers. The company offers a vast collection of resources, data and updates to help customers make informed decisions on properties of interest. With access to accurate home info and tailored searches, people can master the residential real estate market and select the right property for them.

 

Location: New York, New York

How it’s using AI in real estate: The AI in Compass’s customer relationship management platform nudges real estate agents to contact their clients when those clients are most excited to buy. Agents might get a heads-up when a client has been especially active on real estate websites, or has shown other digital signs of house hunting. The platform also auto-drafts emails to clients in order to speed up the outreach process.

 

Location: Austin, Texas

How it’s using AI in real estate: Rex owns multiple real estate technology brands, including JobCall, an AI assistant that helps to facilitate communication between property maintenance teams and renters. The technology is capable of using speech recognition to transcribe maintenance calls and tag them for prioritization.

 

 Location: Seattle, Washington

How it’s using AI in real estate: At Redfin, AI essentially augments human agents, handling some labor-intensive elements of their role. Redfin has automated the property recommendation process, for instance with an AI matchmaking tool. Data suggests it knows users’ tastes better than they do; they click on the matchmaker's suggestions more often than on properties that fit their own search criteria.

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Location: Irvine, California

How it’s using AI in real estate: CoreLogic’s OneHome platform uses artificial intelligence to help real estate agents match prospective buyers with the right homes. Its mortgage origination solutions also employ AI to automate the process of alerting users about missing documents and identifying potential sources of new income. The company says it works with more than 1.2 million agents throughout the United States and Canada.

 

Location: New York, New York

How it’s using AI in real estate: Cherre’s data management platform CoreConnect intelligently amasses and indexes real estate data from thousands of sources. The company also offers CoreExplore, a real estate analytics and insights platform that can use an organization’s connected data to automate workflows. Cherre has received multiple awards in recognition of its use of AI in its real estate products.

 

Location: Seattle, Washington

How it’s using AI in real estate: At Zillow, AI factors digital photos into free property value estimates, or “Zestimates.” The technology relies specifically on a neural network, trained on millions of photos and home values to “read” photos in new listings for relevant information. According to Zillow, the resulting estimates — also informed by metrics like square footage — predict property value with a national median error rate of 2.4 percent.

 

Location: New York, New York

How it’s using AI in real estate: Localize’s Hunter app is a concierge texting service that uses both artificial and human intelligence to consistently engage real estate agents’ leads, building a profile with relevant information like budget and pre-approval status. Users are updated about the progress of their leads, and Hunter alerts them when the buyer is ready to start visiting properties.

 

Location: Fully Remote

How it’s using AI in real estate: At Divvy Homes, AI personalizes applications for the company’s rent-to-own mortgages. The application form responds dynamically to the client's described financial situation, tacking on clarifying questions and cutting irrelevant ones. Artificial intelligence likewise speeds up underwriting calculations, which takes minutes at Divvy and can take a week with traditional lenders.

 

Location: Austin, Texas

How it’s using AI in real estate: Main Street Renewal owns and rents thousands of homes. The company’s portfolio expands by about 1,000 homes a month, too, thanks in part to AI. Its savvy helps executives identify and bid on properties that are unlikely to need extensive remodeling or spark bidding wars.

 

Location: San Francisco, California

How it’s using AI in real estate: On Trulia’s online real estate marketplace, AI customizes the user experience. The platform “learns” user’s tastes and favored search terms, grasping them in more granular detail the more the user browses the site. This informs the site’s recommendations, based on pages that were often visited by past users with similar taste profiles. 

 

Location: New York, New York

How it’s using AI in real estate: GeoPhy, a Walker & Dunlop company, uses an enterprise-scale AVM that relies on AI to estimate values for commercial properties, like office buildings and shopping complexes. Its smart algorithms feed on countless data points, ranging from hyperlocal data on crime and park proximity to digitized property records from around the world.

 

Location: Bellevue, Washington

How it’s using AI in real estate: Built on scalable cloud infrastructure, Quantarium’s AVM features deep learning algorithms that have processed data on more than 153 million property parcels in the United States. Mortgage lenders, construction companies and other real estate professionals rely on its valuations of commercial and residential properties.

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Location: Miami, Florida

How it’s using AI in real estate: Deepblocks’ subscription service optimizes real estate development with AI. The company’s smart algorithms keep tabs on migration and market trends, local infrastructure and zoning regulations. When queried, Deepblocks pinpoints optimal construction sites in a given neighborhood, and helps developers plan out ideal building timelines.

 

Location: New York, New York

How it’s using AI in real estate: Skyline AI, a JLL company, offers a tool for commercial real estate investors that blends human real estate expertise with AI’s ability to parse a firehose of data. That includes location and web data, and even AI-generated data. The result is a cutting-edge system that informs investor decisions on when to buy and sell properties.

 

Location: Bellevue, Washington

How it’s using AI in real estate: CityBldr employs AI to discover the undervalued properties and multi-property parcels that developers love. Informed by professional expertise from engineers, architects, appraisers and other real estate professionals, Citybldr has carved out a niche in the multi-billion-dollar property research and analytics industry.

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