The Daily Dirt: AI isn't coming for your commercial broker

"I see AI as an accelerant for us. I believe this is really a gift that having AI is an enabler for the great talent that we have to do more and to expand more, to give them the tools, the data, the infrastructure to improve their business."

"[AI] is an efficiency tool that, like any other form of progress, will upend certain areas and allow more growth in others. Renting a cookie-cutter apartment? Sure, that can be done online without human interaction. Negotiating a complex commercial lease with terms, concessions, renewal options and rent resets? That's not a click-and-submit exercise."

"AI will eliminate certain jobs, but brokers will also use it as a tool to move faster on grunt work like lease documentation, floor-plan mockups and client sourcing. The technology will also spawn jobs that we can't even imagine."

Commercial brokerage stocks have experienced volatility despite strong earnings as investors worry AI could eliminate advisory fees and automate business functions. However, brokerage CEOs argue AI cannot replace the fundamental broker-client relationship built on market knowledge, reputation, and negotiation skills. They position AI as a business accelerant that provides brokers with data and tools more efficiently and cost-effectively. Industry analysts agree AI poses no existential threat, noting it functions as an efficiency tool similar to past technological advances. While AI may eliminate certain routine jobs like documentation and floor-plan creation, it will also create new opportunities and allow brokers to focus on complex transactions requiring human expertise.

Read at therealdeal.com