AI is Transforming Real Estate, But Personal Connections Remain Key, Says Patrick Fields of Real Broker

• Artificial intelligence is enhancing efficiency and providing instant support for real estate experts
• Real Broker's AI assistant "Leo" offers 24/7 real-time answers, significantly aiding agents
• Tools for virtual staging and predictive analytics are making property management and investment decisions more data-driven.
• Despite AI's benefits, the core of real estate remains in personal relationships and client interactions.

From home searches and staging to vacation rental management, artificial intelligence is reshaping the way we buy, rent, and manage property.

For Patrick Fields, a real estate agent with Real Broker in Edmonton, Alberta, AI has already proven to be a game-changer. His brokerage recently launched "Leo," an AI-powered assistant integrated into their transaction management platform. Leo provides 24/7 support, offering real-time answers to questions about transactions, policies, procedures, and technical issues—all tailored to the needs of individual agents.

"It’s quite remarkable," Fields said via email. "We work all hours of the day, and being able to get the answer or response we need immediately is fantastic."

Fields’ experience reflects a broader trend reshaping the real estate industry. From AI-powered assistants like Leo to tools that generate property descriptions and virtually stage homes, real estate professionals are increasingly leaning on AI to enhance efficiency. In fact, McKinsey & Co estimates that generative AI could generate $110 billion to $180 billion or more in value for the real estate industry.

The ability to get instant answers or automate repetitive tasks also means agents can focus more on building relationships with clients—a key aspect of the job that many, including Fields, still find irreplaceable.

“I have worked with it a few times, but I still quite enjoy the creative and personal touch of writing my own descriptions,” said Fields.

One of the common AI use cases is staging vacant properties—a much faster and more cost-effective alternative to traditional furniture staging.

"It is so efficient versus bringing furniture in and out of the property," he said. With a few clicks, AI can help buyers visualize how a space might look with different layouts, making vacant properties more appealing.

Meanwhile, investors are benefiting from AI’s predictive analytics, which can assess property values and potential rental returns. These data-driven insights are becoming a vital tool for those looking to make smarter, more informed investment decisions. Startups like PropStream, for example, can provide the most up-to-date property values by pulling them from several data sources and updating them with its machine learning AI as soon as they’re available.

But despite AI's advantages, real estate is still, at its core, a people business.

"There are so many elements where AI is a tremendous asset," said Fields. "But I hope it never takes the place of time with clients viewing homes, getting to know them, and working together to find the right home using our knowledge of the market."

This sentiment is echoed by many in the industry. While AI can handle back-end processes like transaction management and data analysis, the heart of real estate—building trust, understanding client desires, and negotiating deals—still relies heavily on personal connection.

“The relationships with clients is the best part of my job, said Fields. “I think it unlikely that we would ever see AI replace things like negotiating price during the offer process. It will, however, continue to be a part of our day to day and I believe more agents will embrace it to assist them.”