Real estate agents, mortgage advisors, and insurers are used to working with AVMs that can be wildly inaccurate when it comes to predicting closing prices of home sales. Part of the reason often lies in flawed data sources, but the main issue is that AVMs don’t factor in the condition of the property or the value of upgrades.
Lemay.ai has a proven capability for building machine learning systems that not only pull from more data sources to create better base AVMs, but that also provide unprecedented accuracy thanks to image recognition systems. Factoring in the right photos of the property can provide better closing price predictions because AI systems can learn to recognize the features buyers want, like hardwood floors and granite countertops.
When used across a real estate portfolio, tools like this can mean an aggregate improvement in closing price predictions to the tune of millions of dollars in some markets.
The challenge that commercial real estate professionals face is finding those “perfect fit” tenants for targeted marketing and sales efforts. Business owners are keenly aware that location can mean success or failure, so starting new conversations with a winning proposition will keep spaces occupied and more profitable in the long term.
Lemay.ai has developed systems that identify patterns in collections of commercial spaces, and how these patterns correlate to other competing options. This uncovers the type of tenant that would succeed in your space so there’s no guesswork about where to target marketing outreach.
The right AI and machine learning system will mean much less guesswork and repetition. With our help, your team will be able to spend more time doing what they do best: building stronger relationships with tenants or buyers. Lemay.ai brings together the best of AI expertise and business acumen, and can help you use systems effectively to build a better business.
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