20 Minute AI Appraisals Are Coming

[J Grant]

I read a couple of books about AI - I blur out on the tech aspect, but the books and articles conclude tht though AI can learn and mimic thinking, AI does not think; it does not correlate diverse aspects of a problem the way a person can. It can do a deep dive into data, for example, in chess to come out with unexpected strategic moves or in science to develop new drug combos. But it has no self-conception or morality about what it does -it can create a highly effective poison as well as a cure, and then the experts have to sort through which is which.

That is why so many of the searchable AI answers are generic and bland and won't come down on one side or another, or find a serous flaw or uncover courrption the way a whilsetl blower can, and ask AI a sensitive subject wquesion and it wont provide an answer, - too contorovioral, too great a chance for the company to be sued. So what good is it then? We can search the internet with a few more clicks and find out the same and deeper as well if it takes a few more minutes to search.

 

[Zoe]

Many States could keep it from happening within their boundaries. They could get fined big time. Think when the State receives a complaint and guess who did the appraisal?

 

[Vermonter]

A company using AI can insure against errors the same as appraisers. Other than physical inspection, there is very little an appraiser can do that a properly trained multiple agent AI can't. And you don't need an appraisal license to visit a property and take pics.

The complexity of adoption is the only reason AI hasn't replaced appraisers all together by now. It's a big move requiring multiple agents for different steps in the process all having to work together. It's already happening in other fields so it's only a matter of time.

 

[J Grant]

A company using AI can insure against errors the same as appraisers. Other than physical inspection, there is very little an appraiser can do that a properly trained multiple agent AI can't. And you don't need an appraisal license to visit a property and take pics.

The complexity of adoption is the only reason AI hasn't replaced appraisers all together by now. It's a big move requiring multiple agents for different steps in the process all having to work together. It's already happening in other fields so it's only a matter of time.

The cost of developing multiple trained AI agents, which even then might not replicate what an appraiser does, is very cost-prohibitive and years away, if ever, for full integration. And no, other fields are not being fully replaced by AI.

All the hype is for software companies to sell this service, which is overkill and even adverse for some applications. It has already taken over many internet searches and does not offer a thing over what anyone can search for themselves and sometimes blocks additional searches or makes it more time-consuming to find other answers beyond the generic curated answers the AI chooses.

 

[Vermonter]

The cost of developing multiple trained AI agents, which even then might not replicate what an appraiser does, is very cost-prohibitive and years away, if ever, for full integration. And no, other fields are not being fully replaced by AI.

All the hype is for software companies to sell this service, which is overkill and even adverse for some applications. It has already taken over many internet searches and does not offer a thing over what anyone can search for themselves and sometimes blocks additional searches or makes it more time-consuming to find other answers beyond the generic curated answers the AI chooses.

Are you sure that book on AI you keep referencing is from this decade?

Glorify it all you want, but reality is all an appraiser does is data collection, data entry, data analysis and data reporting. All things on the top of the list of jobs current AI can easily replace.

 

[chad hampton]

The AI that I’ve seen so far in this profession has been extremely disappointing. Pretty much 100% of the phone app generated sketches I see in the MLS are incorrect.

 

[cpursley]

Why can't AI use every free home value site on the internet to give you several values, and for free. Home owners don't care how, if they like the value being us or avm doing it. AI lending, 1 step shopping done in 5 minutes. Alexa can ask you the questions needed.

Speaking of AVMs - appraisal value calculator with a twist:

Home Appraisal Calculator - Find Your Property's Worth - FindAnAppraiser.com

Get an instant estimate of your home's value with our free property appraisal calculator. Compare automated valuations with professional appraisals.

www.findanappraiser.com

 

[Joe Flacco]

Are you sure that book on AI you keep referencing is from this decade?

Glorify it all you want, but reality is all an appraiser does is data collection, data entry, data analysis and data reporting. All things on the top of the list of jobs current AI can easily replace.

I don't think AI can easily replace. Real estate is pretty complex.

I am not really worried about AI. I think the AI hype is like the 5G hype.

 

[Vermonter]

Real estate is pretty complex.

What's so complex that can't be quantified by 1s and 0s?

 

[Joe Flacco]

What's so complex that can't be quantified by 1s and 0s?

You don't see things in your day to day work that computers would have difficulty with? If that is the case then I question what you do and how you work.