Will AI Replace Real Estate Brokers?

Sell, for a fee, real estate owned by others.

Semi-structured task combining routine and non-routine responsibilities.

Obtain agreements from property owners to place properties for sale with real estate firms.

Semi-structured task combining routine and non-routine responsibilities.

Act as an intermediary in negotiations between buyers and sellers over property prices and settlement details and during the closing of sales.

Semi-structured task combining routine and non-routine responsibilities.

Generate lists of properties for sale, their locations, descriptions, and available financing options, using computers.

Semi-structured task combining routine and non-routine responsibilities.

Manage or operate real estate offices, handling associated business details.

Complex problem-solving, strategic leadership, or high-empathy task requiring human judgment.

Compare a property with similar properties that have recently sold to determine its competitive market price.

Semi-structured task combining routine and non-routine responsibilities.

Maintain knowledge of real estate law, local economies, fair housing laws, types of available mortgages, financing options, and government programs.

Semi-structured task combining routine and non-routine responsibilities.

Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.

Semi-structured cognitive task involving analysis, inspection, or monitoring.

Check work completed by loan officers, attorneys, or other professionals to ensure that it is performed properly.

Complex problem-solving, strategic leadership, or high-empathy task requiring human judgment.

Rent properties or manage rental properties.

Complex problem-solving, strategic leadership, or high-empathy task requiring human judgment.

Maintain awareness of current income tax regulations, local zoning, building and tax laws, and growth possibilities of a property's area.

Semi-structured task combining routine and non-routine responsibilities.

Arrange for title searches of properties being sold.

Semi-structured task combining routine and non-routine responsibilities.

Appraise property values, assessing income potential when relevant.

Semi-structured cognitive task involving analysis, inspection, or monitoring.

Supervise agents who handle real estate transactions.

Complex problem-solving, strategic leadership, or high-empathy task requiring human judgment.

Arrange for financing of property purchases.

Semi-structured task combining routine and non-routine responsibilities.

Give buyers virtual tours of properties in which they are interested, using computers.

Semi-structured task combining routine and non-routine responsibilities.

Review property details to ensure that environmental regulations are met.

Semi-structured cognitive task involving analysis, inspection, or monitoring.