Artificial intelligence (AI) is quickly transforming just about every industry, including real estate. In fact, “AI has enormous potential to reshape real estate, with near- and long-term impacts ranging from the emergence of new markets and asset types to innovations in investment and revenue models,” says Yuehan Wang, Global Research Associate, Real Estate Technology, JLL. “A rapidly expanding AI ecosystem and its supporting infrastructure will drive new demand for real estate in different markets globally.” All of which is positively impacting companies, such as
La Rosa Holdings (NASDAQ: LRHC), eXp World Holdings (NASDAQ: EXPI), CBRE Group (NYSE: CBRE), Janover Inc. (Nasdaq: JNVR), and Realty Income (NYSE: O).
Even better, as noted by WealthManagment.com, “AI can improve productivity, reduce operational spending and enhance stakeholders' abilities to discover, research, and close deals.” In addition, “investors calculating NOI and ROI can use artificial intelligence tools to understand what investment factors to consider when considering a deal. By the same stroke, underwriters and lenders can better predict potential returns on certain contracts and optimize their liquidity for more secure investments.”
Look at La Rosa Holdings Corp. (NASDAQ: LRHC), For Example
La Rosa Holdings Corp., a holding company for seven agent-centric, technology-integrated, cloud-based, multi-service real estate companies, entered into a strategic referral partnership agreement with Janover Inc. (Nasdaq: JNVR), an AI-enabled B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch. Janover operates an online commercial loan marketplace that connects prospective borrowers and lenders for originating loans and will introduce La Rosa to clients that need commercial real estate brokers. The partnership is expected to provide La Rosa’s brokers with new tools to facilitate commercial loans, thereby generating a new revenue stream for La Rosa’s brokers and the Company.
“We are very excited about our referral agreement with Janover,” commented Joe La Rosa, CEO of La Rosa. “Janover provides a powerful platform that addresses key issues related to inefficiency in the commercial real estate lending market,” commented Joe La Rosa, CEO of La Rosa. “We believe their expansive network of banks and first-in-class AI enabled fintech platform will help drive referrals to our brokers. In addition, our agreement with Janover builds on our track record and growing brand recognition within the residential market by providing new tools to help originate commercial real estate loans, illustrating our commitment to driving new revenue streams for our brokers and the Company. We believe in the power of AI and the impact it will make in the real estate market. We recently launched our own proprietary AI system called JAEME that drives marketing, efficiency, and sales. By harnessing the power of Janover’s AI fintech marketplace and technology, our goal is to help realtors stay ahead in today’s competitive market and drive better outcomes.”
Blake Janover, CEO of Janover, also commented on the referral agreement, “We are excited to partner with La Rosa. We believe this is a natural fit as they too are innovators within the commercial property transaction space. Our AI-enabled platform is expected to improve loan outcomes for borrowers and create more competitive loan terms than traditional means because of our significant reach, resulting in an improved certainty of execution which bodes well for La Rosa’s buyers and sellers. We believe our partnership with La Rosa will drive value to La Rosa’s and Janover’s customers alike, enhancing our respective ecosystems and generating new revenue for both platforms.”
Other related developments from around the markets include:
eXp World Holdings, “the most agent-centric real estate brokerage on the planet” and the core subsidiary of eXp World Holdings, Inc. announced the launch of its new Thrive program, designed to incentivize culturally aligned, producing teams to join the eXp Realty family. Once onboarded, the team lead will receive an equity award based on their previous 12-month production, subject to future vesting. “As a company committed to continuously pushing the boundaries in support of our agents, eXp Realty is always looking for new ways to enhance the agent experience,” said Michael Valdes, Chief Growth Officer, eXp Realty. “Earlier this year, we introduced two incentive programs, Boost and Accelerate, aimed at helping independent brokerages and individual agents transition to eXp Realty. Now with the addition of Thrive, we are offering teams an accelerated equity opportunity. We understand that each team has its own unique culture and way of doing business, and we want to provide a platform for them to thrive in our agent-centric environment.”
CBRE Group reported financial results. “Commercial real estate capital markets remained under significant pressure in the third quarter. As a result, we experienced a sustained slowdown in property sales and debt financing activity, which drove the decline in core earnings-per-share. This decline was exacerbated by delays in harvesting development assets which we will sell when market conditions improve," said Bob Sulentic, president and chief executive officer of CBRE. "Over the last several quarters, we have detailed the increased importance of our resilient and secularly favored businesses. These businesses saw continued solid growth in the third quarter, led by Global Workplace Solutions."
Janover Inc., an AI-enabled B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch, announced that it is poised to leverage OpenAI's latest technological advancements following the OpenAI Dev Day 2023. “The introduction of GPT-4 Turbo marks a significant enhancement in our capacity to deliver faster, more precise, and instruction-compliant support to our borrowers, lenders, and stakeholders across our ecosystem,” commented Blake Janover, CEO of the Company. “With this upgrade, we believe we will be able to continue to advance our ability to not only comprehend complex financial queries with remarkable efficiency but also optimize our system’s interactivity and data integration.”
Realty Income, The Monthly Dividend Company announced operating results for the three and nine months ended September 30, 2023. "Our Realty Income One Team continues to deliver strong results on behalf of all of whom we serve. Our pending merger with Spirit represents an exciting component of our future growth plans," said Sumit Roy, Realty Income's President and CEO. "We believe the transaction, which is expected to be immediately accretive once closed and will not be reliant on external funding, will create a solid foundation for growth in the coming year, during which we intend to be disciplined and patient capital allocators. As we look further to the future, we believe the enhanced scale and diversification afforded by Spirit's complementary portfolio will support and expand our future growth runway."
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