Rechat CEO Shayan Hamidi: Pioneering AI Integration in Real Estate Transactions
Rechat CEO Shayan Hamidi was back on stage today as an AI guest speaker at Inman Connect NY, offering insights into the ways in which AI is affecting transactions.
The panel, moderated by Inman’s Craig Rowe, featured Hamidi, Toni Costa, COO of Restb.ai, and Natalia Karayaneva, founder and CEO of Propy. The topic “AI’s Impact on Transactions: When Will There Be a Meaningful Shift in the Consumer Experience?” proved to be a compelling one to agents and brokers and sparked a lively discussion between the panelists.
“We’re all in the business of managing experiences,” Hamidi said. “And I think with AI, what we get are some of the key elements of what we want as a consumer, and even as agents. What we care about is having a good experience.”
Hamidi pinpointed three key elements AI brings to the industry: centralization, personalization, and automation.
Hamidi also explained how many of the tools agents have access to right now are generic AI models and are not trained in real estate, which is problematic.
“They don’t know anything about me, about you, about our networks: They don’t have access to any of our tools,” he explained. “So they’re very limited in terms of what they can do. They also hallucinate and come up with things that don’t make sense. So we can fix that by going through a process of training the models, and that’s what we’re doing (at Rechat). It takes time, it’s extremely sophisticated. You want to get these models to understand this world, understand the nuances of real estate and what we’re talking about.”
Hamidi went on to use Rechat’s copilot, Lucy, as an example of an AI model not just trained in real estate, but also has access to the agent’s individual listings, contacts and much more. An agent or broker can leverage Lucy to save hours of time, whether it’s by generating a CMA, tracking and automating touchpoints, or using predictive analytics to target marketing efforts.
Learn more about Lucy by watching this video, when Hamidi introduced Lucy at the iOi Summit Pitch Battle in August of 2023.
