Artificial Intelligence and Real Estate, 29th March, 2024.

Artificial Intelligence is with us. It will bring many benefits but may also bring danger. Our worldly authorities are searching for ways to mitigate against damaging and malicious misuse. I have read recently that AI is already being used to imitate and interrupt realtor to client communications, appearing to be the normal course of business. The article mentioned voice and written e-communications – for example, calling a realtor’s clients using an AI created voice that matches the real realtor or writing an email purporting to be from the real person. Either could cause substantial financial loss. Real estate companies may be large, but their offices are local, as are clients, and with large value personal deals in a potentially less than sophisticated security environment, they can become attractive targets to hackers and thieves. Much like the current advices to clients about wiring monies for a closing, which is to call the escrow agent on a known phone number and ask for wiring instructions immediately prior to making the transfer and not to rely on any instructions received in any other way, it’s becoming more and more important to be aware and careful in our business (and even personal) communications. We must all exercise caution and react to anything that makes us feel mildly wary or gives us even the slightest concern – “something seems out of place, I don’t know what, it’s just a feeling”. Be intuitive and react to that feeling. How can I help? Firstly, my voice is fairly distinctive, but an AI version may have some sounds or use words that raise a doubt because they may not be the way I phrase or emphasise sentences. If you feel in any doubt, even slightly, ask “me” a question only you and I know the answer to, or hang up and call me. I promise I won’t be mad if you cut me off if it really was me calling! In written communications, I will always, always, always use English spelling (colour, favourite, programme, normality, sanitise et al.) and I’ll definitely always write dates day, month, year. If you ever feel something might be awry, call, text or email me using the contact information you have for me and know to be good. By being aware and reacting to the smallest inkling of a potential falsity, we just might avoid a financial catastrophe together.