AI And The Short-Term Rental Industry: How It Could Impact Hosts And Property Owners

JLL researchers identified at least 500 companies around the world that are developing AI-powered products and services for real estate. Moreno Valley agent Nallely Quintero uses AI to create posts for Instagram, TikTok, Pinterest, Snapchat and at least four other social media sites. While the technology is a growing trend in the industry, the National Association of Realtors’ director of emerging technology, David Conroy, says business usage among realtors has so far been limited. Shoppers are able view photos, videos and floor plans of new homes and can add what they like to their collection. Co-buyers can also collaborate with each other and find out where their opinions overlap. «People are completely unprepared, even when they’re looking for a property to rent,» says Shin, who has worked as an agent at EXR and Compass, and was an editor at the personal finance site MyBankTracker.com.

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The beauty of Fello is that it works your existing database to make sure no one is falling through the cracks. The process continues to be dominated by stagers, photographers, marketing agencies, and human virtual staging providers—leaving sellers to shoulder the cost, time, and coordination. Using AI, Airbnb is also working to verify that properties are what their hosts claim they are. Last year, a verification badge was introduced to reduce the number of fake listings across its top five markets (the United States, Canada, Australia, the United Kingdom and France). However, the process is to be streamlined with AI photo and video verification tools.

Best for short-term rental data

Throughout the home buying journey, the sheer volume of property information that needs to be accessed and analyzed is immense. However, real estate data remains extremely fragmented, expensive, and time-consuming to collect. Enter RealReports, like a supercharged Carfax for homes which harnesses the power of AI to simplify and expedite the entire research and diligence process from days into seconds. Central to each report is an AI copilot named Aiden, which analyzes tens of thousands of data points from within each RealReport to answer any property question in real-time. Zeev Ventures led the round, with participation from Group 11, Menlo Ventures, Crosslink Capital, Stereo Capital, and others. With generative AI increasingly handling routine and analytics-based tasks, real estate agents, appraisers, brokers and marketers will find their focus shifting towards higher-value, strategic responsibilities.

“It’s based on AI-powered predictive mode that looks at the likelihood of attrition within our agent base, which helps our market center leaders recruit productive agents, which is core to our business,” Cox said. Now, earning the «guest favorite» badge will show which properties are in the top 25% of listings and also the top 1%. Those badges will become the goal of every provider, especially those offering high-end luxury stays that claim to be the best a traveler can expect. Airbnb is also introducing another badge for the bottom 10% to indicate a low-quality let, hopefully encouraging those hosts to raise their game, too. Given it was only a few years ago, it shows how quickly we adapt and take such improvements for granted. From uniquely personalized recommendations and pinpoint pricing strategies to automated property maintenance and steps forward in customer service, AI has made the world easier.

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This attention to ethical design standards helps real estate professionals stay compliant with local and national advertising rules, avoid misrepresentation, and build long-term trust with both buyers and fellow agents. “Let me put it this way,” said Sam Witteveen, cofounder of Red Dragon, a company that develops agents for companies, and that recently reviewed the 48 agents it built last year. Cox agreed, saying that AI and data will allow real estate agents to better comply with their fiduciary duties to clients. As the co-founder of a property management company, we take care of onboarding and managing our clients’ properties on various platforms, including Airbnb.

Furniture rentals, photography sessions, and weeks of back-and-forth leave agents stuck in the past. Even the traditional virtual staging solutions take days to turnaround, while today’s buyers make decisions to attend an open house online—often in seconds. The guest favorite badge relies on additional metrics, such as subcategory ratings, review sentiment, host cancellations and quality-related customer service issues, diving deeper into the data provided by visitors.

Collov AI

HomeLight provides recommendations for top-performing agents and steers folks looking to sell homes to its Simple Sale product, which taps into a network of over 70,000 preapproved agents and over 150 cash buyers who compete to buy. “Research shows that home buyers are frustrated with real estate websites that don’t effectively cater to new home buyers. HomLuv’s visual, design-forward approach gives buyers and builders a shared language, eliminating confusion, streamlining the process and creating a great experience for both.» Licensed New York City real estate agent Ruth Shin founded PropertyNest a year ago. Based on a proprietary algorithm, the site helps New Yorkers rent or buy a new home based on their credit score and the features they most want.

• Now, virtually anyone who can speak English (and many other languages) can program computers to analyze data, write reports or create modified images without having any technical expertise.
• Digitization, the internet, and more recent trends like drone photography and virtual reality have all made a big impact.
• Maintaining a consistent pipeline of potential buyers and sellers ensures the business’s sustainability and growth, but it requires an immense amount of work and marketing expertise, which is often outside an agent’s core competencies.
• By the early 2000s, advances in computing power fueled the rise of deep learning, with virtual assistants like Siri showcasing AI’s utility in consumer applications.
• As AI integrates further into essential business operations, companies need strong frameworks to mitigate risks and harness AI’s full potential securely and sustainably.

And new AI tools such as fraud prevention, next-generation chatbots, back-office automation, and document recognition are being evaluated, says Rick Hill, the MBA’s vice president of industry technology. Real estate has continued to evolve over the years, going from offering only in-person showings to facilitating virtual tours. It’s no surprise that artificial intelligence, which has transformed industries like healthcare and robotics, is also bringing advancements to the world of real estate. The startup’s tool allows Realtors to add furniture to images of empty rooms within seconds. Instead of having to share images of empty rooms in a listing, the tool gives Realtors realistic images of furnished rooms.

Despite the fears, advocates say the new tools make it easier to focus on the jobs humans do best — spending time with clients, holding their hands when they’re nervous, explaining the details of a contract. Access to housing and equitable housing markets is important to society, which is why many governments implement stringent legislation around the buying and selling of property. Real estate agents, brokers and other industry professionals must be aware that they will be accountable if using generative AI puts them in breach of local laws and regulations. Which tasks require your personal touch, and which ones take up your valuable time without contributing much to your bottom line? Some of the real estate AI tools on our list offer trial periods, allowing you to test drive them before fully integrating them into your workflow. This level of creative control empowers real estate professionals to tailor listings for specific buyers — without waiting days or paying extra fees.