Using AI in our Property Valuations

by John Matsis

For the last year or so, The Matsis Team has been using AI prompts to help with every property valuation, commercial and residential.

We are consistently amazed by the increasing (by the day) ability to pull data from overlooked sources not used in most other agents' comparative market analyses.

Our latest prompt helped us price a mixed-use commercial listing by analyzing 10+ very similar Queens properties that have sold in the last 18 months but also took into account micro-market trends like:

- Nearby business and residential permit applications pulled from NYC open data
- Residential vacancy rates/rent trends within a 5-block radius based on StreetEasy data
- Neighborhood sentiment changes based on Reddit posts
- Mass transit schedules and disruptions pulled from the MTA

Every town, neighborhood and block has its own story. The market analysis being used to price any property should take this into account.

Engineering these prompts is becoming one of the most important skills you should be looking for in your agent's arsenal.