Justin Colby

I just anyone that is going to be investing in the asset, anyone that's going to be putting the money out. And that includes hedge funds, small mom and pops, et cetera. They're not going to 100 percent rely on technology because technology itself can fail. Right. That is it's foolish to think that just because technology is 100 percent accurate.

I just anyone that is going to be investing in the asset, anyone that's going to be putting the money out. And that includes hedge funds, small mom and pops, et cetera. They're not going to 100 percent rely on technology because technology itself can fail. Right. That is it's foolish to think that just because technology is 100 percent accurate.

And so you need to inspect what you expect all the time. And that goes through all your business, etc. Now, the other component that I said really heavily makes me pretty firmly believe that AI cannot take over the real estate space is the human to human component on negotiations. Let's just make the argument.

And so you need to inspect what you expect all the time. And that goes through all your business, etc. Now, the other component that I said really heavily makes me pretty firmly believe that AI cannot take over the real estate space is the human to human component on negotiations. Let's just make the argument.

that there's enough AI out there that we do get to a place where all analysis is done via AI. Okay, well, now what? So you just send over an offer via technology, okay? And then who's receiving that offer? Is it technology? Well, then who owns the asset? Probably people, probably a company, probably a hedge fund.

that there's enough AI out there that we do get to a place where all analysis is done via AI. Okay, well, now what? So you just send over an offer via technology, okay? And then who's receiving that offer? Is it technology? Well, then who owns the asset? Probably people, probably a company, probably a hedge fund.

You think they're going to allow technology to say yes or no to whatever offer that comes through. And so again, the hand-to-hand negotiation component, and I believe this to be in all spaces, I believe always should be a person. I believe it should always remain in our hands because I believe negotiations and sales in general are

You think they're going to allow technology to say yes or no to whatever offer that comes through. And so again, the hand-to-hand negotiation component, and I believe this to be in all spaces, I believe always should be a person. I believe it should always remain in our hands because I believe negotiations and sales in general are

there needs to be empathy, there needs to be emotion, there needs to be some stuff that just a black and white technology bot, although sure, you can make an argument that all these voice AIs are just as good, I just don't believe that for a second. They're fine for what they are, but they aren't ever gonna replace us, right? That's my belief. This went into the conversation about title companies.

there needs to be empathy, there needs to be emotion, there needs to be some stuff that just a black and white technology bot, although sure, you can make an argument that all these voice AIs are just as good, I just don't believe that for a second. They're fine for what they are, but they aren't ever gonna replace us, right? That's my belief. This went into the conversation about title companies.

Title companies, you know, there's always been conversation around even not Bitcoin, but blockchain. Blockchain replacing title companies, replacing escrow officers. And all this stuff can now happen on the blockchain. So that's been happening for years. Now we have AI technology.

Title companies, you know, there's always been conversation around even not Bitcoin, but blockchain. Blockchain replacing title companies, replacing escrow officers. And all this stuff can now happen on the blockchain. So that's been happening for years. Now we have AI technology.

Now everyone's leaning into this idea that, you know, okay, well now we can remove escrow agents and title agents and all these different things. I got to be honest with you guys. I don't see that happening at all. Now, again, I'm not saying that there aren't going to be components of AI or even blockchain coming into the real estate space and playing a part.

Now everyone's leaning into this idea that, you know, okay, well now we can remove escrow agents and title agents and all these different things. I got to be honest with you guys. I don't see that happening at all. Now, again, I'm not saying that there aren't going to be components of AI or even blockchain coming into the real estate space and playing a part.

But this crowd in our room filled up fast. If you guys have ever been at these conferences, this was the IMN conference, not the Inman, but the IMN conference. There are some rooms that have eight people and then some rooms who have, you know, 100 people. Our room had 100 people. Everyone wanted to hear about AI.

But this crowd in our room filled up fast. If you guys have ever been at these conferences, this was the IMN conference, not the Inman, but the IMN conference. There are some rooms that have eight people and then some rooms who have, you know, 100 people. Our room had 100 people. Everyone wanted to hear about AI.

And I just, again, believe that the nuance of title, insurance, coverages, going and finding, you know, any liens, there's a lot of technology that can do this stuff. but is largely dependent upon human capital, human resources to get the job done and over the finish line. If you've ever done deals, you know that at the closing table, it can be frustrating.

And I just, again, believe that the nuance of title, insurance, coverages, going and finding, you know, any liens, there's a lot of technology that can do this stuff. but is largely dependent upon human capital, human resources to get the job done and over the finish line. If you've ever done deals, you know that at the closing table, it can be frustrating.

Buyers don't show up, sellers don't show up, all sorts of different things, right? It's not just spitting out, you know, title insurance and a HUD, right? There's actual, this is why many states, uh, fiduciary states, there's closing lawyers, like quite literal lawyers. Right. Um, and so I just fully dismissed this idea of title.

Buyers don't show up, sellers don't show up, all sorts of different things, right? It's not just spitting out, you know, title insurance and a HUD, right? There's actual, this is why many states, uh, fiduciary states, there's closing lawyers, like quite literal lawyers. Right. Um, and so I just fully dismissed this idea of title.