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rtificial intelligence has elevated the quality of core real estate products, but it hasn't diminished the need for accurate and reliable information from professionals in the field. Property investors continue to demand high-quality MLS listings, property appraisals, and analytics. What defines top real estate professionals today is no longer just their human expertise, but also the quality of data used to produce these core products.

    Here are ten essential real estate functions that rely on quality data:

    1. **Property Valuation and Pricing**: Automated valuation models (AVMs) use computer algorithms to estimate a property's value in seconds, drawing from vast amounts of public records, property listings, and recent sales data. This results in more accurate valuations than manual estimates.

    2. **Reporting and Analytics**: AI solutions that predict market movements facilitate better business decisions by providing insights into what the property market is likely to do. However, for clarity, the data used needs to be focused on specific areas of interest.

    3. **Marketing**: Targeted marketing strategies rely on accurate demographic data to reach lucrative demographics. For example, if an analytics report shows that empty nesters and retirees are likely to impact the housing market, a real estate agent can target them with tailored marketing materials.

    4. **Lead Generation**: Predictive analytics reveal consumer and buyer trends, allowing marketers to zero in on prospects, lower marketing costs, and improve results. Companies using AI in real estate sales show a 50% increase in leads and a 45% higher conversion rate compared to those who don't.

    5. **Customer Service and Communications**: Chatbots are indispensable tools for real estate CRM, resolving issues for clients in 75% of cases by interacting with them, asking questions, and delivering fast responses. However, chatbots rely on recent and accurate data to provide reliable information.

    6. **Property Management**: AI-powered property management tools automate routine tasks like sending rent collection notices and maintenance requests. Chatbots also play a role in answering renters' queries and concerns, but they require quality data to do so effectively.

    7. **Property Investing**: AVMs that provide accurate property valuations help investors with negotiations when buying and selling properties. Rental AVMs predict future potential rental income by analyzing data on past sales and rentals.

    8. **Property Viewings**: AI-powered virtual reality (VR) and augmented reality (AR) allow potential buyers to enjoy immersive property viewings and walkthroughs, integrating property data from ATTOM such as school data, points of interest, economic data, or climate data.

    9. **Risk Assessment**: Risk assessments based on AI-ready data enable powerful risk mitigation by accurately delineating flood zones and land use in a certain area and showing building footprints.

    10. **Home Services**: Home service companies can save money and time by using AI-ready data to find their clients, such as properties' renovation histories or hot real estate markets where homeowners might be seeking contractors.

    Market leaders rely on AI-ready data to power these critical functions, understanding that the quality of data sourced is what makes AI-based products effective.