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ech entrepreneur Joe Lonsdale, co-founder of Palantir Technologies, shares his insights on how artificial intelligence will impact the real estate industry. In a conversation with Andrew Flachner, host of the Playmakers podcast, Lonsdale predicts that AI will make some jobs in real estate obsolete while elevating others.

    Lonsdale believes that AI is rapidly improving and will help top-performing agents excel by streamlining workflows and automating time-consuming tasks. However, he warns that those who fail to adapt may struggle to keep up with the increasing competition. "Does it replace all agents? Probably not for a very long time," Lonsdale said. "But does it help the best ones and put pressure on everyone else? Almost for sure."

    To prepare for AI, Lonsdale advises real estate professionals to start experimenting with new technology and embracing innovation. "Try out the new technology; don't be afraid," he urged. "You should be playing with it and having fun with it. And if you're not, you're not going to keep up."

    While AI excels at specific tasks, Lonsdale notes that human agents still possess unique qualities that are essential for building relationships with clients. By leveraging AI's strengths and focusing on their own expertise, top agents will be able to handle more clients and increase their profitability.

    However, those who fail to adapt may find themselves replaced by more efficient agents. "Probably the best agents win, and the second- and third-tier agents probably get replaced," Lonsdale said. Industry insiders with strong connections and market expertise will be better equipped to succeed in an AI-driven industry.