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The real estate industry has long been in the limelight for resisting fast technological change. From the bureaucracy-heavy homebuying exercise to remodeling routes as confusing as any other domain, innovation has followed far behind other sectors. Currently, artificial intelligence is the new force challenging this working mythology. It has posed an alternative for easy, cost-efficient, transparent homeownership and remodeling.
Smarter Remodeling Decisions With AI
One of the biggest challenges homeowners face today is dealing with thousands of contractor bids during remodeling. Comparing quotes can be confusing, especially when each proposal highlights different materials, timelines, and labor costs. Accepting the lowest number can be intensely tempting for homeowners, but that decision usually comes with hidden fees.
AI-powered tools are beginning to address this long-standing challenge. Great Buildz, a company focused on simplifying home renovations, recently introduced Bid Compare AI. The tool helps homeowners evaluate contractor bids side by side, revealing whether a “low” estimate reflects genuine savings or corner-cutting.
Jon Grishpul of Great Buildz highlights the importance of informed comparisons: “If it sounds too good to be true, it usually is… the lowest bid is not always the best bid. It’s important to compare bids apples to apples to truly know if that low bid is low for a reason.”
By applying AI to an often opaque process, platforms like Great Buildz empower homeowners to make smarter, data-driven remodeling choices that were previously unimaginable.
Fractional Home Ownership Powered by AI
Beyond renovations, AI is also making entirely new ownership models viable. Traditional homeownership options remain closed mainly to the young buyer in the high-demand housing market. Yet fractional ownership has presented an attractive alternative, where the sale and ownership of a house are shared amongst several persons through a legal entity.
Ownify is one company using AI to make this concept practical. Ownify lowers the administrative and financial hurdles associated with fractional ownership by automating the setup and management of limited liability companies (LLCs), underwriting, and pricing. This streamlined approach makes shared ownership more affordable and accessible for homeowners who are otherwise shut out of the market.
Frank Rohde of Ownify explains the breakthrough: “AI makes the model financially viable… it allowed us to automate all of the setup, reporting, and accounting, and that kind of unlocked this model in the first place.”
For prospective homeowners, this means lower costs, fewer barriers, and a more straightforward path into the housing market.
Final Thoughts
Integrating AI into real estate goes beyond enhancing efficiency or saving costs. This technology is introducing entirely new approaches to ownership and remodeling that never existed before. From empowering homeowners with better tools for comparing contractor bids to opening doors for first-time buyers through fractional ownership, AI is changing how people engage with real estate, one of life’s most significant investments.
As these AI tools evolve, the real estate industry is finally preparing to shed its reputation as a slow adopter. Instead, it may become a space where innovation will drive accessibility, transparency, and opportunity for the next generation of homeowners.
