Commercial Real Estate AI Tools

: Revolutionizing the Industry

Looking to streamline your commercial real estate operations? AI tools are changing the game. Here's a quick rundown of 3 top tools:

1. Dialzara: AI-powered virtual phone answering service
   • 24/7 call handling
   • Starts at $29/month for 60 minutes
   • Potential 90% cost savings vs human receptionist
2. LeaseLens: AI lease abstraction tool
   • Extracts 200+ fields from leases
   • $25 per export
   • Used by over half of AmLaw 100 firms
3. Proda AI: Machine learning for rent roll processing
   • Cuts processing time by up to 90%
   • Handles multiple languages and currencies
   • Custom pricing based on needs

Quick Comparison:

These AI tools can save time, boost accuracy, and cut costs in commercial real estate. But they're not one-size-fits-all. Pick based on your specific needs, budget, and existing systems.

1. Dialzara

Dialzara is an AI-powered virtual phone answering service for commercial real estate businesses. It handles calls, appointments, and customer inquiries with a professional touch.

How It Works

Dialzara uses AI to create a virtual phone agent that sounds human-like. It understands real estate lingo and matches your customer service style. Here's what it can do:

• Answer calls 24/7
• Screen callers
• Handle basic customer questions
• Transfer calls when needed
• Gather info from new clients

Pricing

Dialzara has three main plans:

You can cancel anytime through your online account. Need more minutes? You can buy them as needed.

Connection Options

Dialzara works with over 5,000 business apps. While they don't list specific ones, it's likely compatible with your CRM or property management software.

Setting up is easy:

1. Make an account and train your AI agent
2. Pick a voice for your agent
3. Choose a phone number
4. Set up call forwarding

Dialzara says it can help you save up to 90% compared to hiring a human receptionist. It can handle more calls without dropping the ball on quality. In the fast-paced world of commercial real estate, where quick responses can make or break a deal, this efficiency can be a game-changer.

If you're in commercial real estate and want to up your communication game, Dialzara might be worth a look.

2. LeaseLens

LeaseLens is shaking up commercial real estate with its AI-powered lease abstraction. It's all about making lease management quicker, more precise, and less of a pain.

How It Works

LeaseLens uses smart tech to grab key info from lease docs. Here's the scoop:

• Pulls out 200+ standard fields from leases
• Whips up detailed summaries in minutes
• Handles both property and equipment leases
• Offers cool tools like self-updating stacking plans

But here's the kicker: It's not just fast, it's accurate. CRE experts double-check everything to make sure it's spot-on.

Pricing

LeaseLens keeps it simple:

Got a big project? You'll need to chat with their sales team. They also offer human review for large-scale jobs.

Connection Options

Right now, LeaseLens is standalone, but it's got some nifty features:

• Drag-and-drop for easy uploads
• Secure platform to keep your lease data safe
• Custom dashboards and reports (with Prophia Portfolio)

Emma Stewart from CloudTamers says:

"Ultimately, the main reason to integrate your finance and lease management platforms is to set your business up for growth and scalability."

LeaseLens is heading that way, with more integration options coming soon.

In the fast-moving CRE world, where getting it right matters, LeaseLens is proving its worth. It's not just about saving time - it's about making smarter calls with better data. And with over half of AmLaw 100 firms already on board, LeaseLens is fast becoming the go-to tool in the industry.

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3. Proda AI

Proda AI is shaking up commercial real estate with its machine learning software. It's all about making rent roll data processing quick and accurate.

How It Works

Proda AI is like a super-smart assistant for your rent roll data. It:

• Grabs key info from rent rolls in seconds, regardless of format
• Handles different property types, languages, and currencies
• Spots and fixes errors automatically
• Transforms messy data into a clean, 800-point data model

The best part? It can slash data processing time by up to 90%. What used to take hours now takes minutes, and weeks-long projects can wrap up in a day.

Tanguy Quero, Investment Principal at JLL Spark, says:

"Proda is a perfect illustration of how this will play out in the specific case of rent roll data."

Pricing

Proda AI doesn't publish its prices. They offer custom quotes based on your needs. But here's what we know:

• They have options for all business sizes, from startups to big enterprises
• There's a free trial available
• Pricing is said to be fair and budget-friendly

Connection Options

Proda AI plays well with others. It handles rent rolls from popular property management systems like Yardi, MRI, OneSite/RealPage, and Sage. Its tech includes:

• Optical Character Recognition (OCR) for reading tricky PDFs
• Natural Language Processing (NLP) to understand what it's reading
• Custom parsing algorithms for complex documents

While there's no mobile app, you can access it through mobile browsers. For the tech-savvy, there are APIs for exporting data and building custom reports.

Proda AI isn't just a time-saver. It's about turning your rent roll data into a competitive edge. By freeing your team from data drudgery, it lets them focus on what matters: making smart, data-driven decisions that can boost your bottom line.

What Works and What Doesn't

AI tools in commercial real estate have their strengths and weaknesses. Let's look at Dialzara, LeaseLens, and Proda AI:

These tools are great, but they're not perfect. Dialzara answers calls 24/7, but it might struggle with tricky conversations that need a human touch. LeaseLens is a whiz at lease details, but it doesn't play well with other software yet.

Proda AI crunches rent rolls like nobody's business, but its hush-hush pricing might scare off smaller firms. As Tanguy Quero from JLL Spark puts it:

"Proda is a perfect illustration of how this will play out in the specific case of rent roll data."

This shows Proda's potential, but also hints that it might not fit every workflow like a glove.

AI in real estate is moving fast. A recent survey found that 70% of real estate companies plan to jump on the AI bandwagon for better efficiency. This means these tools will likely get even better soon.

If you're thinking about using these tools:

1. Pinpoint your biggest workflow headaches
2. See how each tool might cure those headaches
3. Think long-term: Will the time and accuracy gains outweigh the costs?

Which Tool Should You Choose?

Picking the right AI tool for your commercial real estate needs isn't easy. Your choice should match your needs, budget, and current systems. Here's a breakdown:

Phone management: If you're losing business from missed calls, check out Dialzara. It's always on, knows real estate talk, and costs way less than a human receptionist. Plans start at $29/month for 60 minutes - great for smaller firms.

Lease abstraction: LeaseLens is your best bet here. At $25 per export, it's good for businesses with a decent number of leases. It pulls out over 200 fields and gives quick summaries. Perfect for streamlining lease management.

Rent roll processing: Proda AI is the big player here. They don't share prices publicly, but they can cut processing time by up to 90%. If you're dealing with complex, multi-language rent rolls, Proda AI's automatic error-spotting could be a game-changer.

When choosing, think about:

1. How much work you're dealing with
2. If it needs to work with your current systems
3. Your monthly budget for AI tools
4. Which tasks are eating up time or causing errors

Keep in mind, CRE's AI world is changing fast. As Spencer Burton, President of Stablewood, puts it:

"We're so early in this, that a year from now all these things will be different."

This means you need a tool that can keep up and update regularly.

Still not sure? Reach out to Ascendix. They help CRE pros find the right AI tools for their specific needs, from property valuation to AI chatbots.

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