The next competitive advantage in property will come from better information

Property businesses looking for an advantage through artificial intelligence should begin with a deceptively simple question: how much of their own information can they actually trust?

For Joe Sokolic, founder and CEO of Sokolic Property Group, the most valuable opportunity lies in connecting property knowledge, client requirements and timely action.

“The real value of AI in property is being able to connect a verified requirement with a verified opportunity quickly enough to make a commercial difference,” says Sokolic.

Consider a business looking for warehouse space. A useful match depends on far more than location and floor area. Yard access, loading arrangements, power requirements, occupation dates and affordability can determine whether a property deserves a viewing at all.

An AI-assisted workflow could organise those requirements, identify possible matches and highlight missing information. Its usefulness, however, would depend on the accuracy of the underlying records.

A warehouse that has already been let remains a poor recommendation, however convincingly a system describes it.

Sokolic argues that property firms should treat database maintenance as part of client service. Availability should have a verification date. Requirements should have an accountable owner. Important specifications should carry a source.

“A database should help a broker explain why a property fits, what still needs checking and what the next step should be,” he says.

This also changes how technology investment should be assessed. The useful measures are practical: fewer unsuitable recommendations, less repeated research, faster preparation of credible shortlists and more informed conversations.

Sokolic’s view is that the strongest opportunity belongs to businesses that combine detailed market knowledge with disciplined information management.

“AI becomes commercially useful when it helps us make a better decision and gives us enough evidence to stand behind that decision.”

First published on sokolic.co.za by Sokolic Property Group.

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