Artificial Intelligence Transforming Real Estate: Opportunities, Risks, and Future Predictions

In Episode 32 of the Toronto Livings Podcast, hosts Mark Savel and Joey Virgilio delve into the impact of artificial intelligence (AI) on the real estate industry.

They examine the changes AI brings such as improved property searches, valuations, marketing strategies and process automation, and potential risk of AI outsmarting humans. They also share their insight on AI's assistance in creating content, business plans, creative messaging and discuss the ethical implications.

The hosts explore the controversial issue of AI replacing human jobs and stress the need for human interaction in the AI-driven world. Ultimately, they speculate on the future of AI in real estate and other industries, while also discussing their personal updates, food discoveries, market trends, and upcoming properties.

(00:00) Introduction and Welcome
(00:31) Toronto Livings Podcast: Real Estate, Culture, and Food
(01:08) AI Joey and Human Joey: A Funny Interaction
(01:42) Episode 32: AI and Its Impact
(02:14) Personal Updates and Vacation Plans
(02:33) Music and Food: Weekly Highlights
(03:06) Exploring Toronto's Food Scene
(09:00) News You Can Use: AI and Real Estate
(10:13) The Most Viewed Property in Canada
(24:18) AI in Real Estate: Property Valuation and Pricing
(29:12) Automated Customer Service: AI and Chatbots
(33:46) Exploring the Power of AI in Cold Calling
(34:44) The Cost and Efficiency of AI in Business
(35:37) AI and the Future of Job Market
(36:46) AI in Enhancing Property Search Platforms
(40:47) AI in Smart Home Technology
(41:48) AI in Process Automation and Personalized Marketing
(50:45) The Ethical and Privacy Concerns of AI
(58:51) AI in Content Creation and Personalized Messaging
(01:08:38) The Future of AI in Real Estate

Shout Outs

Kingston 12 Patty shop – 1808 Eglinton Ave W
Aloette Go – 2362 Yonge St

Gushi (Dundas W x Bathurst) – 707 Dundas St W

Where You Can Find Us

🏡 For all your Toronto Real Estate Needs: TorontoLivings.com/

🖥️ Instagram
Mark Savel: https://www.instagram.com/torontolivings/
Joey Virgilio: https://www.instagram.com/joey_torontolivings/

In Episode 31, realtors Mark Savel and Joey Virgilio dive into the upcoming changes in the real estate industry with the introduction of the Trust in Real Estate Services Act (TRESA).

Coming into effect from December 1, 2023 these changes have significant implications for buyers, sellers, and real estate professionals alike, altering the way real estate transactions are handled, especially within bidding wars.

The duo also discuss their personal experiences and opinions on these changes and their potential impacts. The episode is sprinkled with fun banter and anecdotes, giving listeners an insight not just into the world of Toronto real estate, but also into their engaging working relationship.

(00:00) Introduction and Episode Overview

(00:45) Meet the Hosts: Mark and Joey

(01:55) Personal Updates and Birthday Celebrations

(02:42) How Was Your Week, Where Did You Eat?

(04:40) Birthday Surprises and Toronto Maple Leafs Game

(08:56) Transition to Main Topic: Changes in Real Estate Regulations

(11:17) Discussion on New Real Estate Regulations: TRESA

(15:46) Impact of TRESA on Multiple Offers and Bidding Wars

(21:50) Market Strategy and Client Choice

(23:47) The Impact Of TRESA on Prices

(24:35) Coffee Break and Casual Chat

(25:09) Designated Representation

(25:24) Understanding Multiple Representation

(28:59) The Shift to Designated Representation

(32:29) The Concept of Self-Represented Party

(39:12) The Impact of Changes in the Real Estate Industry

(41:51) Closing Remarks and Shout-Outs

Where You Can Find Us

🏡 For all your Toronto Real Estate Needs:

New Home Page 2023

🖥️ Instagram

Mark Savel: https://www.instagram.com/torontolivings/

Joey Virgilio: https://www.instagram.com/joey_torontolivings/

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