Key facts
- The real estate industry's biggest problem is the lengthy wait for valuations and funding, not appraisal accuracy.
- Residential appraisals can take one to two weeks, while commercial appraisals have taken over two months.
- An AI valuation tool can produce a first-pass valuation in minutes.
- The author's company, apprAIser, separates the language model from numerical valuation output.
- The apprAIser system matches valuations with over 5,000 lending options.
The author argues that the real estate industry's primary issue is not appraisal accuracy but the significant delays in valuation and funding processes. This "wait" hinders rapid decision-making for investors, who often have to guess or risk losing deals. While AI valuation tools are debated, the author emphasizes that the core problem lies in the time-consuming first mile of the process. His company, Reidy, has developed an AI valuation engine, apprAIser, designed to provide a first-pass valuation and financing options within minutes, separating numerical output from narrative to ensure data integrity.