Why AI won't replace your realtor: a 33-year veteran breaks down the truth

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Summary

Today, I’m thrilled to welcome Steve Crossland, a veteran of the real estate trenches with over 33 years of experience buying and selling homes - all of it in Austin Texas. If there’s anyone who knows the pulse of this industry here —through booms, busts, and tech waves—it’s Steve.

In this episode, we will peel back the glossy veneer of AI-powered real estate revolutions and get to the core of what actually sells a home in 2024. Has technology really rewritten the rules of the game, or are we just dressing up age-old truths in new digital clothes? From virtual tours to Zillow, and now the promises of AI, Steve brings a rare, grounded perspective: the view from someone who’s been there, through every innovation and every market shift.

But this isn’t just a technology conversation. It’s a look at the human side of real estate—the relationships, instincts, and trust that no algorithm can replace. Along the way, we’ll tackle big questions: Are AI tools a genuine game-changer or just the latest buzzword? What’s the one thing sellers always overlook? And what should buyers really focus on in an age of information overload?

So whether you’re a seasoned pro, a curious buyer, or just someone intrigued by how technology shapes our everyday lives, you won’t want to miss this one. And for those folks who are considering moving to Austin, listen up.

Key Points:

1. The fundamental process of selling homes hasn't changed - buyers still need to physically view properties and emotionally connect with them

2. Home sales typically require about 15 showings before getting an offer (based on NAR research)

3. AI and technology serve as tools but haven't disrupted core real estate processes

4. AI is good at macro-level analysis but can't accurately predict individual home values due to unique property characteristics and buyer emotions

5. Current automated valuation models are limited in accuracy, especially in non-homogeneous neighborhoods

6. The human element remains crucial - understanding neighborhood nuances, buyer psychology, and market trends requires experience

7. AI tools are being used for practical tasks like newsletter creation and data analysis, but not for core decision-making

8. Austin market specifics: expecting a leveling out in 2024, with slight improvements in 2025

9. Real estate is fundamentally a matching operation - matching buyers with homes and clients with appropriate agents

10. The industry is resistant to rapid change, moving slowly compared to tech companies

11. Current market challenges include high unsold listing rates (over 40%) and seller reluctance to reduce prices

12. Real estate agent quality varies significantly despite low barriers to entry - be careful who you pick

13. Consumer access to realtor performance data is limited, making it difficult to choose the right agent