In the commercial real estate (CRE) market, like in most other spaces in our society, artificial intelligence adoption has become part of the mainstream.
But when it comes down to influencing real CRE decisions, only a handful of commercial professionals are fully trusting AI, according to a joint study released Tuesday by First American Data & Analytics and DealGround.
While 65.9% use AI weekly or daily, just 5.1% of respondents say they fully trust it for actual decision-making. The companies state that the findings “point to a clear market gap: AI adoption is accelerating, but trust remains the barrier between experimentation and workflow transformation.”
According to those who responded, AI tools are used by 53% for support only, excluding it from decision-making. With heavy verification, 17% say they would use it.
Matt Key, vice president of property data at First American Data & Analytics, stated in a press release accompanying the report that “AI adoption in CRE is no longer the question — trust is.”
The survey results showed AI use is being used in “lower-risk workflows,” with the top usage in market research/comps, lease abstracting/document review and marketing content.
“The industry is not struggling with whether to adopt AI — it is struggling with how to use it effectively,” stated Key. “That is where high-quality data becomes critical. AI is only as powerful as the data behind it, and unlocking real value in CRE will depend on delivering accurate, transparent and actionable insights professionals can trust.”
DealGround, a market intelligence platform, serves the top 15 CRE brokerage firms nationwide. Dan Mosher, its CEO and co-founder, described CRE professionals’ use of AI as not resisting it, but “pressure-testing” it.
“Brokers will adopt tools that fit how they actually work, but they will not stake a deal on outputs they don’t trust,” Mosher commented. “The next phase of AI in CRE will go beyond answering questions to help professionals execute inside real workflows.”
The survey results showed senior decision-makers — those with titles of vice president or above — are the most active users of AI, with 75.9% using it daily or weekly.
The survey was conducted between March 31 and April 8. There were 255 qualified responses across brokerage, lending and capital markets, development and asset management.
