ASSIGNMENT 5 Prepare a consultation letter on how the AI is “disrupting” the real estate market
Introduction - Background
You are approached from an international real estate brand (70% of income real estate and 30% of the income valuations the last decade. It appears that the BoD of the firm is worrying that Augmented and Virtual Reality as well as AVMs and property portals will affect the existing way they operate. Write a letter of advising your client about the changes they have to consider in the way they operate.
Assignment Tasks
1. Literature Review:
o Conduct a thorough literature review on AR, VR, AVMs, and property portals.
o Discuss the current state of these technologies and their application in real estate.
o Highlight key findings from recent academic and industry research.
2. Case Studies:
o Identify and analyze at least two case studies where real estate firms have successfully implemented AR, VR, AVMs, or property portals.
o Discuss the outcomes, challenges faced, and lessons learned from these implementations.
3. Stakeholder Analysis:
o Identify and analyze the impact of these technologies on various stakeholders, including real estate firms, buyers, sellers, investors, and regulatory bodies.
o Assess how these stakeholders benefit from or are challenged by the integration of these technologies.
4. Strategic Recommendations:
o Based on your analysis, propose strategic recommendations for real estate firms to adapt to the evolving technological landscape.
o Discuss the steps firms should take to effectively integrate these technologies into their valuation and transaction processes.
5. Presentation:
o Prepare a professional presentation summarizing your findings and recommendations.
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