First Draft Live: CEO of Matthews Kyle Matthews — Brokerages vs. AI

This episode of First Draft Live is presented by Agora.

The meteoric rise of artificial intelligence has impacted every industry, including the notoriously tech-adverse commercial real estate world.
Scores of new AI-driven tools have left brokers sweating over their commissions and wondering if they will be replaced by software that can automate underwriting and surface buyers instantly. And shareholders have been ditching their brokerage stock over concerns the entire business model is at risk. Are their fears overblown, or should brokers be preparing themselves for a future where AI could take their jobs?
Both can be true, Kyle Matthews, CEO of Matthews CRE, said on this week’s episode.
“I absolutely think there is an overreaction happening,” Matthews said. “And I think there are 100% vulnerabilities, and the nature and the shape of how these services are performed in the next three, five and 10 years, fundamentally, will change.”