HousingWire asked past Tech Trendsetter honorees about the biggest tech transformations they’ve witnessed and where companies in mortgage and real estate should focus their energy in 2024. Their unanimous answer: artificial intelligence (AI) is revolutionizing how the industry works, from boosting productivity to streamlining operations.

Dive into their insights on how AI is reshaping the future of mortgage and real estate.

What has been the most surprising tech transformation that you have seen in recent years?

• “AI has been up and coming for a while, but it seems like suddenly, several tools have AI capabilities embedded now and they are very easy to use. AI is extremely useful and is helping to speed up our ability to complete our work faster. These AI tools help to get rid of the mundane things that we are used to doing manually, such as writing emails, taking meeting minutes and action items, generating test plans, automating test cases, and even creating AI-generated code. Because we are saving time on these mundane tasks, we have more time to think outside the box to tap into [solutions for] more complex problems. As an engineer, this is inspiring me to learn more and have fun along the way!”  — Shelli Girard, Vice President, Software Development, Sagent

• “Without a doubt, the most surprising tech transformation in recent years has been the rapid advancement and widespread adoption of AI. AI has revolutionized not just real estate, but virtually every aspect of our lives. It has transformed how we think, work, and conduct business. What’s truly exciting is that we are still in the early stages of this technological evolution, and the potential for future innovation is immense.” — Lindsay Listanski, National Vice President of Marketing, Coldwell Banker Realty

Where would you advise clients and colleagues to focus their tech resources as we navigate the second half of 2024?

• “I suggest going all in on AI. We’ve seen the output of some teams increase by 30% to 50% and have been able to scale the business without adding a lot of headcount. Customer support, marketing, and lead nurturing are great places to start.” — Malte Kramer, Founder and CEO, Luxury Presence

• “Instead of waiting for AI solutions or AI features to get launched by technology providers in the real estate space, firms should be doing immediate research on the AI tools available now. Existing tools can interact with their existing systems to do more with what they already have. By doing so, firms don’t need to change systems which is costly and time consuming and they will truly differentiate themselves in their market. They will see immediate benefits from increased productivity.” — Michael Minard, CEO/Owner, Delta Media Group, Inc.

Nominations for the 2024 Tech Trendsetters award are open now through September 30, 2024. Click here to nominate.