Real estate brokerages have begun embracing artificial intelligence. While 24.8% of brokerages reported not using AI just two years ago, in 2026, this percentage has dropped significantly to 3.9%.

Commercial real estate brokerage Lee & Associates has been integrating AI into its operations and professional development.

CEO Jeff Rinkov refers to AI as the “Industrial Revolution for information” and one of the most significant productivity developments in CRE.

“There is a tremendous upside, and the winners are going to be the firms that combine technology with judgment and relationships," he said. “It can dramatically improve how quickly and effectively our brokers are analyzing information, which we use to serve our investor clients and help them enhance outcomes.”

Some employees are feeling anxious about AI replacing them. Rinkov said that although this sentiment is valid, he hasn’t heard it much in CRE. Adopting AI is about intensifying people’s work, not replacing them.

The opportunity for brokers is being able to gather a larger volume of quality data quickly and use their market knowledge to confirm data and drive conclusions, he said. AI can also help identify key trends in local markets, as well as nationally, before they happen. All of these use cases help bring value to clients and impact their decision-making for their portfolios. 

One aspect of using AI properly is understanding how to create an AI agent that will handle and analyze large datasets around lease comparables, absorption numbers, ownership records and demographic data. The size of this data typically makes it difficult to incorporate into a spreadsheet or fit into a model, Rinkov said.  

For Lee & Associates, these analytics, combined with a broker’s insight and historical data, can be used to find opportunities in the market and advise clients on which ones meet their specific criteria and allow them to exceed their objectives.

Rinkov said that while AI can help accelerate work and elevate the quality of analysis, a broker ultimately needs to have institutional knowledge, solid judgment and a strong rapport with clients to be successful. Once the research is done and data is compiled, then the human element takes over to deliver strong results to clients. 

Using its proprietary AI platform, Leo, Lee & Associates professionals are accelerating workflows rapidly and effectively serving its clients’ needs, he said.

“Intensifying work doesn't mean replacing it,” Rinkov said. “It means working faster, better and smarter. AI will provide more information and create efficiencies, but trust, experience, creativity and individual accountability are going to be the ways that professionals distinguish themselves in CRE.” 

He added that the alternative is reduced productivity. If brokers are spending too much time on mundane administrative tasks, it could impact how they service their clients and, in turn, how they fare against their competitors.

It can also impact hiring. To attract younger, more educated talent, firms need to have an AI vision and implementation plan, Rinkov said.

Lee & Associates has both, he said. In addition to brokers, the firm’s departments, including research, property and facilities management, communications, and marketing and events, are working together to integrate AI into their workflows. When it comes to AI, the goal is to allow the brokerage and its employees to intensify their work, not reduce headcount.

The firm has also put together an AI advisory committee that is led by the firm’s chief technology officer and comprises eight professionals from different departments. The team meets regularly to determine each department’s needs and goals and how AI tools can address them. This committee brings this feedback to Lee’s executive team.

Additionally, Lee & Associates has developed clear policies around AI usage to hedge against potential security risks. The brokerage uses an approved enterprise system and has a group of principal-level brokers that examine, verify and, in some cases, correct output.

Rinkov’s advice is to be aware of this technology’s limits. While AI can be a helpful assistant, it is also capable of hallucinations and inaccuracies and thereby needs human intervention.

Lee & Associates regularly trains employees on privacy, security and the importance of fact-checking. Its training platform, Lee University, will be dedicated to AI in the fourth quarter.

Having ongoing education and transparency around AI internally not only fosters a secure workplace but also helps bring good results to clients, thereby strengthening relationships, Rinkov said.

“Better training leads to better inputs, which will get better outputs and deliver better information to our clients,” he said. “Our goal is to make people better at what they already do.”

This article was produced in collaboration between Lee & Associates and Studio B. Bisnow news staff was not involved in the production of this content.

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