Season 1, Episode 5: In this episode of "No Cap by CRE Daily," we sit down with Michael Mandel, a former broker and the visionary founder of CompStak, to dive into the power of data and AI in the commercial real estate industry. Michael shares his journey as a broker and the issues he encountered that led him to build CompStak. We also discuss how AI and machine learning are revolutionizing data collection, analysis, and utilization in the CRE industry. 

TOPICS

0:31 — Introduction

6:55 — How Compstak incorporated AI & machine learning tech into their stack

11:31 — Making brokers' lives easier using technology

13:40 — How the data verification process works

17:31 — The scoring and credit system to incentivize people to contribute data

18:05 — What will the actual effects of AI be on the real estate market?

22:46 — Pet peeves as a broker

24:59 — AI tools for architecture

28:34 — New insights into client data

30:11 — Are we going to be “owned” by AI?

33:10 — Jack & ChatGPT 

35:53 — What are use cases of AI & what’s the effect of deep fakes?

37:15 — Will the vast majority of real estate jobs be automated?

42:50 — Conclusion

We want to thank our sponsor Viking Capital. 

For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/

About Our Guest

Michael Mandel

https://www.linkedin.com/in/mmandel/

Michael is the Co-Founder & CEO of CompStak, a marketplace for commercial real estate information. CompStak uses a crowd-sourced model to gather real information that is hard to find, difficult to compile or otherwise unavailable. Our first product is a marketplace for the exchange of commercial lease comparables. Users add the comps they have to find the comps they need. CompStak was born out of Michael's experience as a commercial leasing broker in Manhattan. He has been recognized for his success as Grubb & Ellis’ National Rookie of the Year in 2007 and Real Estate New York’s 30 under 30 in 2008. CompStak has been featured in The Wall Street Journal, The Real Deal, Forbes, Bloomberg, AG Beat and more.

About No Cap Podcast

Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.

About CRE Daily 

CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.