RealtyAds Touts AI's Current Role in Leasing
Amid recent stock declines for major commercial real estate firms, RealtyAds issued a statement clarifying that purpose-built AI is already being used "on the leasing floor." The company aimed to counter market fears that AI is a future disruption, positioning it instead as a present-day tool for leasing teams.
- The market volatility referenced in the statement included a historic two-day selloff for commercial real estate firms in mid-February 2026. CBRE Group Inc. shares fell by 20%, its worst decline since 2020, while Jones Lang LaSalle Inc. (JLL) dropped by nearly 11% and Cushman & Wakefield by up to 12%. - This investor anxiety was largely attributed to fears that new AI tools from startups like Anthropic, creator of the chatbot Claude, could automate many office-based jobs, thereby reducing long-term demand for physical office space. - In its clarification, RealtyAds CEO Trevor Marticke stated, "Not all AI is designed to replace people," noting the company's platform was concurrently running over 10,000 leasing campaigns across 125 markets. - Beyond advertising, AI is being implemented in multifamily properties through chatbots for initial leasing inquiries, automated maintenance request systems, and enterprise tools that allow staff to quickly query institutional knowledge from past projects and lease templates. - RealtyAds specifies that its AI processes millions of data points from over 100 sources daily to target advertising, optimizing ad spend across channels like Google and LinkedIn to reach specific audiences such as brokers and high-value corporate tenants. - The downtown Chicago multifamily market saw average rents climb to $3.70 per square foot at the end of 2025, a 6.4% year-over-year increase, while overall market occupancy held strong at 95.0%. - Your direct competitor, the Millie on Michigan apartment tower, was 96% leased when it was sold in July 2025, indicating very strong absorption for new luxury assets in the immediate area. - Looking ahead, the development pipeline for the Gold Coast/Old Town/Near North submarket includes 3,576 proposed new units, signaling a significant increase in future competition.
