MILLION Luxury bets on AI to compete with mega brokerages

As so much of the real estate industry focuses on the massive wave of consolidation the space has experienced over the past 18 months, one brokerage believes the key to allowing independent brokerages to continue to compete with these mega firms is artificial intelligence. For Miami-based ultra-luxury focused firm MILLION Luxury, AI is a way for the firm and other independents to further excel at what they say sets them apart from mega brokerages, build relationships, provide custom tailored service and create strategies for buyers and sellers based on high level local expertise. “We do not believe we need to become the largest brokerage to compete. We need to be the best in the segment we choose to serve,” Andrés Muñoz, the CEO and founder of MILLION Luxury, told HousingWire. “We are not trying to simultaneously become a rental company, a mass-market residential brokerage or a national brokerage operating in every category. That focus allows us to go much deeper.” When he founded MILLION in 2015, Muñoz said he was focused on the very specific idea of using technology and digital marketing to build a brokerage focused on selling properties above $1 million in South Florida. “Consol...