1368: Why 70% of Real Estate Deals Will Be Done by AI Next Year with Patrick Palzkill

Most agents who talk about AI reshaping real estate are brand new to the business. Patrick Palzkill is not. He got his broker’s license in 1985, spent 25 years in mortgages running New England for the largest mortgage company in the country, and has sold hundreds of homes on Boston’s South Shore. Now he’s written a book called The Real Estate Revolution, and he’s making some bold predictions. In this episode, you’ll discover why Patrick believes 70% of real estate deals could be done by AI by the end of next year, why he says we’ve all been “brainwashed” into thinking a 30-year mortgage is the only option, and how a 3% mortgage rate could be funded state by state without the Fed, Fannie, Freddie, or the 50 people who currently touch every loan. Patrick walks through what actually happens when you strip the friction out of a transaction: AI pricing, satellite-based title, standard contracts a consumer fills out online, and a lot of people in the industry taking a haircut. I push back on a few of these ideas, including the uncomfortable truth that buyers will always buy the biggest house they can qualify for, and we get into what happens to the hundreds of thousands of jobs tied to the old way of doing things. Whether you think Patrick’s vision is a utopia or a fantasy, the cost of a transaction is coming down, and the agents who understand why will be the ones left standing. Are you building a carriage, or are you ready to drive the car?

Listen to today’s show and learn:

Introduction to Patrick Palzkill [00:00]
Why Everybody Needs a Place to Live [01:35]
“We’ve Been Brainwashed”: The Case for a 3% Mortgage [05:19]
Who Takes a Haircut When Transaction Costs Drop [09:42]
Pocket Listings, AI Pricing, and the One-Click Contract [11:58]
70% of Deals by AI: Title, Surveys, and E-Signatures [20:09]
A Fair Fight: AI, Jobs, and the Future of Homeownership [25:58]
Why Should a War Raise Your Mortgage Rate? [31:45]
Cutting Property Taxes by 90% [33:55]
Plus so much more!

Patrick Palzkill

Patrick Palzkill is a Massachusetts real estate broker, author, and speaker with more than 35 years of experience across real estate, mortgage, and financial services. He earned his broker’s license in 1985 in Madison, Wisconsin, and has lived in Norwell, Massachusetts, just south of Boston, for the past 30 years, where he and his wife raised their four children.

Patrick is the Broker of Record at Beacon Rock Realty Services, serving Massachusetts, Cape Cod, and the islands. Over his career he has sold hundreds of homes and helped finance billions of dollars in mortgages, including 25 years on the mortgage side running New England for one of the largest mortgage companies in the country.

He is the author of Real Estate Revolution: How AI, New NAR Rules, & Market Shifts Are Reshaping Real Estate, a guide to how artificial intelligence, the new commission rules, and shifting market conditions are changing the way homes are bought, sold, and financed. The book grew out of his master’s thesis on land use policy and lays out roughly seven changes he believes could make debt-free homeownership realistic for more Americans. Patrick also speaks and trains on AI in real estate, the new NAR rules, and negotiation strategy.

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-Aaron Amuchastegui