Abstract:

Artificial Intelligence (AI) is evolving rapidly; however, the Real Estate Industry is slow to adopt AI Technologies. From the Real Estate point of view, Artificial Intelligence may be defined as utilization of computing methodologies upon real estate related data, providing insight into patters or trends of real estate sales prices beyond human cognitive capabilities. In this publication, the basics of Real Estate types, their corresponding recording processes, and data cleaning in preparation for AI modelling are discussed. Data from low-cost reliable source will enable results that will build confidence in utilization of emerging AI. The Dataset selected for this analysis is obtained from the public records of the Palm Beach County Property Appraiser’s website. Palm Beach County is in the State of Florida, USA. Here, all real estate transactions are recorded with the Public Property Appraiser. This data is available to the public, thus providing a reliable low, or no cost dataset. A method to gather, clean, and process this data for analysis for an AI model is discuss.

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