AI for Real Estate Agents: Pre-Qualify Buyers Before You Show | Herold Pierre

Herold Pierre (00:00)
I think AI is changing the landscape, And it’s not just in real estate, I think it’s in every field. Like things are changing, they’re changing rapidly, I remember a few years ago, I wanted to build an app, and I had to retain a developer to build that AI on my behalf. However, from

January to June of this year, I’ve become so proficient and efficient in utilizing AI, I’ve been able to build my own app individually, Just by learning and and without going to school.

Issa Hanna (02:05)
Welcome back to another episode of the Real Estate Pro Show. I’m your host, Issa Hanna, and today we have Herold Pierre, a vast wealth of knowledge and across different multiple spectrums of the real estate industry. and most recently he’s developed an AI software. Fellow realtors, you want to listen up? This AI software is huge.

Herold, welcome to the show.

Herold Pierre (02:24)
Thank you so much for inviting me. I’m glad to be back. it was I had a great time last time and I’m sure I have just as good of a good time this time as well.

Issa Hanna (02:32)
Hundred percent. Well, as a fellow realtor, AI platform you described to me, man, simply amazing because lot of realtors don’t know loan officer guidelines. we don’t have to, But you’ve developed something to where if a client calls, a buyer client calls, and I’m gonna let you take it from there for the realtors.

Herold Pierre (02:50)
so basically the app is called Underlytix u-n-d-e r l-y t i x dot com. I’ve been in the real estate field, I’ve been in real estate and mortgage space for a number of years since 2009. And and I designed the app to solve some of the bottlenecks, to fix some of the pain’s point for realtors that are in the industry.

sometime realtors out doing the showing and they need a pre-file. They need to know whether or not the client is capable of purchasing this property immediately, And maybe the LO is busy. Maybe the LO is unavailable. Maybe it’s a Saturday. It’s a holiday and the LO is just unavailable. unlike realtors, LOs only work very specific hours. And I know realtors can work up to nine, ten o’clock at night showing properties or writing contract, but most LOs they work the nine to five, the nine to six.

and off on the weekend. So their availability is a bit different. And sometimes these differences clash. the purpose of the platform, and the platform can be utilized anywhere you at, that’s nationwide, The guidelines are the guidelines. basically what it does is it incorporates all of the lending guidelines into a decision making so that when the realtor is working with a client, so they know whether or not the client is capable of purchasing the property.

that they’re looking at or if a client call and they want to see a house. they saw a house online and they want to go and see the house immediately. And it gives you at least, knowledge to understand whether or not this property that you’re getting ready to show this client if they if it’s relatively if it’s even feasible, So you’re not showing a client a million dollar property when they only qualify for $300,000 because that would waste everyone’s time.

that’s the purpose of the app. The app is the app utilizes AI, and you can prompt the app either verbally or by typing. And you just give the client, you ask the the client some preliminary information, and and you input that information into the app, and the app will render a decision whether or not the client is capable of purchasing that property. It does calculate P I T I A, so that’s principal, tax, insurance, interest, and association.

And that way is not it’s so it’s entirely different from from a calculator, That just calculate whether or not you can purchase it. Utilizes AI, look at the guidelines and look at the LTVs, the debt-to-income ratio, and then render a decision. And then that way you’re sure that your client is capable of purchasing, even before you get to the loan officer. And furthermore, if you need a loan officer, you can click submit to a lender and

It’ll submit the actual document, the information that you input directly to a lender, and the lender will be in touch with you to finalize the application with the information that you’ve already provided to the to on on the on the application.

Issa Hanna (06:21)
Man, I love that. So you have a finance degree. You were a realtor. this app was designed by literally somebody who’s done it on both sides, So you’ve seen the bottlenecks, you’ve seen the communication errors. also as a realtor, I know how important that is because, like like we said, realtors don’t have to know guidelines, So they usually don’t, but when you have a client that you could just basically pre call

And not just like you said, calculate a payment or or any of this. This thing is basically gonna pre qualify a buyer for you. You have literally an L O in your pocket now. and man, I love that.

Herold Pierre (06:54)
Absolutely. Absolutely.

I love the term, an LO in your pocket.

Issa Hanna (06:58)
Yep, you got an L O. You need some advice. You asked him, you’ve got the questions to ask, all that. and you can even send it to a loan officer for for people. Amazing. Amazing. And and a little education tip. we’re gonna take a little break from from our from our conversation. I want to give this to our people at home. There’s a difference between being pre-qualified and pre-approved, Pre approved means you sent everything to Herold, he your documents, everything you told him.

in your initial conversation is true and it all checks out and now you’re pre-approved. A pre-quall is exactly what Herold is is app is doing basically you’re you’re having a real time LO pre qualify people. it’s not a it’s not an actual LO but it’s doing it on AI based off of all the guidelines. truly unbelievable tool for real estate agents. as former buyer’s agent who sold over

250 first time homebuyers. I know how super important and how great of a tool that’s going to be, man. I want to pivot just a little bit and get some history on you. We all got into real estate, kind of stumbled into it, We did something, we made a paycheck, and we said, okay, this is the way I want to go with my life. I want to get your origin store. How did young Herold get into real estate?

Herold Pierre (08:11)
so it’s interesting. I had just graduated college, graduated I received my bachelors in finance in 2001. and later on obtained my MBA in two thousand three. Well during the time we all know how the market was in two thousand one, one, three, Market had crash. And although I had these degrees,

the prospect for employment with a finance degree in South Florida was very slim back in 2001 and 2003. wasn’t really sure what I was gonna do, the idea initially was to become a broker, become a trader, I want I had vision of moving to New York, to trade. But as luck would have it, I decided, well, while I was waiting for the market to get better and I was still applying.

I decided to just, obtain my realtor’s license. Figure it’d be something to do and it still gave me a lot of flexibility, And took me six months to eventually close on a deal, But after closing on the deal, I realized that, well, the money is really good. I just need to close much faster than six months. And if I can achieve that, then I can make a career out of this. therefore I just remain

in the industry and I’ve been in the industry ever since then, I’m just building up on some of the work that I’ve done. I’ve I had my title insurance license at one point. So I was at at my peak, I was operating real estate, a mortgage, and a title company. So I was able to to have all three licensed, Combine all three and keep everything internally primarily.

Issa Hanna (09:39)
That man, you made it easy for the buyers. You were a one-stop shop. That’s it. I love that. as somebody who had a whole team for buyers out in Chicago, I know how important it is. You got to make things easy for people, the easier you make it, the better it is, just like that app. And I want to pivot a little bit too now. Being a real estate agent is great, even when you’re a high producer, a top-level producer, it’s one of the best paying professionals.

But you always have that thing gnawing in the back of your brain, like, man, this is commission based. I gotta sell to make money. What if I don’t sell anything this month? I wanna maintain my lifestyle. and you did something that we all get into, which is rentals, So can you give us a little bit about the short term rent Your long term rentals, and then I want to talk about the approach. I want you to talk about the approach you’re taking to the short term rental game because it is a brilliant strategy.

Herold Pierre (10:28)
so excellent. So one thing I’ve done, I’m in South Florida. This is probably,

the vacation capital of the US, Everyone wants to come to Miami, we all seen the pictures, the images. want Miami. But I also understood the competition in Miami, Like South Beach areas and then a lot of those major cities, they they have bands on

Airbnbs, so I decided I would take another approach. one of the I’m not sure where I picked up the term from, but heard the term. and it’s more regarding, people that are in the medical field, people that are seeking medical treatment, they needed a long longer term stay, So I figure, well, I can make a lot more than a regular rental.

while stabilizing the income of an Airbnb, because usually Airbnb they’re short term in nature, I decided I would take a midterm approach, And that’s to I build my Airbnbs near the hotel. I’m sorry, near the hospitals. And by doing so, I was able to, I’m able to receive longer term guests, And then also better paying guests than your regular rental.

but also better quality guests as well, Because I’m not attracting the parties, I’m attracting, travel nurses, I’m attracting medical professionals, Doctors, and a lot of time people that are here for a medical procedure, And usually, with most people that are seeking medical procedure, they have to remain in place for a period of time after that procedure, So these are the type of people that are attract in my Airbnbs, and that’s

helped out tremendously, So I don’t have the major gap where, the unit is vacant. so I don’t experience, my occupancy rate is probably at eighty five percent, which is great, so that’s, so the approach is a little different as it related to the Airbnb.

Issa Hanna (12:51)
Genius approach. And it comes through years of knowledge in the game, So like I said, a realtor on one side, a loan officer on the other side. It’s all commission based. You start thinking I gotta guarantee some money. but you’re so knowledgeable in the game that to take that approach. and people at home, this is an amazing short-term rental approach. I joked with Herold. I said having a couple of those is like having four normal rentals, because you’re gonna make double the money.

You’re not gonna have as much headache. and wow, fifteen percent eighty-five percent occupancy on short-term rentals, amazing, man. I am truly, truly impressive. wanna look to the future now. You got this app cooking up, you’ve got another app cooking up too. you’re in the rental game, so you’re knee deep in the real estate game, Knee deep. five years. I look you up. Herold Pierre, five years down the line. Where am I gonna see you at?

Herold Pierre (13:38)
I think AI is changing the landscape, and it’s not just in real estate, I think it’s in every field. Like things are changing, they’re changing rapidly, I remember a few years ago, I wanted to build an app, and I had to retain a developer to build that AI on my behalf. However, from

January to June of this year, I’ve become so proficient and efficient in utilizing AI, I’ve been able to build my own app individually, Just by learning and and without going to school.

no additional education, YouTube university, I was able to amass enough knowledge off of YouTube and through a lot of errors on my end, was able to build

to successful app. We mentioned earlier the Tradolux. I’m sorry, we mentioned earlier the analytics, which is great for realtors and investors and lenders. And I also done a lot of trading individually. the other app is Tradolux, T-R-A-D-O-L-U-X dot com, tradolux.com. So basically it’s an app,

for people that trade, whether you day trade, you swing trade, whether you purchase options. what the app enables you to do, a lot of time, some of all my traders, we know that trading can get very impulsive, And even though we look at the charts, we have the knowledge, we’re able to read it. And then when it’s time to make a decision, we make an impulsive decision and leave and live to regret it, So what the app does, the app curtails all of that, The app we have five different individual AI that are constantly

watching the market movement, And and the AI is smart enough to read the chart on your behalf, read the stock on your behalf. And based on the movement, it can it it can better predict, the most likely scenario for the stock, Within the next minute or two minutes, wherever, whichever chart you’re using. So you select the chart and based on the chart that you select, you conduct an instant analysis and the AI is able to read the chart and based on the chart,

it’s able to analyze and determine where it’s more most likely to go with roughly 70% confidence, that app is doing very well. And I think that’s a tremendous app. And that comes from years of experience and also losses, Because if you trade long enough, you understand, you will make those mistakes. your options will expire. So

I think the market as a whole, I think, I share this with you guys because I think it’s also indicative of where the market is going, Someone with a finance real estate background can now pivot, utilize their finance and real estate experience to build an app that fixed the bottleneck in both industries. I think this is where the market is trending to, it’s workflow, How do you how do you make workflow more efficient? How do you fix bottlenecks that’s in your industry?

So whatever industry you’re in, whether it’s real estate or other, if you can fix some of those bottlenecks, I think, that’s where the opportunities lies going forward.

Issa Hanna (16:19)
One hundred percent. and it’s not just in the real estate space. I feel like now we’re in a time where it’s like the industrial revolution, like the Nikolai Tesla’s tinkering around with inventions. This is AI, and when you embrace AI like you did, it’s like a creativity calculator, So you’re one of the you went to YouTube university, it was that easy for for anybody to do, but you had the drive to go out and learn how to how to put it together and you came out with something

Tradolux and Underlytix, amazing because the great inventors and now AI, you guys are the inventors in our world, You’re inventing things. It’s a creativity calculator for you. You’ve been able to solve two huge problems and the great inventors are always the ones that know how to solve big problems. So man, I see huge things in your future. I don’t doubt on Tradolux is doing amazing.

You’ve got a L O in your pocket and if you got a you got an advisor in your pocket too. amazing, man. Amazing stuff. I love it. but I wanna get your advice now for our young guys, I know a lot of people are gonna watch this. Your second time on the show. you always bring so much knowledge to us. I want you to give them some advice on business relationships, growing your network, ’cause it’s super, super important to know people in our business. Absolutely.

Absolutely.

Herold Pierre (17:30)
Well, what you just mentioned, so I’ll say this. Now, building tra building Underlytix, as well as building tradolux, the one thing I knew, I had established myself in those respective fields, Where once the app was ready, I knew where to take it to, I knew who to go to, So as far as the analytics, I knew that the years of

network and engagement and relationship that I have built in the real estate space. I knew I can go to these real estate offices and offer them the app, to get them to onboard. with Tradolux, I know a lot of investors, a lot of traders, that I had built relationship with, whether it was on a trading platform or whether it was on online, on trading group. I knew I can take the app to those traders as well.

Allow them to utilize that the app. I think that, although AI is allowing us to do much more, to be much more efficient, much more productive, However, I think at the end of the day, everything comes down to the relationship that you’ve built, The reputation that you have. And the better those relationships, the better the reputation is, You’re able to then

When you have a platform, when you build something, where you can take it to because now, you have familiarity, imagine if I’ve called when I when we call real estate companies that we don’t have a current relationship with, it’s work to get into their office to present the app. Whereas when I go to a realtor to a broker, if I call a broker that I know, hey, I’m already credible because they have a relationship with me,

it’s that easy, So I’ve been on many many offices as a result of those experiences and those relationships. So I think, in the end, AI would never will never be able to replace the human aspect of things, The relationship that you’ve built, AI doesn’t build relationships. That’s not what it does. It’s great at what it does, it builds things, But not relationships.

the relationship that you have with people, the way you engage people, the knowledge that you still possess. So AI is not a replacement of knowledge, It’s knowledgeable, but not a not a replacement of it. I think those things are what propel forward, even when you utilizing AI.

Issa Hanna (19:34)
Hundred percent. Guys, there’s a bunch of real estate agents. There’s a bunch of different AI platforms, The difference is a real estate agent that makes those connections that that puts his face out there for people to see that’s out there building their reputation with integrity. people think pleasantly, it goes a lot longer of a way and AI cannot replace that human touch. AI is a systems thing,

You create systems with AI, it helps you boost your productivity. That human touch, that’s the whole thing. Why being a real estate agent, a loan officer, anything like that exists is because people want to deal with somebody they could trust and they’re not gonna so we’re far away from people trusting AI to just handle their home purchases,

Herold Pierre (20:14)
Have

Issa Hanna (20:14)
Absolutely.

man, Herold, I’m loving it today. it’s just great advice for everybody. So much knowledge, so many problems solved with the apps that you created. So now I know some of the viewers at home are gonna get, they want to know where to find this at. They want to know where to find Tradolux. They want to know to find Underlytix. So I’m gonna let you give it to them. Where can they find you guys at?

Herold Pierre (20:34)
Sure. So for both app you just go to their respective website. So analytics is un d-e-r-l-y-t-i-x.com, Underlytix.com. and we also provided a 14-day grace period where you can utilize the app. get used to it, get proficient at it. It’s super, super easy to use. There’s nothing complicated about the app. Once you create an account,

whether it’s an investment account, which and we spoke about primarily the realtors using utilizing the app. However, there’s another part for investors as well, So people that fix and flip, me mind you, my background is also in investment purchasing properties. for the people that fix and flip, the people that fix and hold, people that want to buy investment properties, whether it’s residential or commercial, the app is able to analyze able to analyze those

those properties and determine whether or not these properties have the potential to be profitable. The app also assess, the areas to determine the value, the price of these properties. after repair value, if you want to do an add-on to the property, whether or not the add-on will be profitable by adding the property by adding an additional room or a bedroom or a room or whatever the space may be.

the app is excellent for investors as well, help investors determine whether or not a purchase their offer makes sense. And then they can they too can also submit to submit the document to a loan officer to receive a call from a lender, that’s on the platform. the app is super, super easy for both investors and

real estate agents, Now for Tradolux, Tradolux, it’s designed to be to work in the advisory capacity. So you cannot trade on Tradolux. Tradolux does not execute any trade, what Tradolux does is that it’s similar to a Trade In View, a lot of people that invest very familiar with Trade in View that trade stocks. you use Trade in View to

For news, So we also have news like and also, but what we’ve done is we incorporate the five AI agents, each being trained in different aspects of the market, The market sentiment, market news, like when the Fed meets and how those things could put can affect, the trajectory of a stock, We know the this Iran war, How much it’s caused a lot of volatility in the stock market recently,

each individual AI assess its respective area and make a determination bay and then they and then they work collectively, to determine whether or not where the market can is likely to go. Now keep in mind with all things, These are not market predictors, instead of you reading the chart,

And trying to read the news, trying to read the chart, and trying to make a determination where the market is likely to go. The AI is doing that on your behalf at a much faster pace and rendering quicker decision. And it’s reading those things based on the exact information, Like so the last five minutes, this trade has done, this trade has been bullish, and this trade is potentially oversold. This stock is potentially oversold, or is undersold.

It’s utilizing that information to render a decision of the likely the likely route in the next minute or five minutes and things of that nature. Not executing a trade for you on your behalf, But the advisory is almost it’s like having an advisor telling you, helping you as you trade. And that’s the benefit of Tradolux. So you visit TraderLux.com.

for the stock app and analytics.com for the real estate app. and you if nothing else, they both have the fortune trial period, try them out. Give them a shot, see how they work for you. Guarantee you’ll be impressed with the end result and the information that you receive from both sites.

Issa Hanna (24:08)
Guys, make sure you go to Underlytix.com. Make sure you go to TraderLux.com. a loan officer and a financial advisor in your pocket. real time opinions based on the facts with Tradolux. amazing. I know a lot of a lot of day trader friends that I got would love to have a opinionated, an opinion on on one of their day trades in real time. amazing, amazing stuff.

Truly amazing how you’ve come up with that. built it in your own image from your own knowledge. Herold, amazing, man. I would like thank you so much for coming on the show. It was a true honor to have you again. And keep it coming. maybe in a few months. I want to check the progress of this because these are truly revolutionary apps, and I think they can make bring so much to both different markets that you’re in.

Herold Pierre (24:52)
All right. Thank you so much. It’s been a pleasure to be here and I look forward to seeing you guys soon.

Issa Hanna (24:58)
Thanks, man. I enjoyed our conversation and to our viewers at home. you enjoyed my conversation with Herold and want to see more like it, make sure to hit like and subscribe. I talk to people every day that could bring us different knowledge on every aspect of the real estate industry. Until next time, the Real Estate Pros are out.