Unlocking AIs Power: 5 Ways It Transforms Real Estate Today

Dylan Silver (00:00.49)
Hey folks, welcome back to the show. I’m your host Dylan Silver and today on the show my guest is Nick Krem out of beautiful Cleveland, Ohio co-founder of the Krem Institute of Artificial Intelligence and creator of the world’s first AI certified agent. Nick, welcome to the show.

Nick Krem (00:20.524)
Man, I’m glad to be here, Dylan. Just excited, you know, just to keep spreading the message and love what you guys do. So of course, you know, love getting out here with you.

Dylan Silver (00:29.096)
So man, I normally before I hop on here, I go into more of a spiel about what the show is about, but I got such a good vibe with you. was like, let’s just dive right in here. And the AI frightens a lot of people, I think specifically in the real estate space, but also there’s so much innovation. I have so many questions. I think starting off at the top, how did you get into the AI space?

Nick Krem (00:36.022)
Okay, yeah. Let’s go.

Nick Krem (00:43.448)
Yeah.

Nick Krem (00:54.414)
Yeah, you know, so it’s funny. My brother and I, we had a content company. We had it for years. people on our team, our staff kept coming to us. And our staff was actually the one to show it to us. They’re like, hey, did you know we can start doing this? Hey, did you know we can start editing videos with this tool, creating the content with this tool? And in about a couple weeks, we replaced over 80 % of our staff.

It was a hard day because we had to say like, we got to let you go. But we replaced 80 % of our staff with these different AI tools and increased our output as a company. And I looked at my brown like, this was the, a month after chat GPT came out. So was that 2022?

Dylan Silver (01:26.718)
What year was this?

Dylan Silver (01:32.872)
Okay, 22.

Nick Krem (01:35.118)
Yeah, I think it was 22. Yeah, it was like December 2021 and 22. So it was like right when it came out and we just looked at this and holy shit, if we don’t make an adjustment, we’re going to be put out of business. And there’s a lot of our people and clients will be put out of business without this too. So we made the adjustment and powered our entire company using AI. And now we just made the transition to help real estate agents power their companies using AI as well.

Dylan Silver (01:39.466)
Okay.

Dylan Silver (01:57.118)
What was your company involved in at that point in time?

Nick Krem (02:01.09)
We have been strictly real estate from the beginning. So we’ve been strictly real estate for the beginning. At that time, we had a content house. So was like a seven bedroom content house in Orlando, Florida. And we turned the entire thing to a giant video studio. And people would fly from all over the country to come shoot content. And then we’d send it to our video editing team, copywriting team, and just create a bunch of content for them in that like one or two day period of time.

Dylan Silver (02:03.485)
Okay.

Dylan Silver (02:15.935)
Yeah.

Dylan Silver (02:23.164)
all you have to do is say Florida. But you’re in Cleveland now. But Florida is my spiritual home. That’s where I would love to live one day. I’ve said this another podcast, I went to Fort Lauderdale handful of times most recently in February on a connecting flight back from Santo Domingo. And it was so beautiful in Fort Lauderdale. was like, this is where I’m going to live. I don’t know how I’m going to figure it out.

Nick Krem (02:40.622)
You

Nick Krem (02:46.158)
Yeah. Man, I hear you. We spent a year in Sarasota and it’s just beautiful there, man. You know, part of me was like, man, I wasn’t taking any vacations or trips places because I’m like, where am I going to go that that that’s that much better than this? Yeah.

Dylan Silver (02:52.67)
Ha ha ha

Dylan Silver (02:59.794)
nicer than this. You know, the thing about it, Nick, is when it’s constantly warm outside, you walk outside, it’s another beautiful day. You know, you’re like in shorts, you got your flip flops, you’re like, this is life right now. Everyone’s a little bit happier. Like they’re in the spot where you have people that are a little bit older with money too. So they’re like giving you the game. Like I’m out there chopping it up with people talking about like real estate acquisitions.

Nick Krem (03:15.564)
Yeah.

Nick Krem (03:22.579)
Yeah.

Dylan Silver (03:29.128)
and they’re, you know, an attorney giving me their perspective of things. Like, it’s just, where else would you have these conversations just regularly?

Nick Krem (03:29.411)
Mmm.

Nick Krem (03:37.89)
Yeah, you know, Florida’s great, especially Sarasota. was like people there just love life. You’re not living in Sarasota and angry like you’re there because you did great things in life and you’re just enjoying your time now.

Dylan Silver (03:45.673)
Yeah.

Dylan Silver (03:49.876)
So we have the AI content creation in the real estate space. And so you’re able to reduce your workforce, increase your output, go back to Cleveland, Ohio. And the next steps, what did that look like?

Nick Krem (03:53.933)
Yeah.

Nick Krem (04:07.084)
Yeah. So for us, it’s, you know, we saw, so we are like researching things online because that look, the reality with AI is there’s literally a million ways you can use this. There are so many ways you can utilize that tool. So what is the exact niche and what do we do for real estate agents? So for us, we started taking a look at.

know a little bit about what we know, branding and marketing. But we saw like Harvard started coming out with AI certified engineers and we saw all these online institution institutions coming out with these certifications. So for us, we decided to come out with the AI certified agent, which was about two or three months after Chad GPT came out. So our main goal is just to help real estate agents make the transition to an AI power business. Cause I believe there’s no future in real estate without learning AI. There’s no future in the world without learning AI.

So what we do is we just simply help real estate agents make that transition So we have an entire research and development team on the back end that’s constantly checking out new tools Checking out different ways to utilize it and just creating AI efficiencies is where we focus on

Dylan Silver (05:11.548)
Okay, so let’s dive into the weeds here. AI efficiencies, right? People have seen ChatGPT, they’ve seen it. I forget which version we’re on now, 4.0, I don’t know the terminology here, but a couple months back, people got this, it was making headlines that there’s a $200 per month ChatGPT. Okay, so I don’t know what it does, but…

Nick Krem (05:14.23)
Yeah, yeah.

Nick Krem (05:24.077)
Yeah.

Nick Krem (05:31.336)
Yeah.

Dylan Silver (05:36.65)
there’s so many things that i’ve said i can’t even think of all the jokes that i made about it what is it $200 a month? of course you’ve seen the $200 a month or know about the $200 a month what is it doing that is worth $200 a month?

Nick Krem (05:47.489)
Yeah.

minus answer here, Dylan, it’s not worth it for real estate agents. Don’t buy it. Like we’ve had it and we utilize it. You can use the operator. You can use some different functions within there for real estate agents. You don’t need that. So for the people that we advise and we go through it, it’s like, can you learn how to do these things? Yeah. Can you do some pretty cool things with it? Absolutely.

Dylan Silver (05:55.038)
Really? Okay.

Nick Krem (06:11.308)
But does it get to the point where it saves you time and makes you more money? And that’s where I’d have to draw my argument and say, no, it doesn’t. It’s going to end up taking more of your time, trying to learn how to utilize these things. Cause at the end of the day, in real estate, you make money by talking to people and building better relationships. So we focus on how can you use this in a simple way that takes the tasks you were already doing and makes them quicker.

I’m not going to try and teach you something new and create a problem that you don’t have. Like, you know, some agents don’t need to figure out how to use this to help build better websites. You know, you don’t need to learn how to do all of that. So for me, it’s not worth it. Do I have it? Yeah, because I got to be studious. I got to be the one that learns these things for our agents. But that’s something where I tell them you don’t need this. So great question, though. Yeah.

Dylan Silver (07:00.394)
Do you know what the use case, what industry is seeing 200, because I’ve bought the, I forget how much it is, $20,000 month, I don’t know how much it is, but I bought the pro version. I got a lot of use out of that for so many different things. It actually, my buddy made one where it’ll help me learn to speak Spanish with a Dominican accent, because I go back and forth. So basically, if I want to type using their local Caribbean dialect,

Nick Krem (07:09.964)
Yeah.

Nick Krem (07:22.018)
Really? Yeah.

Dylan Silver (07:29.47)
Dominican Flow is what it’s called that I can now plug that in and it’ll in English and it’ll put it back out in the dialect of Spanish based on Santo Domingo mind-blowing but you know what’s the use case for the two what what industry would see a lot of use out of the $200 a month plan

Nick Krem (07:29.538)
Yeah. Yeah.

Nick Krem (07:39.564)
Yeah.

Nick Krem (07:47.95)
I would say industries that have a lot of info, like a lot of inputting of data and information will have a great use case for this. And I’m saying like vast volumes to that extent. So if you’re inputting a lot of data, mean, online marketers can have a lot of use cases on it too, because it can help you build things can help you work on the backend. But people who just have a huge influx of data would be able to get a great use out of it.

Dylan Silver (07:57.256)
Yeah. Okay.

Dylan Silver (08:11.508)
We’re seeing so much innovation, Nick, in the AI space. I’m super glad to have you on because a lot of my guests, I want to talk about it, but I think a lot of people are hesitant too because a lot of this is still in development. Like it’s changing seemingly monthly, right? One of the things that I’ve seen selfishly is that if you were to study software engineering, for instance, which is what I’m studying on the side, five years ago, it’s almost irrelevant today.

Nick Krem (08:15.011)
Yeah.

Nick Krem (08:22.446)
Yeah.

Nick Krem (08:28.216)
Yeah.

Nick Krem (08:40.398)
Yeah.

Dylan Silver (08:42.056)
because AI does so much of it. I don’t want to say it’s irrelevant, but you’re able to learn so much faster that it’s like, if you are going to learn anything in human history, now is the time to do it. You could ask Chachie P.T. about its perspective on an issue based on a historical figure. Like, what would Teddy Roosevelt say about this? Right. And so you’re able to get so many different perspectives, which leads me to

Nick Krem (08:55.864)
for sure.

Dylan Silver (09:11.39)
Where do you see this influencing real estate in the next maybe six months, year? Where do you see AI making this ripe for innovation in real estate in general? Or is that, you know, no one really knows?

Nick Krem (09:21.784)
Yeah.

I would say five years is a tough guess because at that point it’s just a guess five years it’s a guess what I would say is a year out. Yeah. So what I’m seeing some companies that are doing right now that I’m really really excited for because this is going to help producing agents. There’s actually a place I’ll even give him a shout out on here too that I actually when I flew out to Seattle to visit my sister they just so happen to be based in Seattle. So I went in there and saw you know the makeup of what they’re working on. House whisper dot a.

Dylan Silver (09:29.384)
or what about a year out?

Nick Krem (09:53.984)
house whisper AI bro, it literally brings your CRM to life. Right? So like if you’re calling all of the time and it’s only working in some serums now they plan on rolling out to more, but it takes notes for you as you’re calling it, dispositions them based on the call that you have takes your notes. adds tasks for you while you’re on the call.

They’re working on ways where like when you go on the appointment, not working, they’ve rolled out part of this, where when you go on the appointment, it texts you before going into the appointment for different reminders, but then it also follows up with you after your appointment time. And then all you have to do, and this is what I love about what this company is doing, is you text your AI back and forth and it automatically updates your CRM. So it’s not

A lot of companies that I see make a mistake is they try and pitch you this grandiose of an AI tool. If you just spend hours and hours and hours learning how to use this tool, it’ll save you time, but it just gets more confusing. This one, you text back and forth. So it texts you and then you let it know it’s notes. It goes into the CRM. It finds the lead for you, updates it for you, and it basically brings your CRM to life. And then they’re even working on a way where you can call the CRM

Dylan Silver (10:54.15)
unbelievable.

Nick Krem (11:09.282)
and then have it on speakerphone on your appointment. And then at the end of it, it will take notes, predisposition it, set calendar reminders. And it’s like to me, that’s where for real estate agents, you make money when you talk to people, when you form relationships, you don’t make money trying to learn a bunch of new technology, but this brings it to life and almost puts you like an Ironman format. like that’s a company that I’m really, that we’re really looking at.

Dylan Silver (11:20.722)
Wow. Holy moment. Yeah.

Dylan Silver (11:32.554)
That is incredible.

Dylan Silver (11:38.41)
I’m gonna have to look into that.

Nick Krem (11:38.811)
as what makes this, what makes the real estate agent’s life easier.

Dylan Silver (11:44.468)
Have you heard about this wearable plaud? Have you heard about this one? All right, so that reminds me of plaud, but on another level. Now, plaud isn’t specific to any industry. I’ve seen and heard of a lot of medical, potentially big use case for that, because patients, so on and so forth, you’re able to see and search and do that type of deal. But with the ability to not have to go into a CRM,

Nick Krem (11:47.63)
I got it. Yeah.

Nick Krem (11:55.575)
right.

Dylan Silver (12:11.562)
Because as someone who is very process and data oriented, I’m a big believer in CRMs, big. But this is actually a slight disagreement that I was having with a business partner is this person is not a believer at all in CRMs. Like they don’t have a CRM, but highly, highly successful, which is amazing. And so the thing is, is

Nick Krem (12:17.294)
Yeah.

Nick Krem (12:34.412)
Yeah

Dylan Silver (12:35.858)
my mentality was like, I’m not gonna do anything without doing it in a CRM and his mentality is like, just call the darn leads. You know? And so I’ll get these text messages, just call the leads, call the leads, call the leads. But if you have this type of, you know, house whisper, the plod, it really enables a bridge between kind of these two extremes. Someone like me, who’s highly analytical, highly process oriented, and the other person who’s basically like,

Nick Krem (12:43.011)
Yeah.

Nick Krem (12:46.382)
can’t argue that. Yeah. Yeah.

Dylan Silver (13:03.127)
a real estate cowboy, like let me just get out there and make it happen type of deal.

Nick Krem (13:07.19)
Yeah. Yeah. And you know, I think that’s where look.

You need a CRM. I don’t care if you say successful without it. You’d be even more successful with one period. That’s it’s not a belief. That’s just that you could go to numbers and state that too. But I think that’s where it’s, where do you find things that make your life easier? That add efficiencies? Another great one is called who’s he.ai big believer in what who’s he is doing and what they’re rolling out where you can literally upload your contracts and have an AI agent be your transaction coordinator 24 seven. Yeah. Cause it’s a private GPT.

Dylan Silver (13:13.458)
You

Dylan Silver (13:38.451)
No way.

Nick Krem (13:41.248)
So you can talk to it back and forth gets you dates gets you anything that you’re looking for You can even ask it to draft you an email explaining this at a third grade level and then send it out So that way it’ll go through the contract explain the dates closing costs and things that you need They also have ways that you can have your open house assistance where it’s like an AI agent that will help walk somebody through a house for you so like those two I’m really excited about what they’re doing because I believe if you’re a producing agent

Dylan Silver (14:06.996)
Wow.

Nick Krem (14:09.474)
who is actually doing deals, a 24-7 transaction coordinator that answers your questions when you’re on vacation and you need to draft up the contract and like have your information, you can literally bring it up, talk to it back and forth, and then draft an email in seconds.

Dylan Silver (14:24.766)
You know, as I knock my microphone off the stand, the use cases for all of these, you talked about Whozit, you talked about House Whisperer, and when you mentioned 24-7 transaction coordinator, like, that is mind-blowing to me, man. Like, talk about transaction coordinators. Transaction coordinators themselves are heavily valuable, and there’s not a lot of people who can really do that role well, because typically you are a

Nick Krem (14:38.286)
Yeah.

Nick Krem (14:49.649)
yeah.

Dylan Silver (14:53.578)
In many cases, these are licensed agents or people who’ve worked with licensed agents for a very long period of time. You have to be able to understand the forms depending on which state you’re in, right? But on top of that, you also have to be able to interface with these very tricky seller and buyer issues. Like, I feel like 50 % of the job of a transaction coordinator is reaching out to these people and keeping them on the hook, right? And so anything that can facilitate that…

Nick Krem (15:18.36)
Right.

Dylan Silver (15:22.622)
Just a huge huge bonus. So in my mind like you mentioned Tony Stark I’m picturing like a situation where you’re wearing some type of AI wearable eye Glasses, it’s now casting it in front of you You’re like using your finger to like drag and drop to different stages in a pipeline You’re also able to see the suggested where it is add in the pipeline and then on a separate like area your field of view You have your transaction coordinator kind of in your ear

saying hey these are the action items that we need to address this person you know earnest money deposit is going to go hard you know option money so on and so forth and so man what what a what a what a field to be in

Nick Krem (16:05.322)
It’s…

It’s a great field of being and I just think it’s an exciting time to be alive. It’s literally an age where anything is possible with AI, you know, and I think some people who feel like, look, if you’re listening to this and you’re feeling overwhelmed, you’re feeling anxiety and all of these things, I get it because the world is moving faster than any of us believed possible. But here’s the reality and you might not like it. It’s never slowing down. We’ve opened up Pandora’s box.

AI will never slow down. The technology will never stop advancing. So you have a decision to make. Tell my people all the time, you’ll either be a creator or a watcher with this technology. You’ll either watch it happen, sit on the sidelines, wait for it to slow down, feel over like your anxiety kicking in overwhelmed, but you will be a watcher for life because it’s never slowing down and you have to learn it. You know, Shopify.

Dylan Silver (17:01.3)
done.

Nick Krem (17:04.375)
They just sent out an email to all their employees and like everybody who’s hiring and says, you cannot hire another person until you prove us to us that AI can’t do their job. So like, if you don’t choose to learn this in real estate, there’s not going to be many jobs, almost any that you can go to it and feel safe that AI is not, you’re not going to have to learn it. You have to learn it. So you either be a watcher and sit on the sidelines or be a creator and go out there and create more content, create more emails, create more efficiencies.

Dylan Silver (17:26.089)
Yeah.

Dylan Silver (17:30.346)
You know.

This is the idea of being a creator is an interesting wave because for the last I want to say 15 years we’ve heard a lot about STEM STEM STEM science technology engineering math very important right very very important that’s what gave birth to AI right however however I’ve heard a number of people I forget who it was I don’t want to say it was someone’s name and then it wasn’t I’ve heard a number of people talking about how

Nick Krem (17:48.718)
Yeah.

Dylan Silver (18:03.218)
with AI and me being in a software engineering bootcamp, see this. You don’t need to go as deep into learning these systems. You can have a higher level understanding, but what you need to be capable of is the creativity and the prompting of the AI. So we may see a return to like liberal arts degrees. You know, we may see in the future a lot more people saying we actually do not need and the

The desire to pay an engineer several hundred thousands of dollars for relatively manual arithmetic is not there Let’s offload this to AI and we need a creative and we need we need process people To get this forward so my I mean, that’s my perspective it could be a hot take But I feel like we’re about to enter an age of ultimate creativity

Nick Krem (18:57.186)
We are about to enter that age and you know a lot of those jobs and places you’ll still need an expert But you won’t need ten you’ll just need one to say this output that it generated is correct That’s what the expert will need to do because it’s not a hundred percent I don’t know if it ever will be like there’s still hallucinations the things that come with it you like that like what we’ll be looking at is more so like HR for AI Like you’re just more so quality control making sure everything is correct

And just saying like, right, everything that is outputted based on everything that I know and my expertise, that is correct. So that’s really what those jobs are going to turn into. But it’s, might not take a hundred people to do a job. It might take two to just be able to say, that’s right. That’s right. That’s wrong. Shift this. And then that’ll be it.

Dylan Silver (19:43.678)
You know what else, Nick, is the AI also heavily interfaces with UX user experience. And I was talking to a woman today, unbelievable story. So she was some type of art or design major, like pen to paper in school. She realized that she wasn’t going to make a ton of money in that career. So she used those skills, went into UX user experience, ended up working, I believe it was for JP Morgan.

And it’s just funny enough, I love JP Morgan. I love Chase Bank, right? And one of the reasons why I love them is the experience on their website, I feel, is just superior to a lot of other platforms. And I also, on that podcast, was talking with her, unrelated but somewhat, about Airbnb and how I felt like the user experience on Airbnb is just leagues, leagues.

Nick Krem (20:18.605)
Me too.

Nick Krem (20:25.966)
Hmm.

Nick Krem (20:36.046)
Hmm.

Dylan Silver (20:41.052)
above everybody else. Even if you go to book a hotel on like HolidayIn.com or Hilton.Mariott, you would think that Airbnb would be, but no, Airbnb is just absolutely, in my perspective, my money’s worth, dominating in user experience, dominating. And so when you merge user experience, the click through, how comfortable it is to navigate it, know, we’re talking about like just on your phone versus

Nick Krem (20:46.382)
Yeah.

Dylan Silver (21:09.2)
on the computer versus tablet and then you integrate AI with that to make it so that there’s this seamless experience and your questions are being answered at least the basic ones immediately. Man, that’s where you start to see like especially with what Airbnb is doing with their whole experience and I know I’m sure they’ve got AI in the pipeline there. It’s a home run.

Nick Krem (21:33.098)
It is. And you know it’s.

There’s going to be two types of businesses, those who adopt AI and those who don’t. And everyone’s like, here’s that. they’re like, yeah, yeah, that makes sense. My question for everybody who’s listening is, if you duplicated your actions, what you’ve been doing, let’s just say this last month, the amount of time you’re spending learning AI, the amount of time you’re implementing AI into your business, if you duplicated this last month for the next five years, will you be one of those people who takes over with this? If the answer is no, then you have to make an adjustment.

Dylan Silver (22:05.45)
Wow, you just said something. I don’t know if you ever found this was Nick. So you said five years. So I forget where I heard this, but recently I heard someone say that if you want to succeed, if you want to elevate yourself, you’ve got to make a compelling case to the universe that you deserve to succeed. And the barometer was 10 years, right? And so five years with AI, but I think you could even condense it further down that.

Right? So if you wanted to specifically learn like in what I’m doing, know, software engineering or full stack web development, and previously that may have taken you all of, you know, a year or two years if you’re doing it part time. With AI, how quickly do you think you could put together a portfolio? Like a month. Like, and you wouldn’t have to know the syntax errors in your code because you can go in and say, find the syntax errors. It’s not populating this way.

Nick Krem (22:53.464)
Yeah.

Dylan Silver (23:03.272)
And so you think about real estate. Yeah, you still have to pass your real estate exam, right? But as far as filling out your forms, if you’ve got 12 pages of documents and you could have, I’m just spitballing here, we’re probably not here just yet, but AI attorney, right? So hey, let me have this AI attorney review.

Nick Krem (23:05.272)
Mm-hmm.

Nick Krem (23:21.62)
It’s not that far off. Look, we’ve had people that they’ve uploaded agreements that they’ve had, whether it was insurance or anything else into AI and said, find me a loophole to get out of this. They literally found a loophole. Now draft me an email. My goal is this to get me out of this claim. They’ve gotten out like they’re really uploading these things every single day. They’re helping with contracts, helping with agreements, helping just edit, like go through this. They’ve even sent them to their lawyers like, Hey, who’d you have drafted for you? This is great. They’re like, yeah, so it’s thousands of dollars of work.

Dylan Silver (23:21.726)
You know what I mean?

Dylan Silver (23:48.007)
No way.

Nick Krem (23:51.504)
Can I’ll just be done using chat GPT?

Dylan Silver (23:54.996)
So Nick, are people coming to you often with, hey, I have this problem, how can AI help me with it? Is that something? I would imagine if you’re in my network, I’m like, hey, I have this, what can I do with AI?

Nick Krem (24:06.954)
Yeah, you know, that’s where it’s…

Yes, people come to us and they say like, here’s what I’m going through. How can AI help me do this? And that’s where it’s just problem solving and just through our experience through we’ve helped over 1100 agents make the transition AI power business. We just know a thing or two about a thing or two. So people bring it to us. And, you know, people are constantly bringing us new tools, but I usually keep it down. I like having like about six to seven tools that I tell people to get because you don’t need a thousand AI tools to dramatically change your business. I know people come out with a new one every single day and they’re all going to change your life, but I don’t believe that.

So I just think there’s just a couple tools that AI that agents need to really help make that transition. Yeah.

Dylan Silver (24:45.864)
Nick, are coming up on time here. Where can folks go to get a hold of you?

Nick Krem (24:49.388)
Yeah, so the simplest way is if you just go to www.crem.ai, K-R-E-M dot A-I, you guys can go there. You can learn more about our company, learn about our mission. And then we also have free live classes that we do for agents every single Thursday at 2 p.m. Eastern. So you guys are looking at like, hey, what’s the simplest way that you can start making that transition? We have a bunch of free resources on there. And you guys can also schedule a call with one of our reps to see how we can help you take that next step and to really make that difference. Because I believe there’ll be two types of agents

in the future, those who adopt to AI and those who are out of the business. So we’re simply helping real estate agents make that transition to an AI powered business.

Dylan Silver (25:27.666)
Nick, thank you so much for coming on the show. I could have talked to you about Airbnb, about ChatGPT prompting. You mentioned two businesses that I had never heard of before, House Whisperer and Hoosie. We could have filled up a whole other two podcasts. Thank you for giving us so much value and thanks for hopping on here.

Nick Krem (25:30.21)
Yeah.

Nick Krem (25:45.368)
Yeah, absolutely, Dylan.