Growth and artificial intelligence were hot topics at the recent annual meeting of Sarasota real estate firm Michael Sanders & Co.
First, founder and CEO Michael Sanders expressed concern that a settlement with the National Association of Realtors earlier this year could lead to changes in regulations regarding fees.
“Nothing has happened that changes who we are or the value we provide,” Sanders said in a statement released by the company summarizing the annual meeting.
In its 48 years in business, Michael Sanders & Company has seen “the Internet revolution, shifts in demographics and consumer preferences, a Great Recession and a global pandemic,” Sanders said at the firm’s annual meeting at the Hyatt Regency in Sarasota on May 16. “As a firm, we have met each challenge head on and adapted to the changes, and Michael Sanders & Company has emerged stronger as a result.”
Whatever changes may come as a result of the settlement with the National Association of Realtors, Sanders said his company’s core values will remain the same. “We are a full-service company that provides exceptional service,” Sanders said. “That’s who we are and that’s not going to change.”
In fact, the company is growing.
Michael Sanders & Company has 16 full-service offices in the region, from Boca Grande to Holmes Beach, and plans to open a new office in Wellen Park.
The new branch is expected to open in 2025, according to President Drayton Sanders. The exact location in Wellen Park was not immediately clear.
Another new development discussed at the annual meeting was the use of artificial intelligence in the real estate industry.
Chief Marketing Officer Chantè Blough and Vice President of Business Development Chip Murphy shared how AI can help real estate agents improve their business, for example by using AI-generated email templates, getting assistance with property descriptions and video editing, and working with AI programs to practice handling objections from buyers and homeowners.
While AI can assist agents with the sales process, Blough and Murphy stressed that the human element is fundamental in the real estate industry.
“Our industry is built on personal connections, a deep understanding of customer needs and nuanced negotiation — qualities that are inherently human,” Braff said.
Former CNBC chief economist and speaker Marcy Rossell added that while humans will not be replaced by AI, humans using AI will likely replace those who do not embrace the new technology. Her message was consistent with the other speakers in that AI will simplify tasks, making them easier and cheaper to complete.
“The adoption of artificial intelligence will increase productivity and ultimately improve living standards,” Rossell said.
