AI Can Write the Email, But It Can’t Close the Investor

Relli CEO Mor Milo on where artificial intelligence actually helps in real estate, and why the operators who win will still be the ones who make investors feel valued.

Artificial intelligence is reshaping how real estate firms work, but according to Mor Milo, co-founder and CEO of the commission-free marketplace Relli, the industry is drawing the wrong lessons about where it helps.

Milo is enthusiastic about AI in specific domains. It has transformed how his team ships code, produces design work, and processes information, letting a lean company operate at a scale that once required a large agency. “In the skill work associated with coding, design, and ideation, I think people should be scared for their jobs,” he said.

The limits appear the moment the work becomes human-facing. Milo is skeptical of handing underwriting judgment to a model, and openly unconvinced by AI voice and chat tools meant to engage investors. “In terms of interpersonal skills and physical interactions, we have a long way to go,” he said. He expects a first wave of AI companies to overpromise and contract before a second wave learns to make the technology genuinely useful in personal interactions.

The problem Milo is most focused on solving is not technological at all. It is the gap between the moment an investor expresses interest in a deal and the moment a sponsor actually engages and begins building rapport. On one side, operators treat a newcomer the same way they treat a longtime investor. On the other, an investor deploying a significant sum feels ignored.

His comparison is a relationship. You do not go from zero to a hundred on a first meeting. The firms that succeed, he says, will build a genuine discovery process, learning about the investor before asking for a check, rather than pitching the deal and going straight for the close.

Beneath all of it is a simple truth Milo says surprised him most. “They want to feel good,” he said. Investors want to know their money is respected, even when their contribution is a small fraction of a larger raise. “To that person, it’s their life savings.”

His advice to investors reflects the same grounded view. Rather than fixating on how AI might transform the industry, he says, focus on fundamentals. “Underwrite the deal and the operator, as opposed to only focusing on the macro.”

About Relli
Relli is a commission-free, direct-to-sponsor private real estate marketplace connecting accredited investors with vetted commercial real estate syndication opportunities. Positioned as “The Stock Market of Real Estate,” Relli was co-founded by Mor Milo (CEO) and Ross Iannarelli (COO). Learn more at relli.co.

This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. All investments carry risk, including the possible loss of principal. Neither the publication nor the author can be held responsible for decisions made based on this content.

Disclosure: Individuals or companies mentioned may have a commercial relationship with KeyCrew.

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