Results · 123 real estate tasks

Hours of analyst work, done in minutes.Every task three ways: a person, a person with Claude or GPT, and Реалист. Time, money and what you keep in a year.

$2.2Ma typical firm can keep in a year across these tasks

31,726 hof work back, about 16 full-time analysts

14%of what the same work costs by hand

Every task

Person, person with AI, Реалист

Task	Person	Person + Claude / GPT	Реалист	Gain
Deal sourcing and signals
Find properties with loans maturing in the next 24 months in a market	16 h$1,200	11.2 h$840	20 мин$35	48× faster$13,980 a year
Find owners who have held a property 15+ years (likely sellers)	12 h$900	8.4 h$630	15 мин$35	48× faster$10,380 a year
Build an off-market target list for one submarket	24 h$1,800	14.4 h$1,080	30 мин$90	48× faster$20,520 a year
Find land and under-built lots for development	20 h$1,500	13 h$975	30 мин$90	40× faster$11,280 a year
Track new permits and filings in a territory every week	6 h$450	3.6 h$270	10 мин$12	36× faster$22,776 a year
Spot distressed properties: liens, defaults, tax arrears	10 h$750	7 h$525	15 мин$35	40× faster$17,160 a year
Find the real owner behind an LLC and the decision makers	3 h$225	1.8 h$135	10 мин$12	18× faster$31,950 a year
Verified contacts for an owner (email, phone, LinkedIn)	1.5 h$113	54 мин$68	5 мин$12	18× faster$30,150 a year
Watch tenant moves, closures and expansions in a market	6 h$450	3.6 h$270	10 мин$12	36× faster$22,776 a year
Leases ending in the next 18 months across a market	12 h$900	8.4 h$630	20 мин$35	36× faster$10,380 a year
Map competitors’ recent buys and sells	8 h$600	4.8 h$360	15 мин$35	32× faster$6,780 a year
Weekly new-signal brief for the acquisitions team	4 h$300	2 h$150	5 мин$12	48× faster$14,976 a year
Deal intake and screening
Read an OM and write a first screen memo	4 h$300	2 h$150	15 мин$35	16× faster$53,000 a year
Pull rent roll, T-12 and debt terms out of a data room	3 h$225	1.5 h$113	10 мин$12	18× faster$25,560 a year
Clean and normalize a rent roll into a model-ready sheet	2.5 h$188	1.3 h$94	5 мин$12	30× faster$26,325 a year
Normalize a T-12 into a standard chart of accounts	2 h$150	1 h$75	5 мин$12	24× faster$20,700 a year
Check a broker’s claims against the documents	3 h$225	1.8 h$135	15 мин$35	12× faster$19,000 a year
Score a deal against the firm’s buy box	1 h$75	30 мин$38	3 мин$12	20× faster$25,200 a year
Go / no-go one-pager for the investment committee	3 h$225	1.5 h$113	15 мин$35	12× faster$19,000 a year
List of open questions to send back to the broker	1 h$75	24 мин$30	5 мин$12	12× faster$12,600 a year
Sort the inbox of incoming deals by fit and urgency	5 h$375	2.5 h$188	5 мин$12	60× faster$18,876 a year
Full Underwriting of a complete data room	12 h$900	6.6 h$495	51 мин$90	14× faster$48,600 a year
Underwriting and financial models
Multifamily acquisition underwriting model	16 h$1,200	9.6 h$720	60 мин$90	16× faster$44,400 a year
Office acquisition underwriting with lease-by-lease cash flow	24 h$1,800	15.6 h$1,170	90 мин$220	16× faster$23,700 a year
Industrial acquisition underwriting	14 h$1,050	8.4 h$630	60 мин$90	14× faster$24,000 a year
Retail center underwriting with tenant rollover	20 h$1,500	13 h$975	75 мин$220	16× faster$19,200 a year
Hotel underwriting (ADR, occupancy, RevPAR)	18 h$1,350	11.7 h$878	75 мин$220	14× faster$9,040 a year
Pro forma with rent growth and exit cap scenarios	6 h$450	3 h$225	20 мин$35	18× faster$24,900 a year
Sensitivity tables: IRR and equity multiple by cap rate and rent	3 h$225	1.2 h$90	5 мин$12	36× faster$17,040 a year
Waterfall model for a JV (pref, promote, catch-up)	10 h$750	6 h$450	30 мин$90	20× faster$9,900 a year
Value-add budget and return on renovation	8 h$600	4.8 h$360	30 мин$35	16× faster$14,125 a year
Refinance analysis: proceeds, DSCR, cash-out	4 h$300	2 h$150	15 мин$35	16× faster$7,950 a year
Hold vs sell analysis for an owned asset	8 h$600	4.8 h$360	30 мин$35	16× faster$11,300 a year
Re-underwrite a deal after new numbers arrive	4 h$300	2 h$150	15 мин$35	16× faster$15,900 a year
Audit an outside underwriting model for errors	6 h$450	3.6 h$270	30 мин$35	12× faster$12,450 a year
Valuation
Sales comps set with adjustments	5 h$375	3 h$225	15 мин$35	20× faster$34,000 a year
Rent comps set for a property	4 h$300	2.4 h$180	15 мин$35	16× faster$26,500 a year
Cap rate survey for a market and asset class	6 h$450	3.6 h$270	20 мин$35	18× faster$4,980 a year
Replacement cost estimate	6 h$450	3.6 h$270	20 мин$35	18× faster$8,300 a year
Portfolio mark-to-market (per asset)	3 h$225	1.8 h$135	10 мин$12	18× faster$25,560 a year
Land value by residual method	6 h$450	3.6 h$270	20 мин$35	18× faster$8,300 a year
Property tax assessment check and appeal case	8 h$600	4.8 h$360	30 мин$35	16× faster$11,300 a year
Due diligence
Title and ownership history summary	3 h$225	1.8 h$135	10 мин$12	18× faster$12,780 a year
Liens, judgments and litigation on owner and property	3 h$225	1.8 h$135	10 мин$12	18× faster$12,780 a year
Zoning summary: what can be built and what is allowed	5 h$375	3 h$225	15 мин$35	20× faster$13,600 a year
Permit history and open violations	3 h$225	1.8 h$135	10 мин$12	18× faster$12,780 a year
Flood, climate and environmental risk summary	3 h$225	1.8 h$135	10 мин$12	18× faster$12,780 a year
Lease abstract for one lease	2 h$150	48 мин$60	5 мин$12	24× faster$41,400 a year
Estoppel vs lease reconciliation	6 h$450	3 h$225	15 мин$35	24× faster$16,600 a year
Service contracts review and roll-off schedule	4 h$300	2 h$150	15 мин$35	16× faster$7,950 a year
Property condition report summary and capex plan	4 h$300	2 h$150	15 мин$35	16× faster$10,600 a year
Seller’s financial statements reconciled to bank and rent roll	8 h$600	4.8 h$360	30 мин$35	16× faster$16,950 a year
Due diligence checklist tracked to completion	10 h$750	6 h$450	30 мин$35	20× faster$21,450 a year
Sponsor background check	4 h$300	2.4 h$180	15 мин$35	16× faster$10,600 a year
Market research
Submarket report: supply, demand, rents, vacancy	16 h$1,200	9.6 h$720	30 мин$90	32× faster$13,320 a year
Pipeline of new construction competing with a property	6 h$450	3.6 h$270	15 мин$35	24× faster$12,450 a year
Demographics and employment around a site	4 h$300	2 h$150	10 мин$12	24× faster$14,400 a year
Absorption and lease-up forecast	8 h$600	4.8 h$360	20 мин$35	24× faster$11,300 a year
Rent and sale price trend for a market	4 h$300	2.4 h$180	10 мин$12	24× faster$11,520 a year
Who is buying and lending in a market now	6 h$450	3.6 h$270	15 мин$35	24× faster$4,980 a year
Retail trade area and traffic summary	6 h$450	3.6 h$270	15 мин$35	24× faster$6,225 a year
Market entry study for a new metro	40 h$3,000	24 h$1,800	120 мин$220	20× faster$8,340 a year
Lending and debt
Loan sizing: DSCR, LTV, debt yield	3 h$225	1.5 h$113	10 мин$12	18× faster$25,560 a year
Credit memo for a loan request	16 h$1,200	9.6 h$720	60 мин$90	16× faster$44,400 a year
Borrower and guarantor financial review	6 h$450	3.6 h$270	20 мин$35	18× faster$16,600 a year
Loan covenant monitoring for a portfolio (per loan, quarterly)	2 h$150	1 h$75	5 мин$12	24× faster$55,200 a year
Watchlist review of loans at risk	12 h$900	7.2 h$540	30 мин$90	24× faster$9,720 a year
Term sheet comparison across lenders	4 h$300	2 h$150	10 мин$12	24× faster$7,200 a year
Maturity wall report for the loan book	10 h$750	6 h$450	20 мин$35	30× faster$2,860 a year
Draw request review for a construction loan	4 h$300	2.4 h$180	15 мин$35	16× faster$15,900 a year
Development and feasibility
Site feasibility: what to build, how big, what it earns	24 h$1,800	14.4 h$1,080	60 мин$220	24× faster$23,700 a year
Highest and best use study	20 h$1,500	12 h$900	60 мин$220	20× faster$10,240 a year
Unit mix and program study	8 h$600	4.8 h$360	30 мин$35	16× faster$8,475 a year
Development budget (hard and soft costs)	10 h$750	6 h$450	30 мин$90	20× faster$9,900 a year
Development pro forma and return on cost	12 h$900	7.2 h$540	40 мин$90	18× faster$12,150 a year
Construction schedule and cash draw forecast	8 h$600	4.8 h$360	30 мин$35	16× faster$5,650 a year
Entitlement path and timeline	8 h$600	4.8 h$360	30 мин$35	16× faster$5,650 a year
Contractor bid leveling	6 h$450	3 h$225	20 мин$35	18× faster$8,300 a year
Monthly construction progress report	6 h$450	3 h$225	15 мин$35	24× faster$9,960 a year
Asset and property management
Monthly asset management report per property	6 h$450	3 h$225	15 мин$35	24× faster$49,800 a year
Budget vs actual variance explanation	4 h$300	2 h$150	10 мин$12	24× faster$34,560 a year
Annual operating budget per property	16 h$1,200	9.6 h$720	40 мин$90	24× faster$11,100 a year
Vendor invoice audit against contracts	6 h$450	3.6 h$270	15 мин$35	24× faster$24,900 a year
Utility and expense benchmarking	4 h$300	2.4 h$180	10 мин$12	24× faster$8,640 a year
Rent increase recommendations at renewal	3 h$225	1.5 h$113	10 мин$12	18× faster$25,560 a year
Delinquency and collections report	3 h$225	1.5 h$113	5 мин$12	36× faster$25,560 a year
Work order triage and routing	30 мин$38	18 мин$23	2 мин$12	15× faster$76,500 a year
Tenant request reply by email	15 мин$19	8 мин$9	2 мин$12	8× faster$33,750 a year
CAM reconciliation per property	12 h$900	7.2 h$540	30 мин$90	24× faster$12,150 a year
Insurance renewal and coverage check	6 h$450	3.6 h$270	15 мин$35	24× faster$6,225 a year
Capex plan and priority list	8 h$600	4.8 h$360	20 мин$35	24× faster$8,475 a year
Аренда
Lease proposal and LOI draft	2 h$150	48 мин$60	5 мин$12	24× faster$20,700 a year
Compare tenant proposals (net effective rent)	3 h$225	1.5 h$113	10 мин$12	18× faster$12,780 a year
Tenant credit check	3 h$225	1.8 h$135	10 мин$12	18× faster$17,040 a year
Prospect list of tenants for a vacant space	8 h$600	4.8 h$360	20 мин$35	24× faster$11,300 a year
Leasing activity report for owners	4 h$300	2 h$150	10 мин$12	24× faster$14,976 a year
Listing description and flyer copy	2 h$150	48 мин$60	5 мин$12	24× faster$8,280 a year
Investors and reporting
Quarterly investor report for a fund	40 h$3,000	24 h$1,800	120 мин$220	20× faster$11,120 a year
Investor update letter for one deal	4 h$300	2 h$150	15 мин$35	16× faster$10,600 a year
Investment committee memo	12 h$900	6.6 h$495	45 мин$90	16× faster$24,300 a year
Answer an investor due diligence questionnaire	20 h$1,500	12 h$900	60 мин$220	20× faster$7,680 a year
Fundraising deck for a new deal	16 h$1,200	9.6 h$720	60 мин$90	16× faster$11,100 a year
Track record table and fund metrics	10 h$750	6 h$450	30 мин$35	20× faster$2,860 a year
Capital call and distribution notices	3 h$225	1.5 h$113	10 мин$12	18× faster$5,112 a year
Documents, decks and Excel
Offering memorandum for a listing	30 h$2,250	18 h$1,350	90 мин$220	20× faster$30,450 a year
Pitch deck for a client meeting	8 h$600	4.4 h$330	30 мин$35	16× faster$22,600 a year
Turn a PDF table into a working Excel sheet	1.5 h$113	36 мин$45	3 мин$12	30× faster$20,100 a year
Fix and check formulas in a large Excel model	6 h$450	3.6 h$270	20 мин$35	18× faster$12,450 a year
Summarize a 100-page document into one page	3 h$225	1.0 h$79	5 мин$12	36× faster$21,300 a year
Compare two versions of a contract and list the changes	2 h$150	48 мин$60	5 мин$12	24× faster$11,040 a year
Map and charts for a presentation	3 h$225	1.8 h$135	10 мин$12	18× faster$12,780 a year
Translate a deal package into another language	6 h$450	1.8 h$135	15 мин$35	24× faster$4,150 a year
Client work and email
Answer a client’s question about a property by email	1 h$75	30 мин$38	5 мин$12	12× faster$37,800 a year
Prepare for a client meeting: who, history, what they need	2 h$150	1 h$75	5 мин$12	24× faster$20,700 a year
Follow-up email after a call with next steps	30 мин$38	12 мин$15	3 мин$12	10× faster$7,650 a year
Log every touch with a client into the CRM	15 мин$19	8 мин$9	1 мин$12	15× faster$27,000 a year
Weekly pipeline report	3 h$225	1.5 h$113	5 мин$12	36× faster$11,076 a year
Personal update to each client in the book	30 мин$38	15 мин$19	2 мин$12	15× faster$38,250 a year
Compliance and admin
KYC and sanctions check on a counterparty	1.5 h$113	54 мин$68	5 мин$12	18× faster$15,075 a year
Track filing and renewal deadlines across entities	4 h$300	2.4 h$180	5 мин$12	48× faster$6,912 a year
1031 exchange timeline and replacement property list	6 h$450	3.6 h$270	20 мин$35	18× faster$2,490 a year
Property tax bills checked and calendared	3 h$225	1.8 h$135	5 мин$12	36× faster$6,390 a year
Lender and partner reporting packages	8 h$600	4.8 h$360	20 мин$35	24× faster$13,560 a year

Every line is an estimate for a typical task at a mid-size US firm, not a measurement of your team.
A person is a fully loaded analyst at $75 an hour (about $150,000 a year with taxes, benefits and seat over 2,000 hours).
A person with a chat assistant (Claude or GPT) is the same analyst using one: drafting and reading get faster, finding data, checking it and building the file still take the hours shown.
Реалист is the time until the finished result is in your inbox, and the cost is the share of an annual contract one task uses, your review included.
Saved per year is the cost by a person minus the cost with Реалист, times how often a typical firm does the task in a year.

Measured · updated 30 October 2026

Our own runs, measured

The label says what kind of figure each Реалист time is. Time by hand is always an estimate for a typical deal, not a measurement of your team.

Process	Для	By hand (estimate)	With Реалист	Runs behind it	Latest 30 days
Screening an incoming OM	Investors, lenders, brokers	about 2 hours	about 30 to 40 minutes of engine time, about 12 minutes of your check Estimate	no clock yet
Underwriting a deal	Инвесторы	about 22 hours	about 58 minutes (the middle half of runs took 35 to 74 minutes) Измерено	44 runs	about 74 minutes, median of 114 runs
Credit file and DSCR stress	Кредиторы	about 22 hours	около 1 часа Estimate	to measure
Data room check before signing	Investors, lenders	4.5 hours of reading, without cross-checking	about 78 minutes with full cross-check Пример	1 test case (6 red flags in 46 items)
OM, IC memo and investment deck	Brokers, developers	about 30 designer hours for an OM	about 1 hour from the same run Estimate	to measure
Finding reasons to call on a territory	Brokers, lenders, investors	about 1 day a week	a weekly list; every row has its reason, date and owner Estimate	not a time claim
Who owns it and who decides	Brokers, investors	to measure	to measure To measure	to measure
Portfolio monitoring	Owners, lenders	no estimate	a property passport in about 4 minutes To measure	few runs

How we know

Метод

Реалист time is the median time from the request to the delivered files, over completed production runs created in the 30 days to 18 October 2026. One clock for every product. The middle half is the range between the 25th and the 75th percentile.
Time by hand is an estimate for a typical deal: the figures Реалист publishes in its deal-hours tool, or a rule of thumb. It is not a measurement of your team and it is marked as an estimate wherever it appears.
Time with Реалист is not the time of the whole process: the output is a draft and your professional reviews and signs it. We assume that check is 10% of the hand hours and say so; we will replace the assumption with a measurement.
Each row also shows the same clock read again for the 30 days to 29 October 2026, so that a slower or faster month is visible. The value opinion is not shown there until its cut is made comparable.
We compare Реалист with the process, not with other companies.
A row marked «to measure» has no number because we have not measured it. A row marked «example» is one real run, not a median.
We are testing a human working with an AI assistant on five incoming OMs, three ways, with the answer key written in advance. That column is not here until the test is done.

Updated 30 October 2026. Реалист is not a broker, appraiser or law firm; every output is a draft for a licensed professional to review and sign.