REAL ESTATE NEWS

JLL is raising the bar for property management technology with its latest offering: JLL Property Assistant. Designed for owners of retail, industrial, and office properties. This new product is built to deliver actionable insights and AI-driven recommendations that help optimize property performance. The secret sauce lies in its integration of data from both the Yardi accounting system and JLL’s own Prism property management platform, creating a powerful engine for smarter decision-making.

But there’s much more beneath the surface. At the heart of JLL’s innovation is Falcon, a suite of AI models and tools developed in-house specifically for the real estate industry. “JLL Falcon is a suite of AI models and tools that we’ve built internally,” Daniel Russo, JLL’s property management technology lead, told GlobeSt.com. “It's a platform that is set of large language models that are trained for the real estate industry.” By developing Falcon internally, JLL maintains strict control over privacy and customer data, ensuring that sensitive information stays protected. Falcon also features robust APIs and other tools, allowing seamless integration with JLL’s various applications.

Russo further explained the ecosystem: “Prism is the property management platform and Acumen is our financial reporting platform that sits on top of the customer accounting systems.” Large language models, like those powering Falcon, function much like ChatGPT or Gemini, storing complex relationships between words and concepts found in their training data. When users interact with the system, sophisticated algorithms analyze the input and generate responses or recommendations based on recognized patterns.

What sets JLL’s approach apart is the depth of information at its disposal. With connections to both financial and property management reporting—and the collective experience from JLL’s vast portfolio—the AI can sift through enormous amounts of written data to answer questions and offer tailored suggestions for each property’s unique needs.

Russo highlighted how these capabilities translate into real-world benefits. JLL’s teams conduct thorough property inspections regularly by checking cleanliness, taking photos, inspecting roofs, evaluating safety systems, parking lots and landscaping. Every inspection is scored, and the software can compare these over time to spot trends that might signal emerging issues.

Even the smallest details are covered. The AI reviews all documentation and communications to ensure completeness and clarity, scrubbing away any stray comments before tenants see them. As Russo put it, “A lot of applications will do file abstraction. And so, we've built our own machine learning and other types of technologies. We have a really large services business. We manage the tenants and collect the rent and do the maintenance, and we hire the cleaning crews and security teams, and manage the risk processes, compliance, and safety processes.”

Source: GlobeSt/ALM