{"id":796214,"date":"2026-05-14T16:37:19","date_gmt":"2026-05-14T16:37:19","guid":{"rendered":"https:\/\/www.europesays.com\/us\/796214\/"},"modified":"2026-05-14T16:37:19","modified_gmt":"2026-05-14T16:37:19","slug":"new-tech-offering-to-automate-property-tax-appeals-and-more","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/796214\/","title":{"rendered":"New Tech Offering to Automate Property Tax Appeals and More"},"content":{"rendered":"

Two Los Angeles-based companies are merging their respective expertise in artificial intelligence and commercial real estate through a partnership rooted in streamlining some of the industry\u2019s most tedious and costly tasks.<\/p>\n

The product offering, dubbed Fore Real, is the brainchild of artificial intelligence firm Fore Enterprise with support from Pegasus, a commercial real estate advisory platform with $4 billion of assets under management. Fore Real focuses on four services: property tax appeals, insurance compliance, lease abstraction and tenant communications.\u00a0<\/p>\n

Pegasus provided the use of data from its portfolio as a participant in the joint venture. Fore brought technical expertise, accumulated over its 4-year history as a private company.<\/p>\n

Tyler Hochman \u2014 CEO and founder of Fore Enterprise and Forbes 30 Under 30 alum \u2014 said the chance to build an AI platform from the ground up, informed by real data from a firm with more than 400 properties in its portfolio across 37 states, was a unique opportunity. By creating a product trained with a high volume of data points and then reviewed by a human, Jack Schoenfeld, Fore\u2019s chief growth officer and head of Fore Real, said the team was able to achieve \u201chigh model accuracy, but also high human certainty.\u201d<\/p>\n

\u201cWe embedded ourselves into Pegasus and did a lot of case work and a lot of prompt tuning and training on, literally, their brain,\u201d Schoenfeld said. \u201cThey have over 1,000 tenants and so there\u2019s so many nuances and use cases and so that forced us to uncover [a variety of] edge cases where the logic is a little different.\u201d<\/p>\n

As the emergence of AI gets harder and harder to ignore, Pegasus CEO David Chasin said the firm had experimented with several other AI-driven technologies and automation tools but took issue with the levels of accuracy they were able to produce. The Fore team claims its models have 98 to 99 percent accuracy \u2014 and in putting it to the test with his business, Chasin agreed, saying their work is \u201cthe closest to perfection\u201d you can get.\u00a0<\/p>\n

\u201cWe can\u2019t ever be in a situation where something got screwed up, and our client comes to us and says, \u2018How did this get screwed up?\u2019 And then we say, \u2018Oh, well, the AI screwed it up,\u2019\u201d Chasin said, referring to why he\u2019s shied away from other offerings.<\/p>\n

Fore Real employs <\/strong>a workflow where its solutions go through a variety of tests from multiple AI agents each evaluating the product\u00a0 \u2014 for example, a lease document \u2014 through different lenses and degrees of logic. The final agent before the human review process is the gatekeeper agent, or \u201cthe Grinch\u201d as Schoenfeld calls it, which is the most critical and \u201cpessimistic\u201d agent.\u00a0<\/p>\n

For lease abstraction, which Chasin referred to as a \u201chuge time and resource suck,\u201d the multi-agent approach is crucial, because a lease needs to be studied through the lenses of lenders, management, maintenance, buyers, insurance, etc. So if that process can be automated accurately \u2014 with final sign off from a human \u2014 there\u2019s a significant upside in that. Chasin sees Fore Real as uniquely qualified to produce that given the tech expertise of Fore Enterprise informed by Pegasus\u2019 \u201cbillions of lines of data,\u201d which trained the AI.<\/p>\n

In terms of Fore Real\u2019s property tax appeal function, Schoenfeld said many property managers currently outsource those services, and the service providers take a cut.<\/p>\n

\u201cNot only is AI doing it faster and in some cases much better, we\u2019re able to give all that upside back to our clients,\u201d he said.<\/p>\n

Considering the volume of tax districts spread across the country, an automated property tax appeal process has value, said David Stifter, CEO of PredictAP, an AI-driven invoice system for real estate companies. PredictAP boasts big name clients such as Related Group and CBRE.\u00a0<\/p>\n

That focus area also implicitly has good access to data, he said, making it a good fit for AI. On the other hand, looking at lease abstraction, Stifter said the success of this function is dependent on how tailored an AI tool can be to a variety of customers, given varying preferences and processes for lease documents.<\/p>\n

\u201cThe tax information can fit in a nice, structured bucket, while leases can be very unstructured,\u201d Stifter said, noting that the insurance compliance element falls somewhere in the middle. \u201cThe devil\u2019s in the details.\u201d<\/p>\n

With the official launch of Fore Real, the team aims to loop in other firms in addition to Pegasus.\u00a0<\/p>\n

\u201cWe have that foundation that\u2019s really strong, and then we are ready and able to modulate or adjust to any future firm,\u201d Schoenfeld said, adding that that\u2019s the difference between Fore Real and ChatGPT, where outside-the-box thinking is limited.<\/p>\n

As it stands, Chasin defined the two firms\u2019 relationship as \u201ca casual joint venture,\u201d noting that Pegasus is interested in doubling down after seeing proof of concept and is in discussions about taking an equity stake in Fore Real.\u00a0<\/p>\n

Given how fast AI is evolving and the ease at which companies are able to build their own tools internally, new independent products coming to market must \u201cprovide value add above and beyond what the existing AI models already bring on their own,\u201d said Gregor Schubert, a professor at UCLA who teaches a course centered around real estate and technology. One way to accomplish this is extensive data access.<\/p>\n

\u201cFor instance, an outside vendor might bring in data they have collected from other users, and therefore they can provide a capability that I couldn\u2019t provide in house for myself,\u201d Schubert said. \u201cThey might bring in a more complex technology back end that is not just a simple dashboard, but rather some sort of proprietary algorithms that do something.\u201d<\/p>\n

Schoenfeld described Fore Real as a \u201cliving and breathing platform that\u2019s going to continue to grow its capabilities\u201d based on continuous influx of data as they add new clients.<\/p>\n

Another way to differentiate yourself in the world of AI, Schubert said, is by offering an integrated platform, where each AI solution or function can interface with one another and thus be additive. Looking at the four components of Fore Real, this could mean the tenant communication aspect could pull data on a tenant from its lease abstraction element \u2014 such as rent price or lease length \u2014 to fine tune its approach to communicating with the tenant.<\/p>\n

\u201cA lot of the value there comes from the connection to the other databases and other functionalities that you\u2019d want to have in an interaction with someone,\u201d he said.<\/p>\n

That\u2019s one of the reasons Fore Real decided to make its services into one package, rather than individual offerings, Schoenfeld said.\u00a0<\/p>\n

As AI implementation can sound alarm bells for layoffs, Chasin said Pegasus will not take that approach. Rather, its focus will be on putting more attention on interfacing with clients with the free time employees will have as a result of automation.<\/p>\n

Whether you like it or not, AI is reshaping industries and real estate is no exception.<\/p>\n

\u201cI don\u2019t think companies get a choice,\u201d Schubert said, when it comes to implementing AI or not. \u201cChange is happening \u2014 It\u2019s not a thing that you can choose not to be a part of, because that would mean not being a part of your industry two or three years from now.\u201d\u00a0<\/p>\n

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