Commercial real estate has an expensive data problem, according to DealGround CEO Dan Mosher, who argues that billions in efficiency gains are being left on the table due to outdated document management practices.
“The problem is that all this data exists in PDFs and documents that are not structured in any way,” Mosher explains, highlighting a critical inefficiency in how the industry handles vital information. According to Mosher, commercial real estate professionals spend countless hours manually extracting data from offering memorandums, lease documents, and property reports, time that could be better spent on high-value client interactions.
This manual approach isn’t just time-consuming, it’s also prone to errors and inconsistencies. Brokers and analysts must repeatedly comb through dense documents to find and verify basic information about properties, tenants, and deal terms. The result is an estimated $8 billion in lost productivity annually across the industry.
Mosher’s company is tackling this challenge head-on with artificial intelligence. “We’re using AI to extract all of that information automatically and structure it in a way that makes it useful,” he says. The technology can parse through complex real estate documents and convert unstructured data into standardized, searchable formats.
The impact goes beyond simple time savings. When data is properly structured and accessible, it enables deeper market analysis and more informed decision-making. “We’re building an analytics platform that helps brokers understand what’s happening in their market,” Mosher notes. This includes tracking key metrics like lease rates, tenant movements, and property performance across different submarkets.
While the technology shows promise, Mosher acknowledges that changing long-established industry practices takes time. DealGround’s approach focuses on demonstrating immediate value to individual users while building toward broader industry adoption.
“We want to be the system of record for commercial real estate,” Mosher states, outlining his vision for the future. The company has already begun partnering with several major brokerage firms to implement its AI-powered document processing system, with early users reporting significant reductions in data entry time and improved accuracy in deal analysis.
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