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Real Estate Technology

Precord

AI-Powered Contract Processing for Commercial Real Estate

2-3 hrs → 15 min
Processing Time
Zero Errors
Manual Entry Eliminated
10x Volume
Scalability Achieved

The Challenge

Precord's legal and administrative team was spending 2-3 hours per contract manually extracting deal terms to input into their transaction management system. This labor-intensive process was bottlenecking growth and introducing costly errors.

  • Legal staff spending hours on manual data entry instead of high-value work
  • High error rates from manual transcription of contract terms
  • Inconsistent data quality depending on who processed the contract
  • Difficulty scaling operations as deal volume increased
  • Delayed transaction processing affecting client satisfaction
  • No ability to quickly search or analyze historical contract data

Our Solution

We built an intelligent contract processing platform that automatically reads, extracts, and populates deal terms using advanced AI and natural language processing.

System Features:

  • Document Upload: Simple drag-and-drop interface for contract submission
  • AI Processing: ChatGPT and Grok extract key terms and clauses
  • Smart Validation: Automatic detection of missing or ambiguous terms
  • CRM Integration: Direct population of transaction management systems
  • Audit Trail: Complete history of all extractions and changes
  • Search & Analytics: Quickly find and analyze contract data

Technical Implementation:

  • Backend: Python with FastAPI for document processing
  • Frontend: React/Next.js for user interface
  • Automation: n8n workflows for orchestration
  • AI: ChatGPT and Grok APIs for intelligent extraction
  • Storage: AWS S3 for documents, PostgreSQL for structured data
  • Infrastructure: AWS Lambda for serverless processing

Results & Impact

90%
Time Reduction

From 2-3 hours down to 15 minutes per contract.

Zero
Data Entry Errors

Eliminated manual transcription mistakes entirely.

10x
Volume Capacity

Process 10x more contracts without hiring.

3 months
ROI Payback

System paid for itself in saved labor costs.

Technologies Used

PythonFastAPIReactNext.jsn8nAWS LambdaAWS S3PostgreSQLChatGPT APIGrok APINLPTerraform

"Oh wow! This is awesome! Watching our spreadsheet auto-populate from uploaded contracts was amazing. We've gone from spending 2-3 hours per contract to just 15 minutes, and our team can now focus on serving clients instead of data entry."

— Precord Executive Team

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