ChatGPT takes on real estate: Agents say the AI could be a game changer in the industry


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Century 21 Beggins Enterprises on its web site lists a “beautiful” three-bedroom condominium in Madeira Seashore, Florida with “large spacious balconies to enjoy the warm, beautiful views.”

“This is one of the only properties available on the Gulf Beach islands that’s totally pet friendly,” the itemizing reads. “Secure your piece of paradise at The Residences at Madeira Beach Town Center. Welcome home.”

When you’re tempted to purchase the itemizing, thank ChatGPT. The textual content above was written by the free synthetic intelligence laptop program.

Actual property brokers throughout the nation are turning to this system to assist write up itemizing descriptions and content material scripts, as first reported by CNN.

“We’re using it every day,” stated Mike Puma, chief advertising and marketing officer at Century 21 Beggins, who makes use of ChatGPT to jot down content material like social media posts or video scripts for actual property brokers. “(This allows) them to spend more time on what they do best.”

How are actual property brokers utilizing ChatGPT?

Tony Angelos, a Chicago-based dealer, stated he began utilizing ChatGPT quickly after OpenAI launched this system in November 2022.

“It’s a total game changer,” he stated. For many actual property brokers, “marketing and prospecting is really most of the jobs’ core functions. And this is a very cost-effective way to completely eliminate one of those things.”

Angelos makes use of this system recurrently to provide you with scripts for social media movies and itemizing descriptions.

Earlier this week, he had the AI program write a script about issues to do in Chicago in February. He stated what would have taken him 20 minutes to jot down took ChatGPT 5 seconds.

“I said make it a little funnier, and it made it funnier for me,” he stated. “It’s not perfect by any means. But it is an amazing starting point.”

Paige Hewitt, a realtor based mostly in Indianapolis, has used ChatGPT to assist write itemizing descriptions and advertising and marketing newsletters. She stated this system’s capabilities far exceeded her expectations, and she or he’s excited that the time it saves her means she will be able to spend extra time with purchasers.

“It’s going to make my job easier, which is going to make me stronger at my job,” she stated.

Whereas the technology is a rising development within the trade, the Nationwide Affiliation of Realtors’ director of rising know-how, David Conroy, says enterprise utilization amongst realtors has up to now been restricted.

How a lot does ChatGPT value?

Whereas ChatGPT is free for now, OpenAI’s official Discord server in January stated the corporate was “starting to think about how to monetize ChatGPT” to “continue improving and maintaining the service.”

Actual property brokers informed U.S. TODAY they imagine the device can be effectively well worth the cash.

“We’ve been playing around with different AI platforms for years now and none of them have been very good,” Puma stated. With ChatGPT, “we can now build really unique things on top of this that make the agents’ life even easier.”

What are ChatGPT’s limits?

ChatGPT has confirmed to be helpful, nevertheless it’s not excellent.

Its reputation means it recurrently reaches full capability, forcing customers to attend their flip to make use of this system. And since it was educated with writing from the web as much as 2021, a few of its info is outdated.

Conroy from NAR warned that something generated with AI ought to be totally reviewed by licensed professionals. That features itemizing descriptions; he notes that NAR’s code of ethics prohibits the exaggeration or misrepresentation of pertinent info.

“There could be scenarios where listing descriptions created by using AI could unintentionally include language or descriptions that are not intended or even violate fair housing laws,” Conroy stated in an emailed assertion. “It is important to remember that real estate professionals have a responsibility to their clients to be honest and truthful.”

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ChatGPT takes on actual property: Brokers say the AI may very well be a sport changer within the trade (2023, February 1)
retrieved 1 February 2023

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