In the digital world of 2023, there is a newcomer that, in my opinion, will completely change how we use artificial intelligence in both our personal and professional lives. It is known as ChatGPT.
It is one of the most talked-about new tools, and many people worldwide have discovered various ways to use it.
In addition to marketing, ChatGPT is also gaining traction in the real estate sector. So it should come as no surprise that the AI chatbot produced outstanding results that encouraged many real estate brokers to write emails and property listings.
Realtor JJ Johannes from Iowa is one of them. He expressed his delight at how much time ChatGPT has saved him when drafting real estate listings. He was amused with the outcomes even if he had to amend the AI’s work.
“It saved me so much time,” Johannes told CNN. “It’s not perfect, but it was a great starting point. My background is in technology, and writing something eloquent takes time. This made it so much easier.”
He demonstrated a description of a three-bedroom home written entirely by ChatGPT in a video, complete with buzzwords like “open floor plan” and “recently updated.”
“I could ask it to regenerate it; I could add more features. I could use something like this for a social media post or for a newsletter or something like that,” he said in the video. “And that’s just scratching the surface of what you could do with ChatGPT,” Johannes added.
As AI becomes a tool for realtors, some industry professionals think it will soon become the standard. Since much of the written work can be repetitive and time-consuming, the new AI tool is already having a substantial impact on how many the real estate agents go about their profession.
“I’ve been using it for more than a month, and I can’t remember the last time something has wowed me this much,” said Andres Asion, a Miami Real Estate Group broker.
However, there are certain drawbacks. The tool, for example, has previously struggled with certain basic math. According to experts, it is helpful for quick estimations rather than accurate numbers.
According to Serge Reda, a commercial real estate executive and adjunct professor at the Fordham Real Estate Institute, while ChatGPT can save realtors time when writing listings or responses, automating client responses may not be the best strategy since generating leads and closing transactions typically require a personalized approach.
While ChatGPT has attracted the attention of realtors, using AI in the real estate sector is not entirely new.
A listing website called Zillow uses AI for 3D mapping, automatically generated floor plans, and its Zestimate tool to more accurately reflect market conditions.