Best Uses of AI and ChatGPT for Real Estate

“I always say having AI is like having your smartest best friend in your back pocket at all times,” said Craig Grant on a recent PAR webinar about AI in real estate. Grant is the founder of the Real Estate Technology Institute and RETI.us, as well as a best-selling author. 

He shared 23 ways Realtors® can use AI in their businesses. Here are five. 

1. Automating Tasks 

AI can automate tasks by scheduling the things Realtors® do on a recurring basis, like sending emails, sending text messages, scheduling reminders and appointments, answering questions, making to-do lists and more.  

Agentic AI or AI assistants can help perform these automated tasks, helping to streamline business and give Realtors® more time to focus on other work. AI assistants can be built by entering prompts, or they can be bought pre-built.  

2. Content Creation 

AI can help generate content ideas, as well as create the content. This includes images, social media posts, blog articles, video scripts, ad copy, emails and more.  

“Another pretty amazing tool in the content creation area is Realtors® Property Resource, which is a fabulous member benefit,” Grant added. “RPR did a pretty amazing integration with ChatGPT several months ago, so if you’re in there doing research using the market trends tools, you’re able to see a button called ‘Create a Script’ that allows you to instantly create content about that geographic area in seconds using AI.” 

He also noted that AI can generate and edit videos, including making longer videos into short-form content. 

3. Marketing and Communications Planning 

Grant shared that Realtors® can use AI to create marketing and communications plans, including prompting the platform to generate a detailed plan based on the budget they enter.  

AI can also create marketing materials, like business cards, flyers and more, which can be helpful for Realtors® looking to save time and/or who may not feel as confident in their marketing skills. 

4. Problem Solving 

Realtors® can ask questions and get answers using AI. If those answers feel complicated or hard to understand, AI can explain them in a way that’s easier to understand. 

AI can also help with things like math formulas, such as calculating PMI, down payments, tax rates and more. 

5. Write or Edit Code 

“You don’t have to be a skilled, trained programmer anymore,” Grant shared. “You can build your own website with AI in no time. You can also build an app, and more.” 

Realtors® can find AI helpful for coding a website or app, and they can prompt it to consider factors such as search engine optimization and user friendliness. 

Be Aware Of… 

Grant said the only limitation anyone should have with AI is their own imagination, but there are some things Realtors® should be aware of when using AI platforms like ChatGPT, Google Gemini or Claude (which were the three he recommended beginners choose from).  

1. Accuracy 

AI’s source is the internet, and the internet is not always correct. This means that AI is not always accurate in the information it gives. Moreover, if AI doesn’t have an answer, it will make one up. That’s called “AI hallucination.” 

Grant stressed the importance of remembering that AI can do 90% of the work, but the user must do the last 10%. This includes fact-checking, analyzing sources and checking for things like grammar and clarity. 

2. Misrepresentation for Profit 

While he noted that it’s unlikely that AI-generated content would ever be at risk of violating copyright law, it is important for Realtors® to avoid misrepresenting it as their own for profit. If they publish and sell a book that was AI-generated but claim it as their own, they could face legal consequences. 

3. Ethical and Legal Considerations 

There are many ethical and legal considerations when it comes to AI usage in real estate.  

One example Grant shared is the violation of fair housing laws. Because AI is biased, it can generate biased and hateful content if the prompt isn’t specific enough. Realtors® can specify in their prompts which laws they want their AI to comply with (for example, the federal Fair Housing Act, Pennsylvania Human Relations Act and NAR Code of Ethics) to help avoid this, but they should always review all AI-generated content themselves before sharing. 

PAR Chief Legal Officer Hank Lerner shared some AI guidance for Realtors® in this JustListed article. 

Learn More About Using AI in Real Estate 

Will AI overtake the real estate industry? 

“Anyone who thinks AI is going to hurt the real estate profession, I think it’s the exact opposite,” Grant said. “Implementing AI to do work better and faster will allow you to have more time to focus on customer service.” 

Learn more ways to use AI in real estate, more about legal and ethical considerations, specific AI platform recommendations, tips, tricks and more by viewing the webinar recording and related resources.