How ChatGPT and Other AI Can Impact Your Real Estate Business

What is ChatGPT and why is everyone talking about it?

ChatGPT is artificial intelligence, also known as AI. It was created by OpenAl and can have conversations. It’s free to use and, according to the website, “answers follow-up questions, admits its mistakes, challenges incorrect premises and rejects inappropriate requests.” So how can you use it in your real estate business?

“AI is really the next level of machines doing things,” said PAR First Vice President Bill Lublin. Lublin is an international speaker and trainer in technology and real estate.

“There are all kinds of AI you can use in real estate,” he added. “ChatGPT is getting a lot of attention now because it is the written word and it’s not badly written.”

However, Lublin cautioned Realtors® to not use ChatGPT as your go-to communication tool. Firstly, it is using crowd-sourced information, so you could be plagiarizing without even being aware. Instead, if you’re interested in ChatGPT, use it as a starting point, looking for examples and references, and then add your own twist, said Lublin.

“It’s a handy tool for people that don’t write well,” he added. “It is something you can lean into. AI can be the start of something you’re going to write, you can use it to brainstorm ideas. It can give you a base, but if you use their voice, it will be sort of grayscale. We can put color in the writing with our voices and provide authenticity.”

“There are some people who write property descriptions always the same,” said Lublin. “ChatGPT may help them do it better by giving new ideas. I always suggest doing it in your own voice though. You want to make sure what you put out under your name is good quality.”

While you don’t need to embrace ChatGPT, Lublin advises Realtors® to always keep updated on what is new in technology to be informed. “I always think you should start learning about it, it’s interesting to look at it. It’s like any technology, be aware, investigate and be careful in your adoption.”

And never send anything out without checking it first. Lublin said, “I asked it to write me real estate jokes and they were terrible.”