How real estate agents can use AI to get ahead
There has been an Artificial Intelligence revolution over the past 12 months that's rapidly shaping new futures for all kinds of industries.
The real estate world isn't exempt from this, and already there are plenty of user-friendly ways agents and agencies can leverage the growing power of AI to get the edge on rival businesses.
While property will always be a people-first game, working in tandem with AI tools like ChatGPT can help boost efficiency and effectiveness in all kinds of ways without needing a mountain of tech expertise. Here are just a few examples.
Create written content in a flash
For the uninitiated, ChatGPT is effectively a supercharged chatbot that will respond to just about any prompt you could think of giving it, capable of returning far more natural output than AI bots of the past.
One powerful use of ChatGPT that's already being widely put into practice across the web is content creation, and the applications are virtually limitless.
In a real estate context, it could assist with everything from writing suburb profiles and market updates to generating agent biographies, newsletter copy, phone scripts, pitches and listing descriptions.
It's also a great way to come up with new content ideas, whether that's for social media, weekly mailers or videos.
Any content created by ChatGPT will of course need to be fact checked, edited and personalised thoroughly, but at the very least it can offer a great starting point for any kind of copy an agent or agency may be required to create.
It's worthwhile experimenting with different prompts and parameters to get a better idea of the level of output you can expect. The more detail and direction you provide, the better the result should be.
Streamline lead generation and scoring
All of the above content creation methods can help out with lead generation, but there are a number of ways that ChatGPT can take things a step further.
For starters, it's able to collect and analyse data from all kinds of sources including listing portals, social platforms, public records and third-party providors.
From there it can do some data crunching to pick up on patters and categorise leads based on relevant details and behaviours, automating what can be an otherwise heavily manual process.
By making comparisons within larger data sets, ChatGPT can also learn to prioritise and score leads to allow you to focus on the most high-intent customers.
If any of this sounds complicated or confusing, clarification may be found direct from the source. Just ask ChatGPT any and every question you have about the process to get a clearer understanding of how it can help.
Automate online support and comms
One of the more traditional applications of AI is the small chatbot window we see in the corner of many websites across the Internet.
While past iterations of the online assistant may have proved infuriatingly basic, ChatGPT has completely changed the game.
Aside from the actually human-like abilities for the bot to converse, there's no limit to the amount of information and direction that can be fed in to ensure your virtual assistant has enough guidance to offer accurate and genuinely helpful answers to customers.
Whether it's offering around-the-clock help, scheduling appointments or providing more information about a listing, utilising ChatGPT as an online assistant can be a big time saver.
Implementation generally isn't tricky, either. Once again, ChatGPT itself can provide specific information about how to get a service up and running on your agency's site.
For other applications, the sky's the limit
Given the vast power of a tool like ChatGPT, or any other modern AI system for that matter, the only real limit to its usefulness is your imagination.
Help with admin, data analysis, live language translation, tailored property recommendations, communications, even generating virtual property tours - they're all avenues you can explore with AI.
One of the best places to start is by logging in and letting the ideas flow. The more you converse with ChatGPT and train it to understand your needs, the more potential you can unlock.
Just be mindful that AI isn't an outright replacement for the human user. Real estate will always be an incredibly personal industry, that's not going to change overnight.
Instead, think of ChatGPT as another tool in your toolbox to enhance and streamline your business.