Since the recent release of OpenAI’s ChatGPT (and Microsoft’s subsequent implementation of that tool), the masses are finally able to see the potential of what artificial intelligence can do. And you know what? It’s actually quite amazing! That said, the biggest question we’re seeing is – how can we utilize AI to help grow your business as a real estate agent? While the technology is still super new, and various tools are still being developed (meaning, it’s far from perfect) – there’s a lot you can do to work these tools into your daily workflow.
Predictive Analytics and Lead Generation
One of the significant benefits of AI is its ability to analyze data and make sales predictions based on available information (such as sales history, demographics, and countless other data points). While the models are still being trained, apps such as Homesnap and Compass’ internal agent section of their app give every property a score on the likelihood of a home being listed. Being able to selectively identify leads and prioritize them accordingly can have huge time and money saving benefits.
Chatbots and Messengers
Chatbots have been around quite a while, but for the longest time they simply weren’t that great. To get a little technical for a second, the bots were not adequate at passing what is called the Turing Test. What is the Turing Test? Originally developed in the 1950’s – the Turing Test was created as a way to measure a machine’s ability to exhibit intelligent behavior equivalent to, or indistinguishable from, that of a human. To pass the Turing Test, a chatbot must be able to engage in natural language conversations with a human, convincing them that they are also human and not a machine. Needless to say, current bots are passing that test with flying colors. Chatbots can help real estate agents save time and money by answering frequently asked questions, provide information about properties, and scheduling appointments. Chatbots can also learn from conversations with clients and improve their responses over time, making them more efficient.
Creating compelling content is the secret to attracting people to your website. The problem is that it’s super time consuming AND super difficult. With tools like ChatGPT, agents can now use AI to help develop content that can be shared. While we wouldn’t say it’s advisable to completely lean on these tools to write EVERYTHING (they’re very good at sounding convincing, even if the information is flat out wrong) – these tools can help agents be more efficient at writing.
Create Marketing Graphics / Logos
While we wouldn’t say image-focused generative AI programs such as MidJourney can replace an experienced graphic designer, we do think using these tools can at the very least provide layout inspiration that can then be sent to your graphic designer – or done DIY via apps such as Canva. Regardless, not having to fumble around with a layout can be a huge time saver. Spoiler: The featured image of this article was generated by AI!