Agents are using artificial intelligence to save time and money in nearly every aspect of their business, and companies that embrace this new technological frontier may gain an edge in their industry as AI evolves.
Early adopters use AI to update their bios, create lists and social media posts, create artwork covering the bare walls of their homes for virtual tours, and quickly create video clips And all this within minutes of typing or dictating a prompt to make your headshot look perfect. Some early adopters say the time invested in learning how to use different platforms and different levels of AI is worth it. Videos that took hours to produce and scripts that were painstakingly crafted can now be completed in minutes.
Does this mean that robots will take over the industry and replace jobs traditionally held by humans? Not exactly. AI performance is determined by the data agents fed into the AI. It still requires a personal touch to get the facts and make the content your own. AI won’t replace agents, but it will help them stay at the top of their sphere of influence.
AI improves efficiency
Sean Cochran’s fame is in his TikTok videos (@thecowboyofrealestate). There, he wears a western hat and educates viewers about the market. A broker and real estate agent for eXp Realty LLC, Cochran uses multiple social media and his platforms to keep in regular contact with clients and prospects. Most of the time he comes up with topics himself, but admits that his ideas are “finite”. He uses his ChatGPT on OpenAI for original ideas on blogs, social media posts, and TikTok real estate.
“If you don’t know anything about writing, you can go to ChatGPT and say, ‘Could you give me 30 days of social media posts about living and working in Naperville, Illinois?'” ~24 seconds and all 30 ideas are done. Then say, “Write a 45-second video script for each idea,” and it will happen. Some may call it cheating, but that is debatable. The technology is there. ”
Cochrane still writes descriptions for his lists. He likes to rhyme and doesn’t need help with it. But he doesn’t always. “Realistically, if I had a big mental block that day, I could have content written to it,” he says. He also recommends using ChatGPT for email marketing. “I asked him to write an email, which gave him three leads.”
Cochran spends about an hour a day learning different AI platforms to simplify the marketing part of his job. He works on using AI to generate artwork for unfurnished listings and suggests his websites for agents who want to try it: midjourney.com, stablediffusionweb.com, openai.com/product/dall-e.
He has become an expert in integrating various technologies to create videos within minutes. Cochran uses speech synthesis tool Celebrities, which uses his AI version of his voice to narrate content written in ChatGPT.
“If you send your voice for a few seconds and read something and upload it, a lot of people won’t know it’s not you,” he says. He then pulls that content into Pictory.ai, creates a video to accompany the script, and within minutes uploads the entire package to Instagram.
But no finished product is perfect. The tone and inflection of the voice can be wrong, he said, and videos of cows can appear randomly when people are talking about the house. But you can change that.
Writing comments on the list sometimes delayed the work of Maicol Akintonde. He spent half an hour trying to figure out what to say, walked away, and waited until the next day to finish it. Now a real estate expert at Coldwell Banker, his Akintonde asks you to enter the general characteristics of the property into his ChatGTP and “create a description for this property.” Within seconds, he had put together a series of mostly satisfying remarks.
“Once I read them, I make a few modifications and regenerate them back into ChatGTP, and sometimes I get something that I can use,” he said. “Tasks that previously took hours or days are now completed within minutes.”
We also use it to create ads and generate blog posts related to our theme. Akintonde will schedule your Posts for publication online on a specific date, possibly up to six months in advance. Another way he uses his AI is to calculate the returns on real estate investments. He said he was careful to check for accuracy, but overall it was very helpful.
beware of mistakes
Kevin Van Eck, Executive Vice President of Innovation and Education at @properties Christie’s International Real Estate, recognizes the limitations of AI. “I’ve had agents with three arms in their headshots,” he said. “The AI seems to have problems with teeth and fingers. Either there are too many teeth, or too many people munching. I see a lot of people with six fingers.” and witnessed firsthand the pros and cons of using the technology.
One of the downsides is that the AI doesn’t understand fair housing rules, such as not including demographic information when describing communities in lists, so agents who don’t calibrate their jobs are at risk of violations. explained Van Eck. And if agents only know the basics and don’t understand how to give AI prompts that elicit unique answers, they get only standard, boilerplate information. “The term garbage within garbage applies here,” Van Eck said. “To get what you want, you have to learn how to use it effectively.”
Van Eck explained that the obvious advantages of using AI are efficiency, speed, and the ability to perform multimedia tasks without contracting a vendor.
He has seen agents use AI programs to reconstruct negative client feedback after screenings. Enlarge the photo without distorting the image. Turn your winter photos into summer. Sort through bulk emails and prioritize which emails should be read first. and craft a thoughtful reply.
Van Eck recently tested Poized.com, a speaking coach tool that works with Zoom and Teams to give agents feedback on how to improve their presentation skills, from word choice to eye contact and body language. . With so many options and levels of AI to choose from, Van Eck’s advice is to experiment with AI and learn how to use it effectively. Because then the AI will be more effective for you. For starters, he suggests his Stockimg.ai platform. For creating digital advertising and physical marketing stock.
AI can help predict the future
Damian Ng, senior vice president of technology at Anywhere Real Estate, focuses on how to hire more agents to help brokerage businesses grow. The company uses AI-driven data for his two purposes. Agent recruitment (identifying agents most likely to grow your business) and lead distribution (identifying agents most likely to close deals).
“AI has the ability to find hidden patterns in large amounts of data,” Ng explains. “Humans cannot process all that data. AI looks at history and predicts the future.”
Ng believes AI can help with many of the heavy lifting tasks that are done manually. The downside is that AI cannot do 100% of the work. Agents must provide information for AI to succeed.
“AI is only as good as the data you give it,” said Ng, noting that AI cannot tell the difference between good and bad input. “If you rely on it to provide a fully written explanation, you should fact-check the output.” The AI also doesn’t have the ability to tell you how it came to its conclusions. This is an important part of trusting that the information is correct. But Ng believes it will in the future.
On the other hand, AI can enhance the work of agents, freeing up time to build relationships with customers and deal with the emotional aspects of transactions.
“Real estate is a private business,” says Cochrane. “If you’re selling the house you grew up in, a robot can’t push you off the shelf, and it’s great to reassure you about school districts and share your personal experience buying a home because you live in Plainfield.” You can not.”
what lies ahead
Over time, Van Eck believes AI will become even more useful for contract work. However, even structured forms require some degree of data entry. He said that in states where officials draft documents freehand, AI can suggest better, more concise and enforceable ways of wording contracts.
Cochrane predicts that a small number of agents will take advantage of AI and “make leaps in income and knowledge.” But the majority of people simply don’t use it and will do things the old fashioned way. He encourages the group to take time to learn the technology available.
“The man who sold the carriage was not a fan of cars, but we are still here,” he said. “There are so many things that can help you do your job more efficiently and save time. A real estate agent’s job is to find prospects. You get more leads that connect with you, and conversations are more likely to result in deals.”
expert sources
Maicol Akintonde
real estate professional
coldwell bunker
Sean Cochrane
broker
eXp Realty LLC
Damien Ng
Senior Vice President of Technology
everywhere real estate
Kevin Van Eck
Executive Vice President, Innovation and Education
@properties Christie’s International Real Estate
