Vancouver Realtor Richard Morrison has spent the last three months with his online team creating a free GPT-4 powered AI tool called AI Realtor Assistant for the Metro Vancouver real estate market. .
Just a few days after its launch, hundreds of people are already using it.
“I never imagined this would be possible,” Morrison told CTV News, adding that the bot uses public information such as the MLS database.
Similar to Chat GPT, users type in questions about real estate posted on the website and the AI answers instantly, but the AI’s knowledge is limited to Lower Mainland real estate.
“I know hospitals, fire stations, schools, daycares, etc. It helps homebuyers and sellers make decisions,” Morrison explained, adding that people can ask very specific questions.
“For example, there has been a significant rise in interest rates recently, and many homebuyers are cautious about how much that home will cost. You can ask questions like: So you could answer, ‘This is the income he needs based on the 5% interest rate,'” he continued.
Morrison, who has worked as a real estate agent in Vancouver for 20 years, hopes the tool will empower future home buyers and sellers.
Prospective homebuyer David McDonald was one of the early users of the tool.
“It’s such a great application,” he said. “I don’t think it will replace human interaction, but it will probably be more efficient. It will waste less time. and can come.”
AI Realtor Assistant is not the only AI tool used in the real estate market.
While many sites now allow people to virtually stage their homes, Morrison argues that agents should be transparent when using the software.
“To tell a real estate agent, ‘These images were generated by AI, what you see here is a concept model, and this is a real-life photograph of what the house will look like. There is a certain level of responsibility that needs to be disclosed.” Now,” he said.
While these tools are sophisticated, Morrison also said they are unlikely to replace human agents anytime soon.
