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fter the launch of ChatGPT in late 2022, residential real estate firms rushed to develop their own AI-powered tools. However, two years later, some industry leaders are tempering expectations about the technology's potential for revolutionizing the sector. Kael Goodman, co-founder and CEO of Marketproof, notes that while generative AI is still poised to transform the way agents work, its most advanced capabilities have yet to materialize.

    Goodman attributes this delay to the technology's ongoing struggles with accuracy, despite gradual improvements. As a result, firms are focusing on scaling existing tools and building upon established technologies rather than investing in cutting-edge innovations. Marketproof has taken this approach by launching its Marketing Center, a suite of AI-powered tools that leverage the company's vast dataset on new developments.

    Industry experts like Mike DelPrete predict that companies with robust back-end data, such as Marketproof and Zillow, will have an advantage in developing AI technology. Within the industry, AI has had the most significant impact on media and content creation, particularly for listings. Jeff Allen of CubiCasa notes that AI-powered tools can generate floor plans, virtually stage photos, and create virtual tours with less effort.

    Marketproof's latest additions join a growing list of AI rollouts from major residential firms, including Redfin's Ask Redfin virtual assistant and Zillow's expanded AI-powered search function. While these innovations hold promise for the future, they also underscore the need for caution in the short term, as the industry continues to navigate the limitations and potential of AI technology.