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rtificial intelligence is transforming the real estate industry, with agents increasingly relying on AI tools to automate tasks and enhance their services. Laura Fitzpatrick of @properties Christie's International Real Estate in Wilmette was initially hesitant but has found ChatGPT to be "wildly helpful" in streamlining administrative work.
A January 2024 survey by Delta Media Group found that nearly 80% of leading brokerages had adopted AI technology, with 75% of agents using it. Crafting property listings was the most common use, followed by marketing materials and generating emails, blog posts, and letters. Justin Greenberg of Berkshire Hathaway HomeServices Chicago began experimenting with ChatGPT to generate listings and was impressed with its time-saving capabilities.
Tony Mattar of COMPASS uses AI for tasks such as writing new email and drip campaigns for target audiences. He believes that AI is a natural fit for his business, allowing him to quickly create content and tailor it to specific groups. Greenberg upgraded to the paid version of ChatGPT, unlocking its full potential to generate content and integrate with other programs.
Fitzpatrick uses AI primarily on the back end of her business, providing neighborhood information for clients. She generates exhaustive lists of restaurants, schools, and happenings to build into blog posts and guides, adding value for her clients. Mattar uses virtual staging AI to add furniture to balcony images almost instantly, a significant improvement over traditional turnaround times.
Despite concerns that AI removes the human touch from business transactions, Fitzpatrick believes it enhances relationships by freeing up time for more personal interactions. Greenberg sees AI as a tool that frees him from time-consuming tasks, enabling him to focus on face-to-face relationships with clients. Mattar advises agents to transition to using AI to stay competitive and not be left behind by their peers.
Fitzpatrick recommends asking questions of the platform and treating it like a person to get the most out of it. Greenberg suggests trying ChatGPT as an easy entry point into AI, while Mattar encourages agents to be open to new technologies and willing to learn and grow.
