The adoption of artificial intelligence for commercial use has been growing exponentially in all industries since the popularization of generative chatbots. The benefits of this technology in increasing productivity and streamlining daily tasks are undeniable, but are tools such as ChatGPT something real estate agents should be investing their time in?
Well, the short answer is definitely. The fact is, AI applications are becoming an essential part of any business, and learning how to properly use it will be decisive in putting you ahead of the competition.
In this article, you will get to know more about AI chatbots and why you should start using them, as well as the benefits of ChatGPT for real estate agents.
What is an AI chatbot?
An AI chatbot, short for Artificial Intelligence chatbot, is a computer program designed to simulate human conversation and provide automated responses to user input.
AI chatbots often use a technology called generative AI, which is a subset of artificial intelligence that focuses on creating AI systems capable of generating new content or data that is contextually relevant and often indistinguishable from human-generated content.
In other words, they can generate human-like text, respond to user queries in a more natural and dynamic way, and perform tasks like content generation, translation, and personalization.
This makes chatbots more versatile and capable of handling a wide range of interactions and tasks in various industries.
Why is everyone talking about ChatGPT?
ChatGPT is the most popular AI chatbot on the internet. Its versatility and accessibility have led to its widespread adoption across various industries and applications, from customer support to content generation.
Developed by OpenAI and launched in November 2022, ChatGPT has reached 1 million users in 5 days. Instagram took 2.5 months to reach this mark.
Its capabilities are so impressive that many fear it will replace humans for certain jobs in the future.
Although it has impacted the labor market since was released, replacing humans for complex tasks is very unlikely since this technology is new and has a lot to improve. Furthermore, AI chatbots lack emotional intelligence, complex decision-making, creativity, ethical judgment, social interaction, and adaptability.
Instead, they are more likely to augment human capabilities and free up time for workers to focus on higher-level tasks that require uniquely human skills and qualities.
Advantages of using ChatGPT for commercial use
As you can notice, generative AI has many applications and can definitely enhance productivity for companies. Here are the advantages of using AI chatbots as ChatGPT in your business:
- Natural Language Understanding: ChatGPT has impressive natural language understanding capabilities, allowing it to engage in human-like text-based conversations and comprehend user queries effectively.
- Content Generation: It can generate high-quality and contextually relevant content, making it useful for tasks such as content creation, drafting, and writing assistance.
- Versatility: ChatGPT can be applied to a wide range of tasks across various domains, from answering questions and providing explanations to assisting with coding and creative writing.
- Availability: ChatGPT can provide 24/7 availability for customer support and assistance, ensuring timely responses to user queries, even outside of regular business hours.
- Scalability: It can handle a high volume of interactions simultaneously, making it a cost-effective solution for businesses looking to scale their customer support and engagement efforts.
Are there any disadvantages?
Although very impressive, ChatGPT also has some disadvantages:
- It’s not suitable for obtaining exact and up-to-date data.
- It doesn’t list references, so every piece of information should be double-checked.
- The accuracy of the answers depends on the quality of the prompts.
How ChatGPT can benefit real estate agents
Now that you have an overview of the technology behind ChatGPT and its capabilities, you might be thinking about how it can be used to improve your business as a real estate agent.
So, why not ask ChatGPT itself?
Prompt: “List 5 ways ChatGPT can benefit real state agents and add a short summary at the end.”
As you can see there are several uses for this technology in the real estate industry. So let’s dive deeper into a few of them.
Creating listing descriptions
ChatGPT is a fantastic tool for real estate agents when it comes to writing property descriptions for listings. It can save you a ton of time and make your listings shine.
Imagine just providing some key details about a property, like the number of bedrooms, square footage, and neighborhood, and then letting ChatGPT craft a compelling and engaging property description for you.
It not only speeds up the listing process but also ensures that your property descriptions are well-written and enticing to potential buyers or renters. Plus, you can fine-tune the generated descriptions to match your unique style and branding.
Prompt example
Task: Write a listing description for a 2 bedroom 1 bath flat for rent in London, UK. The flat was renovated in 2020 and has new furniture. It has one parking place and a balcony. It’s located in a lovely neighborhood 20 minutes from the city center, on a quiet and charming street. Close to markets and a shopping mall.
Context: I am a real estate agent listing a property on an online marketplace for my client.
Audience: People who will read this description are young couples with no kids and age around 30.
Goal: This description aims to make readers schedule an appointment to visit the flat.
Constraints: Maximum of 250 words.
Boosting your marketing efforts
ChatGPT can be a game-changer for real estate agents looking to enhance their marketing strategy.
It can whip up engaging and personalized content for your listings, blog posts, and social media. Just feed it with some property details, and voilà, you’ve got compelling descriptions that grab potential buyers’ attention.
But it doesn’t stop there! ChatGPT is a data wizard that helps you analyze market trends and client preferences, so you can tailor your marketing efforts for maximum impact.
Prompt example
Task: Write a compelling Google Ads Search Network description about a property available to rent in London, UK.
Context: I am a real estate agent promoting a property online using Google Ads Search Network.
Additional information: The property has 2 bedrooms and 1 bathroom. The flat was renovated in 2020 and has new furniture. It has one parking place and a balcony. It’s located in a lovely neighborhood 20 minutes from the city center, on a quiet and charming street. Close to markets and a shopping mall.
Audience: People who will read this description are young couples with no kids and age around 30.
Goal: This ad aims to make readers schedule an appointment to visit the flat.
Guidelines: Divide the description into two paragraphs. Name them “Paragraph one” and “Paragraph two”. Each paragraph is made of two sentences. The last sentence is a CTA. Use title case.
Constraints: Each paragraph has a length between 80 and 90 characters. Don’t use emojis.
Creating market reports
When it comes to crafting market reports, ChatGPT also comes in handy.
Instead of spending hours sifting through data, this tool can analyze market trends, pricing, and property statistics, delivering concise and valuable information.
ChatGPT also has the ability to summarize data into easy-to-understand insights. It can break down complex market data into digestible snippets that you can seamlessly incorporate into your reports.
Prompt example
Task: Provide a report about the real estate market trends in the Los Angeles, CA, area.
Guidelines: The report should contain information about square meter prices in different areas of the city, vacancy estimation, and the best areas to live.
Restrictions: Maximum of 250 words.
Streamlining your communication
Besides saving time on market reports, real estate agents can use ChatGPT to improve their overall communication with clients, making their buying journey smoother and more enjoyable.
From sending property details to drafting follow-up emails, ChatGPT can assist in crafting communication that resonates with clients.
Its ability to write informative and personalized messages makes communication with your clients more efficient and engaging.
If you want to add another layer of interactivity with your customers, you can also integrate your website chatbot with ChatGPT. This way, clients will be able to access relevant information about your company or the real estate market directly from your landing pages.
Prompt example
Task: Write an email template for a customer who is asking about visiting the London flat that is available for rent.
Guidelines: The email should be informative and raise interest for a visitation.
Restrictions: Maximum of 250 words.
Give keyword ideas
As a real estate agent, you probably know the importance of having your website listed on Google’s top positions for specific queries.
But how to find the right keywords your customers are searching for online?
Of course, you can use SEO tools such as SEMrush and Ahrefs. The point is that these tools are not free. Here it comes ChastGPT.
You can ask it to generate a list of highly relevant keywords specific to your real estate niche, whether it’s “Atlanta homes for sale” or “top real estate agents in Chicago.”
But this is not all, it can also provide you with insights on trending real estate topics, giving you an overview on what’s hot in the industry.
By consistently using these keywords and creating content around trending topics, you’ll not only boost your SEO but also establish yourself as a knowledgeable authority in the real estate game.
Prompt example
Task: List the most relevant keywords for real estate in the Atlanta, GA area.
Context: These keywords will be used to write blog articles.
Goal: Rank on top of Google search and drive traffic to the website.
Constraints: Maximum of 10 keywords.
Conclusion
ChatGPT is definitely a tool that real estate agents should embrace to stay ahead in this competitive industry.
This AI-powered chatbot offers numerous advantages for agents. From creating captivating listing descriptions to boosting marketing efforts, crafting market reports, streamlining communication, and generating keyword ideas, ChatGPT enhances productivity and efficiency.
Are you looking for help with the digital transformation of your real estate business? Feel free to contact our team of tech experts and we will be happy to assist you in taking this important step.
