ChatGPT takes on real estate: Agents say the AI could be a game changer in the industry
Century 21 Beggins Enterprises on its website lists a “beautiful” three-bedroom condo in Madeira Beach, Florida with “large spacious balconies to enjoy the warm, beautiful views.”
“This is one of the only properties available on the Gulf Beach islands that’s totally pet friendly,” the listing reads. “Secure your piece of paradise at The Residences at Madeira Beach Town Center. Welcome home.”
If you’re tempted to buy the listing, thank ChatGPT. The text above was written by the free artificial intelligence computer program.
Real estate agents across the country are turning to the program to help write up listing descriptions and content scripts, as first reported by CNN.
“We’re using it every day,” said Mike Puma, chief marketing officer at Century 21 Beggins, who uses ChatGPT to write content like social media posts or video scripts for real estate agents. “(This allows) them to spend more time on what they do best.”
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How much does ChatGPT cost?
While ChatGPT is free for now, OpenAI’s official Discord server in January said the company was “starting to think about how to monetize ChatGPT” to “continue improving and maintaining the service.”
Real estate agents told USA TODAY they believe the tool would be well worth the money.
“We’ve been playing around with different AI platforms for years now and none of them have been very good,” Puma said. With ChatGPT, “we can now build really unique things on top of this that make the agents’ life even easier.”
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What are ChatGPT’s limits?
ChatGPT has proven to be useful, but it’s not perfect.
Its popularity means it regularly reaches full capacity, forcing users to wait their turn to use the program. And because it was trained with writing from the internet up to 2021, some of its information is outdated.
Conroy from NAR warned that anything generated with AI should be thoroughly reviewed by licensed professionals. That includes listing descriptions; he notes that NAR’s code of ethics prohibits the exaggeration or misrepresentation of pertinent facts.
“There could be scenarios where listing descriptions created by using AI could unintentionally include language or descriptions that are not intended or even violate fair housing laws,” Conroy said in an emailed statement. “It is important to remember that real estate professionals have a responsibility to their clients to be honest and truthful.”
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