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Real estate agents say they can’t imagine working without ChatGPT now

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If you stumbled upon a recently sold 4-bedroom, 3.5-bath home in a quiet cul-de-sac in Cedar Rapids, Iowa, you might not think twice about listing online.Including typical real estate Descriptions include ‘great for entertainment’ and ‘plenty of space to relax’.

But JJ Johannes, a residential real estate agent, said: created a description A viral new AI chatbot tool that can generate elaborate responses to user prompts in less than 5 seconds by typing a few keywords into ChatGPT. He said it was a task that took him over an hour to write alone.

“It saved me a lot of time,” Johannes told CNN, noting that he made some tweaks and edits to the ChatGPT work before publishing it. “It’s not perfect, but it was a great starting point. My background is in technology and it takes time to write something eloquent. This made it a lot easier.”

Johannes is one of the real estate agents Experimenting with ChatGPT Since its release in late November. Some residential and commercial agents told CNN they have already changed the way they work, from creating lists and social media posts to drafting legal documents. It can also be used to automate repetitive tasks such as answering frequently asked questions or performing complex calculations.

ChatGPT has been trained on vast amounts of online data to generate responses to user prompts. I write original essays, stories, lyrics, and summaries of research papers. deceived some scientistsSome CEOs use it Writing emails, doing accounting workeven that passed the exam at an Ivy League school. (however, concerns raised due to its potential to enable fraud and its inaccuracy.

in less than two months, ChatGPT has sparked debate for its potential to disrupt industries ranging from publishing to law. But it’s already having a tangible impact on the way many realtors across the country work.

“I’ve been using it for over a month now, and I can’t remember the last time I was so impressed,” said Miami Real Estate Group broker Andrés Asción.

A client recently reached out to Asion with a problem: Female I moved into a pre-construction house and couldn’t open the windows. She tried to contact the developer for months, but she got no response. Asion ran her copy of one of her emails through ChatGPT and asked her to rewrite it, highlighting the impact on her responsibilities.

“ChatGPT wrote it as a legal issue, but suddenly a developer showed up at her house,” he said.

Asion has also used this tool to draft legally binding addenda and other documents and send them to attorneys for approval. “I tweak all kinds of drafts on his ChatGPT,” he said. “Sometimes I tell them to keep it short or funny, but there are so many samples to choose from and edit.”

ChatGPT is free for now, but OpenAI, The company behind it reportedly $42. “It doesn’t matter,” says Asion, and will pay for access. “It’s easy to pay $100 or he $200 a year for something like this,” he said. “If I don’t, I won’t be satisfied.”

Frank Trelles, a commercial real estate agent for State Street Realty in Miami, said he would pay to keep using the tool. “Once I tried it, I was convinced,” he said. “I went to sign up for a package thinking it would cost me at least $100 a month, but I was surprised it was free. But nothing in this world is free – and that made me a little nervous.

Trelles uses ChatGPT to look up permitted uses for specific lands and zones in Miami-Dade County to calculate mortgage payments or return on investment for his clients. This typically includes formulas and mortgage calculations.

“I can get in the car with my clients when they ask me for mortgage payments,” Trelles said. If you ask how much your mortgage payment will be if you buy, you’ll get that information in 2 seconds, and also explain how you got the answer.

However, there are some limitations. For example, the tool used to struggle with some basic calculations. Trelles says it’s a useful approximation on the go, rather than an exact number.

Serge Reda, executive and adjunct professor of commercial real estate at the Fordham Real Estate Institute, said some use cases of ChatGPT are better than others. ChatGPT helps brokers save time when building lists and responses, but automating customer responses may not be the best tactic.

“It’s free, and anyone can access it now to experience how this powerful tool works. But obviously there are serious limitations,” he said.

ChatGPT is generating a wave of interest among realtors, Incorporating artificial intelligence into the real estate market is nothing new. For example, listing site Zillow uses AI for 3D mapping to create automated floor plans, and its Zestimate tool scans photos to determine if a home has hardwood floors or stainless steel appliances. so that its price quotes better reflect market conditions. Earlier this week, Zillow rolled out an AI feature that allows potential buyers to search in a more natural language (something Google has long mastered).

Zillow spokesman Matt Kreamer said the real estate industry has been slow to innovate, but “I think we’ll see much more progress in the near future.” He said Jiro There are no obvious concerns about using ChatGPT to streamline what agents are already doing and save time.

“We are not promoting or disliking ChatGPT, but we are interested in how it is used and monitored,” he said.

It’s too early to tell if the tool will become a real estate workhorse, but real estate agent Johannes believes AI will transform his job in general. industry and others.

“It may not apply to ChatGPT, but I believe that some form of artificial intelligence like this will become a big part of how we work and live.”

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