Real estate mediation, all over the world, welcomed ChatGPT with great enthusiasm and curiosity. This Artificial Intelligence tool is the most sophisticated launched to date, and is supported by a language model based on deep learning. This Complete Guide explains how ChatGPT can help a Real Estate Agent, how to use it and valuable tips to make the most of this extraordinary Artificial Intelligence software.
This guide to using ChatGPT in 2024Â offers a detailed look at how real estate agents can take advantage of this powerful artificial intelligence tool to improve their performance, communication and productivity.
Index
- What is ChatGPT?
- How does ChatGPT work ?
- How to use ChatGPT?
- How can ChatGPT help a real estate agent?
- Communication between the real estate agent and his clients
- Marketing
- Administrative Tasks
- Training , knowledge acquisition and technical support
- Practical tips for real estate agents
- Advantages and disadvantages of ChatGPT for the real estate agent
- Conclusions
What is ChatGPT?(Topâ–²)
ChatGPT is an advanced language model developed by the company OpenAI, based on the Generative Pre-Trained Transformer-GPT architecture. GPTs are Artificial Intelligence systems capable of:
- " Generate " content such as text, audio, images and video. The models are
- " P "re-trained based on a large amount of data from the internet (including conversations) and other sources (books, articles and information, etc.) and use
- " T "transformers to identify patterns and predict the most appropriate word to continue a sentence.
How does ChatGPT work? (Topâ–²)
Being the most powerful language model today, its operation is relatively simple: it is trained with a large amount of data, so it can answer questions accurately and naturally, as if it were a human .
In short, the model uses a combination of grammar rules, semantic analysis, and pre-trained responses to generate a response, progressively developing a language model that adapts to any context. Over time, you will improve your learning as you receive more data and feedback from users.
How to use ChatGPT? (Topâ–²)
First you will have to access the link chat.openai.com/chat and register. You can register and log in with your Google or Microsoft email account.
How to use ChatGPT on a computer? (Topâ–²)
Regardless of your device, you can always use your browser (Chrome, Edge, Safari, Firefox, etc.) to access ChatGPT, just go to chat.openai.com/chat .
But there is a faster way to avoid having to repeat this task every time, just create a Windows application from the web page.
If you have the Chrome browser installed here is a tip:
How to use ChatGPT on a smartphone or tablet?(Topâ–²)
Unfortunately there is not yet an APP version of ChatGPT, so you will have to use the browser on your cell phone or tablet and access the website .
I have an Apple computer or notebook, how can I use ChatGPT? (Topâ–²)
There is a way to create an App using MacGPT . MacGPT is an application developed for macOS that allows users to quickly access ChatGPT from the menu bar. It's safe and it's free (just put 0 in the price box when downloading).
Thanks to its generic learning model, ChatGPT can adapt to different roles with equal success and performance: as a translator, famous poet or writer, computer programmer, musician, lawyer, creator of gastronomic recipes, lyricist, etc. Try it and you will be surprised!
How can ChatGPT help a real estate agent? (Topâ–²)
The versatility of this tool allows real estate agents to use it in different ways to improve all of their services. Let's name a few:
ChatGPT has an API library and can be integrated into chat, email and social media platforms, allowing real estate agents to respond automatically and in a personalized way to customer questions. But for now, it is a task that is not easy for most agents to implement, but above all it has risks. Due to the limitations of ChatGPT, described below, some caution is necessary. A home buyer cannot be treated like any other buyer, he likes to talk to humans and understand if he can place his trust in the agent. Remember, this is a people-to-people business .
Communication between the real estate agent and his clients (Topâ–²)
However, there are many ways to take advantage of ChatGPT in the communication process between a agent and their clients, here are some suggestions:
1- Management of emails and messages (Topâ–²)
ChatGPT can help with writing and responding to emails and messages, allowing the agent to focus on more important tasks. One way is to paste the text from the customer's email and ask GPT Chat to respond. See the example below. I advise you to always read the answer given by ChatGPT carefully and give the text a personal touch.
2- Writing detailed and attractive property descriptions (Topâ–²)
Discover the innovation that is revolutionizing real estate mediation around the world! Leave behind telegraphic descriptions full of spelling and syntax errors. I present you 2 options forI work with ChatGPT to elevate the quality of your real estate ads:
- Improve your existing description: Provide ChatGPT with an initial version of your listing description, mentioning the property's features, and receive back an improved, captivating version of this text.
- Create a personalized ad: Ask ChatGPT to create a generic ad, based on the characteristics provided, and receive unique and engaging text.
For even better results, customize ChatGPT's writing to your needs by providing detailed information. The more complete the input given, the better the description:
- the language
- the purpose : sale, rental, etc.
- the sales price or rental conditions;
- the purchasing customer segment : low, medium or medium-high / luxury;
- the location : the floor, street, neighborhood and town. E.g. " Rua da Indústria, in the Alcântara neighborhood, in Lisbon ".
- the type of housing : house, apartment, plot of land, penthouse, building, etc. How many rooms it has, the number of bedrooms, the number of bathrooms and other rooms, etc. You can also indicate the areas for each division.
- the condition of the property : in design, under construction, new, used but in good condition, to be remodeled, in ruins, etc.
- the areas : gross construction area, useful area, area of the plot of land, garden or terrace (if applicable).
- the general characteristics : whether it has an elevator, whether it is new, whether it is urban or rustic land, whether the lot has an approved project, etc.
- the specific characteristics (what kitchen equipment is available, type of air conditioning, type of windows, home automation, electric shutters, fireplace, garden, swimming pool, outbuildings, etc.)
- etc.
The normal tendency of ChatGPT is to construct impersonal and informative texts, ask you to construct an attractive narrative: "Develop an engaging story about the house, highlighting its unique characteristics, history and potential.".
Explore the different examples I prepared for you and discover the differences in the text generated by ChatGPT. Take a step forward in your real estate strategy and attract more customers with captivating and personalized ads!
3- Communication in multiple languages (Topâ–²)
Although Google Translate has evolved considerably in recent years, supported by an Artificial Intelligence engine, it still has significant flaws in terms of semantic errors, due to the lack of contextualization in the translation. In my opinion, ChatGPT demonstrates superior performance. Now, it is no longer necessary to take a Mandarin course to respond to a Chinese client , or translate the description of your properties . Leave this task to ChatGPT!Its language model has been trained to translate between multiple languages and dialects , including the following: English, Spanish, French, German, Italian, Portuguese, Chinese (Mandarin), Japanese, Korean, Russian, Arabic, Dutch, Swedish, Danish, Norwegian, Finnish, Turkish, Polish, Hebrew, Greek, Czech, Hungarian, Romanian, Ukrainian and Thai . Furthermore, it can be used to check the quality of translations that you have previously carried out.
4- Preparation of personalized market reports and comparative analyzes (Topâ–²)
One of the characteristics that distinguishes a Top Agent from the rest is the type of feedback he sends to owners. Sending reports with promotion statistics, number of visits and detailed results about them, allows you to reassure your customers and show the quality of the work carried out. Remember: " Those who don't know are like those who don't see and are still forced to believe what others say " - Welivelton Jhony.
ChatGPT helps to produce reports, based on the " inputs" you can provide, helping to prepare reports of: feedback on the mediation activity, and send periodically to the owners; relating to visits to properties, etc.
5- Create and perfect sales scripts (Topâ–²)
The real estate sales script is important because it guides each stage of the real estate sales funnel. of property acquisition, designed to contact customers, prospects and owners. If a client gets in touch by phone, WhatsApp or even arrives at the real estate agency by surprise, the seller will know how to proceed, will have a path to follow and close the deal.
If a client gets in touch by phone, email, WhatsApp, or by phone, it is important that the agent has a script that allows them to know what to say without hesitation and with confidence:
- Create a script, in a formal but affable tone, in Portuguese, for when an interested party wants to know more about a property.
6- Plan meetings, visits or events (Topâ–²)
Scheduling visits, meetings or holding open houses can be improved if you count on the help of ChatGPT for your planning. Before scheduling a visit, plan it with the help of ChatGPT, providing information about the type of property to visit and the customer's profile, thus requesting detailed planning of the visit.
If you want to hold an event to publicize a house, such as an Open Houses, presentation cocktail, or other, ask ChatGPT for help, they will give you a work plan.
Marketing (Topâ–²)
Real estate advisors can use ChatGPT to streamline and streamline marketing tasks, allowing them to focus on personalized customer service. Some possibilities include:
1- Plan and adjust the marketing strategy (Topâ–²)
Real estate mediation is an increasingly competitive activity. Investing in Marketing is not an option, it is an obligation and ChatGPT is great at outlining Marketing strategies. Where to start? What to do? Whether you are a rookie or a Top Agent, here is a set of useful questions:
- I am a real estate agent in Oeiras, Portugal, what is the marketing strategy to promote my name locally?
2- Creating content for your Blog/Website or Social Networks (Topâ–²)
With a simple question " 10 ideas for a post on my blog about homes for generation Z ", in 5In seconds, ChatGPT gives you 10 original suggestions for creating an article or post on social media.Choose the option you like best and ask ChatGPT to produce the article, suggest the type of image and, if necessary, translate it into the language you want. Faster than this is not possible.
3- Creation of newsletters / email marketing campaigns (Topâ–²)
This is a task that requires creativity, and this is one of the most surprising features of ChatGPT. It can help you by providing suggestions on topics and articles to include in the Newsletter or to create a mass-email campaign.
4- Commercial Campaigns (Topâ–²)
ChatGPT can assist you in creating advertising campaigns, providing you with inspiration and themes for the campaign, its texts and slogans;
Administrative Tasks (Topâ–²)
Preparation of standardized contracts and legal documents, drafting of "legal" letters, collection letters, etc. etc.
Training, knowledge acquisition and technical support (Topâ–²)
ChatGPT can also be a learning tool for real estate agents who want to improve their skills. The platform can provide you with articles and explanations on:
- Information on market trends and sector analysis
- Training and resources related to the real estate sector
- Suggestions for innovative sales strategies and techniques
Making the most of ChatGPT: practical tips for real estate agents (Topâ–²)
Apparently, no big lessons are needed: just ask and ChatGPT responds. Simple, isn't it? Well, it's never that simple when it comes to language and its use in a given context. Here are some suggestions for making the most of ChatGPT's capabilities:
Suggest, Create and Review
These are 3 types of approach where ChatGPT stands out and whatever the topic, it will be able to help you:
- " Suggest me 10 ideas for a Christmas publication in Cascais";
- " Create a text for a post to be published on social media, about Christmas traditions and festivities in Cascais, with an image";
- " Review the previous text, improve it and write an adapted version for Brazilians visiting Portugal"
Be specific and provide context
The more specific the question, the greater your satisfaction with the answer. If the answer is too general, rephrase the question or add more information.
If you ask " A description of the advantages of living in a house ", try adding the location or country to the question, for example, " ... in Oeiras, Portugal? ". You will see that the answer adapts to your location. The more details you provide, the more contextualized and assertive ChatGPT's response will be.
Some examples: " A description for a detached house, completely renovated, with 4 bedrooms, 2 living rooms, with garden and swimming pool, 3 bathrooms, located on a plot of 400 m2 and a gross construction area of 220 m2, in Quinta dos Lombos, Carcavelos, Cascais ".
Click on the image gallery below to see several examples, try them and be surprised:
Regenerate the answer - If the answer is not suitable, click on the " Regenerate" buttonresponse" in the window footer.ChatGPT will delete the response given and restart the conversation. Try rephrasing the question, providing more context. One suggestion: ChatGPT tends to respond using Brazilian Portuguese or relate the response to the Brazilian reality. Therefore, start or end questions with "..., in Portugal?" contributes to adapting the response to the Portuguese reality.
Talk, don't just ask - ChatGPT often behaves like a 5 year old, trying to learn about the topic being discussed to better understand the questions. Ask additional questions to refine the answer and help the system better understand what you want. Stick with the question and provide feedback, such as " give me more options " or " I'm not satisfied with the answer ", among others. As the conversation progresses, with more questions and answers related to the initial question, ChatGPT learns and better adjusts to the desired answer.
Be patient and creative - The desired answer does not always come after the first question. Insist and provide more details, rephrase the question, or approach the subject from another perspective. Be creative with your questions and be surprised by the answers.
Get more accurate translations - Despite being registered and providing some personal data, answers may be influenced by commonly used languages, such as Brazilian Portuguese. To avoid this, formulate the request as follows: " Translate from Portuguese in Portugal... "...text to be translated..." ... into English in the United Kingdom ".
Request a specific type of text or translation - Inform ChatGPT about the purpose of the translation or composition of the desired text, for example, " Give me a legal translation of... ", " Write a technical article about... ", or " Write a formal response to this email... ", etc. You will see that the tone and style of the response changes.
Provide a text - In addition to the ability to generate texts "on demand", ChatGPT can be inspired and create a new text based on an existing one, adapting it to new situations or requirements. For example, you can create real estate property descriptions from pre-existing writing. Simply provide this text to ChatGPT and ask it to create an improved version. Thanks to its advanced natural language processing technology, ChatGPT has the ability to read and understand content, and then generate new material of high quality and relevance, taking advantage of its sophisticated artificial intelligence.
Advantages and disadvantages of ChatGPT for the real estate agent (Top▲)
The list is not that long but the disadvantages must be taken into account:
- Inaccurate or uninformed responses - Because GPTs are trained through trial and error, they are only as accurate as the data and algorithms they are based on. It may generate answers that are technically correct, but not completely contextually accurate. As a result, some conversations with chatbots can lead to frustration and confusion. Verification of the information generated is essential.
- Lack of common sense - Although ChatGPT can generate human-like responses and has access to a large amount of information, it does not have human-level common sense and lacks the knowledge we have. This means that it can sometimes provide nonsensical or inaccurate answers.
- Lack of emotional intelligence - ChatGPT generates responses that appear empathetic, but lacks true emotional intelligence. Cannot detect subtle emotions or respond appropriately to complex emotional situations.
- Limitations in understanding context - ChatGPT has difficulty understanding context, especially sarcasm and humor. May have difficulty capturing subtle nuances of human communication, responding inappropriately or irrelevantly.
- Limited knowledge - While ChatGPT has access to a lot of information, the sources of information it has been trained with are limited and pre-2021. It may not answer very specific questions or be up to date with recent developments in certain fields.
- Difficulty generating long content - ChatGPT has problems generating long, structured content. It is more suitable for generating short content, such as summaries or brief explanations, although version 4.0 promises to address this shortcoming.
- Grammar issues - ChatGPT's sensitivity to grammatical and spelling errors is limited. I give an example of this in the aforementioned poem.
And what are the main advantages of ChatGPT? The list would be endless, but I will listthe ones that I consider most important for real estate activity:
- Speed - Try comparing the time it takes to get a response, using a search engine or browsing the Internet, with the time it takes to get it from ChatGPT. One of the most impressive advantages is the speed with which ChatGPT provides information that would take tens of minutes or even hours to obtain.
- Versatility - Change the subject, change the location, change the language, change the professional activity, change to a more informal or more professional tone and ChatGPT changes and adapts like a chameleon.
- Multilingual - ChatGPT has the information that supports its answers in dozens of languages. Masters the semantic and syntax rules of at least 25 languages reasonably well.
- Solving complex problems - Version 4.0 further improves this functionality. We give it a set of inputs and it analyzes it and suggests a solution or a plan.For example:
- Question: "I need to visit 3 clients on the same day, Ana, José and Maria and I have to have lunch with Maria. I live in Oeiras, Ana lives in Setúbal, José lives in Lisbon and Maria lives in Cascais How should I organize my schedule? ". Answer: First, go to Lisbon and visit José, as it is the closest place to Oeiras. Afterwards, head to Cascais for lunch with Maria, as it is relatively close to Lisbon. After lunch, end the day visiting Ana in Setúbal, and then return to Oeiras. This sequence of visits minimizes the total distance covered and takes advantage of lunch time to meet Maria in Cascais ."
- It's Free - Although there is a monthly subscription for those who want faster access to the service, ChatGPT is free to use. Try hiring a human assistant, providing them with a space and working conditions, setting a work schedule, etc....because ChatGPT doesn't have lunch, doesn't need a workplace, works 24x24h - 365 days/year and doesn't charge anything, Oh and I don't pay taxes. We are spoken ;);
- Personalization - ChatGPT adapts to the interlocutor and learns from them the best way to respond. The answer differs depending on the way the question is asked and the resulting conversation. It's like a "tailor's assistant" that provides the user-tailored response service.
- He's good at Portuguese and Mathematics ;) - Writes original texts, corrects the spelling/semantics/syntax of texts we provide, synthesizes or expands texts, translates... in short, "it's a blast to write". Math is even better! Try asking him: "Give me an Excel formula to calculate the IMT of a property" and be surprised!
- Creativity - Although this predicate is reserved for humans, anyone who uses ChatGPT cannot help but be surprised by the ease with which it suggests ideas, which a human assistant would have difficulty following, with the same response time and with the same creativity.
- For a human, creativity needs a favorable context: being on the right day, having time to think, being inspired by many sources and then grinding and straining the "gears of the brain" until an idea emerges. ChatGPT triggers ideas, a dozen at a time :)
- One way to ask the question is to quantify the answer: "Give me 10 suggestions for a Father's Day post that has something to do with real estate and family." In 5 seconds I have 10 creative suggestions.I choose one and ask: "Write the text of the post based on suggestion 10, in a more elaborate and well-designed way and suggest an image", the answer appears after another 5 seconds (it would take longer if it were a human creative to give it) :
Conclusions (Topâ–²)
ChatGPT is a powerful and versatile tool that can revolutionize the way real estate agents work and interact with their clients. By adopting this technology, professionals in the sector will be able to improve their communication, efficiency and professional development, providing an excellent service to their clients.
Above all, the speed and quality of many tasks will increase, and you can alternatively use this time to dedicate to your clients.
This 2023 usage guide is just the beginning; explore and discover how ChatGPT can boost your real estate business.