How Real Estate Professionals Can Take Advantage of ChatGPT

In this edition of my article, we will examine the use cases of ChatGPT for Real Estate Professionals.

As the real estate industry increasingly adopts digital solutions, agents must embrace cutting-edge technologies to streamline their operations and stay ahead of the competition. One such technology gaining rapid popularity is chatbots, with ChatGPT leading the way.

ChatGPT, also known as Generative Pre-trained Transformer 3, is an advanced AI language model developed by OpenAI. Its remarkable ability to generate human-like responses to natural language queries makes it an invaluable tool for real estate agents seeking to deliver prompt and efficient customer service.

In this blog post, we will delve into the advantages of incorporating ChatGPT into real estate agent workflows and offer practical tips for successful implementation in your business.

Why ChatGPT is a game-changer for real estate agents

Before we get into why ChatGPT is a game changer...

First, to answer what ChatGPT is, I had it write the explanation itself.

I typed in “”Give me a 50 word explanation that a 5 year would understand” and it said:

ChatGPT is a computer program that can carry on a conversation with a person. It can answer questions, tell stories, and even make jokes! It uses a special set of rules and a lot of information it has learned to understand what you’re saying and come up with a response. ChatGPT is not a real person, but it can do a good job of pretending to be one when you talk to it.

Then I answered that response with “now explain it for an adult so they get a better understanding”:

ChatGPT is a natural language processing (NLP) model that has been trained to generate human-like text based on a given input. It uses a combination of machine learning techniques and a large dataset of human conversation to learn the patterns and structures of natural language. When given a prompt, ChatGPT can generate a response that is coherent and follows the rules of grammar and syntax. It can also be fine-tuned for specific tasks or domains, such as answering questions about a particular topic or generating descriptions of products. While ChatGPT is not capable of understanding or comprehending the meaning of the text it generates, it can produce text that appears to be written by a human and engage in conversation in a way that is similar to how a human would.

It’s an incredibly useful tool *IF* you know how to use it...

Let’s be clear though, it’s not perfect. It can’t replace your expertise. It can enhance your productivity. For example, something that used to take me 2-4 hours to write can be done now in 1. What it spits out is generic in many cases but its faster and easier to edit the generic into something valuable than starting from scratch.

My recommendation is to have it help you write, not write for you. You’re mostly limited by your imagination. So let’s give you some examples of how you can use it now:

Emails

Not sure what to say to someone? Have it draft a response. You can even write a rough draft and say “rewrite this professionally.”

Need an auto-responder written but not sure what to say? Ask it to write one for you. This may not be as good as having an actual copywriter write it but it’ll get the job done and for many, done is better than perfect. You can get this written quickly and live and then come back and refine later.

You can bet in the next 6-24 months we’ll see email programs that will pre-write replies to every email you get and you just have to approve the response.

Drip Campaigns

Writing a single email is one thing, but it can serve as a foundation for creating an entire drip campaign. Instead of aiming for perfection, focusing on completion is key. The more specific and detailed your requests, the better the outcome.

For instance, instead of requesting a generic drip campaign for new leads, provide clear instructions like "Please create a drip campaign for individuals who have requested a free home value report. The campaign should consist of six emails, each containing a question to encourage a reply and valuable information about selling their home."

Refinement is crucial, particularly in such specific scenarios. This is where ChatGPT excels. You can interact with it, provide feedback, and request specific improvements. It's an iterative process that significantly cuts down content creation time by 60-80%.

Ads

Writing ads is an ideal use case for ChatGPT. While the initial ads may not be flawless, my tests and experiments with prompting have shown that the ads I generated for a realtor client have actually outperformed others. However, when I mix a few pieces from different variations and combine them with my clients writing style, the results are quite similar. This significantly reduces the time spent on ad writing.

The key to success lies in providing specific instructions for copy styles. Instead of a generic request like "Write an ad for a free home valuation report," you can specify "Write a direct response ad for a home valuation report following the AIDA copywriting framework."

AIDA stands for Attention, Interest, Desire, Action, which is a well-known and effective approach.

I have also found success using other techniques like PAS (Problem, Agitate, Solution) and Before-After-Bridge when the AIDA version didn't meet my expectations. Sometimes, I request shorter or longer versions, turning the ad into a story, or adopting a more casual tone.

With numerous variations available, this method significantly expedites the ad creation process. If you're unfamiliar with proper copywriting techniques, ChatGPT can generate better ads than an inexperienced individual.

Content Outlines

Need some content outlines? You can ask it to write it out for you. I wouldn’t rely on it to create the content itself or it’ll be very generic and not valuable to your readers. It can create?a good outline for the type of content and spark ideas for you.?

For example, I typed in “write an outline for a home value report” and here’s what it came up with:

I. Introduction

• Purpose of the home value report
• How the report was created

II. Property information

• Address and location of the property
• Description of the property (e.g. type of home, number of bedrooms, bathrooms, square footage)
• Features and amenities (e.g. garage, pool, finished basement)

III. Market analysis

• Overview of the local housing market
• Comparison to similar homes in the area
• Analysis of recent sales data

IV. Home value estimate

• Estimated value of the property based on market data and property information
• Range of possible values

V. Factors affecting home value

• Condition of the property
• Location and neighborhood
• Recent renovations or updates

VI. Conclusion

• Recap of key points
• Suggestions for next steps (e.g. seeking a professional appraisal, updating the property to increase value)
• Contact information for any questions or further assistance

A great place to start from!

Listing Descriptions

I went on Realtor.ca and grabbed a random listing description.

Here’s what I copied:

Stunning* 4Bed/5Bath New Home, On Rare, Nearly 1/2 Acre Lot Minutes To All Amenities. Luxurious Finishes & Design, $$$$ In Upgrades Including Hardwood Throughout, Quartz Countertop/Bksplsh In Kitchen, Frendel Custom Kitchen Cabinets, Waffle Ceiling In Family Room W/Gas F/P, Lg Primary Bed W/5 Pc Bath And Immense W/I Closet. Finished Bsmt. W/Lg Rec Room, Electric F/P, & 3Pc Bath. *See Attached List Of Upgrades/Features!* $214.95/Mo Fee Incl. Rd Maint./Garbage**** EXTRAS **** Bosch S/S Fridge, B/I Oven, B/I Microwave, B/I Gas Cook, S/S D/W, W/D. Gdo W/2 Remotes, Central Vac And Attchmts., All Window Coverings, Elf’s *Excluding Fam.Rm Light Fix. & 2nd Bd. Light Fix.*

I now told ChatGPT to rewrite it and it produced this:?

A luxurious 4 bedroom, 5 bathroom home with numerous upgrades, including hardwood flooring, quartz countertops and backsplash, custom Frendel kitchen cabinets, and a waffle ceiling in the family room with a gas fireplace. The large primary bedroom includes a 5 piece bathroom and a spacious walk-in closet. The finished basement boasts a large recreational room, electric fireplace, and a 3 piece bathroom. This new home is situated on a rare, nearly half acre lot that is minutes away from various amenities. The $214.95/mo fee includes road maintenance and garbage. Additional features include a Bosch stainless steel fridge, built-in oven, microwave, gas cooktop, dishwasher, washer/dryer, garage door opener with 2 remotes, central vac and attachments, all window coverings, and electric lights (excluding the family room and second bedroom fixtures). See the attached list of upgrades and features for more information.

Now I can expand with something like “write an email to my email list promoting this property with a call to action to book a private showing”:

Dear [Name],

I am excited to announce a new property that has just come on the market and would be the perfect fit for your family! This stunning 4 bedroom, 5 bathroom home boasts luxurious finishes and design, with numerous upgrades including hardwood flooring throughout, a quartz countertop and backsplash in the kitchen, custom Frendel kitchen cabinets, and a waffle ceiling in the family room with a gas fireplace. The large primary bedroom includes a 5 piece bathroom and a spacious walk-in closet. The finished basement features a large recreational room, electric fireplace, and a 3 piece bathroom.

This new home is situated on a rare, nearly half acre lot that is minutes away from various amenities. The $214.95/mo fee includes road maintenance and garbage. Additional features include a Bosch stainless steel fridge, built-in oven, microwave, gas cooktop, dishwasher, washer/dryer, garage door opener with 2 remotes, central vac and attachments, all window coverings, and electric lights (excluding the family room and second bedroom fixtures).

If you’re interested in seeing this property in person, please don’t hesitate to contact me to schedule a private showing. I would love to assist you in finding your dream home.

Best regards,

[Your Name]

Now I follow that up with “Write a LinkedIn caption for the property” and I get:

"Exciting announcement! Introducing a true gem in the real estate market. This upgraded 4-bedroom, 5-bathroom home embodies luxury at its finest. From the meticulous craftsmanship to the top-of-the-line finishes, every aspect has been carefully curated for a truly exceptional living experience. Don't miss the opportunity to explore this remarkable property. Book your private showing today and discover the epitome of elegance! ??? #LuxuryRealEstate #DreamHome #PrivateShowing #RealEstateInvestment"

This last one is a great example. It’s a decent post but I’d personally not use those hashtags. They’re too generic. They won’t actually help discoverability in your area. Is it better than what a lot of people in the industry put out? Absolutely. It also did it in just a few seconds.

Brainstorming

Whether you're brainstorming ideas for your blog, email subjects, or attention-grabbing headlines, ChatGPT can be a valuable tool. For instance, you can write a blog post and use ChatGPT to generate 10 different titles. It's just a matter of making some minor edits, and you're ready to go.

Not satisfied with the generated suggestions? No worries! You can ask for new variations tailored to your preferences. Request more or less clickbait style, punchier wording, or a more professional tone - ChatGPT can adapt to your needs.

By leveraging ChatGPT, you can significantly reduce the time spent on content creation. It helps overcome writer's block and provides you with fresh ideas. However, it's important to remember that ChatGPT can't replace your expertise, unique talents, and the qualities that make people want to work with you. Your personal style and touch remain essential.

Make the most of ChatGPT to enhance your productivity and accomplish more. But remember, it's crucial to edit and refine the content generated by ChatGPT. Simply relying on AI-written content without any editing won't yield the desired results, especially for blog posts. Google can identify AI-generated content, and you may not rank as well if your content is entirely AI-written.

That's all for this week's edition.

Comment and let me know if you tried it and your results

Till next time...