Real estate agents are learning about the positive aspects that real estate artificial intelligence can have on their businesses. Everything from designing call scripts, writing listing descriptions, and website chat interaction with visitors can leverage this new technology. Learning about these new AI tools now may bring significant productivity gains in the future.
Real Estate Artificial Intelligence: Writing Tools for Agents
One of the more well-known AI tools and much in the news is ChatGPT. This technology is a language model, and it is meant to produce very natural human language results.
The technology lists the following capabilities:
- Remembers what user said earlier in the conversation
- Allows user to provide follow-up corrections
- Trained to decline inappropriate requests
It also lists the following limitations:
- May occasionally generate incorrect information
- May occasionally produce harmful instructions or biased content
- Limited knowledge of world and events after 2021
However, a few concerns around this technology have given some pause for concern. Some of these concerns are relatively benign. However, users should be aware of the following:
- There have been significant security breaches in the technology
- Privacy concerns relate to the use of information without user’s consent
- Nobody outside the company knows what data it was trained on
- Some bias appears in results
Most importantly for real estate agents, ChatGPT may produce answers that result in discrimination against minority groups, gender, and race. Agents who use ChatGPT should review and confirm everything the technology produces to be sure no bias or discrimination is apparent.
Competitors to ChatGPT for Real Estate Artificial Intelligence
AI tools similar to ChatGPT include AnyWord, Bard, and Bing Chat.
Similar to ChatGPT, Anyword is a natural language generator. However, this AI tool takes things much further by allowing companies to integrate the technology into their marketing program.
The technology lists the following capabilities:
- Connect website, social, email, and ad channels to Anyword
- Combine past performance with Anyword’s proprietary data set of billions of marketing assets
- Anyword learns what works for a company’s marketing by analyzing every piece of copy published on website, ads, social, and email channels.
- Allows users to define brand rules and manage messaging and tone of voice with target audiences
Limitations with Anyword include:
- Expense–somewhat cost prohibitive
- For additional features, users have to pay significantly more
- Users must review and edit the content it generates for quality and accuracy
Bard is a natural language generator from Google. Given this provenance, users may think it will become the dominant AI tool for use on the internet. It already offers more features than ChatGPT. It also allows users a lot of functionality for real estate artificial intelligence.
The benefits of using Bard include:
- Able to understand prompts through both text and speech
- Offers real-time access to websites
- Has many extensions through plugins to other technology platforms
Limitations noted by the technology:
- Currently is still experimental
- May provide inaccurate responses
- Could give inappropriate, unoriginal, or repetitive results
- Does not cite its sources or provide links to statements of fact
Featuring integration directly into Microsoft’s Edge search engine, Bing Chat offers an extremely easy experience for users to leverage real estate artificial intelligence directly in their workspace. As a result, users do not have to switch tabs or enter different programs to benefit from this AI tool. However, this technology does not offer the same type of results and experiences users of ChatGPT might expect.
Capabilities of Bing Chat include:
- Provides summarizations and answers tot he content users view online
- Lets users explore the internet without losing their chat
- Allows users to leverage chat to compare options
- Enables faster decisions with the sidebar functionality
- Lets users create AI-generated images
Limitations of Bing Chat include the following:
- Responses not as good as ChatGPT
- Unable to provide long-form responses
- Does not have a robust creative response
- Chats and sessions are limited to prevent overwhelming the system
What Should Agents Do About Real Estate Artificial Intelligence?
The best thing agents should do about real estate artificial intelligence is to learn first before buying into a new technology. Each of the writing platforms has pros and cons, and there are still many other technologies that offer similar functionality. Agents may find one tool to be particularly helpful with online interactions, and another tool to be useful for their content generation.
Additionally, there are many other AI tools available, and the technology can even create images and other content:
Quillbot: AI tool that paraphrases content, enhancing vocabulary, tone, and style
EvyAI: Plugin for Linkedin to generate value-added responses and posts to improve your credibility and engagement
Evyrgreen AI Course: Entire course on how to use artificial intelligence for business development
Ultimately, AI technology is rapidly evolving, adding more features and becoming easier to use. Competition may hold down the cost of adoption for many agents. However, a technology like Anyword offers a significant amount of value for marketing programs. Therefore, a serious review of costs versus benefits is warranted should an agent consider adopting that specific technology.
Contact Us to Learn More About Real Estate Artificial Intelligence
Keller Williams Arizona Realty is known as the best Scottsdale real estate brokerage. An extensive amount of coaching and training programs help agents get into production quickly and grow their real estate business. Our Coaching Program propels agents into success in their careers with a structured approach to learning the business. Keller Williams’ proprietary Command Technology gives our agents a full suite of industry-leading tools and resources to manage their business.
Contact our Leadership Team members today to learn more about us, our culture, real estate artificial intelligence, and why you should join Keller Williams Arizona Realty.
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