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Unless you’ve been living under a rock or on a remote desert island, you’ve probably heard of ChatGPT. Chat Generative Pre-trained Transformer or ChatGPT is a chatbot developed by OpenAI that became available online on November 30, 2022. It can be a game changer for your productivity and real estate business. If you’re curious about how to use ChatGPT for real estate, read on to learn my 12 favorite applications for this innovative AI tool.
OpenAI, the company behind the scenes of ChatGPT, is in partnership with Microsoft, so we can be sure that it’s here to stay. They are already making improvements to the user interface. Until October 2023, ChatGPT could only access data up to 2021, but it can now access real-time data across the internet. However, access to real-time data and web searching are only available for Plus and Enterprise users using the GPT-4 model who have enabled “Browse with Bing”. A free version is available and has plenty of uses for agents and brokers.
12 ways to use ChatGPT for real estate agents and brokers
You may have thought to yourself, “I’m a real estate agent, not a computer programmer. How on Earth is this going to help me?” There are hundreds of ways to use ChatGPT for real estate and in your business as a real estate agent. From helping with endless writing tasks to summarizing market data, the possibilities are almost endless.
Let me introduce you to my friend Chatty. I use it so often that I have given it the nickname Chatty because I feel like she is a colleague of mine. I’ve tried many, many ways to ask ChatGPT for help. Some results have been amazing, and some were just so-so. Most recently, I used it to help me write the weekly newsletters that I send to my mailing list. Here’s the latest one I wrote about Zillow. I’ll share what I’ve learned and some helpful prompts that have worked for me.
Getting started with ChatGPT
If you’re unsure how to get started, here are three quick steps to get you going. First, go to https://chat.openai.com. Under the heading “get started” click “sign up”. Follow the prompts to use your email or sign in with your social media accounts. It’s free and easy, so why not give it a try!
1. Email campaigns
Create personalized email content for your clients, delivering valuable information and nurturing relationships. One of the great things about using ChatGPT for real estate emails is that they can really be personalized. So many of us see the generic emails that are provided by our CRMs and cringe. Make your emails convey your personal brand and messaging with help from ChatGPT.
2. Property descriptions
Generate compelling property descriptions and listings using ChatGPT, making your listings stand out in the market. We’ve all written the generic “welcome home to this stunning 3-bedroom colonial home, set on a beautifully landscaped lot, blah blah blah.” Don’t be that person. Write something that will get eyes on your listing and stop the scroll.
3. Social media posts
Create engaging social media posts and content to boost your online presence and connect with a wider audience. Facebook, Instagram, and LinkedIn are free marketing, and if you aren’t using these social media platforms as an agent, you are missing out. ChatGPT can help real estate agents quickly and easily create content ideas, captions, and hashtag lists specific to each platform.
4. Content marketing
Create blog posts, articles, and guides about various real estate topics, showcasing your industry and local area knowledge and attracting organic traffic to your website. Longer form written content such as blog posts and LinkedIn articles are part of a savvy agent’s content marketing strategy. Well-written, SEO content can help drive your website traffic, position you as a subject matter expert, and build your newsletter audience. If you aren’t a gifted writer or don’t enjoy it, let ChatGPT do the heavy lifting. I often use it to write quick and accurate social media captions. Here is one about using ChatGPT for generating auto-responses, and I used ChatGPT for the caption, talk about meta!
5. Neighborhood information
Provide clients with detailed information about local neighborhoods, schools, amenities, and other factors that influence their buying decisions. With access to real-time data, you can use ChatGPT to create neighborhood guides that list the hottest coffee shops, the greenest dog parks, and the best schools in your area.
6. Answers to common questions
Develop a comprehensive list of frequently asked questions and use ChatGPT to provide instant, accurate responses on your website or social media platforms, ensuring clients have access to the information they need. You can even take this information to create PDFs or printable resources for use at open houses.
7. Automated email responses
Set up automated email responses using ChatGPT to acknowledge inquiries and provide basic information to potential clients. Have you ever stopped to think how many times you type the same reply to someone in your business? Got a new listing and people keep asking the same questions? Automate it with Chat GPT. This can save you time and ensure a prompt response rate.
8. Market reports
Generate comprehensive market reports to share with clients, demonstrating your expertise in the local real estate market. One of the things that can help establish newer agents who don’t have a strong sales history is local market knowledge. Using ChatGPT to generate real estate information and packaging it for clients is a great way to show that you know what you’re doing and understand your market.
9. Language translation
Utilize ChatGPT for real estate transactions that may be in another language. If you are unilingual and have clients who speak a different language or who don’t speak English natively, ChatGPT can help. Your ability to provide multilingual answers and documents, and break down language barriers will help you to support a broader range of clients.
10. Create buyer and seller guides
Use ChatGPT for real estate guides. It can swiftly and accurately create detailed guides that you can provide to potential buyers or sellers. These can include to-do lists, advice, timelines, an overview of what a home inspection is, an explanation of the closing process, and FAQs. It can be totally customized to your needs as a real estate agent.
11. Write video scripts
If you like to provide video content to your clients and social media audiences, use ChatGPT to create detailed scripts for you to use. Some people are natural in front of the camera. If you are but still need a little help remembering your lines, use ChatGPT. If you aren’t and have no idea what to say, you too can use ChatGPT to draft a script for your next YouTube video, IG reel or story, or Loom explainer video that you want to share with clients.
12. Market insights
Stay updated on the latest market trends and statistics by asking ChatGPT to provide real-time data and insights. All of our associations send out monthly reports, but having more up-to-date information is much better. This data can be used just for your own reference or you can use the information to create social media posts, blog articles, or as information for your clients.
BONUS: Realtor® résumé
I may be alone in this, but I am trying hard to get Realtor® Résumés to catch on. I think the more professionally we can present ourselves as agents, the more seriously we will be taken as an industry. ChatGPT can help you to generate a résumé that highlights your skills, experience, and certifications.
Best practices for writing ChatGPT prompts
Part of the trick to getting ChatGPT to do what you want is training it. No, seriously. It needs to learn your style, and you need to give Chatty good instructions. There are some general guidelines to use for getting the best results. Don’t worry about getting things perfect the first time. Two of the tricks I’ve leveraged are refining my prompts and asking ChatGPT to regenerate the response so I can get different or better answers.
Writing good prompts for ChatGPT is essential to receive accurate and valuable responses. Here are some tips for creating effective prompts when using ChatGPT for real estate agents.
Be clear and specific
Provide clear and specific information about what you’re seeking. Instead of asking, “Tell me about the housing market,” ask, “Can you provide recent sales data for single-family homes in the 90210 ZIP code?” (Who knows what popular show that zip code is a throwback to?)
Use open-ended questions
Frame questions in an open-ended manner to encourage more detailed and informative responses. For instance, ask, “What are the most important factors to consider when pricing a property for sale?” You could ask a yes or no question, but what good is that? Get as much substance and detail as you can. As an example, here’s ChatGPT’s reply to my query about home pricing:
Break down complex questions
If you have a multi-part question, consider breaking it down into multiple simpler questions. This can result in more accurate and comprehensive responses. ChatGPT has a nifty copy function (look for the little clipboard icon) so you can quickly and easily copy the results into a document to organize later.
Include context
When relevant, provide context to help ChatGPT understand the subject or background of your question. For example, “In the current seller’s market, what strategies can buyers use to negotiate better deals?”
Specify data and sources
If you need data or information from a specific source, indicate it in the prompt. For instance, “Please provide median home prices in Miami for the last 12 months from reliable sources.” And if you forget to be so specific in your initial prompt, don’t hesitate to ask ChatGPT to refine the response. As an example, here’s ChatGPT’s reply to my query about Miami:
Avoid jargon
Keep in mind that not all users may be familiar with real estate jargon. Use plain language or provide explanations for complex terms when necessary. You can use industry-specific language in your prompt, but be sure the output you receive is something that can be understood by non-agents.
Test and iterate
Start with simple prompts and refine them as you gain a better understanding of how ChatGPT responds. Experiment and test different phrasings and structures to see which yields the best results. As I said before, you can’t break anything.
Request step-by-step guidance
If you want ChatGPT to help with a process, ask for step-by-step instructions. For instance, “Can you guide me through the process of creating a comparative market analysis for a property?”
SEE ALSO: How to prepare a comparative market analysis (CMA) report
Check for consistency
Ensure that the information provided in responses aligns with your knowledge and real estate standards. It is possible that ChatGPT provides a response based on the rules and practices of one state, but your state operates differently. Cross-reference with trusted sources when necessary.
Avoid leading questions
Try to keep your questions neutral and avoid leading questions that might inadvertently bias the responses. You may have certain religious or political beliefs, or even just opinions about the housing market, but try to keep those out of your prompts. You want to ensure that the output is relevant and applicable to all clients.
The full picture: ChatGPT for real estate
These are not hard and fast rules. There is no wrong way to use ChatGPT. These are recommendations that will save you some leg work and hopefully generate useful responses to use in your business. By following these guidelines, you can improve the quality and relevance of responses you receive from ChatGPT and make it a valuable tool for your real estate needs.
As creepy as it may seem, the more you use ChatGPT for real estate needs, the better she will get. She will learn your style, your voice, and how you like the information presented. And if you’re wondering why I use female pronouns for ChatGPT, it’s because she’s wicked smart and always has the answers I need.
My ChatGPT cheat sheet for real estate agents
Not sure where to start or what to ask? Use these 20 prompts with ChatGPT to create content and resources to use in your real estate business.
“Can you provide a brief overview of the factors that affect property valuations?”
“What are some effective home staging tips to make properties more appealing to potential buyers?”
“Give me insights into the current real estate market trends in [Your City].”
“What should I consider when advising a client on purchasing an investment property?”
“Can you create a guide for first-time homebuyers on the steps to purchasing a home?”
“What strategies can sellers use in a competitive real estate market to maximize their returns?”
“Assist me in writing a compelling listing description for a suburban family home with three bedrooms and a backyard.”
“Share some effective negotiation techniques for real estate transactions.”
“Explain the basic types of mortgages and their pros and cons to help me educate my clients.”
“Provide me with a list of essential questions to ask during a client consultation for home buyers.”
“Can you help me create a checklist for hosting a successful open house event?”
“Outline the legal steps required for closing a home sale in [State or Country].”
“List the amenities and public services available near [Address or Neighborhood].”
“Calculate the monthly mortgage payment for a home priced at $[Amount] with a down payment of $[Amount].”
“Compare the neighborhoods of [Location 1] and [Location 2] in terms of real estate prices.”
“Provide a list of schools and their ratings in the [specified area].”
“Create a checklist for organizing an open house at [Property Address] on [Date].”
“Estimate the cost of renovating the kitchen and bathrooms in a home located at [Address].”
“Draft a basic lease agreement for a rental property located at [Address].”
These prompts are just the tip of the iceberg. I’ve tried to cover a range of topics that can help you use ChatGPT in your business, but feel free to explore and experiment. You can’t break anything, and ChatGPT won’t get mad at you.
Work smarter, not harder
So now that you’ve gotten an overview of how to use ChatGPT, let it work for you and lessen your workload. Don’t be afraid to try new things. Soon enough, Chatty will be your best friend too.
Have a ChatGPT prompt that worked for you? Share it in the comments.