Gorgeous three-bedroom, two-bathroom home in peaceful Sauganash! Enjoy hardwood floors throughout, cozy living room with fireplace, separate dining room, updated kitchen with stainless steel appliances and granite counters. Main level includes two bedrooms and a full bath. Upper level boasts spacious master suite with full bath and ample closet space. Full unfinished basement and large backyard perfect for entertaining. Two-car garage. Located near parks, shopping, dining. Don’t miss this exceptional opportunity to own in desirable Sauganash!
Sounds like a nice place, right? Sadly, it doesn’t exist. That fictional home listing was created using ChatGPT, a no-cost AI chatbot that’s gaining fast popularity. Especially among Realtors.
ChatGPT was launched by OpenAI in November 2022 and immediately impressed users with its thoughtful, coherent responses to user prompts. Ask Chat GPT any question, give it any command, and the result is surprisingly logical. (And mostly typo-free.) For example, as seen above: “Write a listing for a three-bedroom, two-bathroom home in the Sauganash neighborhood of Chicago. Be descriptive.”
Not good enough? Ask ChatGPT to try again: “Be more specific about the neighborhood.” And voila:
Located on a quiet street, this home offers a peaceful retreat from the bustling city while still being in close proximity to all the amenities that Sauganash has to offer. The neighborhood is known for its picturesque tree-lined streets, friendly community, and top-rated schools.
Naturally, agents are jumping at the chance to automate the time-consuming aspects of their jobs. Namely, the dreaded listing writing. And while creativity may seem key to an effective listing, ChatGPT mimics the desired industry lingo, dropping real estate buzzwords with apparent ease.
It takes the program less than a minute to generate your average home listing.
In a recent report, CNN spoke to a number of Realtors across the nation who now consider ChatGPT integral to their work process. “I’ve been using it for more than a month, and I can’t remember the last time something has wowed me this much,” Andres Asion, a broker from the Miami Real Estate Group, told CNN.
And ChatGPT does more than just churn out home descriptions. Another Miami agent in the piece, Frank Trelles, of State Street Realty, said he uses ChatGPT to approximate potential mortgage payments — a task which would typically involve formulas and calculators. In that sense, the AI operates as a quicker, more personalized version of Google.
“I can ask ChatGPT what a mortgage payment would be on a $14 million purchase at a 7.2% interest rate amortized over 25 years with two origination points at closing, and in two seconds, it gives me that information,” Trelles said. “It also explains how it got the answer. It’s amazing.”
However, many professionals are skeptical of the technology. It’s not infallible and the final product still requires human review for both accuracy and tone. Also, ChatGPT may not be free for long. OpenAI is currently considering implementing a monthly charge of $42.
Based on its current reputation, though, many agents seem likely to pay the fee.
If you currently use ChatGPT in your real estate business, contact emily.mack@agentpublishing.com. We’d love to hear about your experience!