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Will AI replace realtors? Embrace it to stay competitive

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You don’t need to worry about artificial intelligence taking over your job, but the realtor using AI down the hallway can potentially take your business.

This technology is the single most powerful tool that humans have ever had. The AI locomotive left the station on November 30, 2022. Now, it’s a bullet train hurtling down the tracks and can’t be stopped.

What’s important to understand about artificial intelligence and being in real estate is that AI will take over your remedial tasks such as social media posts, marketing, identifying real estate trends and creating newsletters. The result for you as a realtor is spending less time on the computer and more time with clients or finding new clients to grow your sphere.

 

How realtors are using AI

 

Currently, most realtors are using AI for their property descriptions and email responses. But AI goes way beyond simple language output. It’s now generating lyrical songs for your social media posts about your properties and creating AI videos about the local real estate market. 

With OpenAI dropping a bomb on the entertainment industry by introducing us to SORA, an AI system that can create 60-second videos from a simple one-line command, you can create real estate videos completely generated by AI. What’s more impressive is the simplicity of using this technology.

 

Most AI language models are now free

 

One thing that shocked me about this technology is that some of the most powerful AI language models are free to use. A lot of people missed the announcement by OpenAI (developers of ChatGPT 3.5, 4 and now 4o) that all the versions of ChatGPT will soon be free to everyone. Currently, to get access to ChatGPT 4, you have to pay a subscription every month. Here in Canada, we should see the rollout this summer.

When I’m talking to realtors about artificial intelligence language models, they mainly talk about ChatGPT. The reality is that AI has exploded since late 2022 with close to 12,000 AI tools being developed. In the past 12 months, we’ve seen tools like META AI, Claude, CoPilot, Gemini and more each month. The most amazing part is that all of these AI language models are free to use.

 

What should I be using AI for in real estate?

 

The real estate world is constantly changing, and the reality is that we need to upgrade our skills or learn new tools to keep up. This is where AI can help! Here are just a few examples of the ways AI can assist:

Negotiation. When you’re negotiating, whether it’s with your clients or the other agent, you simply prompt the AI by saying:

“I want you to act as a real estate negotiator. I’m representing the buyers in the transaction, and we just received a counter of $20,000 above our initial offer on the property. The counteroffer put the price right at the fair market value. Can you provide me with three different scripts I can use to speak to my buying clients to say this counteroffer is exactly the fair market value of the property?”

Social media posts. It can be challenging to consistently create new and engaging social media content. Try prompting AI with the following:

“I want you to act as a real estate social media marketing expert. Create three social media captions that target first-time homebuyers. I want the captions to be engaging and witty. Also, include in the caption emojis, hashtags and an image prompt that’s related to the caption.”

Real estate coach. Did you know that you can now have a verbal conversation with the ChatGPT app? Now you can ask ChatGPT to be your real estate coach. Here’s a great example of a prompt that I use to coach me:

“I want you to act as a real estate coach. Grade me on the opening of my listing presentation. I want you to listen to the quality of the content for a listing presentation, plus my energy, cadence and anything else. Let me begin…”

 

Final words about artificial intelligence

 

Engaging with AI in real estate isn’t optional — it’s essential for staying competitive. By automating tasks, AI empowers agents to focus on relationships and complex decisions. Don’t wait; embrace AI now to streamline operations and enhance client interactions. The future belongs to those who adapt and innovate with this technology.

 


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