Goodbye Google. The AI revolution is here, and we get it too.
I'm sure some of you have seen what is going on with the AI revolution. Maybe you even played with it. I am not talking about the Lensa AI app and all those new profile pics we see on Facebook, either. I am referring to AI Chat/Text bot called ChatGPT. I don't know who gave it such an awkward name, but it is incredible. It should have been Jarvis, "computer," or let us name it ourselves.
Let's cut to the chase, if you thought of yourself as a good googler, you now need to step your game up. Google is like the yellow pages compared to this tool. A bold statement to make for a billion-dollar company, right? I'm so edgy…
Coming from an IT background, we rank each other on how good someone is at troubleshooting and learning. So we always boast our google skills or ability to look up programming code solutions on places like GitHub. With AI, it will be about knowing how to ask the right questions, syntax, and how to take the answers/results into your project.
ChatGPT is a powerful natural language processing tool that can be used in various fields, including real estate. With chatGPT, real estate agents can quickly generate personalized and engaging content for their websites, social media, and other online platforms.
You guys, this is nuts. Watch:
I asked it to write a property description for a 3&2, 3,000 square feet, newly remodeled, great views, and 10/10 schools.
This was the output:
This stunning, newly remodeled home boasts 3 bedrooms and 2 bathrooms and a spacious 3,000 square feet of living space. The views from this property are breathtaking, with panoramic vistas that will take your breath away.
Inside, you'll find a beautifully updated kitchen with a large island, stainless steel appliances, and plenty of storage space. The bathrooms have also been updated, featuring modern fixtures and spa-like features.
But the real selling point of this property is its location. It is located in a highly desirable neighborhood with excellent schools and a strong sense of community. The schools in this area are rated 10/10, making it the perfect place to raise a family.
Overall, this is a truly special property that must be seen to be believed. Don't miss your opportunity to make this beautiful house your new home.
Then a social media post:
Just listed! This stunning 3 bed, 2 bath home with panoramic views and newly remodeled interiors. Located in a top-rated school district, this is the perfect family home. Don't miss your chance to make it yours. Contact us for more information and to schedule a showing. #realestate #dreamhome #newlylisted
Another way that chatGPT can also be used in real estate is to assist with customer service. With chatGPT, real estate agents can set up automated chatbots to answer common questions from potential buyers and renters. This can help to free up their time and allow them to focus on more critical tasks, such as showing properties and closing deals.
Okay, cool, but how can ChatGPT help me in this down market?
Let's ask:
Here are ten potential steps that realtors can take to help attract buyers and sellers in a down market:
Understand the local market: In order to be successful in a down market, it is important to have a thorough understanding of the local real estate market and the factors that are driving it. This might include things like economic conditions, housing supply and demand, and demographic trends.
Develop a strong online presence: In today's digital world, having a strong online presence is crucial for realtors. This might include things like having a professional website, maintaining an active social media presence, and using online tools and platforms to connect with potential buyers and sellers.
Offer competitive pricing: In a down market, buyers and sellers may be more price-sensitive than usual, so it is important to offer competitive pricing that reflects the current market conditions. This might mean offering lower commission rates, or providing incentives and discounts to buyers and sellers.
Be flexible and adaptable: A down market can be a challenging and unpredictable environment, so it is important to be flexible and adaptable in order to succeed. This might mean being open to new marketing strategies, trying different approaches to working with buyers and sellers, and being willing to adjust your business plan as needed.
Network and build relationships: Building strong relationships with other real estate professionals, as well as with potential buyers and sellers, can be a valuable way to attract new business in a down market. This might include things like attending industry events, joining local real estate organizations, and networking with other professionals.
Provide value and expertise: In a down market, buyers and sellers may be looking for guidance and support, so it is important to position yourself as a valuable and knowledgeable resource. This might mean providing helpful information, offering advice and suggestions, and demonstrating your expertise in the local market.
Be proactive and responsive: In a down market, buyers and sellers may be more hesitant and less likely to take action, so it is important to be proactive and responsive in order to engage with them. This might mean being the first to reach out to potential buyers and sellers, following up promptly on leads, and being available and responsive to their needs.
Differentiate yourself from the competition: In a down market, there may be more competition for buyers and sellers, so it is important to differentiate yourself from other realtors. This might mean highlighting your unique skills and experiences, offering unique services or packages, and providing a compelling reason for buyers and sellers to work with you.
Be persistent and consistent: Attracting buyers and sellers in a down market can be a challenging and time-consuming process, so it is important to be persistent and consistent in your efforts. This might mean continuing to market and promote your services, following up with leads and contacts, and staying focused on your goals and objectives.
Stay positive and optimistic: A down market can be a difficult and stressful environment, but staying positive and optimistic can be an important factor in your success. This might mean maintaining a positive attitude, focusing on the opportunities that are available, and believing in yourself and your abilities. By staying positive and focused, you can increase your chances of attracting buyers and sellers in a down market.
Of course, this needs more context and retooling, but it's impressive.
🗣️
But Joe, I need to recruit
To recruit experienced realtors in a down market, you will need to focus on highlighting the benefits and opportunities of joining your team. Here are a few steps you can take:
Identify the unique value proposition of your team and the services you offer to clients. This could include training, support, and access to resources that can help realtors succeed in a down market.
Create a compelling recruitment message that showcases the benefits of joining your team, such as the opportunity to work with experienced professionals, access to a strong network, and the potential for growth and success.
Use targeted marketing and outreach efforts to reach experienced realtors, such as attending industry events, networking, and using social media and other online platforms.
Offer competitive compensation and benefits packages, as well as ongoing support and training to help realtors succeed.
Foster a positive and supportive team culture that encourages collaboration and personal growth. This can help to attract and retain experienced realtors.
Okay, I'm done giving examples for now. Copying and pasting are different from what makes this a success. It's about taking the answer and retooling it for you. That is where skill comes in. Google will still live on, but more like the yellow pages.
I have so many ideas. If I ask, this tool can push out code for an entire website or app. But it's all about knowing how to ask and what to do with the results. So go give it a try.