Jan 19, 2023 - Real Estate

Miami real estate agents experiment with ChatGPT

A hand holds a smart phone with ChatGPT opened.

Is this the future of real estate? Photo: Gabby Jones/Bloomberg via Getty Images

What happens when you take the "real" out of real estate?

Driving the news: Real estate agents in Miami and across the country are experimenting with how the new artificial intelligence tool ChatGPT can be used to write house listings, communicate with developers and produce content.

The big picture: ChatGPT, which can generate remarkably cogent text based on simple prompts, is raising questions across industries about how the tool can augment work, or potentially replace workers.

Of note: ChatGPT has no idea whether anything it says is true, Axios' Emily Peck reports. Its developer, OpenAI, has warned users that it "may occasionally generate incorrect information."

Zoom in: Andres Asion, a broker and founder of Miami Real Estate Group, is working to educate real estate agents and brokers about how to use the tool, which he called a "total game-changer" for the industry.

  • He hosted his first workshop in December and plans to host another one soon for the Master Brokers Forum.
  • "Most people don't know what this is, so when I explain it to them they freak out," Asion told Axios.

How it works: Users can type a request like, "Write a listing for a 2-bed, 3-bath home in Miami," and within seconds, the bot will spit out an elegantly worded description.

  • Asion said he's used the tool to write listings and even a four-paragraph letter to a developer asking that they fix the windows at his client's home.

What they're saying: Madison Roberts, a real estate agent and vice president of RETECH Miami, told Axios that the industry hasn't widely embraced ChatGPT yet, but it's getting buzz.

  • Roberts said she can see ChatGPT's potential value as an assistant, helping craft newsletter content or setting up automated responses. But she doesn't think it will ever replace real estate agents.
  • "There will still always be agents," she said. "People will always want their hand held."

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