ChatGPT For Realtors & Alternatives

Let’s start with a Tweet from Sam Altman, the founder of OpenAI. This shows the value of an effective prompt for ChatGPT. Let’s explore prompts for real estate agents.

ChatGPT continues to amaze users across the globe. This sophisticated chatbot was developed by OpenAI and launched in November 2022. The user growth was astonishing, hitting over 1 million users in 5 days. How long is this compared to other platforms?

Netflix: 3.5 years

Facebook: 10 months

Spotify: 5 months

Instagram: 2.5 months

ChatGPT: 5 days 🤯

Time to reach 1 million users on ChatGPT

How about 100 million users?

Netflix: 10 years

Gmail: 5 years

Twitter: 5 years

Facebook: 4.5 years

WhatsApp: 3.5 years

Instagram: 2.5 years

TikTok: 9 months

ChatGPT: 2 months 🤯🤯🤯

ChatGPT continues to cause a stir online, with some showcasing how it replaced members of their team. While others display the remarkable creativity of the tool with less commercially focused prompts such as “write me a funny poem that rhymes about a real estate agent in 2023 who is dealing with a difficult buyer with unreasonable expectations.” The creativity, proper grammar, and ability to understand my query always impresses me.

What is ChatGPT?

ChatGPT is an advanced AI language model developed by OpenAI that can understand and generate human-like text based on the input it receives. Its capabilities make it an invaluable asset for real estate agents, acting as a real estate AI assistant that can automate and personalize communication, among other tasks.

The Role of AI in Real Estate

AI technology, particularly AI chatbots in real estate, is reshaping how agents interact with clients, manage listings, and perform market analysis. By automating routine tasks and providing data-driven insights, AI allows agents to focus on the human aspect of their work—building relationships and closing deals.

People across various industries started to ask, “how can this contribute to my business.” Real estate agents are no different and quickly took to ChatGPT to automate tasks and assist with creative work.

Not to mention as of writing this, ChatGPT has successfully completed the following.

Wharton MBA exam
US medical exam
Google Coding Interview for an experienced engineer with a starting salary of $183K

This guide shows you ways to use ChatGPT as a real estate agent.

How To Use ChatGPT in Real Estate

Given ChatGPT is in its infancy, real estate agents are trying to think of ways this advanced chatbot can handle various tasks. The challenge is not if the chatbot will produce the results you’re looking for; instead, it’s asking how to use ChatGPT in real estate in a way that goes beyond using it for entertainment.

What is the commercial use case for ChatGPT as a real estate agent?

At this point, the power of ChatGPT relies on the quality of the prompt you put into the chatbot. However, our creativity is limited by our ability to ask ChatGPT proper questions that will contribute to our real estate business.

As such, there are a few ways to use ChatGPT: exploratory and actionable.

Exploratory use of ChatGPT consists of having a ChatGPT tab open while working on our real estate business. If we’re stumped on a listing description, blog post, ad copy, follow-up, or any other idea, we pop it into ChatGPT to see if it produces something of value. This is part of my process. Take a look at my tabs (don’t judge me for tab overload)

Actionable use of ChatGPT is knowing specific prompts that will produce results and going to ChatGPT when working on that task.

Actionable use of ChatGPT in real estate is our focus today, however, don’t hesitate to keep a tab open to ChatGPT to explore throughout your day-to-day.

Hack For ChatGPT Prompts

Using ChatGPT depends on your ability to use it properly. One way to produce effective results is to think in commands instead of questions.

The best prompts are commands, not questions.

Question: How do I follow up with a cold lead?
Command: Give me step-by-step instructions for following up with cold leads.

This is an abnormal process for us. As “Goooglers,” we are accustomed to asking questions. Instead, think in terms of commands – like a coder.

Asking questions is a good way to have ChatGPT generate broad ideas, but direct orders are how you turn the ideas into actionable steps.

Treat prompts like code—if you don't give explicit instructions, you won't get the desired outputs.

Also, you can prompt ChatGPT with some very advanced concepts. First, check out what Rob Lennon is doing with ChatGPT. Here’s his document with more information.

List of Uses for ChatGPT in Real Estate

The usefulness of ChatGPT in real estate is directly linked to the quality of the prompts we use. Given this, we need a list of uses for our real estate business. Let’s explore the use cases for ChatGPT as a Realtor.

Let’s see how ChatGPT thinks it would benefit Realtors.

Listing Descriptions

So far, one of the most common uses in real estate is prompting ChatGPT to produce a listing description for your listing. However, most agents are not using it properly. Instead, the tool requires that you put in detailed information about the property to be given a helpful listing description.

Therefore, ensure you’re inputting all the information you’d like to highlight and use this to start your listing description. You’ll likely want to edit the description versus a direct copy/paste.

“Write a listing description for a 3 bedroom 2 bath home in Marda Loop, Calgary. The house is on a quiet street and has a newly updated kitchen with granite countertops and a gas stove. The house is a remodelled bungalow with a double garage. Also, highlight the big backyard and that it’s close to shops and cafes.”

Ready to take this listing description and turn it into a social post? Just ask ChatGPT to turn this into a social media post now.

Prompt: Now turn this description into a social media post

Pretty cool, right?

Improve Your Emails & Texts

If you’re drafting an important email and need the messaging and tone to be aligned with your desired approach, have ChatGPT reword your email.

Prompt: “Make the following email more persuasive and succinct. Also, remove any fluff” + Paste your email.

Scripts Creation

You may have your go-to scripts; however, sometimes, you need to adapt them. Perhaps you want to make them more direct, personable, or clear. Use ChatGPT to create phone scripts for you.

For example, here is the output from this prompt: Write a phone script for a real estate agent and ask for a price reduction from a seller.

Idea Generation

ChatGPT is amazing at generating ideas. This is one of the superpower user cases in many industries. So if you’re looking for ideas, ChatGPT is your best friend.

What are some marketing ideas for a real estate agent?
What are some social media strategies for real estate agents?
What is the best-performing blog content for real estate agents?
Etc.

Prompt: What are some lead magnet ideas for real estate agents?

Blog Posts and Content

Are you the agent who has “write a blog about [topic]” on your to-do list, but it always gets pushed to the next week, month or year? Well, then, you are like most agents. In real estate, we have deals on the go, client inquiries, buyer appointments, and everything in between.

If you’ve been putting off that blog post, ChatGPT will write it for you.

Prompt: Write a 500-word blog post about when and why you should get pre-approved for a mortgage before starting to shop for a house. Make it fun and casual. Follow SEO best practices.

Keyword Research

In real estate, if SEO is one of your strategies, you’ll immediately know the value of keyword research. The trouble is it can be time-consuming, and the keyword research tools on the market can be costly. How about letting ChatGPT do all of your keyword research?

Prompt: Keyword ideas for real estate agent

Copywriter

One of the most impactful current use cases for ChatGPT is in the copywriting space. We all have a strong understanding of how ChatGPT can use to improve our copywriting, but here are some interesting actual use cases.

Taglines
Instagram captions
Website page copy
Website conversion optimization
Sales copy
Email & text writing
Ad copywriting

Prompt: Write 5 funny Facebook ad taglines for buyers looking to buy their first home

How good is this?!?!

Newsletter Content

If you’re struggling with your monthly email newsletter, you can lean on ChatGPT to develop some impressive content.

Prompt: Write an email newsletter about the current state of the real estate market in Calgary, Alberta.

Customer Service

If you’re looking for new and compelling ways to interact with leads and your clients, ChatGPT can help. This article is an excellent read on using ChatGPT for customer service.

I really like the following prompt.

Prompt: Give me 8 ideas to wow my customers

TikTok & Video Scripts

One of the most challenging parts of content creation is the script. Furthermore, how can we create a funny, casual, or serious script? Well, ChatGPT can write a whole script for you and structure the scene and languages to your preferences.

Prompt: Write me a funny TikTok script for items to watch for in a home inspection.

Advanced Real Estate Agent Prompts for ChatGPT

The following are prompts that work best with the latest version of ChatGPT. These will really show the power of the tool!

Local Market Analysis Report Prompt: "Create a comprehensive local market analysis report for [specific neighborhood or area], including current listings, recent sales, price trends, and inventory levels. Highlight key factors influencing the market and provide insights on future trends. Include visual aids such as charts and graphs for easier interpretation."
Buyer Needs Assessment Prompt: "Conduct a thorough needs assessment for a potential buyer, covering their budget, preferred location, desired property features (e.g., number of bedrooms, amenities), and any special requirements (e.g., accessibility, pet-friendly). Use this information to create a personalized property search plan."
Seller Pre-Listing Checklist Prompt: "Develop a comprehensive pre-listing checklist for a seller, including necessary repairs, staging tips, and important documents to gather (e.g., property deed, recent utility bills). Provide guidance on setting a competitive price and preparing for showings."
Open House Planning Prompt: "Plan a successful open house for [specific property], detailing the date, time, marketing strategies (e.g., social media promotion, email invitations), and preparation steps (e.g., staging, signage). Include a follow-up plan to engage with attendees post-event."
Client Communication Plan Prompt: "Create a detailed communication plan for maintaining regular contact with clients, including the frequency of updates, preferred communication channels (e.g., email, phone, text), and the type of information to be shared (e.g., market updates, new listings)."
Negotiation Strategy Prompt: "Develop a negotiation strategy for a buyer or seller client, outlining key objectives, initial offer or listing price, and tactics for handling counteroffers. Include considerations for contingencies, closing costs, and other deal terms."
Closing Checklist Prompt: "Create a closing checklist for a transaction, covering all necessary steps from contract acceptance to the final walkthrough. Include a timeline for completing tasks such as securing financing, conducting inspections, and transferring utilities."
Social Media Marketing Plan Prompt: "Develop a social media marketing plan for promoting listings and engaging with potential clients. Include a content calendar with post ideas (e.g., property photos, market insights), target platforms (e.g., Instagram, Facebook), and engagement tactics (e.g., hashtags, polls)."
Referral Generation Strategy Prompt: "Outline a strategy for generating referrals from past clients and professional contacts. Include tactics such as personalized thank-you notes, referral incentives, and regular check-ins to maintain relationships."
Property Valuation Method Prompt: "Explain the method for valuing a property, considering factors such as location, property condition, recent comparable sales, and market trends. Provide a step-by-step guide for conducting a comparative market analysis."
Buyer's Offer Preparation Prompt: "Prepare a competitive offer for a buyer, including the offer price, contingencies (e.g., financing, inspection), earnest money deposit, and proposed closing date. Include guidance on crafting a compelling offer letter to the seller."
Listing Presentation Template Prompt: "Create a template for a listing presentation, covering key sections such as agent credentials, marketing plan, pricing strategy, and testimonials from satisfied clients. Include visual elements like charts and photos to enhance the presentation."
Client Feedback Survey Prompt: "Design a feedback survey for clients post-transaction, asking about their satisfaction with the service, areas for improvement, and willingness to refer your services. Include a mix of rating scales and open-ended questions."
Market Update Newsletter Prompt: "Compile a monthly market update newsletter for clients and prospects, featuring recent sales data, market trends, upcoming listings, and real estate tips. Include a personal message and call-to-action to encourage engagement."
Annual Business Review Prompt: "Conduct an annual review of your real estate business, analyzing key metrics such as number of transactions, average sale price, marketing effectiveness, and client satisfaction. Use this review to set goals and strategies for the upcoming year."

ChatGPT Success Stories in Real Estate

Case Study 1: Streamlining Operations

A real estate agency implemented ChatGPT to manage their email inquiries and social media messages. The result was a 40% reduction in response time and a significant increase in client satisfaction, demonstrating the efficiency of using AI assistants in real estate.

Case Study 2: Enhancing Listing Descriptions

An agent used ChatGPT to create unique and engaging property descriptions. This led to an increase in listing views and inquiries, highlighting the impact of well-crafted content powered by AI.

ChatGPT Alternatives For Realtors

Writesonic: This AI tool is proving to be one of the best competitors to ChatGPT. The focus is heavily on SEO-optimized content for your blogs, ads, emails, and websites.

Jasper: This tool has been well-known in the real estate industry. However, one of the largest issues was the quality of the content. With the improvement in AI models, Jasper’s content has improved immensely. It also caters to real estate agents with listing descriptions, real estate bios, ads, and more.

Perplexity: Similar to ChatGPT but fantastic in citing sources. Citing the sources gives more credibility to the results and allows the user to further investigate the sources.

You: YOU uses AI to turn your search into a conversation. In short, your search can be a traditional Google-style search or you can ask for a direct answer using the AI model.

Tome: This tool integrates the power of storytelling. It uses best practices to ensure your presentation follows the proper flow to optimize conversion.

Rytr: A tool that is built to help you create plagiarism-free content quickly (blog posts, copywriting, ads, etc.) and at a very reasonable cost.

Summary

It’s no secret that ChatGPT is revolutionizing various industries. Most are still unsure how this will impact their career and lives. But, one thing is for certain, it will have an impact. As a real estate agent, don’t wait to adopt technologies like ChatGPT to improve your productivity, research, and creativity.

Over to you - how are you using ChatGPT in your real estate business?

21 Genius Ways To Use ChatGPT in Real Estate [2024]