No more than five months after OpenAI gifted the world with ChatGPT and it’s already a highly-respected figure in the real estate industry. We were still getting used to ChatGPT when AI virtual staging surprised us. Seems like AI and real estate have already made strong bonds and see a bright future together.
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AI and Property Listing
One sector of the industry that AI seems quite competent with is property listing. But let’s see if creating property listings with AI offers any special advantages to clients. Is using AI merely a “should” or a definite “must” in property listing?
Before proceeding, I’d like to clarify that this article will take a “fair” look at AI and its application in property listings. There is no animosity or favoritism involved here.
What Uses Does AI Have in Property Listings?
One way we can make good use of AI in the real estate market is to use it for property descriptions. Whether you use ChatGPT or a similar tool, you just need to provide the essential details about the property, which will generate a lively, impressive description of the place.
Although you may have to spend some time modifying and sometimes correcting the description it delivers, AI is still highly practical in this regard.
There are various real estate photo editing services we can apply to a real estate photo to improve its quality and appeal. Item removal, day to dusk, image enhancement, arial editing, renders, and renovations are just some of such changes.
Before the advent of AI, we had to spend hours employing one or several such changes to the photos. But with AI now available to us, we can make such changes in real estate photos in no time.
Keep in mind that although AI is very helpful in this regard, human interruption is ‘still a must as AI is yet developing.
Another function that AI can serve in property listings is AI-powered virtual staging, which has proven to be practical and time-saving. Thanks to AI, virtual staging, which used to take several days, takes only a few minutes now.
All you need to do is give it the pictures of your property and ask it to add certain items or decor to make it more appealing to potential buyers.
Regarding the limitations, one could argue that AI virtual staging is not, at least for the present time, as precise as manual virtual staging, which is done by humans. In other words, in most cases, even untrained eyes can sense the artificiality of the pictures generated by AI.
Nonetheless, given that AI tools are constantly learning and improving, we can assume that they will be much richer, more accurate, and more satisfying in the near future.
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Property search engines filter the properties according to customers’ preferred parameters. But AI takes it a step further and analyzes the client’s previous viewings as well. This way, it can make tailor-made listings that surprisingly match customers’ expectations.
More interestingly, AI can employ profiling techniques to make the best offers to new customers. It gathers clients’ demographic information and uses it to find the best properties for first-time viewers with the same demographic attributes.
Predicting the market status
By assessing factors such as market trends, location attributes, and risk assessment, AI can estimate the market condition and predict its status in the future.
An accurate estimation of the market status will help realtors learn when there are more buyers around or when they are more generous with their money!! So, having AI on their side, realtors know when to list a property and, for that matter, make a deal.
Main Benefits of Using AI in Property Listings
The first and perhaps most important reason for using AI in property listings is that it saves agents tons of time. While an average copywriter or agent needs two or three hours to write a neat description of a property, AI needs no more than two minutes to complete a similar task. And the same is true about AI virtual staging as well.
Another reason for using AI for property listings is its cost-effectiveness. We don’t know if AI is going to remain a cheap service in the future, but for the time being, we can safely say that it’s absolutely affordable. It has been affordable enough to say that among the many criticisms leveled at AI, and Chat GPT for that matter, the cost has never been a major concern.
How AI Benefits Property Buyers And Sellers
Suggesting the right agents for buyers/sellers
Real estate agents play an important role in any transaction. Whether you want to buy a property or sell yours, it’s always nice to have an experienced agent beside you. But how do you find a good agent?
Well, you only need to reach out to AI. Simply ask your omnipresent assistant to provide you with the list of agents in your area. Then ask it to gather information related to those agents. You can ask for information such as; years of experience, online reviews, the number of transactions, and so forth.
Providing useful information to the buyers
One special use buyers can get from AI is getting information about the area surrounding the properties. Information such as local zoning regulations, immunity status, and communication systems are just some information that AI can give you in the blink of an eye which can help you make the right decision.
With AI entering the real estate game and proving to be quite a smart teammate, the real estate industry is undergoing a fast but pleasant change. One sector which has been specifically affected by AI is property listing.
Property listings using AI technology provide customers with exemplary services such as property description, case recommendation, virtual staging, market assessment, etc.
If you intend to sell a property, remember to utilize AI-powered tools while creating your property listing. You’ll gain more than you expect.