AI and The Real Estate Industry
Would you trust AI to sell your home?
It’s not as far-fetched as one might think. Artificial intelligence is becoming ubiquitous in all facets of everyday life, and it is starting to infiltrate the real estate industry.
Perhaps the most glaring example can be found in a home’s marketing. Well-written, detailed copy on a home’s website or inside of a brochure is often the sign of a top-tier agent or team, as it shows the agent values high-quality marketing while providing potential buyers with details they may not readily see in photos. Unfortunately for buyers, some agents who may not spend as many resources on marketing now have an advantage. They just simply plug a few facts into an AI language model, such as ChatGPT, and viola: they have a property description that rivals the best of the best. Or do they?
While AI technology has made significant strides it still lacks a human touch, as well as an understanding of each neighborhood’s unique attributes that are vital to optimizing the home-selling process. It’s not just about presenting a list of features and specifications; it’s about creating a compelling narrative that resonates with potential buyers. AI-generated descriptions might be efficient, but they often lack the creativity and personalization that only someone who’s experienced the property and community firsthand can provide.
One of the critical advantages of having a skilled agent and marketing team on hand to write a property description is the ability to provide an insightful, emotional appeal to potential buyers. AI lacks the expertise to craft engaging narratives that showcase the unique features of a home and evoke a human response, nor does it understand how to highlight the property’s strengths and address any potential concerns that buyers may have.
Moreover, AI-generated content runs the risk of being generic and cookie-cutter. Every home is unique, and a one-size-fits-all approach simply doesn’t work when it comes to enticing buyers.
Plus, AI-generated content may not always be reliable when it comes to accuracy, and it also has trouble capturing the intangible aspects of a home such as its unique charm or ambiance.
Say you decide to put your home on the market and choose an agent who skimps on marketing and uses AI to write a description. Potential buyers will be disappointed when they visit and find the home doesn’t match their expectation; for instance, your home may be marketed as having hardwood floors when they’re actually vinyl, or granite countertops that are instead laminate. The description may even get the “feel” of the home entirely wrong.
While they may seem minor, oversights like these add up. They can severely dampen a potential buyer’s enthusiasm, as they might feel as if they were purposely misled to get them in the door. Your home may end up sitting on the market for weeks, with its price and your profit dropping along the way.
That’s why it’s critically important for sellers to choose an agent who will put a premium on marketing your home accurately in order to appeal to as many potential buyers as possible. DeLeon Realty employs a fully staffed, in-house marketing team for this very purpose. They work hand-in-hand with Michael, Audrey, and Francis every step of the way, from the first introductory visit until the day your home sells. Other agents simply cannot match those resources, which is why many have come to rely on AI to try and keep up.
While AI has its merits in other industries, with real estate it’s best to trust the expertise of skilled agents and marketers who can provide a tailored, engaging approach to selling your home.
In August, Michael, Audrey, and Francis all attended Inman Connect Las Vegas, one of the real estate industry’s best conventions, and many agents they spoke with were excited about how AI can save them time. Interestingly, no one mentioned any hopes that it would make them better.
By David Tobener
CONTACT
Michael Repka | michael@deleonrealty.com | Tel: 650.405.4631