Computers in the Work Place

Over the last several years I have seen how technology has changed the real estate industry in waves. We have seen residential real estate sales change from picking up keys at the local real estate office, to being able to enter homes using digital keys, or secure Bluetooth lockboxes on the properties. Contracts have changed from being hand written, to being digitally signed using DocuSign. The process of transferring money has changed from delivering physical checks to now being able to scan it using an app directly to the escrow company. The most recent and noticeable changes include using AI, specifically generative AI. You notice the use of generative AI with systems or platforms like client relationship managers (CRM), social media, and lead generating marketing and designs. According to the National Association of REALTORS® (2024), survey conducted, technology plays a big role in the real estate agents’ success. “The top three tech tools that have given respondents (or their agents) the highest number of quality leads in the last 12 months were social media (52 percent), customer relationship management (CRM) (32 percent, and their local MLS (26 percent)” (National Association of REALTORS®, 2024).

These changes can at times create a learning gap, leaving seasoned agents having a hard time with the fast-paced changes that the business now relies on. Social media marketing is can be considered a requirement in todays world of real estate. However, I have agents that grew up in a generation without social media, thus incorporating that into a part of their marketing strategy becomes mundane and an obsolete task they choose not to focus on. I have personally trained agents as well as taken training courses that are designed to help real estate professionals, enhance their skills and what they offer by utilizing the new technology and AI tools. A great example of using generative AI is using ChatGPT to enhance a property description. “Generative AI makes original and creative content and generates code” (TestOut, 2024). A listing agent preparing to put a home on the market needs to write and create a very expressive, catchy, yet compliant property description. With the advancements in generative AI technology, the professional can now take the basic terminology of how they describe a home, and a neighborhood – type that into ChatGPT and ask it to draft a professional listing description based of the information provided. As mentioned in TestOut, Chapter 11 (2024), the user will be amazed with how quickly it delivers results and the content drafted. This gives a real estate agent results in minutes, verses something that would have taken over an hour to draft, proof and polish.

Over the next 10 years, AI will grow and continue to learn. “AI computers rely on their video cards to do most of the work. These AI computers learn from the world around them, which for them means other computers and the vast amounts of information they hold” (TestOut, 2024). My hope is it adds value in ways that provide the professionals resources and still allow professionals to be resourceful and build a brand that still embraces building a relationship that grows with referrals. It is possible, that may turn into being on the side of real estate technology needing to protect clients from cyber threats, fraudulent activity or even in the near future, assisting with real estate in more areas like Metaverse as an avatar. With the fast pace that technology is continuing to enhance and develop the industry, everyone should embrace AI while understanding a learning curve is natural and comes with all changes.

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Computers in the Work Place

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