Month: December 2023

Tips & Tricks to Close More Deals in 2024

by Mariam El Hadary

Join Jodie Cordell, one of the leading estate agents in the USA on a journey through the essentials of lead conversion.

Sharing her effective strategy that, as a solo agent led to closing an average of one deal per month. Stay tuned for valuable tips to scale your business.

Stages of Lead Conversion: Understanding the Buyer’s Journey

It’s important to understand the way your buyers and sellers think when they’re making any kind of purchasing decision. When you understand the psychology and the process that every person’s brain travels, it helps you understand your role in that decision-making process. 

  • Awareness: In this first awareness stage, your lead learns about you and the services you provide, but may not be in the market for your services at this time. 
  • Consideration: If you continue building a relationship with that lead, they will eventually enter into the consideration phase, where they will weigh whether or not they need your services. 
  • Decision: Once your lead has considered all their options, they will enter the decision phase, where they will determine whether your services are right for them. 
  • Loyalty: Finally, there’s the phase where many agents fall off—to their detriment. The loyalty phase is where satisfied past clients share you with all of their sphere. They become your evangelists, telling everyone they know how amazing you are. These people end up being a huge source of referrals that can sustain your business for years. You can’t neglect this phase if you want your business to boom.

Every single person who ever makes any kind of purchase goes through the buyer’s journey. From choosing that tube of lipstick to investing in real estate, the length of time may be different, but the mind mapping is the same.

Conversion Strategies for Common Lead Types

You will need to tailor your approach to each lead type to get the most bang for your buck.

Tips to Convert Internet Leads

  • Maintain a consistent presence on your social media, blog, YouTube, etc. 
  • Encourage engagement with polls, quizzes, and questions for your audience to answer.
  • Make sure you understand that the goal is to build your relationship, not just talk about real estate. Make them like you by sharing your everyday life.
  • Anticipate and answer their questions.
  • Always include a call to action (CTA) in your online content.

Tips to Convert Paid Leads

  • Make sure your system immediately sets the lead up on an appropriate lead nurturing campaign.
  • Use chatbots to ask and answer questions on your behalf and prequalify the leads when you can’t answer your phone.
  • Try to reach out via phone, text, and email. Your lead will most likely respond to text messages and engage with a chatbot.  
  • Don’t stop reaching out to the lead. It will likely take multiple attempts before they will make a buying decision. If you stop too soon, you will lose the lead to another agent.
Dive deeper for additional insights – keep reading!

This column does not necessarily reflect the opinion of overwrite.ai and its owners.

This story has been published from an article in The Close published on November 2023.

For informative news and views on the world of real estate, proptech and AI, follow overwrite on Instagram and LinkedIn, and keep up-to-date with our weekly NewsBites blog

overwrite | real estate content creation, reimagined

Europe Agrees Landmark AI Regulation Deal

by Mariam El Hadary

With the political agreement, the EU moves toward becoming the first major world power to enact laws governing AI. Friday’s deal between EU countries and European Parliament members came after nearly 15 hours of negotiations that followed an almost 24-hour debate the previous day.

The two sides are set to hash out details in the coming days, which could change the shape of the final legislation.

“Europe has positioned itself as a pioneer, understanding the importance of its role as a global standard setter. This is yes, I believe, a historical day,” European Commissioner Thierry Breton told a press conference.

The accord requires foundation models such as ChatGPT and general purpose AI systems (GPAI) to comply with transparency obligations before they are put on the market. These include drawing up technical documentation, complying with EU copyright law and disseminating detailed summaries about the content used for training.

High-impact foundation models with systemic risk will have to conduct model evaluations, assess and mitigate systemic risks, conduct adversarial testing, report to the European Commission on serious incidents, ensure cybersecurity and report on their energy efficiency.

GPAIs with systemic risk may rely on codes of practice to comply with the new regulation.

Governments can only use real-time biometric surveillance in public spaces in cases of victims of certain crimes, prevention of genuine, present, or foreseeable threats, such as terrorist attacks, and searches for people suspected of the most serious crimes.

The agreement bans cognitive behavioural manipulation, the untargeted scrapping of facial images from the internet or CCTV footage, social scoring and biometric categorisation systems to infer political, religious, philosophical beliefs, sexual orientation and race.

Consumers would have the right to launch complaints and receive meaningful explanations while fines for violations would range from 7.5 million euros ($8.1 million) or 1.5% of turnover to 35 million euros or 7% of global turnover.

“We have a deal, but at what cost? We fully supported a risk-based approach based on the uses of AI, not the technology itself, but the last-minute attempt to regulate foundation models has turned this on its head,” its Director General Cecilia Bonefeld-Dahl said.

Privacy rights group European Digital Rights was equally critical.

“It’s hard to be excited about a law which has, for the first time in the EU, taken steps to legalise live public facial recognition across the bloc,” its senior policy advisor Ella Jakubowska said.

“Whilst the Parliament fought hard to limit the damage, the overall package on biometric surveillance and profiling is at best lukewarm.”

The legislation is expected to enter into force early next year once both sides formally ratify it and should apply two years after that.

Governments around the world are seeking to balance the advantages of the technology, which can engage in human-like conversations, answer questions and write computer code, against the need to put guardrails in place.

Europe’s ambitious AI rules come as companies like OpenAI, in which Microsoft (MSFT.O) is an investor, continue to discover new uses for their technology, triggering both plaudits and concerns. Google owner Alphabet (GOOGL.O) on Thursday launched a new AI model, Gemini, to rival OpenAI.

The EU law could become the blueprint for other governments and an alternative to the United States’ light-touch approach and China’s interim rules.

This column does not necessarily reflect the opinion of overwrite.ai and its owners.

This story has been published from an article in Reuters published on Dec 2023.

For informative news and views on the world of real estate, proptech and AI, follow overwrite on Instagram and LinkedIn, and keep up-to-date with our weekly NewsBites blog

About overwrite.ai

overwrite.ai is a multi-product deep-tech startup that develops proprietary Artificial Intelligence solutions to address inefficiencies in the MENA region’s massive +$3 trillion real estate economy.

overwrite | real estate content creation, reimagined

A Founder’s Game is Never Over

by Mariam El Hadary

A year ago we were written off by everyone. Fast forward 12 months, and we’ve smashed another record.

This past month, our real estate users generated over 10K new property listings using overwrite.ai 📈

So today when you browse any of the UAE’s leading property portals, you’re seeing thousands of adverts written by our GenerativeAI engine.

We’re banging out content to an industry that just can’t get enough of it.

The interesting part is that we’re not a gpt-wrapper app.

You see, we built our Language Model from scratch in 2021. Proprietary. And Bootstrapped.

When ChatGPT took the world by storm in November ’22, nearly every investor I spoke to expected it to be an existential threat to us.

I had faith in our strategy and our product. But I won’t lie, there were times even my faith was tested. Hard!

You must be thinking, what did we do to get more user engagement now than ever before?

Here’s the funny thing. We did nothing.

We haven’t actually changed anything in our product. Nor have we spent a penny more on customer acquisition.

We just stuck to our core belief. That we’d built a brilliant solution to a genuine problem.

Our Customers agree. So I dedicate this Win to them. And to the 24SIX9 Founders Community of Soldiers that have helped me keep the faith.

For informative news and views on the world of real estate, proptech and AI, follow overwrite on Instagram and LinkedIn, and keep up-to-date with our weekly NewsBites blog

About overwrite.ai

overwrite.ai is a multi-product deep-tech startup that develops proprietary Artificial Intelligence solutions to address inefficiencies in the MENA region’s massive +$3 trillion real estate economy.

overwrite | real estate content creation, reimagined

AI Is The Great Equalizer

by Mariam El Hadary

The past few months I’ve been mulling over a series of studies economists have conducted on the value of artificial intelligence in the workplace. How much, they wanted to know, does AI help white-collar professionals do their jobs? The productivity gains they’ve observed are substantial: AI is clearly making us better, faster workers. The numbers have prompted AI optimists to predict an economic boom and AI pessimists to worry about a future of fewer jobs.

The question isn’t how much AI helps out around the office but who it helps — and why.

AI, the studies indicate, is making us more productive in a weird way. It’s not helping everyone get better at their jobs. It’s mostly turbocharging workers who are bad at their jobs, while doing little to aid — or even hindering — those who are already productive to begin with. AI, in other words, is raising overall productivity by narrowing the gap between high performers and low performers. It’s equalizing white-collar work — a vast swath of the economy that has always been predicated on the assumption that some people will inherently be much, much better at their jobs than others.

Before we get into the broader implications of the studies, let’s start by reviewing their findings. Economists looked at the impact of AI in six different areas of work:

Creative writing. Researchers tasked people to write a short story, with and without the help of an AI tool for generating ideas. Those who had no spark of their own became as much as 11% more novel and 23% more enjoyable with the help of AI. But the tool didn’t benefit those who were already creative on their own.

Office memos. Researchers had subjects complete writing tasks that are common in professional jobs — think press releases, short reports, delicate emails. Access to AI made everyone faster, regardless of their skill level, by an average of 37%. But when it came to the quality of their writing, AI mostly helped the low performers.

Coding. Software engineers with fewer years of professional coding experience benefited much more from access to GitHub Copilot, an AI coding assistant, than veteran coders did.

Management consulting. Researchers graded professional consultants on18 knowledge-intensive tasks similar to what they actually do in their jobs. Access to GPT-4 boosted the scores of low performers by 43%, compared with only 17% for high performers.

Law school. Researchers administered an exam to law students with and without GPT-4. Students at the bottom of the class got a big performance boost. But access to the tool actually hurt the grades of the students at the top of their class.

Call-center work. Researchers measured the effects of a tailored AI tool that was introduced at a real call center. Novice and low-skilled workers became 34% more productive, while those with more experience and skill saw few benefits. Access to AI even slightly hindered the top performers on some measures, like conversation quality.

Adding to the Economists list is  overwrite.ai. Real estate agents can now significantly improve their efficiency by adopting generative AI. Using overwrite.ai to create property listing descriptions, means real estate agents can focus on higher value tasks, (such as closing deals), instead of time-consuming admin tasks.

So yes, AI boosts productivity in a wide variety of common office tasks, from repetitive work in low-paying call centers to complicated duties at elite management firms. And though most of the studies were hypothetical experiments in a lab — making their findings difficult to extrapolate to the real world — the call-center study looked at actual job performance at an actual company. But it’s how AI increases productivity that should interest us the most. Together, the studies present a strong case that by disproportionately boosting those at the bottom, this new generation of AI tools is narrowing the variation in job performance. In just a few short months, it’s already doing what decades of education have failed to do — it’s equalizing the American workplace.

Continue reading for more insight!

This column does not necessarily reflect the opinion of overwrite.ai and its owners.

This story has been published from an article in Business Insider published on December 2023.

For informative news and views on the world of real estate, proptech and AI, follow overwrite on Instagram and LinkedIn, and keep up-to-date with our weekly NewsBites blog

About overwrite.ai

overwrite.ai is a multi-product deep-tech startup that develops proprietary Artificial Intelligence solutions to address inefficiencies in the MENA region’s massive +$3 trillion real estate economy.

overwrite | real estate content creation, reimagined