Month: March 2024

UN adopts first global AI resolution

by Mariam El Hadary

The United Nations has moved to protect our Human Rights from Artificial Intelligence.

If you haven’t caught up on the latest news, Last Thursday, The United Nations General Assembly unanimously adopted the first global resolution on artificial intelligence.

The non-binding resolution, proposed by the United States and co-sponsored by China and 121 other nations, took three months to negotiate and also advocates strengthening privacy policies, the officials said, briefing reporters before the resolution’s passage.

The resolution is the latest in a series of initiatives — few of which carry teeth — by governments around the world to shape AI’s development, amid fears it could be used to disrupt democratic processes, turbocharge fraud or lead to dramatic job losses, among other harms.

“The improper or malicious design, development, deployment and use of artificial intelligence systems … pose risks that could … undercut the protection, promotion and enjoyment of human rights and fundamental freedoms,” the measure says.

Asked whether negotiators faced resistance from Russia or China — UN member states that also voted in favour of the document — the officials conceded there were “lots of heated conversations. … But we actively engaged with China, Russia, Cuba, other countries that often don’t see eye to eye with us on issues.”

“We believe the resolution strikes the appropriate balance between furthering development while continuing to protect human rights,” said one of the officials, who spoke on condition of anonymity.

In November, the US, Britain and more than a dozen other countries unveiled the first detailed international agreement on how to keep artificial intelligence safe from rogue actors, pushing for companies to create AI systems that are “secure by design.”

Europe is ahead of the United States, with EU lawmakers adopting a provisional agreement this month to oversee the technology, moving closer to adopting the world’s first artificial intelligence rules. The Biden administration has been pressing lawmakers for AI regulation, but a polarised US Congress has made little headway.

The White House sought to reduce AI risks to consumers, workers, and minority groups while bolstering national security with a new executive order in October.

Like governments around the world, Chinese and Russian officials are eagerly exploring the use of AI tools for a variety of purposes. Last month, Microsoft said it had caught hackers from both countries using Microsoft-backed OpenAI software to hone their espionage skills.

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

This story has been published from an article in Khaleej Times published on March 2024.

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

Agent’s Guide: Top House Selling No-No’s

by Mariam El Hadary

This is a list of things real estate agents should never say to their clients.

1. You Have Horrible Taste

Agents often face challenges with sellers who refuse to alter their unique decor choices, like an extensive collection of taxidermied cats. While taste is subjective, staging a home neutrally tends to attract more buyers and potentially lead to higher sale prices, instead of criticizing their taste.

Say This Instead:

You have a beautiful collection of stuffed cats. It is so meaningful and important to you. However, we might have potential buyers who are allergic or may miss their dear departed cats. They will spend the whole time looking at your cats, thinking about their cats, not your lovely property. Let me show you some simple things we can do to stage your home that might even bring a higher sales price! 

2. Call Me Anytime, 24/7

As an agent, maintaining open communication with clients is essential, but setting unrealistic expectations of being available at all times can lead to frustration and burnout. Balancing professional responsibilities with personal commitments is crucial for long-term success and well-being.

Say This Instead:

You can commit to top-tier customer service. You can promise to return all emails and texts within one business day. You can pledge to monitor messages and respond promptly and regularly. You can also introduce your clients to a fellow team member or assistant who can step in if you are unavailable. You can deliver the best customer service in your area in many ways without sleeping with your phone. 

3. I Only Make Money if You Buy a House

Real estate agents should avoid saying they only get paid when clients buy a house, as it can create undue pressure. Recent commission lawsuits highlight the confusion surrounding agent compensation and their value. Agents should take the opportunity to clearly articulate the various roles they play in helping clients find their dream home.

Say This Instead:

If asked how you make money, be careful not to answer by assigning any responsibility to your clients. Rather, point to the many services you provide. Make sure they understand commission but do so in a way that ensures they never feel like they are responsible for you keeping your lights on at home. Even if they are.

4. Your Dream Home Doesn’t Exist

Avoid telling clients that their dream home doesn’t exist, as it can crush their hopes and aspirations. Many buyers are influenced by media portrayals of ideal homes and may have unrealistic expectations. Instead, agents should navigate compromises with sensitivity and understanding, acknowledging the challenges of the current market and managing client expectations accordingly.

Say This Instead:

I understand that these not-granite countertops make you want to gouge your eyes out with pruning shears, but countertops are replaceable and are easier and cheaper than you think. Let’s look at some cosmetic changes that can make this house (the one that checks every other box) your dream home. 

5. You’re Delusional

I’m guessing you may have said this in your head many times to different clients about different issues. After all, any time you work with people, there will be a time when there’s a difference of opinion. For example, agents might want to call a client delusional when they submit a low-ball offer.

They say, “I know it’s listed at $380,000,” they say, “but let’s go in at $290,000 and just see what happens.” You’ll be tempted to respond, “You’re delusional.”

Say This Instead:

Instead of questioning their ability to reason, you’ve got to lean on your numbers and their emotions. Explain how the comps make the listing price pretty accurate. While there might be room for negotiation, a basement-level low offer will sour the relationship from the outset. The sellers might not even counter, cutting off further opportunities for negotiation. In a seller’s market, those lowballs aren’t going to get it done (highest and best should be the order of the day). Try to suss out if they really want the home, and if so, how badly. And is it worth making a realistic offer to get it? 

Agents must refrain from making insensitive remarks, even in challenging situations like viewing homes with unconventional decor. Instead, they rely on diplomacy and persuasion to guide clients effectively. By offering tactful feedback and professional advice, agents can help clients prepare their homes for sale successfully.

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 February 2024.

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

Is your phone listening to you?

by Mariam El Hadary

Have you ever had a conversation on your smartphone, only for your newsfeed to shortly thereafter show you unsolicited ads and articles relating to what you’d recently spoken about?  

The phenomenon of content targeting based on private conversations, has sparked widespread debate. 

Could our phones be actively listening to us, using microphone data to tailor content in breach of privacy settings?

Uncover opinions behind the debate. Learn what you can do to improve your privacy protection. Tune in as Ayman Alashkar, Founder & CEO of overwrite.ai, teams up with Zeena Zalamea and Sonal Rupani on Dubai Eye 103.8 for a captivating discussion.

Ayman recounted numerous occasions where he experienced this phenomenon. One memorable instance he shared involved a conversation with a friend about rugby scrums. Watch what happened.

To his surprise, his phone seemingly intercepted the conversation, as ads related to software development scrum methodologies began appearing on his feed within moments. It was clear that his phone had been listening. And if that wasn’t bad enough, it had misunderstood the context entirely.

These instances not only confirm the active listening capabilities of our devices but also highlight their tendency to misinterpret our conversations.

So what can you do to improve your smartphone’s privacy settings?

Anybody that wishes to take their privacy and security seriously, should regularly review their app permissions every 6 months. Decide which permissions they’re comfortable granting to apps. Some apps may overreach for data that they have no business wanting. Stay vigilant and consider uninstalling apps that request excessive permissions. This proactive approach helps enhance smartphone privacy settings.

Here are some useful tips on how to manage app permissions on both iOS (iPhone) and Android devices.

The debate surrounding whether our phones are eavesdropping on our conversations remains highly controversial, with numerous publications such as The Washington Post weighing in on the matter. However, what becomes evident is that there are arguments supporting both perspectives.

Now, the question remains: Do you believe our phones are actively listening in on our conversations, or is it all just speculation?

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

It’s For SALE, Stupid! An Estate Agent’s Story

by Mariam El Hadary

Every real estate agent has encountered their share of challenging Clients, each presenting unique hurdles to overcome.

Take a look at this story shared by a real estate agent in the USA.

Phone Rings. 

I answer.

A guy is calling from a listing sign, and he doesn’t know where he is. 

He can’t read the agency name — he blames the sign — and he can’t describe the property for crap. He starts getting really impatient with me, but I finally get enough information to McGyver his location by intuition and the hard science of assuming he’s looking at one of our cheapest listings because of his demeanor. I am right, and after I answer his basic questions about the home’s layout, this conversation ensues.

Caller: “How much is the rent? I’m interested in making it my home.”

Me: “Sir, the house is not for rent. You can only buy it.”

Caller: “Well, that’s dumb. Why did you put the sign here, then?”

Me: “I’m not the agent listing the house. [Agent] is out of the office, but the sign clearly says, ‘For sale,’ with the number to get assistance right away.”

Caller: “That’s why I called. I want the house, and I’ll pay rent on time.”

This goes around and around, with me using analogies comparing buying versus leasing in other situations like cars and equipment. Trying to make him understand makes it worse.

Me: “If you really like it, I will have an agent get in touch with you to show you the inside and explain the buying process. Remember, though, it can’t be rented. The owner only wants to sell it.”

Caller: “Look, idiot, I know this may be hard for you to understand, but I just want to rent it. I think I can come up with the $130,000, but I need to know what the rent will be after that. It shouldn’t be hard for an educated person to figure out.”

I once again try to explain loans, mortgages, and buying a home.

Caller: “So, what happens after I come up with the money? I won’t get a loan like you tried to sell me on; that sounds like a scam, and I don’t want to pay rent to a bank. What will I be paying per month, and who do I pay it to?”

Me: “So, you’re wanting to buy the house for cash? And now you want an estimate of the monthly costs? Is that right?”

I start pulling up Excel to estimate closing costs and taxes.

Caller: “Yes, finally, you understand. I need to know what the rent will be.”

Me: “That is not called rent. Those are monthly expenses, not rent. If you pay cash to buy the house, you won’t have a rent payment; you’ll be the home’s owner. You’ll only pay the taxes and utilities if you occupy it, and you’ll have to pay closing costs and title insurance.”

Caller: “So, you mean if I pay cash, I won’t pay rent? Just that other stuff? What about cable?”

Me: “That’s up to you. Nobody is forcing cable on you.”

Caller: “This sounds great. Tell me more. This will be cheaper than I thought.”

Me: “Is this a joke? This is [My Boss], right? You’re hazing me or something?”

Caller: “I have no idea what you’re talking about. Back to cable…”

Me: “You can hire a company to mow your lawn, get a satellite dish, or anything you want as long as it’s not illegal or against neighborhood rules. It’s your house to decide what services you want.”

Caller: “Those are great ideas. And I’m going to rent this house. You are smarter than I thought. God bless you, son. Jesus loves you. Praise the Lord, I can retire!” *Hangs up*

In this story lies a reflection of the challenges and triumphs that define the daily lives of real estate professionals and it serves as a reminder of the importance of patience, communication skills, and adaptability required to guide clients through the intricacies of property transactions.

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

This story has been published from Not Always Right on July 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