Name any real estate agent on the planet who would turn down a brand new wardrobe full of tailor-made suits đđ„⊠We couldnât either.
But it can become an expensive habit. And it doesnât take a fashionista, or financial advisor, to tell you that blowing every commission cheque on a fancy new suit probably isnât the wisest decision.
So, for the broker who wants to âlook the partâ, without breaking the bank, check out these Suit Shopping Hacks.
1. Size Matters
Suit sizing is actually pretty straightforward once you know what you need. Your jacket size is roughly equivalent to the diameter of your chest plus an inch or so of fabric so you can breathe. If your chest is 40 inches in diameter, then youâre probably going to be a 42 jacket size. If youâre in doubt you can always get measured for free at any department store.
Trouser waists are pretty easy. Just a case of wrapping a tape measure around your waist. When it comes to length thereâs only 3 options. âRâ for regular, âSâ for short, and âLâ for long. Unless youâre unusually short or tall, chances are an âRâ will fit fine.
2. The Last Drop
Now that you know your jacket size and waist size, you need to learn what a âdropâ is. This is especially important if youâre ordering your suit online, so you know what size trousers your new suit will come with. The drop is just the difference in size between the jacket and the trousers. For example, if a suit is a 40R drop six, that means the jacket is size 40, and the trousers are 6 inches smaller, so a 34 inch waist.
3. A Cut Above
This might take some time, but before you can confidently shop online for a suit, you need to learn how different designers size their suits off the rails. For example, some suit brands are notoriously roomy. Others are cut just right, and more fashion forward Italian suits might be cut super tight. That means you could be an entirely different jacket size in one shop to another.
4. Love Thy Tailor
A good tailor can make even a suit thatâs been picked from the rails, look like it was made-to-measure. A few alterations here and there can go a long way. Befriend the tailor in your local community and see what his limits are for alterations. Soon that oversized jacket will be fitting you like a glove.
5. Bargain Hunter
Once you understand which suit best fits your body shape, itâs a matter of waiting for the sales to hit, and get in there first. Many of the middle range brands, selling suits on the high street or online, regularly have great sales where you can get an excellent quality at a fraction of the original price.
A Little Goes a Long Way
Thereâs no denying that a custom-made suit will look better than anything you can get off the hanger, regardless of how much it sets you back. But, for the brokers who either arenât ready to go bespoke, or whoâd rather be savvy with their spending, this list should have you looking the part, at a fraction of the price.
In the mean time, carry yourself with confidence, channel your mindset to success, and with a touch of âHarvey Specter Swaggerâ, youâll be surprised how far a cheeky high street hack can take you.
More about overwrite.ai
overwrite.ai is a Foundation Language Model. A pioneering themed generative AI, delivering engagement-oriented content for the real estate industry. overwrite.ai creates the marketing content that powers the real estate industries of the UAE, KSA, Egypt and Lebanon.
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.
From headline-grabbing AI projects to protection against cyber criminals, hiring for the right competencies will determine which businesses win in 2023.
Whether youâre a one-person show, or part of a global enterprise with 100’s of employees, hiring for the latest tech skills will help you do business more efficiently, safely and profitably.
So, here are the 3 areas to focus your energy when it comes to developing key skills, and driving growth and innovation for your business – large or small.
Developing skills in AI doesnât necessarily have to be about learning advanced computer science and how to create machine-learning algorithms from scratch.
More practically, itâs about understanding how to fit the plethora of tools and platforms that are becoming increasingly available, affordable and usable every day, to the needs of your business.
By now, most people reading this have probably heard of, and used, ChatGPT, or the new, AI-enabled version of Microsoftâs Bing search engine. You may even have dabbled with tools like Dall-E 2 or Stable Diffusion to see what AI-generated art is about.
But this is just the tip of the iceberg. There are literally hundreds of AI-infused tools and platforms becoming available, designed to automate and speed up leisure or business activities from bookkeeping to social media management, prospecting for leads, creating text, videos and soundtracks, or managing any kind of project.
Take real estate for example. Agents can now significantly improve their efficiency by adopting generative AI. Using overwrite.ai to create property listing descriptions, means agents can focus on higher value tasks, (such as closing deals), instead of time-consuming admin.
Itâs also about being able to understand and predict the way AI will impact your line of business in the future, so when even more sophisticated and powerful tools inevitably become available, youâll be the first to put them to work and reap the rewards.
2. Data analysis
Most businesses donât know how to use even a fraction of the data that they generate or have access to through external sources.
Those that do can use it to drive efficiency, better understand their markets and competition, and develop products and services that are more in-line with their customersâ needs.
As with AI â and this is particularly true if you are a smaller organisation â these days it doesnât necessarily have to mean developing the hardcore technical skills that you would have needed if youâd wanted to carry out analytics 20 years ago.
Today, you can find myriad tools with friendly user-interfaces that will help you analyse your data.
All you need to do is access the data you already have to understand, for example, what demographics your products and services are popular with, what price points your customers are comfortable with, how your customer service performance impacts your customer churn, and how faults, breakages and wastage affects your bottom line.
3. Cybersecurity
Itâs a sad but inescapable fact that as technology enables us to do new and amazing things, it also makes us vulnerable to new threats. The cost of cybercrime to businesses will be $8tn in 2023 and is expected to grow to ÂŁ10.5t by 2025. Much of this is down to costs incurred when data is stolen â estimated at around $500 per stolen record, with the most damaging cyber thefts seeing fraudsters make off with millions of records.
Once again, there is a common misconception here â that implementing cybersecurity skills will involve hiring elite experts who will sit in a darkened room, scanning monitors for thieves attempting to breach your firewall.
In fact, the most important cybersecurity skills are those that can be taught relatively cheaply to anyone. These include safe password management practices, avoidance of malware, and awareness of attacks designed to stop letting attackers in.
The technology landscape is constantly evolving. This means itâs essential to take a strategic approach to putting the right skills in place, across the workforce. By doing this, business leaders ensure their organisations are ready to leverage the tools, platforms and trends that will help them to tackle their priorities â without being side-tracked by those that are just likely to be a distraction.
More about overwrite.ai
overwrite.ai is a Foundation Language Model. We are a pioneering themed generative AI, creating engagement-oriented content for the real estate industry. overwrite.ai creates the marketing content that powers the real estate industries of the UAE, KSA, Egypt and Lebanon.
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.
Whether youâre new to estate agency or a seasoned veteran, your daily to-do list must feel like itâs off the scale. In this 21st century, post-Covid world we live in, how you manage your workload makes the difference between you and the next broker.
From marketing yourself and your listings, networking, transacting, managing colleagues and clients, it can be overwhelming for even the most experienced realtor. So many tasks. So little time. Sometimes it may feel like itâs hard to even know where to start.
Weâve got your answer, in one little word. Efficiency.
And this week, weâre bringing you 5 daily time-busting hacks thatâll help you master the art of it.
Whether youâre teaching yourself, or teaching your new hires, there are always new âwork hacksâ thatâll have you increasing your efficiency, saving time and making more money.
#1 Plan your day
Set aside time every morning to think through your plan for the day. It might be during your morning shower, while youâre driving to the office, or making that first coffee of the day. Clearly define what you must do, should do and want to do â and plan it like a boss.
#2 Align with AI
AI is here to make life easier. And real estate themed generative AI is built to leverage property professionals. Boosting efficiency on a daily basis. Consider the time-consuming task of writing property descriptions. By using overwrite.ai, agents can instantly create unique and engaging listing descriptions in seconds, with artificially intelligent, time-saving technology. What’s more, the generative-AI listing descriptions are proven to generate more leads.
#3 No more Netflix
Having your favourite Netflix series or Insta reel playing in the background while you catch up on paperwork, might feel like multi-tasking, but donât kid yourself. Itâs most probably the most counter-productive thing you could be doing. Instead, get comfortable at your desk with your favourite drink, or better still, grab a table at your local cafe, and have one made for you. Focus. Drown out everyone and everything that isnât contributing to your task. Youâll get the job done quicker.
#4 Time-block
This simple strategy of allocating a set time to certain tasks throughout the day can seriously increase efficiency. For example, dedicate specific chunks to lead generation, content creation, viewings, or other professional tasks. Creating alarms on your phone to remind you of the timetable (so you actually do the jobs youâve allocated time for), is also a handy tip.
#5 Save the best âtil last
Itâs all about priorities. The task you dread the most should be the one to get done first. Tackling this head-on will only help make the rest of your day run more smoothly. That sense of accomplishment early on can mean the difference between a good day or a bad one.
Make it count
Being a real estate agent is like running your own small business. And like any profitable venture, thereâs no room for time wasting. How your wealth and business grow, will depend on efficiencies your create in your productivity and time management. New habits or technologies canât be learned overnight. But by following these simple time-saving strategies, youâll build a solid foundation for success.
Get in the habit of always reviewing how you can be more efficient. Youâll find yourself reaching your goals faster, even surpassing them. Whether itâs watching a webinar to improve your negotiation skills, or using a real estate themed generative AI, to ensure your listings are engaging, fresh and error-free. As long as youâre always testing and evolving yourself, youâll power ahead of the competition.
More about overwrite.ai
overwrite.ai is a Foundation Language Model. We are a pioneering themed generative AI, creating engagement-oriented content for the real estate industry. overwrite.ai creates the marketing content that powers the real estate industries of the UAE, KSA, Egypt and Lebanon.
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.ai is very excited to announce, the appointment of Moe Abeidat, Group Vice President of Technology at Aramex, as Non-Executive Director for overwrite.ai as of March 2023.
âMoe is a highly respected technology leader in the MENA region. Our collaboration signals our joint commitment to optimally shaping overwriteâs digital strategy.
He joins at a key moment for overwrite, as we continue pioneering Generative AI in the real estate space. Moeâs insights will help us de-risk the path ahead for overwrite.ai, as we disrupt the real estate marketing space.â – overwrite.ai CEO and Founder, Ayman Alashkar
Speaking about the announcement, Group VP of Technology at Aramex, Moe Abeidat, said:
âIâm really excited and honoured to be part of the pioneering team at overwrite. I’ve always been impressed with Aymanâs strong vision with AI, and how AI could transform the world in truly meaningful ways. overwrite.ai is an example of his thought leadership, using generative AI to provide true enablement for the real estate sector. A real (AI) solution to a real problem â something you donât see every day, and the possibilities with it are limitless.”
More about Moe Abeidat
Visionary and strategic senior technology executive leader with expertise in transforming, building, and implementing advanced products, software systems, and solutions that deliver dramatic results in consumer and client satisfaction, company growth/profitability, and strategic alignment.
More about overwrite.ai
overwrite.ai is a Foundation Language Model. We are a pioneering themed generative AI, creating engagement-oriented content for the real estate industry. overwrite.ai creates the marketing content that powers the real estate industries of the UAE, KSA, Egypt and Lebanon.
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.
Youâre a good estate agent. You work for a decent agency. Built a rep for yourself. Bank a respectable commission cheque each month.
Youâve even got a decent presence on social media. Found yourself a catchy account handle.
You look good on camera. You post; a lot. You get a few hits. A handful of likes. Usually from friends or colleagues.
But youâre not crushing it. Not really getting traction with the people you want traction from.
So whatâs holding you back?âŠ
CONTENT!
Weâve all had writerâs block. When itâs on the tip of our tongue but we donât know how to articulate it. Or worse. When our mind goes blank, suddenly having no clue about the kind of content our potential clients might find interesting.
So weâve made things easy for you.
Here are 6 of the most trending real estate agent blog ideas, thatâll guarantee to deliver high-quality content to your readers and blow up your online following.
#1 Mind Your Business
Do you know what effect inflationâs going to have on home prices? What will an increase in tax rates do to demand?
Irrespective whether you are in leasing or sales, a great place to start with informative content is to talk about topics such as the latest behavioural trends, interest rates, regulatory policies, or the interplay between demand and supply. If you donât understand the basic rules of real estate economics, you canât give your audience quality advice. That makes you obsolete.
Be relevant instead. Educate yourself, in order to educate your clients. Itâs all about adding value.
#2 Whatâs On
Get miles of traction discussing local events. Keep your blog updated with Whatâs On in your local community. From charity golf tournaments to festivals, to new development or off plan property launches, your readers would love to know the goings-on in their locality.
#3 Whatâs Hot and Whatâs Not
Do you know a great place to hang out with friends and have a yummy burger? Or, perhaps the best coffee shop? You also might know the go-to happy hour spot. Your audience will not only love the list of cool places to check out but also appreciate your insights.
Keep your content up-to-date and consistent
#4 Pet-Loverâs Paradise
It is often difficult for pet parents to find the best places to take their furry friends. Whether it is a pet groomer or a pet-friendly restaurant you talk about, this is a great topic to engage with your pet-loving readers. So, grab a list of places that let felines, canines, and any other nines, in and add those recommendations to your blog.
#5 Kid-Friendly Zone
Residents usually love exclusive information about places that are great for kids. Be it a perfect pizza joint or a school with all the amenities, giving parents the themed information is an excellent way of marketing your website. The content is likely to be shared on social media platforms as well.
#6 Get Personal
Who said real estate agent website content couldnât be personal? You can share your story of how you grew into an agent. Why should people trust you? How did your journey in the real estate arena get started? What have you learned in your years as a real estate agent, an entrepreneur, and an investor?
Create an online relationship with clients and build credibility
A real estate blog is one of the most effective ways of creating an online relationship with your clients, building credibility with informative content, and generating potential new leads. The more useful the content, the more people will return, engage and share your content.
So if youâre looking for inspiration thatâll take your next (or first) post up a few notches, this is your starting point.
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
If youâve searched for a property to buy or rent online in the MENA region, chances are youâve read adverts created by overwrite.ai.
overwrite is a real estate themed generative AI.
It is a pioneering proprietary Foundation Language Model that allows real estate industry agencies and technologies to create marketing content, instantly and efficiently.
We create the marketing content that powers the real estate industries of the UAE, KSA, Egypt and Lebanon.
Dubai, Middle Eastâ13 March, 2023â overwrite.ai today announced it has joined NVIDIA Inception, a program that nurtures startups revolutionizing industries with technology advancements.
overwrite.ai is focused on generative AI for the real estate industry. It supports real estate professionals in producing localised, outcome-oriented property marketing content through a proprietary themed language model.
NVIDIA Inception will allow overwrite.ai to gain invaluable access to the latest technical tools to accelerate its AI product, along with expert training for its core development team. The program will also offer overwrite the opportunity to collaborate with industry-leading experts and other AI-driven organizations.
âWeâre excited to join NVIDIA Inception, which gives us access to bleeding-edge resources with which we can grow rapidly.â
– Ayman Alashkar, Founder & CEO, overwrite.ai
NVIDIA Inception helps startups during critical stages of product development, prototyping and deployment. Every Inception member gets a custom set of ongoing benefits, such as NVIDIA Deep Learning Institute credits, marketing support and technology assistance, which provides startups with the fundamental tools to help them grow.
About overwrite.ai
If you’ve searched for a property to buy or rent online in the MENA region, chances are you’ve read adverts created by overwrite.ai.
overwrite is a real estate themed generative AI.
It is a pioneering and proprietary Foundation Language Model that allows real estate industry agencies and technologies to create marketing content, instantly and efficiently.Â
We create the outcome-oriented marketing content that powers the real estate industries of the UAE, KSA, Egypt and Lebanon.Â
As Uber is publicly mocked for inaccurate local references, it’s clear that “local real estate content, needs local real estate knowledge.” – Ayman Alashkar, Founder and CEO overwrite.ai
According to a Reddit post shared last Wednesday, titled âUber has put up ads at SFO that were written by someone who’s never set foot in San Francisco,â the ride-hailing company has debuted a set of new ads at SFO that feel like they were written by ChatGPT.
âSee you in Marina District,â the first proclaims.
The dropping of the definite article here is just bizarre â and not even the worst thing about the ad.
No one has ever said those words out loud, in that order, and if they have, they should be forced to spend 24 hours in the cityâs only Applebee’s.
The Marina ad also features a pretty sunset view of ⊠Sausalito, a town 8 miles from the Marina and far outside the San Francisco city limits, above the words: âGo anywhere in San Francisco.â
Could it be, as one commenter speculated, that a hasty stock image search for âMarinaâ dropped the âaâ and returned photos of Marin?
Itâs hard to imagine any Uber employee who knows San Francisco saw the photo of the iconic houseboats across the Golden Gate Bridge and greenlighted the ad. Itâs also hard to imagine why, of all the wonderful neighborhoods our city has to offer, anyone would choose the Marina, but thatâs a different issue.
The next ad is marginally less egregious. Another romantic photo is shown, this time of a place actually in San Francisco â the little lamp-lit wooden dock at Pier 7.
âSee you at Embarcadero,â the ad proudly states. Uber has again neglected the âtheâ here. Also, good luck trying to get an Uber to the end of the pedestrian-only fishing dock.
The final ad, promoting a ride to the Mission, is also somehow worded in a way that would make you squirm if you ever heard it out loud: âSee you at the Mission.â
Unless youâre meeting pals at the historic MisiĂłn San Francisco de AsĂs adobe building on Dolores Street, the phrasing is begging for an âinâ over an âat.â
Reddit posters were quick to note the uncanny incongruities in the ads.
âSee you at the mission made me break out in hives,â one commented.
âThis is like when someone says ‘The Bart,’â wrote another.
Another summed it up well: âNothing seems human about those ads.â
Being displayed at the airport, the ads are likely targeted at tourists over local residents. But Uber is headquartered in San Francisco, so it seems unlikely a city resident wouldnât have reviewed the campaign before sending it to print.
Or maybe Uber got exactly what it wanted from the campaign. âThis ad did its job,â one Redditor pointed out. âBy purposely being bad so that it gets everyone talking.â
Uber told SFGATE on Thursday that the campaign has since been canceled.
“Weâre glad people are paying attention to our ads!” a spokesperson wrote over email. “And while weâre happy we didnât refer to our home city as âFrisco,â we agree these ads, which are in the process of being removed, could have been better.â
This column does not necessarily reflect the opinion of overwrite.ai and its owners.
This story has been published from an article in SFG published on 9th February 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.
There’s been a tidal wave of new estate agents joining the industry looking for a slice of the pie, and to be the next top million-dollar agent.
But these new kids on the block are often without any real estate experience. And learning the ropes can be a minefield.
However, youâll be surprised at just how many simple âtips and tricksâ will have you saving time, avoiding tyre-kickers, or knowing when to spot a deal breaker.
Getting a grip, early on, of real estate principles, finance and law will undoubtedly create a solid foundation for success. Investing time in learning the practical aspects of being a âreal lifeâ estate agent, can mean the difference between success and failure.Â
Weâre bringing you the top 5 best-selling books for aspiring real estate agents, all of which provide an insiderâs perspective on becoming a successful real estate agent, and help them hone their skills.
#1 The Miracle Morning for Real Estate Agents
Thereâs something to be said about starting every day on the right foot and Hal Elrod is all about this. The Miracle Morning for Real Estate Agents will talk you through the exact morning routines of the industryâs top players. Certain habits may seem trivial, but carried out consistency over time will reap rewards.
#2 The Millionaire Real Estate Agent
Gary Kellerâs The Millionaire Real Estate Agent is about taking your real estate career to the next level. But itâs an important read early in your real estate career because it forces you to see the big picture and think long-term.
This book will give you a millionaire agent mindset. First youâll learn how to think like a millionaire. Then youâll learn how to become one through real estate sales.
#3 The Book of Yes
No one likes to cold call. But if youâve ever had to make these, youâll probably know that it helps to have a script in mind. Author and multi-million dollar real estate agent, Kevin Ward swears by the belief that real estate sales is largely about scripts. Heâs spent his career perfecting them.
The Book of YES: The Ultimate Real Estate Agent Conversation Guide will teach you exactly what to say in order to nail that ice-cold sales call.
#4 The Honest Real Estate Agent
Mario Jannatpourâs The Honest Real Estate Agent is a perfect introduction to the real estate industry. From topics like networking, negotiations, time management, basic marketing and professional integrity, this title covers a lot of ground in attempting to explain what the real estate profession is all about.
The Honest Real Estate Agent explains whatâs required to be successful in the industry. And you can use that information to confirm that real estate is the right career move for you.
#5 The Million Dollar Listing Social Media
Many of todayâs new agents are surprised at just how much business is done online via social media. Whilst you neednât be a âsocial media expertâ it is fast becoming part of the job description for real estate agents. Buyers and sellers are online. So you need an online presence that will engage them.
Check out Sebastian Acostaâs The Million Dollar Listing Social Media: The Ultimate Social Media Marketing Guide for Real Estate Professionals. Itâs probably the most comprehensive book on the topic but thereâs no harm in getting comfortable with this minefield, even before youâre officially licensed.
Habits for life
Many of these habits, designed to make agents better at their jobs, will actually set you up for success in every area of your life. Because even for agents, life is about more than just real estate.
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.
If you came across a four bedroom, 3.5 bathroom home listed for sale recently on a quiet cul-de-sac in Cedar Rapids, Iowa, you might not think twice about the online listing. It included typical real estatedescriptions like âideal for entertainingâ and âample space for relaxation.â
ButJJ Johannes, the realtor for the home, created the description in less than five seconds by typing a few keywords into ChatGPT, a viral new AI chatbot tool that can generate elaborate responses to user prompts.
Itâs a task, he said, that would otherwise have taken him an hour or more to write on his own.
âIt saved me so much time,â Johannes told CNN, noting he made a few tweaks and edits to ChatGPTâs work before publishing it.
âItâs not perfect but it was a great starting point. My background is in technology and writing something eloquent takes time. This made it so much easier.â
Johannes is among the real estate agents experimenting with ChatGPT since it was released publicly in late November. Some residential and commercial agents told CNN it has already changed the way they work, from writing listings and social media posts to drafting legal documents. It could also be used to automate repetitive tasks such as answering frequently asked questions and doing complex calculations.
This live real estate listing was created, using overwrite.ai, real estate themed #genAI tool, by a Dubai real estate agent. The property is currently for sale on real estate portal Property Finder. But online chat GPT used by Johannes, this listing is created using overwrite.ai’ proprietary software. Overwrite is a proprietary AI. It has built its own proprietary datasets. And itâs own domain specific corpus. So it’s capable of generating localised, fit-for-purpose property descriptions.
ChatGPT is trained on vast amounts of online data in order to generate responses to user prompts. It has written original essays, stories, song lyrics and research paper abstracts that fooled some scientists. Some CEOs have used it to write emails or do accounting work. It even passed an exam at an Ivy League school. (It has, however, raised concerns among some for its potential to enable cheating and for its inaccuracies.)
In less than two months,ChatGPT has sparked discussions around its potential to disrupt various industries, from publishing to law. But itâs already having a tangible impact on how a number of real estate agents around the country do their jobs â where much of the written work can be formulaic and time consuming â to the extent that some can no longer imagine working without it.
âIâve been using it for more than a month, and I canât remember the last time something has wowed me this much,â said Andres Asion, a broker from the Miami Real Estate Group.
âAs soon as I tried it out, I was soldâ
Recently, a client reached out to Asion with a problem: the womanhad moved into a pre-construction home and couldnât open her windows. She had attempted to contact the developer for months with no response. Asion ran a copy of one of her emails through ChatGPT, asking it to rewrite it with an emphasis on the liability implications.
âChatGPT wrote it as a legal issue and all of a sudden, the developer showed up at her house,â he said.
Asion has also used the tool to draft legally binding addendums and other documents, and sent them to lawyers for approval. âI fine-tune all kinds of drafts with ChatGPT,â he said. âSometimes Iâll tell it to make it shorter or funnier, and it gives you so many samples to pick and edit from.â
ChatGPT is free for now, but OpenAI,the company behind it, is reportedly considering a monthly charge of$42.Asion said âitâs not even a questionâ he would pay for access. âI would easily pay $100 or $200 a year for something like this,â he said. âIâd be crazy not to.â
Frank Trelles, a commercial real estate agent at State Street Realty in Miami, said heâd also pay to keep using the tool, which has already impacted the way he does business. âAs soon as I tried it out, I was sold,â he said. âI went to sign up for a package, thinking it would be at least $100 a month, and was blown away that it was free. Nothing in this world is free though â and that made me a bit nervous.â
Trelles said he uses ChatGPT to look up the permitted uses for certain land and zones in Miami-Dade County, and calculate what mortgage payments or return on investment might be for a client, which typically involve formulas and mortgage calculators.
âI can be in a car with a client when they ask me what their mortgage payments might be,â said Trelles. âI can ask ChatGPT what a mortgage payment would be on a $14 million purchase at a 7.2% interest rate amortized over 25 years with two origination points at closing, and in two seconds, it gives me that information. It also explains how it got the answer. Itâs amazing.â
Lots of potential, and some limitations
There are some limitations, however. The tool has, for example, struggled with some basic math before. Trelles said itâs helpful for approximations on the go, not for exact numbers.
Serge Reda, a commercial real estate executive and adjunct professor at the Fordham Real Estate Institute, said some use cases for ChatGPT are better than others. ChatGPT may help save brokers time when writing listings or responses, but automating client responses may not be the best tactic because generating leads and closing transactions typically requires a personalized approach.
âItâs accessible to everyone right now because itâs free and they can get a taste of how this powerful tool can work. But there are definitely significant limitations,â he said.
While ChatGPT has generated a wave of interest among realtors,incorporating artificial intelligence in the real estate market isnât entirely new. Listing site Zillow, for example, has used AI for 3D mapping, creating automatic floor plans and for its Zestimate tool, which can scan pictures to see if a home has hardwood floors or stainless steel appliances so its price estimation better reflects market conditions. Earlier this week, Zillow rolled out an AI-feature that lets potential buyers conduct searches in a more natural language (something thatâs long been mastered by Google).
Matt Kreamer, a spokesperson for Zillow, said the real estate industry has been slower to innovate, but âI think weâll be seeing much bigger strides very soon.â He saidZillowsees no clear concerns with agents using ChatGPT to help streamline the work they already do and save time.
âWe arenât promoting or wary of ChatGPT but are interested in how itâs being used and watching it,â he said.
Although itâs too early to say if the tool will become a mainstay in real estate, realtor Johannes believes AI in general will transform hisindustry and others.
âIt may not be with ChatGPT,â he said, âbut I believe some form of artificial intelligence like this will become a big part of how we work and live our lives.â
This column does not necessarily reflect the opinion of overwrite.ai and its owners.
This story has been published from an article in CNN published on 28th January 2022.
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
Like a pride of lions, your reputation, and that of your Agency, are intertwined. And in the Real Estate Animal Kingdom, only the strongest survive.
Itâs no secret. Your industry is more challenging now, than ever. The potential for massive earnings and the low barriers to entry, are leading to increasing competition.
Greater compliance oversight. Rising portal charges. Interest rate hikes. These are all very real challenges that demand your continuous evolution.
Hereâs the bottom line. Estate Agents are pack animals, not lone wolves. Every Agent is bound to an Agency, and must work together to market themselves and their properties.
Butwhat if your marketing department is failing YOU?
Hunting Together
To survive, indeed to thrive, you must hunt together. You will only ever be as strong as the brand you represent. How that brand markets itself, and markets you, is critical to your success. So ask yourself, âIs the brand I work for doing everything possible to support me?â
Continuous evolution. I said it before. Iâll say it again. If your agencyâs marketing team arenât doing enough to have your back in this cut-throat animal kingdom, you die. If they stand still, falling prey to the complacency of how they do things, you die. If they are not leveraging the latest technologies, guess what? You die.
Your marketing team has got to be top-notch. If theyâre scrimping on budgets, or out of touch with tech, theyâre no good to you. A weak link in your chain. Impeding your earning potential.
Animal Rights
Itâs your right to query anything that could impede or enhance your income. If theyâre not on their game, theyâre taking you down a road to nowhere. Pure and simple.
You need to know where your marketing departmentâs budget is being spent. And what thatâs getting you in return.
Here are 5 questions that all Estate Agents must be asking their marketing departments in 2023:
What international and local best practices are baked into your marketing strategy?
Are you originating tactics to distinguish you from competition, or just copying what others do?
Do you consciously try to drive traffic to our website, and not just portals? How? What are the results?
How do you ensure that the quality of content we, and our brand, publicly associate our names with, is always of the highest standard?
For each marketing dollar you spend, what is our ROI? (Tip: Nothing less than 300% should suffice)
A Fighting Chance
overwrite.ai is a real estate domain-specific generative AI tool. This means that it generates accurate, localised real estate content based on specific data sets. The content is designed for customised property marketing listings and helps agents sell more homes.
A Little Tip
The easiest way to know whether your marketing teamâs thinking of your best interest, is if theyâve subscribed to overwrite.ai for you. If not, get them to without further delay. Only then will you understand what youâve been missing.
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
When OpenAI launched the AI chatbot at the end of November, it instantly attracted millions of users, with breathless predictions of its potential to disrupt business models and jobs.
It certainly promises to deliver on a prediction I made in 2019 in my book The Human Edge, which explores the skills needed in a world of artificial intelligence and digitization. I forecasted: “âŠAI can offer us more free time by automating the stupid stuff we currently have to do, thereby reducing our cognitive burden.”
The prize is clear for leaders.
Use ChatGPT to liberate hours spent on simple tasks each week. Then divert this time towards high-impact skills more suited to human beings. Activities such as:
Asking curious questions
Communicating purpose, vision, strategy, and values
Supporting collaboration
Catalyzing learning
Encouraging creative thinking and innovation
AI can help busy leaders make time to become more human
The Emergence of ChatGPT
ChatGPT is not a revolution. However, it is a significant evolution. This free online resource does the same job as previous AI assistants like Siri, Cortana, and Alexa, just better. Crucially, the bot remembers earlier answers in the same conversation. This allows it to adapt and respond more usefully to follow-up questions. The result is eerily like an intelligent, emergent dialogue.
Leadership use cases include faster research and brainstorming to generate ideas for team learning, business development, and strategy. Many will use it to speed up the creation of content they need every day: emails, talking points, and presentations. The AI supports the entire writing process: outlining, editing, proofreading, and summarizing. Wise leaders will use the saved time to engage on a human level with colleagues and customers.
A Tool, Not a Replacement
I would not advise using ChatGPT without judgment and discretion. Blindly outsourcing your emails and meetings to ChatGPT is an accident waiting to happen. It’s also crucial for leaders need to weave their authentic style into all their communication.
This tool can accelerate the start of a thinking process, even if it is soon out of its depth. ChatGPT has yet to learn of world events after 2021, which was the last time it received training information. Like most chatbots, it also occasionally generates weird and incorrect responses. However, if it can provide such credible material for a delicate performance review, it must be helpful in automating more mundane, day-to-day communication.
Empowering the Creatives
Social media is ablaze with amazingly creative uses for this AI, including writing rap lyrics, generating food recipes, and creating new brand names.
For busy leaders, the clock is always ticking. ChatGPT helps with the heavy lifting at the start of a project, process and even a tricky personnel issue. But it’s not a replacement for thought, just the latest AI tool to make us more productive – so we can find the time to be more human.
AI in Proptech
Overwrite is a domain-specific generative AI tool for real estate. This means that it generates accurate, localised real estate content based on specific data sets. Overwrite uses its own natural language machine learning technology together with the data inputted by the real estate agent. The content is designed for customised property marketing listings and helps agents sell more homes.
This column does not necessarily reflect the opinion of overwrite.ai and its owners.
This story is from an article in Forbes published 11th February 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