By Kevin Hawkins with Korey Hawkins | Vol. 2 Post 46
REAL AI is a human-created weekly roundup of all things related to artificial intelligence in real estate and emerging AI innovations in other sectors likely to impact our industry. We post a new edition every Friday, and our free newsletter is delivered every Monday.
AI tips from NAR NXT
The National Association of Realtors annual conference – branded NXT – was in Boston last week, and I came back with mixed emotions. The weather did not disappoint as it was spectacular: sunny, in the 50s, and very little wind overall.
But post-COVID, the NAR annual is now half the size of many past meetings, drawing an estimated 10,000 Realtors who seemed to be swallowed up by the cavernous Boston Convention Center. The trade show floor felt smaller, but the traffic seemed better than in prior shows.
Plus, maybe bigger isn’t always better for a trade show, as Drew Fabrikant, CEO of Scout, an hot AI lead gen and customer engagement solution, said he netted 90 ready-to-buy leads on the first day. That’s impressive.
AI was hugely popular among agents but not as much among NAR session planners: only a few of the 70+ education sessions were focused on AI. That was shocking.
One AI networking session in the hall – moderated by Realtor.com’s Angie Javier – was five layers deep with people in a circle, and it could have filled a small meeting room. That session was a standout as agents shared precisely how they used AI tools like ChatGPT. My favorite: For Halloween, an agent had ChatGPT create coloring sheets, which the agent branded with their logo and contact info and gave them to trick-or-treaters.
Marki Lemons-Ryhal always does a solid job weaving in how to leverage AI as an agent. But two other AI sessions with even more terrific takeaways for agents featured Kimberly Offord, an avid AI user and Associate Broker, Coldwell Banker Realty, and a jointly-hosted “how to” session with the chairs of the NAR Emerging Business and Technology Forum, Scott Richard and Julie Whitesell.
A few of Kimberly’s top AI tips:
- Use ChatGPT to do a “brand audit” and do a SWOT – strengths, weaknesses, opportunities, and threats – of your business.
- Leverage ChatGPT to create “lead magnets” you can drive through social channel promotion, i.e., how to lower your property taxes or a guide to downsizing and targeting seniors.
- Tap the power of AI to repurpose content: Video tools like Descript or OpusClip can help you turn a longer video into several 30-60 seconds of smaller bite-sized videos with captions: think TikTok and Instagram Reels.
- You can leverage one 15-minute video through multiple channels: create a blog post, eBook, or an article for a local newspaper or magazine; create YouTube video shorts, Facebook Reels, Facebook Stories, Instagram Reels, Instagram Stories, and TikTok videos.
- Leverage ChatGPT as your think tank, brand manager, marketing director, copywriter, research assistant, and business planner.
- Riches are in the niches, which is also true of a good video: AI can help you create powerful niche videos faster than ever, especially with easy-to-use tools like Canva.
Top AI tips from Scott and Julie – with Scott presenting a use case:
- Videos used to take hours: AI allows you to create powerful videos in minutes.
- Use AI tools to create a lead generation workflow: Use ChatGPT for brainstorming, writing video scripts, and the market copy to promote them.
- Use HeyGen to create your AI Avatar: upload a video of yourself to generate a digital avatar to deliver the script flawlessly.
- Use AI video tool InVideo to convert text-based scripts into video format with stock footage for voiceovers (off-camera videos).
- Use AI to edit videos faster, such as InShot, a mobile AI video editing app that allows you to do it on your phone.
- Use the video on landing pages (Leadpages) and upsell pages: Inserting video in landing pages and signup forms increases the effectiveness; better yet, add an upsell video on your Thank You popup after a signup or other action is completed.
- Offering something of value for lead gen: Use ChatGPT and tools like Typeset (or Canva) to create eBooks in downloadable PDFs for your lead magnet, i.e. “Top 5 Tips for Increasing Home Value.”
- Add automated meeting scheduling to your website or upsell pages with Calendly, allowing you to add a “Schedule a call” button.
For the next NAR NXT in Houston in 2025, I hope the NAR planners were paying attention to how popular the practical AI sessions were and adding more. Agents want AI. (-Kevin)
ChatGPT memory is full
We were elated when ChatGPT published its new memory feature for the paid version in February. We already were teaching ChatGPT in single sessions, but when it gained the ability to learn long-term, it quickly proved to be a huge time saver for repeatable parameters in our prompts.
For example, if we wanted to use ChatGPT to create clever and engaging subheads, it would remember our preferred style: Capitalize the first letter of the first word and any proper nouns, otherwise, use lowercase for all the other words in the subhead.
Now that ChatGPT remembers this instruction, we wouldn’t have to repeat a standard prompt item like that again, right? Wrong.
Why? Because ChatGPT has a memory limit. What? ChatGPT has a memory cap? Yep.
This was news to us because when ChatGPT first announced its memory capabilities, its original blog post, “Memory and new controls for ChatGPT,” never mentioned that ChatGPT had a memory limit.
Last week, we ran out of memory. That sucks. But worse was the only thing we could do to fix the problem: delete portions of its memory.
Our thinking may be old school, but throughout our lifetime with technology, whenever we run out of memory, we just buy more, right?
Isn’t that how companies make more money off us? They hooked us on their tech, got us to become heavy users, we ran out of space, and then they asked us to pay up to buy more space, and we did!
Apparently, ChatGPT hasn’t gotten the memo on this standard tech industry practice that has been around since, what, the invention of the PC? Granted, AI is different. Overloading a chatbot with too many huge files and long prompts can bog it down.
Yet if ChatGPT posted the “Memory is full” notification and offered an upsell to buy more memory immediately, we would have forked over the credit card info and hit submit instantly.
Instead, it took 45 minutes to carefully review the memory and decide which items we needed to keep and which we could delete.
By the way, ChatGPT FAQ does talk about memory limits and management, but it also shows a progressive bar is supposed to be in Settings to indicate how much memory is used, but that bar is NOT shown in our settings.
And if you ask ChatGPT how much percentage of memory it has left, it tells you it does not have “direct access to that kind of detailed metric.”
We never thought we’d ask a company to charge us more, but “OpenAI, can we please buy more memory?”
Bonus read: If you have access to Medium, check out this blog post on troubleshooting full memory in ChatGPT. (-Kevin)
AI Facts
- 97% of executives stated they feel some level of urgency to incorporate AI into business operations – Slack
- 61% of desk workers admitted to having spent less than five hours learning how to use AI – Slack
- 81% of AI users prefer AI over human input for advice or assistance on an important project – Slack
- 76% of office workers reported that they feel the pressure to become an AI expert – Slack
- 2 out of 5 desk workers said they’d prefer working for companies that provide AI tools and enable their use – Slack
Source: Slack (-Korey)
AI Headlines
Real estate industry challenges, change and what to watch in 2025 | 11/11/24 HousingWire
Artificial intelligence makes the Counselors of Real Estate top 10 issues report.
OpenAI’s take on AI agents could come in January | 11/13/24 TechCrunch
Operator will be able to assist you by independently completing routine tasks.
Google’s Gemini AI now has its own iPhone app | 11/14/24 The Verge
iOS users now have access to Gemini Live in their hands.
ChatGPT App for Windows Now Available to Everyone | 11/14/24 PCMag
ChatGPT has become even more accessible to PC users.
Data Creep: The Geography of Artificial Intelligence | 11/13/24 Architectural Record
The US has more data centers than anywhere else in the world, and that is impacting real estate.
Bonus: Is AI a real estate play? | 11/12/24 Podcast from Canada’s Wealth Professional
There’s a real estate play to be found for savvy investors. (-Korey)
AI Quote of the Week
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