- Research lab OpenAI released a new version of ChatGPT in March 2023.
- The latest version is better at creating long-form content like blog posts.
- Real estate agents can use ChatGPT to create educational content.
Thousands of real estate agents are finding interesting uses for the ChatGPT artificial intelligence chatbot application. Real estate professionals can create a variety of educational materials with this application, including long-form content like articles and e-books.
I probably don’t need to tell you what ChatGPT is, seeing as how it has been in the news constantly for nearly three months. So let’s just focus on what’s new about it.
The latest version of this program makes it easier to create in-depth and comprehensive educational content, such as articles, blog posts and even e-books. In a real estate context, agents can now use this application to create high-quality educational materials that serve their audiences.
New Version of ChatGPT Released in March 2023
The ChatGPT AI program has undergone several advancements, since it was first made public back in November 2022. The latest version offers a number of impressive features that real estate agents could use for content creation purposes.
According to OpenAI, the American artificial intelligence research laboratory that created this application:
“GPT-4 is capable of handling over 25,000 words of text, allowing for use cases like long form content creation, extended conversations, and document search and analysis.”
In this context, long-form content refers to lengthy articles, blog posts, guides and e-books. Real estate agents can use ChatGPT to create these types of marketing and educational materials, with incredible quickness and ease.
Real Estate Marketing Applications
Let’s face it, real estate is a knowledge-based business. People hire agents for their detailed knowledge of the home buying or selling process. As a result, those real estate professionals who can best demonstrate their knowledge and expertise tend to have an easier time attracting clients.
Creating educational content is one way to demonstrate such knowledge.
Take blogging for example. Some agents in the U.S. excel at blogging and regularly publish detailed market updates, housing reports, and related information. This allows them to showcase their knowledge, while also attracting visitors through the major search engines.
But blogging is just one way that real estate agents can use ChatGPT. They could also use it to create even more comprehensive educational materials, such as home buying seminars and e-books. For instance, agents might create a detailed home-buying guide specific to the local markets they serve.
These kinds of educational materials could help agents distinguish themselves in a crowded field, while once more showcasing their local market knowledge and expertise. This was always the case. ChatGPT just makes it a lot easier.
One Key Limitation: Current Events
According to the developers, ChatGPT has limited knowledge of events that have taken place since 2021. Because of this limitation, real estate agents probably won’t be able to use it to create current assessments of the local real estate market.
This is one area where a “hybrid” approach might work best. Here’s an example of what it might look like.
An agent could begin a blog post or report by citing statistics that show how quickly homes are selling in the local area. They could explain what this means for buyers, in terms of making an offer and negotiating with sellers.
After that, the agent could shift gears and have ChatGPT offer some tips for buying a home in a highly competitive market. The end result would be a useful report based on current market trends, followed by some helpful advice for the intended audience. In other words — better content.
So even though the current version of ChatGPT has a knowledge lag, it can still be incredibly useful when it comes to content creation. Real estate agents can apply some creativity to get around this limitation, while still enjoying the benefits the application provides.
A Content ‘Arms Race’ on the Horizon?
Real estate agents can use ChatGPT’s AI technology to create content faster and more easily than ever before. Because of this, we will likely see an “explosion” of machine-generated content over the coming weeks and months. In fact, we are seeing signs of such a trend already.
It’s the content equivalent of an “arms race.” Suddenly, every real estate agent has the ability to create a high volume of content, even if they lack the writing skills needed to do it on their own.
Which begs the question, how will all of this play out in terms of search engine rankings and visibility? Google has recently clarified its stance on machine-generated content. The company claims it will not seek to penalize such content (in the form of lower rankings), as long as it serves people in some way.
They recently addressed this subject in a blog post on the Google Search Central Blog, stating:
“Our focus on the quality of content, rather than how content is produced, is a useful guide that has helped us deliver reliable, high quality results to users for years.”
They go on to explain that content that truly aims to help people can be considered “quality” content, even if it’s generated by AI platforms like ChatGPT.
We’re entering uncharted territory here, in terms of the content applications of these technologies. So we don’t yet know how all of this will play out in the long term.
For now, real estate agents who use ChatGPT to create educational content should make sure their materials truly help their audience. This kind of people-first approach brings many benefits for content creators, above and beyond search engine rankings.
Brandon Cornett is a veteran real estate market analyst, reporter, and creator of the Home Buying Institute. He has been covering the U.S. real estate market for more than 15 years. About the author