There’s a lot that's being written about the new kid on the block in technology circles, and it’s changing the way some real estate agents work. It’s ChatGPT: an artificial intelligence (AI) language-modeling product developed by OpenAI that can write a property description or draft a legal document with just a few prompts from the user.

Blasting onto the scene only last November, this latest tool of AI is becoming a global phenomenon, with more than 100,000 users already, according to Earthweb.com, in fields as diverse as healthcare, marketing, business services and education. It is little wonder, since the product can churn out essays, stories, song lyrics, social media posts and even research abstracts with varying degrees of creativity.

This newest marvel has been available for free to anyone who wants to use it. If, as is expected, OpenAI at some point tacks on user fee, it is possible that usership may slow.

ChatGPT has its detractors, among them: writers, musicians, illustrators, and millions of other creative professionals who fear they will be put out to pasture or that their work will be devalued, and teachers who fear students will use the technology to produce essays and term papers in ways that are difficult to detect. Some employers, too, worry about data privacy and confidentiality if workers willfully or innocently share information on ChatGPT without policies and guardrails in place.

But real estate agents are starting to use the tool to write more flowery listings than they could write themselves – saving time and effort – and for writing emails and social media marketing posts.

There are drawbacks, however. Some of the material produced via AI may be formulaic if not downright inaccurate. Because the National Association of REALTORS® Code of Ethics prohibits the exaggeration or misrepresentation of pertinent facts, careful proofing by the user is a must.

Also, since AI models are only as objective as the data they are trained on, improper wording could lead to fair housing violations.

There may be issues of privacy – and case law is not yet clear about whether work generated by AI can be copyrighted – or who should own the copyright.

At the very least, agents experimenting with ChatGPT should:

• Review AI-generated content for accuracy and suitability.
• Double-check all AI-generated content for fair housing compliance.
• Consider using AI as a starting point, and not to write entire articles or blogs.
• Do not use AI to create a work you want to be copyrighted.
• Never assume any third-party content was created by AI and available for your use without consent. Get written permission to use it and save the documentation.

This material is meant for general illustration and/or informational purposes only. Although the information has been gathered from sources believed to be reliable, no representation is made as to its accuracy. This material is not intended to be construed as legal, tax or investment advice.  You are encouraged to consult your legal, tax or investment professional for specific advice.

Sources:

Business Insider, That real estate listing you just saw for your dream house may have been written by ChatGPT, Jan. 23. 2023

Long Island Board of Realtors (LIBOR), Limiting the Use of Chat GPT in Your Real Estate Business, May 11, 2023

About Bobbi Pronin

Bobbi Pronin is an award-winning writer based in Orange County, Calif. A former news editor with more than 30 years of experience in journalism and corporate communications, she has specialized in real estate topics for over a decade.

Bobbi is not an employee of Anywhere Integrated Services or affiliated with its title companies.