Late last year, Robert Levine, 45, CEO of ComOps, a strategic consulting firm, decided to sell the house his family had lived in for 15 years in Cooper City, Florida.
During a drive from Florida to North Carolina, he asked his wife to query ChatGPT about the entire process: whether they could sell the house themselves, a realistic timeline, and how to optimize the selling price. What began as a way to pass the time quickly evolved into a detailed guide for the entire endeavor.
ChatGPT suggested preparation steps before listing, from painting, cleaning, and interior staging to selecting open house times, posting listings, choosing photos, and writing detailed descriptions. Levine followed each recommendation: he renovated areas as advised, arranged for photography, posted listings on various platforms, and held 15 open houses, with one-third of visitors submitting purchase offers.
While real estate agents Levine had contacted previously seemed hesitant about the price and marketing strategy, ChatGPT provided a clear roadmap. Consequently, he decided to list the house at 954,800 USD. "It even helped us notice small details I hadn't thought of before, like every scratch on the wall", Levine recounted.
Despite hiring a private lawyer for consultation, Levine considered this technology crucial from pricing to sale. As a result, the house sold in just five days, for 100,000 USD more than initial estimates from real estate agents. "ChatGPT gave us more confidence in the price the market was heading towards", he said.
Current AI technologies have advanced significantly, handling tasks once considered highly complex, surpassing limits that even top mathematicians or lawyers once viewed as barriers. Not only businesses, but individuals are also using AI for various tasks, from selling homes to completing homework. Some experts predict this technology could drastically change the office job market, and the real estate industry is unlikely to escape its impact.
Levine believes that even those less tech-savvy can adopt this method. He advises everyone to try it: ChatGPT is not about programming, but about having a conversation. Sellers still need to communicate with real estate professionals to ensure they are on the right track.
While AI offers effective support, Levine noted its limitations: he had to be involved in every step, prompting the AI when needed, and hiring a private lawyer to ensure the process. AI cannot organize open houses or clean belongings, but the technology helps sellers be more proactive, observe details more closely, and make decisions with greater confidence.
"AI does not replace experts, but it helps us make more accurate decisions", Levine remarked.
By Ngoc Ngan (Source: Fortune)
