AI is becoming increasingly prevalent across industries, including commercial real estate. Currently, AI tools like ChatGPT help check grammar and tone in marketing materials, property descriptions, letters of intent and right of first refusal contracts. Although it is a helpful tool, there can be issues regarding AI picking up incorrect information, and plagiarization. Despite these shortcomings, real estate professionals have started integrating AI tools into their everyday practice.
ChatGPT isn’t able to access real-time real estate data yet. But once those capabilities are developed, it would improve listing searches. A potential way this could happen is by narrowing listing searches based on client preferences. Real estate preferences would then pick through the narrowed results to identify properties that would work best for their clients.
