Four sessions on AI were delivered Sunday during eXpcon’s popular XCamp event, starting with eXp Realty powerhouse agent Phil Stringer leading an interactive discussion on how to use AI tools in real estate. He started with a some insight on the history of AI.
“Most people don’t realize that AI has been around since the 1950s,” he explained. “It couldn’t create anything new, it could only predict numbers and sequences. That changed in the 2000s with predictive technology. It’s so critical to understand how AI works in order to understand how to use it.”
Phil also gave some tips and tricks for using AI to get the best results, from using positive instead of negative language to the benefits of having a team account and setting up a voice knowledgebase for individuals. He also talked about how AI can be used to increase efficiency, but knowing how it works is key.
“One thing to keep in mind is that chatGPT has been trained up to October 2023,” he said. “So if you want current mortgage rates, you have to tell it to search the web for current mortgage rates and then it will prioritize searching the web for a current answer.”
He also advised attendees to use AI for what they are already good at.
“AI is best used to do things you are already good at but you just need it done faster,” he said. “For example, if you know about current real estate trends, and you ask it to write a blog about that, you will know if it’s correct, AI just got it done faster.”
When asked about using AI for property descriptions, he advised on entering the information you have on a house, and instruct it to ask any questions it has. “Then you can answer what you are able to and ignore what you don’t know and it will be much more accurate,” he said.
In an ever-evolving real estate landscape, Phil’s insights on AI provided a practical roadmap for agents looking to leverage technology to their advantage. By understanding the foundational principles of AI and applying it to areas they already excel in, agents can enhance their efficiency and stay ahead of the curve. As AI continues to shape the industry, adopting these tools thoughtfully will be key to staying competitive in the market.
How to Leverage AI to Improve Your Business
The AI discussion continued with Ben Laube taking the stage to talk about how AI can improve your business.
“While AI has leveled the playing field, we need to look at it as an opportunity,” he said. “The next curve of AI is coming and it will likely start replacing call centers as a next step. You will see it has very human characteristics but being able to make thousands of sales calls a day, as an example.”
He talked about how he leverages AI to create custom campaigns, for example birthday reach outs and videos as well as scripts for videos on social media.
“AI is so critical today that when you hire, you should find out how well-versed they are in AI and qualify them now,” he advised. “AI will only get more and more important to us as real estate professionals.”
The group also discussed the various AI platforms currently available, what each one is ideal for and how they can be used according to their strengths.
“It’s also really important to challenge your team members to go out and become familiar with AI,” he said. “For example, ask them to find three AI tools that would make their job easier.”
The discussion closed by highlighting the undeniable impact AI is having on the real estate industry, emphasizing both its current applications and future potential.
How to Transform Real Estate Lead Generation and Client Relationships
Michael Weisman took the stage to talk about how AI can generate leads and solidify relationships. A key example he gave was using AI to get clients to give and post quality reviews that generate additional business.
“AI platforms like Otter and Firefly are critical for generating reviews,” he said. “If you install one of those and call a client to talk about how their transaction was, the platform will transcribe it. Then you can ask it to write a review only based on that information. Copy and paste that and send it to the client. It’s their words, it just solves their writer’s block and it’s being done for them. Then you get their permission to use it.”
He further explained that every transaction has four potential sources of reviews: the client, the title company, co-broker and lender. “That’s four reviews that can boost your business,” he said.
AI can also be used to help generate reports and guides that can be used to secure listings and boost credibility and confidence. “With specific prompts you can really generate a quality product very easily,” he said. “The bottom line is we need to be using AI to develop content that showcases us as the authority and boosts confidence.”
Mary Akbari Shares AI and Content Creation Secrets for Authentic Engagement
Mary Akbari concluded the AI sessions by emphasizing the importance of producing high-quality content for social media.
“Focus on the platforms you are good at and really take the time to learn how to fully leverage them,” she advised. Her message to the attendees was clear: mastering a few key platforms is more effective than spreading yourself too thin.
She also inspired the audience to “find their “and.’” These “ands” represent the passions and interests outside of real estate that make individuals unique and relatable. “Your ‘and’ helps set you apart,” Mary explained, “It makes you more appealing on a personal level and can deepen connections with your audience.”
Mary further shared her team’s success with AI and basic editing tools to streamline video content. “You don’t need to be a tech expert,” she noted. Her team has found that using simple platforms for quick video edits can yield the highest number of views, ultimately converting those into valuable leads.
In closing, Mary highlighted that, while AI is an incredible tool for efficiency, it’s the personal connections and authenticity that truly make a lasting impact. By blending AI-driven content creation with their unique personal stories, real estate professionals can both stand out in a competitive market and build deeper, more genuine relationships with their clients.
