– Panelists at Inman Connect New York discussed the importance of diving into topics like artificial intelligence (AI) and embracing its potential in the real estate industry.
– Successful agents in the tough real estate market of 2023 were those who listened to the whispers of opportunity and took what was useful from the news.
– AI was a key tool for agents who doubled down on their content creation and used AI to enhance their marketing strategies.
– Carrie McCormick of Christie’s International Real Estate shared her experience of using AI through a partnership with Modwell to create a digital twin that assists clients in navigating digital showrooms and narrates listing and neighborhood tours.
– Carrie Soave of eXp Realty emphasized the importance of “prompt engineering” and advised agents to upload market reports to ChatGPT to ensure accurate and reliable content creation.
– Soave encouraged agents to start using AI as affordable leverage and warned against underestimating the competition who may already be utilizing AI.
– Karen Stone of Engel & Volkers highlighted the need for realtors to embrace AI, even if their clients may not fully understand it, as it can provide a competitive advantage in the market.
– Overall, the panelists emphasized the importance of embracing AI and using it as a valuable tool to enhance marketing strategies in the real estate industry.
Grab the opportunity, Carrie McCormick of Christie’s International Real Estate, Carrie Soave of eXp Realty and Karen Stone of Engel & Volkers told Inman Connect New York attendees.
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When it comes to a topic like artificial intelligence, it can be easy to be intimidated, but the best way to dive in is to do just that — dive in, according to panelists at Inman Connect New York on Tuesday.
In a session called “How Today’s Top Agents Are Taking Their Marketing To The Next Level,” panelists Carrie McCormick of Christie’s International Real Estate, Carrie Soave of eXp Realty and Karen Stone of Engel & Volkers shared how they dealt with 2023’s tough real estate market.
“One of my favorite quotes is ‘Life is about 10 percent that happens to you and 90 percent how you respond,’” Stone told attendees.
While there was “a lot of doom and gloom” in the news, successful agents were those who took what was useful from it for their market and then turned to “listen to the whispers of opportunity,” she added.
For Soave, that was AI. Real estate agents who “won” last year, “doubled down on their content creation and used AI to do it,” Soave, an AI consultant for agents and teams, said.
McCormick said she’s filmed a video every day for years and has built her brand on Instagram, but is taking advantage of AI through a new partnership between Christie’s and design tech company Modwell.
“They’ve built a digital twin for me and she lives online and she’s super nice,” McCormick said, prompting chuckles from the audience. “And she’s me.”
Her digital twin “walks” clients through a digital showroom and narrates listing tours and neighborhood tours.
“She’s got my voice,” McCormick said. “We did an AI copy of my voice. It’s a little scary. But it’s an incredible tool and it just keeps evolving. I think they’ll never replace us, right? We always need to be there, but it’s great to have her as an assistant.”
Soave said she teaches agents “prompt engineering,” which is the art of being able to talk to a generative AI model.
She advised agents to start by uploading a market report for their area to ChatGPT.
“If you are feeding ChatGPT the content and the data, there’s going to be way less room for mistakes,” Soave said.
“I can create a marketing plan, a prospecting plan, an ad campaign. I don’t create anything for my agents without first uploading data that I want it to read and reference and use as a resource.”
Her advice for agents today? “You just need to start, especially with AI,” Soave said. “AI is leverage, but it’s affordable leverage. It’s affordable for every single person. You no longer need to hire a marketing team.”
She added, “Do not count out those agents in the office next to you because they’re gonna jump on the AI bandwagon, and they’re gonna surpass you if you’re not using it. Remember, our clients do not need to understand AI to know that they’re gonna want their Realtor using it.”
Property Chomp's Take:
Artificial Intelligence: The Affordable Leverage for Real Estate Agents
Artificial intelligence (AI) may sound intimidating, but according to industry experts, it is a tool that real estate agents can no longer afford to ignore. At a recent panel discussion at Inman Connect New York, top agents shared how they used AI to navigate the challenges of the real estate market in 2023.
Carrie McCormick of Christie’s International Real Estate, Carrie Soave of eXp Realty, and Karen Stone of Engel & Volkers emphasized the importance of embracing AI and leveraging its capabilities to take their marketing strategies to the next level.
Stone encouraged agents to respond to market conditions by listening to the "whispers of opportunity." Despite the doom and gloom portrayed in the news, successful agents were those who found useful information and adapted it to their specific market.
Soave highlighted the value of AI in content creation. She explained that agents who thrived in the previous year were those who doubled down on their content creation efforts and utilized AI to do so. As an AI consultant, Soave advised agents to start using AI by uploading market reports to ChatGPT, a generative AI model. By feeding it content and data, agents can reduce the room for mistakes and create more targeted marketing plans.
McCormick shared her experience with AI through a partnership between Christie’s and design tech company Modwell. She revealed that she had created a digital twin of herself, a virtual assistant that walks clients through a digital showroom and narrates listing and neighborhood tours. McCormick acknowledged the initial eeriness of the AI copy of her voice but emphasized that it is an incredible tool that continues to evolve. She believes that AI will never replace agents but rather serve as an assistant to enhance their work.
Soave reminded agents that AI is affordable leverage and accessible to every individual. She encouraged agents to embrace AI and start utilizing it in their marketing efforts, as it provides a competitive edge. Clients may not fully understand AI, but they will appreciate working with a realtor who utilizes it to enhance their services.
The key takeaway from the panel discussion was that AI is no longer a futuristic concept but a practical tool that can revolutionize the real estate industry. Agents who are willing to dive into AI and leverage its capabilities will be at the forefront of the industry's evolution.
In conclusion, the real estate market is evolving rapidly, and agents must adapt to stay relevant. Embracing AI and incorporating it into marketing strategies is a crucial step in staying ahead of the game. As the panelists emphasized, AI is affordable leverage that agents cannot afford to ignore. The future of real estate is unfolding now, and agents who seize the opportunity presented by AI will undoubtedly thrive in this ever-changing landscape.