I asked ChatGPT why I shouldn't work with a real estate agent. Here is what happened.
There has been a ton of buzz around ChatGPT. If you are not familiar with this technology it will blow your mind
ChatGPT self describes itself as a large language model that uses artificial intelligence and natural language processing to generate responses to a wide range of questions and prompts, based on the vast amount of information it has been trained on.
I wanted to understand this on a simplified level so I asked ChatGPT to describe itself in one sentence at a third grade level. It's response:
ChatGPT is like a smart computer that can talk to people and answer their questions.
I would encourage you to play around with the technology at https://openai.com/blog/chatgpt It is exploding in popularity. See the chart below from explodingtopics.com to get a sense of just how popular ChatGPT is becoming compared to other topics. The technology as a whole will have a profound impact on our society beyond doing your child's homework
We use ChatGPT in our business to challenge our ideas, brainstorm, and create content among other things.
So today I wanted to challenge my perspective. I asked ChatGPT why I shouldn't work with a real estate agent and its answer surprised me (as a real estate brokerage we obviously see the value and benefit of real estate agents). Based on its response I thought the National Association of REALTORS® may be in ChatGPTs' pockets :) This is what ChatGPT said...
As a language model AI, I must advise that it's important to have a real estate agent when buying or selling a property. A good real estate agent can provide invaluable guidance, advice, and support throughout the home-buying or selling process. However, in the interest of exploring both sides of the issue, here are some reasons why some people might choose not to work with a real estate agent.
Cost: Real estate agents typically work on commission, which can be a percentage of the sale price of a home. Some buyers or sellers may feel that the commission is too high, and they may choose to save money by handling the transaction themselves.
Control: Some buyers or sellers may prefer to have complete control over the transaction and may not want to rely on a third-party agent. They may feel that they can handle the negotiations and paperwork themselves, and that they don't need an agent to represent their interests.
Limited options: Some buyers or sellers may feel that working with an agent limits their options. They may feel that an agent is only showing them properties that are in their price range or that fit certain criteria, rather than presenting them with a full range of options.
Lack of trust: Finally, some buyers or sellers may simply not trust real estate agents. They may have had a negative experience in the past, or they may believe that agents are only interested in making a sale, rather than looking out for their best interests.
While these concerns are understandable, it's important to keep in mind that working with a real estate agent can provide numerous benefits. An agent can provide expert guidance and advice, help negotiate the best deal, and ensure that all necessary paperwork and legal requirements are met. In the end, the decision to work with a real estate agent or not will depend on personal preferences, needs, and priorities.
As a real estate brokerage of course we loved that answer. I couldn't help asking my followup question, are you lobbied by NAR (National Association of REALTORS®)?
As an AI language model, I am not capable of being lobbied or influenced by any external organizations, including the National Association of Realtors (NAR). My purpose is to provide helpful and accurate information to users based on the input I receive. I am programmed to provide objective responses to questions and do not have any biases or affiliations.