ChatGPT and its Relevance to Real Estate Marketing

Helming a 360-degree digital marketing agency dedicated to the realty space for almost 10 years has brought me to believe that technological interventions are always catalysts of growth, especially in the real-estate sphere, where increasing visibility, luring qualified prospects, and cultivating fruitful connections is imperative for the thriving of a company. In the age of the internet, effective marketing strategies are like a treasure trove for real estate companies, allowing them to effectively highlight the unique features and value proposition of their projects to a diverse pool of potential homebuyers.
 
Additionally, it helps brands to negotiate the competitive environment, separate from the competition, and establish a unique brand identity.

A staggering average of 40% growth is witnessed in digital ad spends year on year. The exponential adoption of the internet across all tangents of marketing has drastically transformed the industry into a tête-à-tête scenario – where branding and message assimilation processes are now faster and more action-oriented. Over the years, we’ve seen that digital marketing and digital sales have become the most sought-after trends, even for a traditional industry like real estate. However, staying at par with the lightning-fast speed of the evolving digital space, a tough nut to crack – is why AI-powered tools like ChatGPT are exceptional marketing stimulants that help marketers right from research and ideation to content creation and strategic executions of ROI-driven real-estate campaigns.

This advanced language model built by OpenAI is based on the Transformers architecture, a deep learning model designed to understand and generate human-like text. By leveraging a vast amount of training data, ChatGPT can comprehend complex language patterns, making it a highly sophisticated virtual assistant. 

Screengrab of an interaction with ChatGPT’s responsive dialogue system for insightful information.

Not long ago, my research and strategy team would spend relentless hours creating persona portfolios, comprehending the decades-worth of market research and deep-diving into the nittygritty of competitor strategies. Fast-forward to the team now being equipped with a tool like ChatGPT for extensive research and consolidated information acquisition. With all user data since the dawn of the internet, ChatGPT takes mere seconds to retrieve an information bank for the team to learn and leverage for strategic enhancements. The tool’s a generous helper even when it comes to online and offline marketing executions. Since it's primarily a language model, the tool expertise is in churning out high-quality content assets for brands. From physical brochures, hoarding taglines, and newspaper pieces to research-oriented and SEO-friendly website content, online advertorials, social media post copies, and everything else that the mind could imagine in digital marketing can be ideated to perfection with the research skills of ChatGPT. The digital protagonist acts as a language localization tool for all marketing assets needed to amplify a real estate company’s online presence. As a tech-first agency, Realatte has profited tremendously by experimenting with the tool and optimizing the marketing and branding journeys of our clients.

ChatGPT serves as a virtual assistant that can handle a range of tasks, such as answering inquiries, providing property information, scheduling appointments, and even assisting with property management. This AI-powered chatbot can be integrated across various platforms, including websites, messaging apps, and social media channels. In contrast to the traditional chatbot that responds to user queries with default messages and automated responses, ChatGPT renders the most authentic, uniquely composed, human responses for query resolution. Real estate websites and platforms can use ChatGPT to instantly respond to consumer requests, directing them through property offerings, responding to their inquiries, and providing customized recommendations. This effortless and prompt communication guarantees a great user experience, cultivating trust and developing a close relationship with potential customers. By doing this, a seamless relationship between the customer and the company that meets their demands is guaranteed. For buyers, shifting through countless real estate postings might be overwhelming. ChatGPT streamlines this procedure by serving as a virtual real estate advisor. 

When a customer searches, the software may pull out key parameters like location, price range, and property type and display a more targeted list of results that fit their needs. All of this being said, I also most importantly believe that, in contrast to the common notion in this space, the tool does not replace human efforts and strategic thinking. In fact, it empowers marketers to understand and serve real estate brands in a more efficient and seamless manner. In the near future, I envision more real estate businesses adopting Artificial Intelligence as an intrinsic element of everyday operations, shifting client expectations, and revolutionizing how real estate is built, promoted and sold. Realatte’s victorious attempt to embrace ChatGPT's potential for real estate marketing has truly opened up a world of opportunities and catapulted the agency into a behemoth of productivity, client satisfaction, and expansion

Rohan Shah
Co-founder and CEO,
Realatte Ventures LLP