What does Mainstreet REALTORS® think about AI, Artificial Intelligence?
This headline poses a big question. I’m not sure. Let me ask Chat GPT. (Just kidding).
Aside from the larger question – should we even take an overall For or Against position on AI? – it’s important for us to understand how REALTORS® and consumers are already using AI technology in real estate. More importantly, we need to know how to advise Mainstreet members on the pros and cons of using AI in their businesses.
For example, we know that roughly two-thirds of all real estate agents in the U.S. have used AI (mostly Chat GPT and similar tools) at least a little. And about half of those use AI to create listing descriptions/marketing content. The downside? This AI-generated content could be problematic if it’s not checked and edited for accuracy and fair housing compliance.
On top of that, you could be in further danger if you’re using free versions of AI tools. Because you’re probably contributing to someone else’s content and security; not your own.
[1]Here’s a quick list of how REALTORS® are using AI:
Listing copy + marketing content: Writing listing descriptions, social posts, email nurture, open-house blurbs. Tip: Feed the model structured property facts, fair-housing guardrails and your voice to stay compliant and on-brand (Source: NAR).
Rapid creative for visuals: Using virtual staging, enhancement, video scripts and reels to showcase home features when full staging and video budgets aren’t feasible. Tip: Combine with clear disclosure to avoid misrepresentation (Source: TheRealEstateTrainer.com).
Follow-up and CRM hygiene: Drafting first-touch replies, lead-routing snippets and task summaries, then handing off to your CRM. (Source: NAR).
Market prep and comps support. Outlining CMA talking points and neighborhood briefs that you verify with MLS data. AI is a prep assistant, not the source of record. It’s time saving and client-experience enhancing. Tip: Use AI to assemble, then validate. (Source: NAR).
For the last several years, Mainstreet has produced and hosted our own in-person tech and marketing conference, Propel, with a focus on AI.
Moreover, we’ve made a sizable investment in big tech for our members, launching a new digital experience on the Membio platform including MainstreetRealtors.com, the MyMainstreet member portal and a consumer listings website, ChicagolandHomes.com. The Membio platform is always evolving and changing and will increasingly incorporate AI technology to deliver better service and free leads to our 19,000 members.
We’re also ramping up the use of other AI tools in our communications and marketing work, notably with video.
Coming this December, our own Carrie Little is teaching the three-hour CE course – Innovation of Real Estate: Embracing AI, Ethics, Digital Marketing and Data. Fittingly, we’re offering this via Zoom.
Coming back around to the question of, “why do we at Mainstreet REALTORS® care about how AI is used in real estate?” The answer is related to our Big Why: Mainstreet empowers every member to define and achieve their goals.
If AI can help you achieve your goals faster – and if you use it wisely, it certainly can – then we care about that. Because we care about anything that can make you more successful (while also keeping you out of trouble). We’re obsessed with what works.
The live virtual mastermind that I was part of featured Chris Smith as keynote speaker. He said that empathy is the new currency. Meaning that when virtually (no pun intended) everyone in real estate ends up using AI to do basic research and writing, automate tasks and save time and money – you can still differentiate yourself by being human. That’s good news.
“Average is over,” said Smith. “Create memorable moments.”
That’s exactly what we’re about at Mainstreet REALTORS®. We’re here to give context and clarity to our ever-changing real estate landscape. And give you opportunities to learn, grow and thrive. Whether that’s learning more about AI – sign up for Carrie’s course! – or engaging in some other way in our diverse and forward-thinking community.
As I said at Propel two summers ago, I’m a big sci-fi fan. I love the Terminator and Matrix movies. But I don’t believe technology is here to usher in doomsday.
It’s here to be a tool that we can all better understand to help us do our work.
John Gormley is CEO of Mainstreet REALTORS®
[1] This list was created using ChatGPT
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