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I asked ChatGPT what the future of the real estate industry is, and here's what it told me

"Self-reflection is the school of wisdom." – Baltasar Gracián

One of the most basic prompts we’ve played with on this website is to ask ChatGPT what it can do for you, ie:

I’m a real estate agent/property manager - what types of ChatGPT prompts might be useful to me?

From this base prompt, you might get some good ideas - or you might get some average ones (depends on the day!)

But we can go one step further now: DeepMind recently came out with the news that a large language model (like ChatGPT) can optimise its own prompts, and then evaluate its own work and learn from it to deliver you the best output possible.

If that sounded like techno jargon to you, think of it instead in these terms:

Imagine a real estate agent who goes on a listing presentation and then reflects on the conversation and the outcome to arrive at an honest self-appraisal of the meeting. This includes a mark out of 10, let’s say that’s 7. They then list out what could be improved to increase their score to an 8, 9, or 10/10 on the next attempt. Not unlike what we were talking about yesterday.

Illustration of a thought bubble above a real estate agent's head, showing a score of 7/10 changing to 10/10.

I was reading Exponential View on the weekend (one of my favorite newsletters on the future) and they have come up with a two-step prompt to replicate the above on any topic that you want to understand; first by defining an objective and then defining what qualities you want the output to have.

So in this case I’ve modified their prompt to see what ChatGPT thinks the future of the real estate industry is.

This is some of the output:

The second prompt is the learning bit which goes something like this:

Based on this output, generate 3 prompts and their outputs, aiming to maximise the score in all three criteria.

However, I played with this a couple of times and noticed that ChatGPT was making up random statistics about real estate, so I added a bit to it.

Based on this output, generate 3 prompts and their outputs, aiming to maximise the score in all three criteria. Do not make up any statistics in the outputs.

I’m sure you’re all dying to know what the answers are, and they revolve around using generative AI for:

  1. Proactive maintenance (needing fewer resources than the more reactive current methods)

  2. Decision-making and trends (meaning it should become easier to target who will sell next and provide actionable insights for real estate professionals.

  3. Create more sustainable and eco-friendly designs that meet standards but excel in maximising energy efficiency.

Take a look into what ChatGPT thinks the future of real estate is by continuing my chat here.

Happy Hunting 🚀

Illustration of a futuristic cityscape where buildings are designed with eco-friendly features, highlighted to show how generative AI has influenced the designs.