By Kevin Hawkins with Korey Hawkins | Vol. 2 Post 28

REAL AI is a human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. We post a new edition every Friday, and our free newsletter is delivered every Monday.

AI from RPR creates market trend video scripts

Video for real estate agents has presented a conundrum since YouTube launched nearly two decades ago.

Agents know the power of video, but most efforts have focused on posting listing videos that get very few buyer clicks. Even though YouTube logs more than 2 billion monthly users and TikTok has over 1 billion active users each month, most agents can’t create videos that connect and engage.

However, AI just might be the game-changer for agents creating impactful videos. An example to check out is 100% free for Realtors from RPR or Realtors Property Resource.

RPR might be today’s most powerful yet underappreciated marketing assistance tool for real estate agents. By leveraging AI, RPR is taking its game to the next level with a video content creation tool that overcomes the No. 1 challenge most agents face when marketing: content creation.

Active agents who can’t offload their marketing tasks to a team member or assistant either lack the time to create content or get stuck on what to create. RPR’s AI-powered Scriptwriter tool solves both problems, making it easier to produce engaging, informative videos and social media posts beyond simple listing showcases.

The Power of RPR’s AI Scriptwriter

RPR has long been one of the industry’s trusted real estate data and analytics platforms. As a national parcel-centric database of residential and commercial properties built exclusively for Realtors, its mission is to create efficiencies that help agents better serve their clients. With AI Scriptwriter, agents can unleash the local information from RPR to create compelling video content in minutes.

How It Works: A Step-by-Step Example

1. Go online to RPR: Sign into your account or create a new one. To set up a new account, you’ll need to be a Realtor and provide your NAR Member ID and MLS ID or Commercial Information Exchange ID.
2. Once logged in, navigate to the Market Trends section.
3. Select location: choose your target area, such as a specific zip code or neighborhood.
4. Open AI Scriptwriter: Click on the Scriptwriter feature within the Market Trends page.
5. Customize settings: You can select a preferred tone and target audience.
6. Generate script: With a click, the AI (ChatGPT working in the background) analyzes the current market data and produces a personalized and tailored video script.
7. Review and edit: Agents must review the script—remember, with AI, you must review everything—and then make any necessary adjustments.
8. Create a video: Your script is ready for you to record your market update video.

The biggest bonus: RPR offers Canva templates to help agents create professional-looking graphics for their local market trends and report videos.

Creating a script is the hardest part of creating a video that will garner attention. RPR Scriptwriter automates this. A rule of thumb for video content is that making one minute of professional content takes one hour of production. With RPR Scriptwriter, you can cut your total production time by at least half, if not by two-thirds.

According to RPR, the Market Trends Scriptwriter has generated content for Realtors over 319,000 times in its first year.

One of the biggest challenges today with AI is providing accurate and reliable data. Scriptwriter’s superpower is using data from within RPR databases. Combining the power of AI with embedding Canva templates inside RPR demonstrates its penchant for finding ways to make content creation easier for agents.

By consistently sharing insightful, data-backed videos in your posts, agents can increase engagement, demonstrate local expertise, build trust, stay top-of-mind, differentiate themselves from competitors, and, most importantly, concretely demonstrate their value.

Since its launch in 2023, RPR market trends reports have been viewed 202 million times. This is a practical AI tool that agents can leverage today. (-Kevin)

Goodbye Google, Hello AI

The iPhone gave us instant information at our fingertips. Ever since my first one, despite defaulting to Safari, Google Chrome has been my browser of choice for it and every other device I own.

I first used Google in beta, and it’s been my go-to source for quick answers ever since. That is, until recently.

Since I signed up for a paid ChatGPT account just after launch, I noticed a significant shift in my search habits. Checking my tech-savvy colleagues, I am not alone.

Instead of defaulting to Google for everyday personal and work answers, we’re turning to AI, specifically ChatGPT 4o, for nearly every type of question.

Here’s why and how I’ve made this switch, along with a few examples of how AI can transform our daily lives.

The Convenience of AI
Using ChatGPT on my iPhone and Mac has streamlined how I get information. The ChatGPT app allows me to verbally ask anything and receive instant, concise answers. It passes Glenn Philips of Lake Homes Real Estate’s one-word tech approval test: convenience.

Travel Questions
It’s summer, and the volume of OOO emails I receive tells me folks are traveling as it’s vacation season.

I now turn to ChatGPT to ask questions that, last year, I would have Googled and then drilled through a half-dozen links to piece together the answer. A quick verbal question now results in a complete answer without a single click in a browser:

• Tipping customs and ride shares: I’ve asked ChatGPT about tipping practices in various countries, whether they have Uber or similar ride-sharing services, and which ones are the most popular locally. It will effortlessly tell me the cost comparisons between local taxis and ride-shares in Barcelona.
• Local time and airport Information: Simple questions like “What time is it in Malta?” or “What terminal does Icelandair use in Rome?” are answered instantly, saving me the hassle of sifting through search results.
• Nearby ATMs: I wanted to know if any Cirrus ATMs were near my hotel. ChatGPT provided the nearest locations and their addresses within seconds.
• International cell coverage: I was curious about AT&T coverage in Tunis. Yes, I could go into my AT&T account and scroll through the list of countries, but ChatGPT gave me what I needed faster.
• Temperature, local currency, and conversions: Simple conversions, such as “What is 19 °C in Fahrenheit?” are handled quickly. Asking, “What is the currency in Tunis?” and “How much is 1000 Dinar to the US dollar?” will save clicks.
• Frequent flyer upgrades: I’ve asked about the likelihood of upgrading a frequent flyer ticket with American Airlines based on status with a partner airline. ChatGPT gave me the bad news, citing AA policy.
• Electrical standards: Before a trip to Costa Rica, I asked ChatGPT about the local electrical plug standards at our hotel, telling me 120v, so we didn’t have to pack adapters.

Beyond practical travel and logistical questions, ChatGPT has been invaluable for more nuanced inquiries:

• Explaining cash offer programs: In conversations, I’ve asked ChatGPT to explain newer real estate topics like cash offer programs for first-time buyers, getting a clear and comprehensive explanation.
• Builder impact fees: When discussing home building costs, I wanted to know how builder impact fees affect the average price of a home. ChatGPT not only provided the information but also cited sources.

Why ChatGPT over Google?
One of the main advantages of using ChatGPT is the efficiency and focus of the responses. Moreover, I can ask questions with incomplete information, and ChatGPT can figure it out when Google fails.

One example: I knew the actor in a movie but could not remember the film’s name. By telling ChatGPT a bit about the plot, it was able to provide the name of the movie instantly. Try that with Google.

ChatGPT’s interactive nature also means I can ask follow-up questions and receive more refined responses. Traditional search engines like Google lack this adaptability, as they provide static results that may not address the full scope of my query.

The shift from Google searches to ChatGPT 4o is changing my daily habits. The speed, convenience, and quality of information have made AI my preferred tool for professional and personal searches.

I see this as a trend and know that Google must be worried, as I would be if I were in their shoes.
(-Kevin)

AI Fast Facts

1. 72% of companies reported adopting AI in 2024, a significant jump from around 50% in previous years – McKinsey
2. 71% of business leaders said they rather hire a less experienced candidate with AI skills than a more experienced candidate without them – Microsoft
3. Jobs requiring AI specialist skills carry up to a 25% wage premium in some markets – PwC
4. Desk workers at companies that have issued guidelines for how AI can be used are nearly 6x more likely to have experimented with AI tools – Slack
5. 89% of daily GenAI users report increased productivity compared to just 39% of monthly GenAI users – Asana

Source: Upwork (Korey)

AI Headlines

Generative AI Is Your Ally for Smart Staging, Faster Deals | 7/8/24 NAR
Another AI staging app joins the fray to offer virtual home staging.

Will AI replace Realtors? Embrace it to stay competitive | 7/8/24 Real Estate Magazine
AI use in real estate is no longer optional but essential.

Microsoft quits OpenAI board seat as antitrust scrutiny of artificial intelligence pacts intensifies | 7/10/24 Associated Press
Microsoft makes a move in an attempt to lessen the chances of government intervention.

The Washington Post debuts AI chatbot | 7/9/24 Axios
D.C.’s biggest news source uses AI to answer questions about climate.

Warnings About an AI Bubble Are Growing. When Could It Burst? | 7/10/24 Inc.
As the AI gold rush surges, the pressure for sustainable AI models continues to grow.
(-Korey)

AI Quote of the Week

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Content suggestions welcomed: email korey@wavgroup.com.