I have a lot of clients who are using ChatGPT and Claude to help them in their real estate endeavors. At first, they're reluctant to admit it to me. But some point, they'll say things like: I used ChatGPT to help me review the disclosures for this property. Or ChatGPT tells me we should offer this price for the home.
But I'm here to tell you that while these tools definitely can be useful: be careful.
Both ChatGPT and Claude get a lot of things wrong.
In reviewing disclosures, both platforms alternate between minimizing issues that are really important or catatastrophizing elements that are not.
When determining what an ideal price either to offer on or to list a home might be, they are repeatedly way off the mark.
Both incorporate ideas on pricing based on rudimentary algorithms that don’t take into account key issues like: items flagged in inspection reports, how much competition a buyer faces or how many other similar homes are listed in the same area, the number of days on market or if there is something unusual about the layout or lot… Or even what's happening day by day in the property's micromarket and in the greater global economy.
Does this mean you shouldn't use these tools at all?
Of course not.
But triple check. Cross-reference.
At the very least, compare Claud's response to ChatGPT's response to the same prompts..
And above all talk to your realtor about what both platforms are telling you.
The bottom line? Don't take the answers both platforms spit back out at you at face value. Just as you would with a human assistant: check their work.
