It’s no surprise AI has been playing a larger role in consumer decisions.
People have been turning to online sources for info on major life concerns for a while now, from looking up mystery symptoms to finding a YouTube tutorial on swapping out a headlamp bulb to checking out local property values.
That said, ChatGPT, Gemini, and Claude have made it even easier to get answers in a matter of seconds.
And lately, more consumers have been putting it to the test for insights into property values and pricing strategy.
Buyers are using AI tools to find homes and ask about the best real estate agents in their area. Homeowners are asking LLMs for estimates on their home’s value. And most sellers are likewise turning to these tools for insights on the best pros to contact.
What many agents are now experiencing, though, is similar to what Ryan Serhant reported when his $50M deal ground to a halt.
- Buyers are asking ChatGPT for advice on how much to offer for a property.
- Sellers are asking ChatGPT for advice on how to price their property.
And when both sides are asking ChatGPT about the agreed-upon dollar amount, even deals that seem secure can go sideways in a heartbeat.
Which is why The Broke Agent posted recently to ask agents about their experiences with AI, specifically as a tool buyers and sellers are using as back-up for their doubts and opinions.
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Is ChatGPT Sabotaging Your Deals?
Honestly, it was only a matter of time. If you’re a parent, raise your hand if one of your kids has come to you with a ChatGPT reply on their phone screen to argue against an unpopular decision you’ve made.
And it starts so innocently, too: “Mom, could you look at something for me, please?”
Turns out, real estate agents are going through something like that, too.
In his post description, The Broke Agent broke down what AI generated responses feel like:
“Yes, I think your agent is wrong despite the 30 comps he showed you. You should, in fact, go with your gut and list it 20% over market value!”
(That’s actually not far off from what AI told the seller in Ryan Serhant’s $50M deal.)
He then asked this question in the post description:
“Did you see ChatGPT almost blew up one of Ryan Serhant’s deals? $50M, too …
“Has this happened to you, yet?”
Here’s a sampling of the comments to show how agents responded:
So, has ChatGPT ever killed one of your deals? Or has a buyer or seller come to you with a ChatGPT objection (which is now, apparently, a thing)?
Head on over to Instagram or Facebook to share your thoughts.
