Key Details:
- On May 2nd, Zillow announced the launch of its ChatGPT plugin, which allows users to search for homes or ask about specific property listings using conversational language.
- On May 3rd, Redfin announced the launch of its own ChatGPT plugin, which also allows users to search for homes using conversational language.
A new ChatGPT plugin is about to change the way people search for their next home. Zillow announced the launch of its new plugin—the latest step in its development of a housing super app—on Tuesday, May 2nd.
The next day, Redfin announced the Redfin ChatGPT plugin, linking to the same waitlist as the one included in Zillow’s press release.
Zillow’s and Redfin’s collaborations with OpenAI have produced ChatGPT plugins that allow consumers to use natural language during their home searches. This includes asking about specific property listings or searching for homes using criteria like location, bedroom and bathroom count, and price range.
The Zillow plugin then pulls relevant information from Zillow’s extensive real estate database, while the Redfin plugin pulls information from Redfin’s database.
As of May 2nd for Zillow and May 3rd for Redfin, the plugins are accessible to a select number of ChatGPT users, with larger-scale access anticipated in the future.
Generative AI is changing the way people search for information. At Zillow, we’ve been embracing AI and machine learning starting with the Zestimate® in 2006, and later introducing personalized recommendations and natural language search – which means we’re well-equipped to help customers search and find homes in this new way. As the first major residential real estate marketplace to bring advanced, AI-powered search to the home-shopping experience, we understand its immense potential, and we look forward to developing more tech innovations with OpenAI technology in the future.
I think the most powerful way the Redfin ChatGPT plugin can make buying a home easier today is by suggesting homes and neighborhoods that would not have been uncovered via a map-based real estate search.
Zillow’s progress on the housing super app
Zillow’s ChatGPT plugin is another significant step toward building a housing super app. To quote their press release, this housing super app will offer Zillow users a “seamless connected experience across all their real estate needs: buying, selling, financing, and renting.”
In January of this year, Zillow launched natural language search queries on its apps and websites. This ChatGPT plugin is the newest example of Zillow’s use of natural language technology to make the homebuying process easier for its customers.
It’s also the latest of many examples of AI functionality added to its products and services, including—
- The neural Zestimate
- Computer-vision powered rich media experiences
- AI-generated immersive floor plans
For the time being, the ChatGPT plugin is in its alpha phase, giving both Zillow and Redfin time to improve and enhance the experience based on user feedback. The maker of ChatGPT, OpenAI, has implemented safeguards to prevent or at least minimize inaccurate or inappropriate responses.
That said, plugin users should keep in mind that, especially during the testing phase, the experience may not meet their expectations in every respect.
Add your name to the waitlist if you’re curious and willing to share constructive feedback.
Redfin’s aim to go beyond map-based real estate searches
Since inventing map-based real estate search, Redfin has developed machine learning models to suggest property listings and estimate home values. Now, with the advent of large language models (LLMs), Redfin has joined Zillow in using AI to make home searches easier and more personalized.
New listings declined by 23% in March, falling to their lowest level on record. Redfin agents are among those reporting that today’s home buyers are having to invest more time and energy to find homes that meet their needs.
Through a simple conversation with the Redfin ChatGPT plugin, a homebuyer can get suggestions of homes for sale in nearby neighborhoods with similar amenities they might not otherwise have considered. This could also help home sellers get their listings in front of a wider audience of serious buyers. We’re just getting started, and the Redfin ChatGPT plugin is getting more powerful every day. We’re excited to find new ways to use it to make buying, selling or renting a home simpler and more affordable.
That said, buyers working with real estate agents have a right to expect some creativity, resourcefulness, and high-value follow-up when it comes to suggesting properties in or around the neighborhoods originally targeted.
Top takeaways for real estate agents
With AI developments coming fast and furious to so many aspects of modern life, it makes sense to familiarize yourself with what it can do—as well as its (current) limitations.
If you’re not using AI tools that can help you streamline your business and handle some repetitive tasks, someone else is. And while AI won’t replace great real estate agents, it will very likely replace those who either do the bare minimum and expect clients to come knocking or try to do it all themselves rather than delegate and learn how to make the best use of their time.
Focus on delivering to your clients the kind of value that AI cannot.
