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So, what’s all the buzz about Chat GPT?

Posted on 7/19/2023 by David M. Dion

Is Chat GPT in your future?

Late last year the very forward-thinking technology company OpenAI rolled out ChatGPT with great fanfare. That roll out included an invitation for a New York Times columnist to take it for a “test drive”.   After a roughly two-hour interview “Sydney” (as chatbot called itself) said it knew the columnist was having marital issues, but not to worry because Sydney was in love with him.  Within hours of the article going public Chat GPT was shut down.

Like many technological innovations ChatGPT was likely launched before being fully vetted. And A.I. (an acronym for Artificial Intelligence) does not know everything. Far from it. But it’s quite adept at pouring through the vast amounts of data available on the internet. That includes both good and verifiable data, and also potentially bad and dangerous data. The result can be hugely useful for all sorts of applications. But it may at times not be entirely accurate. To the credit of Microsoft, the “bug” discovered by the test drive was quickly corrected and the app was back up and available within 24 hours.  

What does Artificial Intelligence and technology like ChatGPT (and its newer version called GPT-4) mean to the average consumer, and how might this affect the real estate industry? The answer is, “A LOT!”.

Indeed, real estate agents are already relying on these types of A.I. programs to collect property information and even script property descriptions. However, if the real estate agent is not diligent in proofreading the result, or is perhaps not entirely honest, then the information produced can be anywhere from overly flowery to downright deceptive. And that’s because A.I. programs don’t follow ethical boundaries. Instead, the programs simply sort through and then summarize results.

Still A.I. can be extraordinarily useful in providing real estate agents with information to perform trend analysis or a comparable market analysis in order to help sellers appropriately price their property for sale. Similarly, A. I. can be a valuable tool to assist buyers in getting a good sense for the right “strike price” for a property they are interested in purchasing. 

However, A.I. will in no way be able to replace the invaluable service a real estate agent can provide to assist both buyers and sellers in understanding the many intangibles that go into purchasing and selling real estate. For example, A.I. cannot possibly properly evaluate those almost indescribably beautiful Bragg Hill or Fuller Hill views!

At Mad River Valley Real Estate this is the part we love the most.  We have years of experience in this marketplace and can provide you with informed and valuable information for making your next purchase or selling decision. And when you contact us, rest assured you will be communicating with a live human being, and not a chatbot named Sydney!

PS: No chatbot was used in writing this blogpost. 

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