Earlier this month, a seller was all over the news touting that he sold his home using ChatGPT. He claimed it was a huge success, having sold his home in 5 days for $100k over his asking price.
Sounds great, right? Except for one problem - the seller unknowingly priced the home $250k BELOW market value.
Who won? The buyer, of course, using an expert Realtor who could assess the real market value and help them secure the winning offer.
While ChatGPT and other LLMs can evaluate quantitative data such as average or mean price per sq ft, it does not assess qualitative factors that can impact price, such as floorplans, updates, items on disclosures like previous flooding, or external influences like being near a busy road or cemetery. That's just some of the many things that can impact pricing, and it takes an experienced Realtor looking at each home on the market (sold, pending, and even active), to assess where a new listing can be best positioned for the current market.
If you're curious what your home could sell for in today's market OR how I can best position you to gain the upper hand as a buyer, connect with me and we'll discuss the best strategy to help you meet your real estate goals.
See full article here about the ChatGPT vs. Realtor deal: https://bit.ly/41oydOM
