David:
That is the BiggerPockets Podcast present 811.

Mark:
So when all people zigs, you zag. And so when the world does turn out to be a duplicate and paste, all people’s doing SMS, all people’s doing e mail, when all people’s simply counting on automation, what are you able to zag as an alternative of what all people’s zig?

David:
What’s occurring everybody? It’s David Inexperienced, your host of the BiggerPockets Actual Property podcast right here at the moment with my co-host Rob Abasolo, who will truly be taking up the reigns and internet hosting at the moment’s present. Or is it Rob? It may be a deep pretend that we’re throwing at you. Take heed to the present and tell us within the feedback if you happen to suppose this was actual Rob or AI Rob. At present’s present is all about synthetic intelligence, the way it can damage your actual property enterprise, the way it will help your actual property enterprise, the way it could make you cash or lose you cash, all that and extra. And we’ve introduced in some assist. We’re joined by Mark Simpson of Boostly, who shares his ideas on how he’s utilizing AI to assist his enterprise and provides clients a greater expertise. And Rob truly says a couple of clever issues in at the moment’s episode as nicely. Rob, you’re greater than only a fairly face who’s shedding lots of weight, getting tan and placing on muscle. How are you at the moment?

Rob:
I’m doing good, David. Thanks for asking. I’m doing swell. I’m going to Las Vegas tomorrow and I’m excited as a result of I’m going to go see a Dell, the true model.

David:
Which Dell are you going to see?

Rob:
The primary one, the primary and solely. I’m going to have a look at a Dell laptop. I’ve been taking this buy very severe.

David:
Is that this the farmer within the Dell? What’s the Dell that the farmer goes to? Are you aware what that’s?

Rob:
I don’t know what that’s.

David:
Tell us that in feedback as nicely. If anybody is aware of what the Dell is that the farmer is utilizing. Rob in at the moment’s present, what ought to individuals preserve an eye fixed out for that may assist them of their enterprise or perhaps assist them keep away from potential pitfalls that might price them cash of their enterprise?

Rob:
So I believe we’re speaking about a couple of AI instruments right here and some different instruments that might allow you to optimize your online business, however supplying you with precise sensible use circumstances for your online business, whether or not it’s actual property or anything. However particularly I believe that at the moment’s message is we’re not right here to switch ourselves. We’re not right here to switch our workers. We’re not making an attempt to take jobs or lower our group. We are attempting to reinforce ourselves to be probably the most environment friendly and optimum model of our enterprise selves in order that hopefully our enterprise can make more cash.

David:
That’s the secret. Earlier than we get to the present, our fast tip is if you wish to develop your online business, think about getting a CRM. The thought is you’ll want to handle your clients and your shoppers and the individuals that you simply wish to do enterprise with as a way to be organized and systematic in the best way that you simply keep in contact with them. In the event you’ve been making an attempt to maintain all of it in your head or on an Excel spreadsheet, cease. Look into getting a CRM and turn out to be an expert in the true property area, not an novice. All proper, let’s speak some AI in actual property.

Rob:
In a not so distant future, when AI guidelines the land, these three buyers are out to get properties with a vengeance. Machine studying has cornered the market. So how will these vigilant buyers survive, David?

David:
So if you happen to two are skeptical about AI, you aren’t alone. In actual fact, I’ll go as far as to say persons are already abusing AI. I get tons of messages in my Instagram account each single day from individuals which are wanting to make use of synthetic intelligence to edit my movies and cost me for it. I’ll attain out to individuals asking for one thing and I’m clearly speaking with a chat robotic that I don’t wish to be speaking to. That’s stalling for time. Firms are bragging about synthetic intelligence, placing them on the innovative, however we’re speaking about expertise that doesn’t work very nicely, and it’s changing the human factor. If you consider once you go keep at a Airbnb or at even a resort, if there’s no person to verify you in, we’ll steadily brag about how AI has gotten us out of the enterprise, however we by no means give it some thought from the attitude of the consumer.
That’s the factor that I simply need everybody to remember. If you’re taking a look at a brand new type of expertise or a enterprise alternative, it is rather simple to have a look at the way it’ll profit you. However as a enterprise proprietor, we construct our enterprise on the muse of the consumer. Rob steadily talks about including facilities to short-term leases to provide a greater expertise to the consumer. You’re making an attempt to design a home in order that the consumer can be pleased with it. Nicely, if the consumer isn’t joyful after they’re making an attempt to verify in and there’s nobody they’ll speak to, they’re in all probability going to go away you a nasty assessment and it’s going to price cash.
And AI just isn’t going to easy out an offended individual like a human being may that can provide empathy and share concern. And to not make this private, however I used to be hanging out with Brandon Turner who was bragging about how a lot he loves ChatGPT, and he requested ChatGPT what kind of animal I might be, and it mentioned an owl, and I wasn’t tremendous thrilled about that. I used to be in search of a lion, probably a grizzly bear, one thing somewhat extra majestic like a Griffin. I simply wasn’t joyful about being referred to as an owl, and I can admit that that may have coloured me somewhat irritated with ChatGPT.

Rob:
Nicely, thanks for that Black Mirror episode, David. I’d inform you to pitch it to Netflix, however a bot in all probability already has. Mark Simpson from Boostly, the way you doing, man? After listening to DG out, is there something that you simply’d wish to say as a rebuttal?

Mark:
Nicely, hey. Thanks for having me again. It’s an absolute pleasure. However yeah, I’m coming into this episode as any individual who’s a large fan of AI and I’m excited to share a couple of issues. However by way of a rebuttal, I might say that is that primary, with regards to individuals stopping utilizing their brains, we’re programmed as people to solely make specific amount of choices a day. And I’ve been doing every part in my day-to-day to attempt to lower down on what number of choices I should be making. And if we will have a instrument that may assist us with mentioned choices, whether or not it’s, what are you going to order in your groceries, what are you going to observe tonight? Or if it’s one thing extra enterprise associated by way of organizing your to-do record, et cetera, I’m all for that.
And I truly suppose that it’s not going to cease us as people wanting to speak to different people. If something, I really feel like what’s going to occur with all of that is it’s going to encourage and assist us relate extra to extra individuals, meet extra individuals, do extra issues and turn out to be higher due to it. And I’ll finish with this, is that the cream all the time rises to the highest. I believe this instrument and AI goes to eradicate 90% of Fiverr. It’s going to eradicate 90% of Upwork, however there’s lots of crap on Upwork. There’s lots of people who’re crap at what they do, however the cream will all the time rise to the highest.
So what is going to occur is the most effective individuals of their discipline will rise to the highest they usually’ll be those who can command more cash, they’ll get extra gigs, and that’ll be the offset of this. I believe that there’s nothing however positives to return from it, however I do agree with David on one factor is that we will’t simply come to a world of copy and paste. We will’t simply blindly go down this street. AI will get us 80% of the best way there and we have now to make use of 20% of our personal instinct, creativity, mind supply to get us to the complete 100%. So I’m excited to dig into a couple of issues at the moment.

Rob:
Yeah, I imply at the moment we’re going to speak about precise instruments on the market that may allow you to together with your actual property enterprise, and we’re going to get into issues like relationship administration, design, transforming, operations. There are additionally a ton of instruments on the market that we gained’t cowl at the moment. So if there’s a specific a part of the deal move you’re fighting, whether or not it’s deal evaluation or comping generally, et cetera, we’ll record a few of these instruments within the present notes for you. Or you possibly can simply ask Mark Simpson what he would use as a result of he’s the AI skilled right here.
After which only a fast aspect observe right here, BP doesn’t formally endorse any of those merchandise. These are all simply anecdotal issues that we have now used up to now that we like, and there’s an enormous panorama, a whole lot of various instruments on the market. We’re simply speaking about a few of the ones that we’ve come throughout in our journeys. So let’s get into it. Let’s get into it. Let’s begin with Mark, you’re first up, and principally we wish to know what’s your favourite AI instrument that you simply’re utilizing proper now to optimize to make your online business extra environment friendly, run extra easily?

Mark:
So my instrument is Tavus, and I’ll must spell it for you as a result of my British accent. So it’s T-A-V-U-S.io. And Tavus is a advertising lead gen gross sales instrument that everyone can go forward and use proper now. The principle manner that I exploit it within the enterprise is I file a video proper now to the digicam and it takes me 10 minutes to file that video. That 10 minute video, I can then ship out to 2000 individuals, 10,000 individuals in actually one minute. And the best way that it really works is that as I’m speaking into the digicam, AI is taking a look at my facial expressions, it’s following my mouth, it’s taking a look at my actions. And what I do on the opposite finish is as soon as I’ve completed that video, I’ll add an inventory of contacts that I wish to attain out to. And all I’ve to do is insert tags.
Identical to once you’re sending an e mail to any individual, if you happen to’re going to do an enormous blast in your CRM, you’ll substitute first identify. And for instance, say I’m going to ship a message to Rob and to David, I simply must do in a single video that video pitch and it’ll be two minutes, three minutes, and I may speak about something. For Boostly clearly I’m selling what we do right here at Boostly with regards to direct bookings, however if you happen to’ve bought your actual property hat on and say you wish to get in entrance of a load of realtors, property brokers, et cetera, you should utilize it for that. And so that you file one video, it’ll take 10 minutes to study you. That video is a most of two minutes of your time, and I can then bless that out to 1000’s upon 1000’s of individuals with no additional effort on my finish.

Rob:
And what’s the time that it took to combine? What was the educational curve for utilizing this instrument?

Mark:
Studying time, the principle factor that I needed to study personally was methods to converse right into a digicam and browse a script as a result of I didn’t know the any factor.

Rob:
Tougher than it appears.

Mark:
Tougher than it appears. It’s not a one-stop store, however as quickly as you’ve figured that out, the instrument does every part for you. So so far as what I needed to implement, I simply needed to create the script, file the video, ship it off to Tavus. They did all their issues after which I simply needed to combine the hyperlink that they gave me into my CRM. So for instance, I exploit ActiveCampaign for sending out emails. I exploit shut.com to ship out SMSs. I simply needed to take that hyperlink and put it in and it took me perhaps a few days to get used to. So all in all, let’s simply say every week to get all of it circled, however now it’s all automated, so it’s all within the enterprise.

Rob:
And what have been the outcomes from utilizing this?

Mark:
So we pay $275 a month to make use of this service, so let’s simply name three grand over a course of a yr. And the ROI has been nicely over six figures in income coming in on the again of it from what we have been doing earlier than. Clearly the caveat is that video needs to be good. You possibly can’t simply be spouting out nonsense for 2 minutes, it’s bought to be video, nicely put collectively, et cetera. However we’ve been in a position to fantastic tune it, create it, and it has been producing some actually good outcomes from us personally. And I can see not simply how I exploit it with my Boostly hat on, however I can see how a number may use it, whether or not it’s SDR, MTR technique, even actual property buyers, et cetera, going for some massive offers, et cetera. So it’s very, very highly effective instrument and I encourage all people to test it out.

Rob:
And would you say that this instrument is extra for a beginner, for somebody that’s sort of an intermediate proper within the throes of their enterprise or the superior I assume technologically savvy investor?

Mark:
I might say a beginner. Anyone can use this. It’s extra funds. Can you place collectively $300 a month to make use of this? In the event you can’t stretch that far then clearly it’s not for you, attempt one thing else, you’d must eat glass for a short while and do it manually your self. However as quickly as you’ve bought that additional income in your online business, doesn’t matter what degree you’re feeling that you’re at technically or mindset clever, you possibly can simply do that. All you must do is have a digicam. You possibly can even have your webcam if you’d like, and simply file a video and simply speak. So long as you possibly can speak, you are able to do this instrument.

Rob:
All proper, so do you see a use case in your online business for this? It seems like sure. However is there any cause why you’d nonetheless have a human do that work? Even when let’s say you don’t wish to do it anymore, you’re working the corporate, would it not ever make sense to only rent somebody to sort of run with this side of the assist, the legion and every part like that?

Mark:
Nicely, for me, we’ve bought 44 members of workers at Boostly and I might by no means put any individual on this activity, significantly as a result of I’m all for using AI to liberate their time. And there’s rather more vital duties I personally really feel like my group could be doing than doing this. As a result of once more, in the event that they’re going to file a video each single time any individual comes by means of to Boostly, they’ll be full up all day they usually’ll get bored doing it. Until they’ll come to me and say, “Mark, I don’t wish to file this video for the a thousandth time, will you cease doing it?” So for me, I might by no means put a human onto this activity. I’d a lot slightly be doing one thing extra proactive with their time. So I’d a lot slightly have an AI do that instrument.

Rob:
I believe there’s lots of fascinating use circumstances right here. I see it from the standpoint of let’s say an actual property meetup. If I throw an actual property meetup and I am going by means of the difficulty of making let’s say an Eventbrite and capturing all of the emails of the people who register to go to my meetup, I may in concept create a video that will get despatched out to every individual through textual content or through e mail that’s, “Hey Mark, it was so nice assembly and connecting with you on the meetup. Don’t neglect, I’m in search of a lead on this purchase field for this sort of funding. Please preserve me in thoughts anytime that you simply’re seeking to offload a deal.” Or one thing like that. And principally it permits me to succeed in, based mostly on what you’re saying, a large quantity of individuals. Now from the AI standpoint, is it principally that they’re capturing my vocal sounds and tonalities?

Mark:
So in that 10 minutes that you’re coaching the instrument, you’re actually studying a script that they’ve supplied for me and what they’re doing in these 10 minutes is that they’re seeing how my face strikes once I speak, the accent and the phrases how I converse.

Rob:
The diction, yeah.

Mark:
The diction, all of that, and it’s taken all of that and it’s coaching all of it up. So once I file the precise script for the video for the girl video, simply the instance that you simply say there, once I go to say, for instance, as an alternative of me saying, “Hey Rob.” I’ll simply say, “Hey, first identify.” And when the video’s being put collectively on the script that we create, I insert the tags identical to you’d do on an e mail blast out, you’ll go, “Hey David, hey Rob.” And it makes that e mail look private, however as an alternative of it being an e mail, it’s actually in a video and it’s getting all of that data from the info that you simply put into that record. So principally you add an inventory, sync it together with your CRM, wherever you get the data from, nevertheless you purchase that data, you load it in and Tavus takes all of that and matches all of it collectively and spits out a top quality video.

Rob:
Okay, that’s cool. So David, you run a extremely giant actual property group. Are you satisfied, is that this a instrument that you’d probably encourage the group to make use of to create these mass movies to ship out as follow-ups to your whole consumer base?

David:
In a state of affairs like this, yeah. In actual fact, I used to do that once I would maintain open homes earlier than I used to be internet hosting the podcast, I used to be simply a mean realtor making an attempt to make a greenback out of 15 cents, and I might go maintain open homes each weekend. I’d do like three or 4 in a weekend, after which I might do precisely what Mark mentioned. I might ship a video of me saying, “Hey, it was so good assembly you on the open home. It is a reminder of what we talked about. I’ll be reaching out someplace else.” As a result of everybody’s used to only disregarding realtors, they’re annoying, however once you get a video, it’s so tempting. You simply actually wish to contact that button and also you wish to see what may be in there. I’m curious although, Mark, how is what you’re describing, how would it not play out virtually completely different than if I simply recorded a video and despatched it to any individual?

Mark:
Nicely, if you happen to’re going to do it on a singular degree, do it on a singular degree. That is to be acquired at scale, and I assume now within the ranges of your careers that you simply’ve each had, you’ve bought much more leads, et cetera, coming into your inbox on a day-to-day foundation. So that is to be acquired at scale. In the event you’ve simply bought 5 movies to ship, say you’ve completed an open home and there’s 5 individuals, simply ship 5 movies. However that is one thing which you can positively do for 100, 200, 300,000, 10,000.

David:
Yeah, I like that as a result of if it’s not changing one thing a human did, it’s not like, nicely, I don’t wish to must do work, so let me use AI, that’s often the place I get anti synthetic intelligence. Whether it is enhancing one thing that an individual would already do, that’s a special story.

Rob:
I imply, one of many issues that Alex Hormozi talked about in our latest episode with them is that one of many greatest weaknesses principally in any enterprise is the follow-up. And so actually looks like this instrument can come in useful for that. One fast query after which we’ll transfer on. Does it have any shortcomings corresponding to like is it ever like, “Hey Mark.” And it sort of sounds computery each time it’s making an attempt to learn issues like names after which goes again to the AI generated sound or is it fairly seamless?

Mark:
It’s fairly spot on. The one time it’s had its shortcoming is when any individual signed as much as get one thing from us they usually put their identify in as Seymour Butts and so the AI actually despatched him a video saying, “Hey, Seymour Butts.” It went on that one.

Rob:
Yeah. So that you talked about lead gen initially of this. What’s a side the place you can use this for lead gen? Are you able to give us some precise sensible use circumstances there?

Mark:
So by way of precise lead gen, let’s simply say for example-

Rob:
And that’s lead era, that’s quick for lead era. That principally, proper, proper, sorry, I wish to make clear for any listeners as a result of not everybody could also be on top of things on advertising lingo, though that one’s fairly simple, however that is principally the concept of making leads for your online business, proper?

Mark:
Yeah, 100%. So I’ll present you the way I used it for our enterprise after which I can provide an instance how any individual else may use it for his or her enterprise. Let’s speak like an MTR technique. So for what we did, we have been capable of finding lots of property house owners, hospitality hosts who have been located in an space of the UK, Manchester. What we did is we then went alongside and we discovered their web sites and on their web sites have been in a position to get their e mail tackle, first identify, telephone quantity. What we then did is we principally put that right into a Google Sheet, we uploaded it to Tavus. I created one among my tremendous fast one minute movies.
It was simply principally saying, “Hey Rob, hope you’re doing nicely, simply to let you recognize that we’re a enterprise right here that’s serving to direct bookings.” Yada yada, yada. One minute, despatched it out, we despatched it to that record, and on the again of that, I believe we discovered about 100 that we have been in a position to scrape collectively. On the again of that, we had 10 individuals get again in contact with us they usually then booked a name and went from there. So by way of lead gen, as an alternative of me simply getting these bits collectively, blasting out an inventory, we’re in a position to make use of it to then made our outreach much more stronger.

Rob:
In order that’s fairly fascinating. So David, I’m wondering if that might work within the off market aspect of issues. If you’re sending textual content messages out to house owners of distressed properties saying like, “Hey Mark, I see that you simply personal 111 Predominant Road and I wished to only see, are you interested by promoting this property? Me and my group purchase properties money.” Or one thing like that. You could possibly then successfully pull lists from, I assume, I don’t know, privy batch leads, wherever you possibly can skip hint and successfully blast out to individuals. In the event you’re in search of an off-market deal, is {that a} use case that, I don’t know would make sense, David, you suppose?

David:
Since we began recording this podcast roughly 22 minutes in the past, I’ve obtained three textual content messages such as you simply mentioned, asking me if I wish to promote one among my properties, which is annoying AF as the children would say. So I don’t know if I’m an enormous fan of the blast, the textual content to all people factor. I see the way it’s efficient and a few individuals it’s working, in any other case individuals wouldn’t do it, nevertheless it’s additionally a bit intrusive, somebody’s telephone is sacred in a manner. Normally you give your quantity out to any individual and say, “Hey, you’re allowed to contact me.” So I get sort of bizarre once you get into intruding into that world. However in case you have an inventory of people who have already mentioned, “Hey, I’m occupied with studying from you Rob constructed.” Or, “I’m occupied with studying from you, Mr. Boostly.” Or, “David Inexperienced 24.” I believe that that’s a fantastic thought. This makes it simpler to speak with the database of individuals, sort of your pool that you simply’ve already put collectively.

Rob:
No, that’s very true. I imply, I don’t actually mass market in that capability, nevertheless it does appear, I do marvel if it could be much less annoying if you happen to bought a video. As a substitute of getting a textual content that’s, “Hey, David Inexperienced, I’ll purchase your home money.” If it was a video from somebody then it makes them extra human, however I imply both manner, that methodology, I can completely see why it’s annoying. Perhaps individuals can use it to create movies and ship you on Instagram and ask you to edit your podcast down for TikTok.

David:
Wouldn’t it’s humorous in the event that they use the AI to message me on Instagram to ask me if they’ll edit movies, which they may then be utilizing AI to do, which is zero time for them. That proper there, Rob, is why I’ve my bias in direction of AI. It’s all these 21 yr olds messaging me that they’ll edit my quick 4 movies, however they’re utilizing AI to do it in order that they’re not working.

Rob:
Hey David, I’ve a few concepts for methods to go viral. Are you open to a chat? Would you be completely towards chatting?

David:
Are you open to a dialog about how we may add seven figures to your online business with no work in your finish in any respect?

Rob:
Your corporation each month. Yeah, oh yeah, that’s 2023 for you on Instagram. Nicely, earlier than we transfer on, Mark, is there anything that you simply’ve utilized in your organization that will get an honorable point out right here?

Mark:
We’ve used another instrument, and it is a instrument that we truly created inside Boostly. In order we have been placing collectively nicksleeps.com, we, which is clearly Rob’s enterprise, we wanted to get collectively all the property data and an enormous time suck in our enterprise was getting the property data from say an Airbnb itemizing and taking it over to our world, which is the Boostly WordPress web site. And what we did is one factor that ChatGPT and this AI is improbable for is creating code, perfecting code.
And we labored with a programmer who utilized AI to place collectively a instrument and we referred to as it the Boostly Scraper, the place we may scrape all the data that was in your Airbnb itemizing, which was your pitches, availability, wording, all that cool stuff, and we may drag it in with a click on of a button to our Boostly web site. All in all, this saved 12 hours of time manually doing it and we may do it in an area of a few minutes as soon as we’ve created the precise instrument.

Rob:
Yeah, yeah, that’s good. I used to be shocked. I used to be like, “Wow, that is all my data. How did he get it so quick? Did they simply copy and paste every part? That should’ve taken hours.”

Mark:
It was all completed within the case of a minute. And so now we’ve rolled it out to all of our websites and this instrument now is known as the Boostly Scraper and it’s constructed into each single one which we do. So I believe this instrument is obtainable for all, and the cool factor is you don’t should be a grasp programmer to have the ability to use this instrument. We’re in a position to create code simply by asking it to do issues. And it doesn’t matter whether or not you’re utilizing ChatGPT or Bard, which is the Google model or Claude, which is a brand new one which’s popping out. All of them allow you to get there. And that is the factor for me is that it helps you get to the place you’ll want to be. It’s like having the most effective intern on the planet obtainable 24/7, doesn’t sleep, doesn’t complain. And we’ve been in a position to take that into Boostly and with what we’re doing.

Rob:
Yeah, that’s tremendous fascinating. Nicely, superior. Yeah, thanks for all of your work on Nick Sleeps, man. Appears to be like actually nice. Excited to launch that. Let’s transfer into pitch quantity two, which goes to be me.

David:
To be frank, Rob, your accent doesn’t sound practically as cool or trusting as Mark’s. As a aspect observe, as quickly as Mark began speaking, I’m like, “If I’ve to debate him, I’m going to lose.” As a result of his accent simply sounds so reliable. Every part sounds smarter when it’s coming from a Brit. So slightly than ask you every query, I’m going to have you ever pitch me on the way you see AI enjoying a job in your online business.

Rob:
Certain. So there’s a few areas that I believe I’m beginning to put it to use an increasing number of in my enterprise, however proper now the world that I’m making an attempt to cowl at a bit extra of a faster price is design. And I’m not making an attempt to outsource it utterly, I’m simply making an attempt to make use of it to get concepts to generate my creativity, however I’m not utterly counting on AI. However on the finish of the day, with the quantity of flips that we’re doing with the quantity of remodels, with the quantity of Airbnbs that we’re organising, fast design is absolutely wanted in order that we will begin simply working with our concepts.
So the instrument that I’ve come throughout is one which I name, nicely, I don’t name it, so the instrument that I’ve come throughout is known as REImagine House. I believe it’s reimaginehome.ai, and there’s additionally one other one referred to as Reworked AI. They each do very comparable factor. And successfully what you are able to do with REImagine House is you possibly can truly add a photograph of the outside of your property or the yard of your property and you may give it parameters of what you’re seeking to do. So if you wish to re-landscape the entrance yard as a result of it’s all useless sod, that is one thing that’s taking place proper now with one among my flips, I don’t actually, I’m not a landscaper. This isn’t one thing I’m good at designing. I’m in a position to do it, nevertheless it’s simply not my energy.
So I can add this photograph and principally give it parameters like I need a native panorama, I need 20% sod, I need concrete pavers, I need black gravel. And you’ll give it a few of these guardrails and it’ll principally spit out inside seconds a whole, I assume, AI generated photograph of a model new entrance yard superimposed on the photograph that you simply uploaded. And it’s truly fairly cool as a result of if you happen to’re making an attempt to get a quote from a landscaper, as you recognize once you’re speaking to contractors, lots of issues could be misplaced once you’re making an attempt to explain an idea with none visuals. So what I like about that is it permits me to get an thought on paper that I can then hand to a landscaper and say, “Hey, are you able to give me a quote on precisely what you see right here.” Versus, “Are you able to give me a quote on precisely what you suppose I’m asking you to get me a quote on?”
So it cuts out lots of the forwards and backwards, nevertheless it additionally does this for interiors too. That is what I actually like about it. If you wish to perceive what your area may probably seem like, you possibly can add a photograph of a front room, you possibly can add a photograph of a sport room of a bed room, and you too can put the completely different kinds. Would you like a Bohemian stylish fashion? Would you like a mid-century fashionable fashion? Principally click on a button and it’ll utterly furnish it with that fashion of furnishings. And there’s even some design issues that you are able to do with the precise structural parts as nicely. So once more, I’m not utilizing it precisely to furnish my locations, however it’s a actually good solution to get actually fast comps of what your property will have a look at as a way to begin saying, “Hey, I don’t like that. Let’s swap it out for this.”

David:
And talk clearly with another person who’s going to be, “That is what I need it to seem like, go.”

Rob:
Yeah, I can principally hand that to a designer and say, “Hey, I actually like this temper board. I’m not making an attempt to switch you with AI. Simply attempt to convey one thing to the desk. Are you able to make a greater model of this?” As a result of in the end it’s not like that designer can go and purchase that furnishings as a result of it’s all AI generated, in order that they must go and make choices based mostly on the temper board that I give them. So truthfully, the time that it took to combine, 5 minutes.
And the cool factor is once you generate that picture, if you happen to don’t prefer it, you simply hit subsequent and it’ll generate one other one and one other one and one other one. And it’s limitless alternatives and also you simply must be good at prompting it and making your standards extra particular. Studying curve, I don’t know. I believe if you happen to fiddle with it for half-hour, you’ll just about be nearly as good as you could be at that program or that platform. And from a outcomes standpoint, I’m simply glad I don’t must sketch actually unhealthy stick figures on paper anymore. I can simply truly hand one thing that truly appears professionally designed.

Mark:
I believe you mentioned one thing actually vital, I believe for everyone to remove from this, it’s the standard of the immediate, which is the standard of the command that you’re asking mentioned robotic to do. That’s so key. The issue is that majority of people who check this expertise for the primary time, they put in a immediate or a query or a command that’s one sentence, which is crap, it’s nothing. It’s think about having a employee in entrance of you, a member of your workers and also you say, “Design me this based mostly on this.” They usually’ll have a look at you want, okay, they usually’ll come again with a stick determine like what you’re speaking about. However if you happen to can correctly give it a extremely cool command with loads of element, don’t neglect to say please and thanks, as a result of after they ultimately do take over the world, they’ll come again to you.

Rob:
You need them to recollect you.

Mark:
Yeah, we’ll bear in mind you. After which the higher the command, the higher the immediate, the higher what you get again. And that’s actually, actually, actually essential in every part that you’re going to go away and do after watching this episode.

Rob:
For positive, man, I did a YouTube video on how I exploit Chat GPT to jot down my Airbnb itemizing copy, and I exploit it to jot down my copy, I exploit it to jot down my title, nevertheless it was superfast. It could possibly spit it out in seconds, however I spent a stable hour tinkering round, say this, make it extra informal, make it funnier, punch it up. It’s such a course of with AI. I believe that’s the large talent proper now is not only utilizing AI to switch your self, nevertheless it’s how nicely are you able to immediate it to principally do what you’d do if you happen to had the power to do it as quick as AI may do. Does that make sense?

David:
Yeah, it’s humorous since you’re describing that if you wish to use AI, you truly must construct the talent in utilizing AI, which is what everybody is happy, oh, AI goes to do issues so I don’t must be expert at utilizing it, nevertheless it may be even worse. It may be, no, the individuals which are good at utilizing AI are going to destroy all of the individuals that aren’t good at utilizing it.

Rob:
Just about. That’s sort of how I really feel. Not fairly as dramatic but, however I do suppose successfully we’re all going to be puppet masters of AI. That’s the place I believe it turns into a factor in the true property world is we’re not changing ourselves, we’re simply puppeteers, if you’ll, of all these completely different AI issues that make our enterprise extra environment friendly. That’s how I really feel.

Mark:
Seems like an Avengers film.

David:
It does sound loads like Ultron truly.

Mark:
Yeah, Ultron, yeah, That’s me.

David:
If James Spader did the voice of ChatGPT, individuals would freak out. All proper, earlier than we transfer on, Rob, inform me briefly who is that this for?

Rob:
Nicely, remember that individuals who wish to design are all the time going to design. So we’re not making an attempt to switch the designers, however I might say, I’m not going to say the bulk, however there’s a big a part of actual property buyers that know nothing about design, know nothing about panorama design, know nothing about transforming the design portion of reworking a house. And so this instrument is for them, and I believe it’s whether or not you’re a beginner or an intermediate or superior, it may be helpful for you. However this actually, for lots of people which are scared to get into rehabbing as a result of they don’t know methods to design or there are lots of people which are scared to get into short-term leases as a result of they’re like, “I don’t know methods to design.” This instrument is one thing that may allow you to try this as a way to no less than talk with somebody that may truly execute on that aspect of issues.
I believe a complicated individual, I think about myself somebody on that finish of the spectrum, I’m nonetheless utilizing it as a result of as an alternative of me sketching a horrible drawing that I do know is that good, I can provide it to a contractor and have them quote precisely what they see. And I wouldn’t actually say that there’s any shortcomings or surprises of the instrument apart from it could possibly spit out some fairly luxurious premium simulations, if you’ll. And so lots of instances I’ll be placing stuff in there, I’m like, “Oh, that’s manner too good for the funds that I’ve.”

David:
I didn’t know you can say these phrases.

Rob:
Yeah, nicely, you bought to be scrappy on occasion. However yeah, I’d like to listen to from the skeptic himself about some concepts on methods to use AI for actual property. David Inexperienced, David Timothy Inexperienced, I’m simply kidding. I don’t know what your nickname is or your center identify, however all proper. Do you’ve gotten a enterprise space which you can cowl by way of a use case the place you can see AI serving to?

David:
Why was Timothy so humorous? I believe I used to be watching an episode of the Workplace the place they referred to as Jim Jimothy, which was so silly however humorous on the similar time. That may be what’s in my head.

Rob:
Technical Timothy as one would say.

David:
Perhaps that’s the place my center identify comes from. All proper, so the query was how do I see AI figuring out in operations? That is one thing that I believe can be very helpful and I’m not as disparaging of it inside the context of follow-up for operations. I don’t like it in gross sales. I don’t love AI changing me speaking to a human and fixing their issues. I don’t wish to name and ask somebody a query and get placed on a telephone tree. I don’t wish to chat with a robotic once I may have a human being there. I don’t thoughts as a lot if AI is doing the work that the consumer by no means truly sees, organizing schedules.
I may see logistically talking motels may use AI. So when any individual calls in sick, AI routinely figures out like let’s ship a textual content message out to the staff, see who may work it, slot them in, have them verify one thing to say, “Sure, I’m agreeing to work and now you don’t want administration to do it.” I believe that may very well be good. So I’d wish to see this happen inside CRMs. These are the database managers. I consider it stands for buyer relationship supervisor that almost all companies use to prepare their exercise. So this might be for my actual property enterprise, all of the people who I’ve ever closed the home with, all of the people who I’ve met at an open home, I acquire their data, it goes right into a database after which I can attain out to them. I may very well be reminded to speak to them. I may retailer details about the final time we spoke.
And once I put them into contract on a house, we have now what we name auto plans. We use a CRM referred to as Brivity and that reminds the agent or the transaction coordinator or the exhibiting assistant or whoever it’s that should know the duty, hey, you’ll want to do one thing. So I’ll create, after we take an inventory, if Rob involves me and says, “Hey David, are you able to assist me promote this big potato home that I purchased in Idaho? It’s completed very well as an Airbnb, nevertheless it’s time for me to maneuver it on to any individual else and we’re going to promote that home for him.” I don’t wish to have to inform an worker daily precisely what to do and I don’t wish to belief that worker to recollect what they’re imagined to do.
So I create an inventory of each single factor that goes into promoting a home like there’s 25 steps to get the home prepared for market. There’s 20 steps as soon as we put it within the MLS, after which there’s perhaps 30 steps as soon as the home closes that we don’t neglect something by. Nicely, not all these steps are completed by the identical individual. So the CRM will routinely shoot out to every individual on the group, “Hey, of those 20 steps, these 4 are yours.” And when this individual does their job they usually click on it completed, then the subsequent individual will get a reminder that claims, “Hey, it is best to do that.” I can see AI moving into that world and enhancing that have in order that your workers can’t screw it up.
AI can know, nicely often at this level when this factor will get completed, any individual ought to have completed this by now they usually can ship a reminder that claims, “Hey, did you do that and neglect to verify the field.” Or, “Hey, simply so you recognize, it is best to in all probability look into this as a result of based mostly on how your whole different escrows are going, this one appears like an outlier.” I additionally suppose that AI will likely be helpful for telling me once I ought to attain out to the consumer as a result of I believe the consumer nonetheless desires the non-public contact. They nonetheless need their agent speaking to them, not a robotic, however the robotic can inform the agent, “Hey, this individual purchased a home 4 years in the past. Primarily based on what we see in his estimate, their home has in all probability gone up 35% in 4 years. It’s best to attain out and see in the event that they’re prepared to purchase a much bigger home or in the event that they wish to downgrade or charges have gone down, it is best to attain out and speak about a refinance.”
Proper now, that’s all in my head and it’s scary to be in my head as a result of all of the stuff that’s occurring in there, it’d be good if I may get that into AI’s mind and it may simply inform one among us, it is best to contact this individual for these functions. So I’m excited to see how that goes down. I’m nervous as a result of I don’t suppose that’s what anybody’s fascinated about after they’re enjoying with ChatGPT, they’re not fascinated about operations, they’re fascinated about gross sales.

Rob:
What do you suppose, Mark? Are there any instruments that may mirror a few of the stuff that he’d be in search of?

Mark:
Not but. However there are methods which you can implement what you’re speaking about from ChatGPT from OpenAI into this. And there are lots of corporations proper now which are serving to with operations. For instance, we use GetCody, so GetCody AI. And what that’s doing is that’s constructing a Boostly bot. So every part that you simply talked about there the place it’s reminding our workers X, Y, and Z, we have now that very low finish. And what’s actually vital is we’re recording this in 2023, proper now we’re on the first iPhone stage of this expertise.
In the event you have a look at the primary iPhone to iPhone what 15, no matter’s popping out subsequent, it’s up to now. We’ve leaped up to now in the way forward for what we will do with these little gadgets. And we’re at iPhone one stage proper now and the loopy factor for me is in lower than a yr, we have now massively bought loads higher with this expertise and a lot so governments are stopping ChatGPT 5 which is the subsequent stage of this from popping out but as a result of they should type of pause and let’s go, “Okay, what are we doing with this?” However there are superb instruments which are obtainable proper now at a a lot decrease finish.

Rob:
Okay, so successfully it’s a instrument, it’s a database the place you place in your whole completely different company, you place in all the details about that visitor final level of communication notes. And so successfully what you’re saying is a use case ultimately will likely be merging ChatGPT or AI with that CRM to create, I don’t know, AI generated e mail and follow-up sequences that’s personalised to them particularly based mostly on the notes about that individual in order that everytime you re-market to them, it truly feels such as you’re chatting with them and never simply sending out a message to 50,000 individuals.

Mark:
Yeah, precisely. And say a message is available in and say you get an e mail and say, “Hey Rob, actually want to come again and stick with you.” When that message comes into you and your group and it’s simply, improbable, who is that this individual? I bear in mind once I was in our household enterprise, we’d have individuals message us or ship us an e mail they usually got here to stick with us 5 years in the past and my mother and my dad and I are like, “Who is that this individual?” We’re making an attempt to go and we have now the usual e mail that goes about saying, “Hey, yeah, I hope you’re nicely.” Yada, yada yada.
We didn’t have a clue who they have been, however with this instrument and this expertise, they’ll go, “Yeah, that is X. They stayed with you these dates, they really got here again and stayed with you a yr later. They’ve bought husband and spouse, two youngsters, they got here from Texas.” Wherever it could be, the data that they can provide you. So then you possibly can act and go, “Oh yeah, completely, improbable to listen to from you. We’d like to welcome you again.” And all of these type of issues. So it’ll assist personalize your communication, your outreach, et cetera. And this could go to you, it could possibly go to your group, it could possibly go to gross sales, it could possibly go to any division, however that is the place AI will likely be in a position that can assist you set up and make your online business run rather more environment friendly however rather more personalised. I believe personalization is the important thing message to take from all of this.

David:
I bought one final query right here. I wish to play satan’s advocate on one different factor. If this turns into one thing that turns into customary within the trade and everybody begins utilizing this, and anytime I am going keep at an Airbnb, let’s say I keep at eight of them all year long and all eight persons are sending me all of those self same textual content messages, how do you keep away from somebody simply turning into saturated and blocking and saying, “I don’t wish to hear from this.”

Mark:
So when all people’s zigs you zag, and so when the world does turn out to be a duplicate and paste, all people’s doing SMS, all people’s doing e mail, I believe it’s going to turn out to be a working example in time the place each single digital message you obtain on-line, the individual goes to suppose, is that this a robotic sending me this or it’s a human? So what are we going to do? Primary, we return to the old fashioned, write a letter, decide up the telephone and have a dialog with any individual. Do the issues at the old fashioned advertising, that’ll be the brand new college. So as an alternative of sending an SMS, you’ll hand write a letter, pop somewhat one thing within the publish and ship it to the individual. I really feel like this’ll be the place we come to some extent in time the place all of it comes swings and roundabouts. Every part comes again round and when all people’s simply counting on automation, what are you able to zag as an alternative of the place all people’s zigging?

David:
Isn’t that humorous? It’ll be like, bear in mind the hipsters for some time have been making it cool to make use of a stroll man, a cassette tape recorder or one thing. Or they’re like, “I wish to sew my very own garments.” In a future the place AI is taken over, the cool individual’s going to be the one who hand writes letters as a result of they’re one of many few individuals on the planet that remembers methods to use cursive.

Mark:
Precisely.

Rob:
Persons are going to be shocked each time they reply the telephone and it’s an actual individual. I believe in the end, if there’s one factor to remove is that AI is right here to amplify your capabilities. Whether or not you’re a small investor, intermediate, superior, it’s not right here to switch you. It’s right here to be an additional set of arms that can assist you be extra environment friendly. It’s right here that can assist you create ideas and renders in a short time. It’s principally right here that can assist you observe up and be an precise digital assistant if you’ll, like a literal digital assistant that’s all residing on the web. So there’s lots of use circumstances there, however in the end, if there’s one factor you possibly can take away, it’s not going to switch us. It would make us higher if we’re prepared to make use of it. That’s my stance. What about you David?

David:
I believe it’s going to occur. I believe it’s in all probability going to be messy as we first learn to do it. I believe persons are going to hurry into it pondering, oh, I don’t must do stuff anymore. Take their arms off the wheel manner too early and also you’re going to have a bunch of backlash towards it as a result of it’s, “Oh, I don’t have to do that anymore.” Let AI deal with it and also you’re going to have lots of irritated individuals. There’s be a backlash towards AI and I believe ultimately we’ll settle into what human beings are okay with after which it is going to turn out to be the norm after which we are going to slowly simply give an increasing number of energy over as a result of that lure of comfort is all the time so, so highly effective and the world will transfer right into a manner the place, I don’t know, we’re going somewhat bit too far with that, however sure, I believe AI goes to occur sooner or later, however the wisest individuals would be the ones that don’t substitute themselves with AI, they improve themselves.
So the analogy that I give in scale is expertise ought to operate like Tony Stark swimsuit of armor within the Avengers. It doesn’t substitute him. He doesn’t create a swimsuit of armor to go do the job for him. It enhances what he does. His mind nonetheless has to provide you with the concepts for the lasers. He can’t shoot a laser as a human, however with the swimsuit of armor, he can. He can take harm in a swimsuit of armor he usually couldn’t take if he didn’t have it, he’d by no means be capable to go compete with a Thanos or one thing if he was simply common Tony Stark. AI needs to be utilized in that comparable manner. Your creativity, your online business abilities, your savvy, enhanced by expertise offers you a bonus over different individuals, however making an attempt to switch your self with these issues will simply assure you’re going to lose.

Rob:
Yeah, nicely, on that observe, David, whereas we’re right here, since we’re wrapping up, I truly went into ChatGPT and I mentioned, are you able to write an analogy within the fashion of BiggerPockets, David Inexperienced? And it got here up with one thing fairly good. It mentioned, actual property investing is like gardening. You begin with the seed, which is your property, you nurture it with care identical to you’d water and have a tendency to your vegetation. Over time, it grows and thrives and you may benefit from the fruits of your labor, whether or not it’s rental earnings or property appreciation. Identical to in gardening endurance and a spotlight to element in actual property can result in a bountiful harvest. Growth.

David:
I don’t know if I really like that, man. What do you suppose, Mark? On a scale of 1 to 10, how good was that analogy?

Mark:
I’m a stable eight on that. I believe that’s fairly superb.

Rob:
I hoped you’d give me a Brazilian juujitsu one, however I assume that’ll be for the follow-up podcast.

David:
However with gardening, I don’t know I’ve ever talked about gardening earlier than, however hey, not unhealthy. It simply means I bought to step on my sport so ChatGPT can’t be higher at being me than me.

Rob:
Precisely, precisely. Nicely Mark, if individuals wish to study extra about you, discover you on the web, the place can individuals attain out, join with you?

Mark:
Yeah, 100%. Nicely, you possibly can see me in individual on the upcoming BiggerPockets convention. I’m flying over to Orlando, which I’m excited to do. I’m going to be speaking on about direct bookings, so come and verify me on the market. I’ve truly put collectively speaking about prompts so prompts are actually vital. I’ve put collectively 100 high quality prompts that you should utilize on ChatGPT, et cetera. If you’d like a duplicate of that, simply ship me an e mail [email protected], B-O-O-S-T-L-Y.co.uk and I’ll get that over to you. And if you wish to get a type of Tavus movies that I used to be speaking about, simply head over to boostly.co uk and observe the hyperlinks on there.

Rob:
You will have opened the flood gates in your e mail, my buddy. What about you, David?

David:
You’ll find me at davidgreene24.com to see what I bought occurring or all social media @davidgreene24. Thanks for asking, Rob. The place can individuals discover out about you?

Rob:
You’ll find me on YouTube and Instagram at Robuilt, R-O-B-U-I-L-T.

David:
Thanks, Mark. We’ve recognize your time right here at the moment. I do know you’re British. It is a Scottish accent, however I’m positive that is somebody you’re conversant in.

Mark:
It provides me flashbacks to the final episode.

David:
That is David Greene for Rob, child V Abasolo. Rob, in a duplicate and paste world, you’re nonetheless the child V that I wish to copy. Have one, guys.