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Are you Ready to Use chatGPT in Your CRE Business?

Technology & Innovation

If you haven’t yet heard, there is an Artificial Intelligence (AI) tool that has been taking the internet by storm called chatGPT. It has been used for helping individuals, organizations, and businesses write a large variety of written works. I recently started experimenting with it to see what all the hype was about.   

After visits to various websites offering access to Open AI tools and sampling their systems, I decided to use chatGPT AI to write a SIOR Pulse Blog Post about using chatGPT to write blog posts for SIOR. Below you can find my process and the results, only slightly modified for layout purposes.

The chatGPT Open AI website tool I used was found on, which was easy to use as it is like most Search Engine interfaces.

After a couple of iterations in the website writing tool, I prompted:

“I need help writing a commercial real estate-oriented blog by using chatGPT. This blog should explain thoroughly what chatGPT is, how it can assist writing, and where the AI derives its information. It should discuss the viral popularity of chatGPT and the areas it is being used. This blog should show AI websites the blogger can use as tools, areas of concern, including plagiarism, and how to verify the information provided. The audience of this blog post are professional commercial real estate practitioners that are members of the Society of Industrial and Office Realtors (SIOR). The membership is comprised of experts in all aspects of Commercial Real Estate who are ethically bound to very high standards of practice.”

This is what chatGPT returned:

As a professional commercial real estate practitioner, you know that staying ahead of the competition requires the use of cutting-edge technology. Artificial Intelligence (AI) has become increasingly popular in recent years and is being used across many industries to help automate tedious tasks and improve efficiency. One such AI tool is chatGPT, which can be an invaluable asset for writing blog posts related to your field.

What is chatGPT?

ChatGPT stands for “chat Generative Pre-trained Transformer” and it uses advanced natural language processing algorithms to generate content quickly from inputted data or prompts. It works by utilizing large datasets, such as Wikipedia articles or news stories, as its source material so that it can accurately create sentences based on what you type into its system - like how Google searches work with keywords. This makes it much easier than having to manually research topics yourself before crafting a post; all you need are a few key points about what your topic should cover and chatGPT will do the rest. This AI-powered platform helps professionals write faster and more accurately by providing them with instant access to reliable information from around the web.

Why is chatGPT popular with business?

The viral popularity of chatGPT has been growing exponentially over the past year due in part because businesses have found ways they can utilize this powerful tool within their own operations - from automating customer service conversations with virtual agents powered by AI technologies using Machine Learning models & predictive analytics tools, to more traditional companies leveraging these same capabilities when producing written documents such as:

  • Blogs
  • Brainstorming
  • Employee Reviews
  • Marketing Pieces
  • Producing White Papers
  • Advertorial Content
  • Business Letters
  • Website Content
  • Emails
  • Trade Publications

Do your homework and protect your reputation.

There are also some areas where caution must be taken when relying solely upon automated results. Plagiarism, lack of accuracy/verification, biases towards certain topics etc. are just some examples where care needs taking when working from information provided through machine learning sources. To ensure quality control measures remain intact, always verify facts presented via checking multiple sources before publishing. Using tools such as Copyscape, which will evaluate any copied content within your text against other sources online, ensuring no material has been taken without permission or attribution. Additionally, it is suggested that you run a check through Grammarly, which will scan your document thoroughly, checking for grammar and spelling errors, helping to make sure nothing egregious slips through unnoticed that could potentially damage your reputation amongst your colleagues and/or clients.
As members of SIOR, you have committed yourselves to be professionally bound by very high ethical standards making trustworthiness paramount in your professional lives, so why not let chatGPT take care of those tedious pieces, freeing up time and allowing you to focus solely on what matters most… Your clients and your business success.

My conclusions.

The list of chatGPT uses is endless and growing, but using this powerful tool requires careful review, research, and the application of business ethics. ChatGPT can be a handy tool to guide our thoughts and research and help us as Commercial Real Estate professionals write various business texts, quickly and without going through the (usually) arduous creative process of researching, writing, and rewriting. One must, however, feed the tool well-crafted prompts. ChatGPT is part of a brand-new frontier, and I’m certain users will stub their toes in its adaptation, but as with most new tech, the only way to harness the power is to roll up one’s sleeves and get busy. 

Michael Houge, SIOR

Michael Houge, SIOR

Managing Director at NAI Legacy, a Minnesota-based firm specializing in investment sales and net lease property brokerage and acquisitions, augmented by a robust sales and leasing team that focuses on commercial real estate for users.
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