While the fourth quarter is often focused on finishing the year with a strong showing in your real estate business, it’s vital to be already looking ahead to prep for the upcoming year.

As you begin working on your new year business plan, consider what worked this past year, what you can do better, and what you will use to help you along the way.

While there are many great tools for real estate agents, artificial intelligence (AI) has everyone buzzing. AI can help you better serve your customers and make the coming year your best one yet.

Let’s look closer at why you need to use AI and explore some tips for weaving it into your upcoming year’s business plan.

While there’s some concern about the potential impacts of AI, most business owners are optimistic about it.

According to surveys conducted by Forbes, 97% of business owners believe AI solutions like ChatGPT will benefit their companies in some way. Of those same business owners, 60% believe AI will improve customer relationships. An equal number of respondents think AI will help them be more productive.

Based on these statistics, there are plenty of great reasons for real estate agents to use AI. By including AI in your business plan, you can accomplish such all-important goals as:

• Saving time
• Being more productive
• Communicating better with customers
• Building stronger relationships

AI may also help you get more deals done and generate additional revenue in the coming year. The question is, what’s the best way to weave AI into your business plan? These five tips to help you do just that.

The AI market is exploding. In addition to tools like ChatGPT, there are also specialized solutions that feature AI for real estate agents. The combination of general AI tools and industry-specific software allows you to take advantage of its many notable benefits.

1. Guiding Investment Decisions

Staying up to date on market conditions and industry trends is a must for real estate agents. But you already have a jam-packed schedule — between meetings, closings, and showings, it can be tough to devote enough time to industry research.

AI services exist for real estate agents to effortlessly analyze market data, historical performance of properties, and trends. These insights can give you the edge you need to better serve your clients and get deals done.

If you also participate in the market as an investor, you can leverage the data to identify good investment opportunities. When you create specialized prompts, you’re able to gather key information about properties you’re interested in buying to find the ideal investment for your goals.

2. Saving Time on Tedious Tasks

AI can indirectly support your business efforts by helping you automate all manner of tedious tasks. For instance, you can use AI tools like ChatGPT to write listing descriptions.

When using ChatGPT to create listings, take the time to develop detailed prompts. While the platform can pull some data about the listing from the internet, you need to fill in the blanks.

Some key details to work into your prompt include the property’s address, amenities, standout features, and any other information that may not be publicly available. Be sure to use the R.E.L.I.C formula when generating your prompts: Role, Exclusions, Length, Inspiration, and Context.

3. Ask the AI Software To Write Your Plan for You

The world of AI for real estate agents is constantly changing, and new tools are constantly popping up.

As of the time of writing, there are no tools designed specifically for creating real estate business plans. That said, you can ask just about any generative AI platform to write your business plan for you. While the result may not be perfect, it can serve as both blueprint and inspiration and help you identify your goals for the new year.

As always, the quality of your prompt is crucial for generating valuable outputs. Your prompt might look something like this:

“Write a 2024 business plan for a real estate agent operating in [your location]. Include a list of goals, as well as strategies for earning more deals, improving the customer experience, and growing the business.”

Within seconds of submitting your prompt, you’ll have a detailed plan to work with.

4. Use AI To Improve Your Marketing Content

If you’ve got growth on your mind, you need to perfect your marketing strategy. Whether you typically advertise online or focus heavily on social media content, AI can help you up your game.

When creating your prompts, be specific about the tone you’re trying to capture, the area you work in, and other central considerations. For instance, if you operate in Austin and like to publish fun, lighthearted content, include these phrases in your cues for ChatGPT.

With a few well-constructed prompts, you can create an entire month’s worth of content in a matter of minutes. Imagine how much extra time you’ll have to schedule showings and meet with clients.

5. Revamp Your Website

When you have a business website, it’s vital that you keep it fresh and user-friendly. An outdated site can cost you clients and make it challenging to achieve your growth goals.

While AI tools can’t build your entire website for you (yet), they can help you provide your clients with a limitless supply of new content. Now is the perfect time to revamp your website, and AI can help you do it.

You can also ask AI for tips to improve your website. Put these tips to use and create a web experience that has customers lining up to work with your real estate firm.

AI is changing everything, including how real estate businesses serve their customers. If you want to stay ahead of the curve and make the new year your best one yet, make sure artificial intelligence has a place in your new year business plan.