Use AI for Market Reports - The REAL AI Newsletter

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March 10, 2025

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By Kevin Hawkins with Korey Hawkins | Vol. 3 Issue 10

REAL AI is a human-created weekly roundup of all things related to artificial intelligence in real estate and emerging AI innovations in other sectors likely to impact our industry.

Use AI for your Market Reports

If you are using ChatGPT (or Claude or Perplexity) every day, you probably discovered new things AI can do that you never knew it could. If you use all these like we do every day (plus Meta and Gemini less frequently), you know each Gen AI tool has its own superpowers.

Right now, Claude excels at data interpretation and summaries. Last week, we did a side-by-side test of Claude, Gemini, and ChatGPT for a data extraction assignment.

We fed them a large PDF and asked each of them to go through the document, pull out specific data buried in an unorganized way in the document, and give us the data we needed back and organized by specific fields we provided in a file format Excel could read.

Gemini told us, basically, to take a hike. ChatGPT struggled. At first, it looked like it was working, but it only extracted 65 lines of data. The document had more than 400. ChatGPT would only work with this assignment if we broke up the large PDF and had it do the process in chunks. We would then need to piece all the data together, sort, etc.

Claude excelled at this task. We gave it the same prompt, and in less than two minutes, it gave us a file of more than 400 lines of data. We watched it write the code to do this, fail, and then rework its code three different times until it was able to produce the results we asked for. Remember, the original data was in a 40-page PDF.

If you manually do a monthly market report, know that Claude could help you construct the data you need in seconds. You can feed it the data you extract from the MLS and other documents: cut-pasted data from emails, PDFs with other data you want to use, your monthly transaction data in nearly any format, and more.

Give Claude precise prompts for the data you need. You can ask for the data back highlighted in bullet points with summaries and data interpretations, plus an overall executive summary. You can ask for it in a spreadsheet or CSV file so you can import it into Excel or Google Sheets. You can also give it a copy of your last Market Report and ask it to create an updated version in the same writing style with the data format you provide.

ChatGPT is likely to be able to create a Market Report, but it is unlikely to create it as swiftly and efficiently as Claude does right now. We say "right now" as these Gen AI tools are continually getting more intelligent, faster, and evolving. Claude may be the champ today in extensive data set interpretations for the basic paid version, but tomorrow, it could be ChatGPT, Perplexity, or something else. In our tests, Gemini is lightyears behind the others in helping with the kind of tasks real estate agents turn to AI for assistance. (-Kevin)

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ChatGPT for tax assistance

If you still do your own taxes – 45% of Americans do – or struggle each year filing your taxes as 29% of business owners do, AI can help.

First, a word of caution: We use ChatGPT Teams for privacy reasons. Open AI does not train on data from Teams. Deleted and unsaved conversations are removed within 30 days. Individual team members can only view their conversations. Even then, we never share credit card or social security numbers or other personally identifiable information with any AI tool.

You should never share confidential financial information with a free version of ChatGPT or any AI tool or version that could be made public.

That said, we used ChatGPT to ask general tax questions: it can help find the proper form and explain it, answer questions about deductions, help find additional deductions, and clarify filing deadline dates.

We also use ChatGPT Teams to help organize our taxes by taking disorganized and desperate information, which also does the math because it is excellent at it.

We gave it Google Sheets tracking our mileage and donations, we gave it the PDFs of credit card annual report summaries as well as monthly credit card statements.

We then asked ChatGPT Teams to organize and calculate totals for each of the data categories we needed to enter into TurboTax.

AI did in minutes what took us hours in prior years to accomplish.

We then uploaded additional information after it made its initial calculations as we discovered emails with missed donations. It readjusted the numbers instantly.

We use ChatGPT Teams monthly for expense tracking, extracting summaries from PDF credit card statements, cutting and pasting credit card expenses from the online view for instant organization and calculations, and other data calculations and totals. It's an absolute data whiz and so efficient and fast that we rarely use a calculator.

If you have access to an AI that ensures privacy and doesn't train on your data like ChatGPT Teams, we recommend it as a fantastic shortcut to organizing your tax data and deductions. (-Kevin)

AI Facts and Stats

1. 60% of property developers utilize AI technology to optimize construction processes and reduce costs – McKinsey

2. AI solutions account for 65% of the AI real estate market – The Business Research Company

3. 14% of real estate firms had implemented AI technologies – Statista

4. 70% of property management companies use AI for predictive maintenance and risk assessment – All About AI

5. Chatbots with AI capabilities can enhance lead generation in real estate by 33% – Precedence Research

Source: Artsmart.ai (-Korey)

AI Headlines

T-Mobile’s parent company is making an ‘AI Phone’ with Perplexity Assistant | 3/3/25 The Verge

Powered by Magneta AI, Deutsche Telekom’s phone will provide users access to a suite of AI Tools.

The Need for Safe and Responsible AI in 2025 | 2/28/25 RISMedia

Brokers need to find the right balance between enhanced productivity and responsible AI use.

Sesame AI’s New Voice Assistant: ‘Almost Human’ | 3/4/25 eWeek

This digital companion uses the most human-like voices available: check it out.

Android's AI is scanning your phone for scam activity now in two ways | 3/5/25 ZDNET

Google is providing new AI tools to detect fraud easier in messages and calls.

OpenAI reportedly plans to charge up to $20,000 a month for specialized AI ‘agents’ | 3/5/25 TechCrunch

Software development and PhD-level research are some of the different applications being developed for these advanced (and expensive!) AI agents. (-Korey)

AI Quote of the Week

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Kevin Hawkins

Editor | REAL AI

realai.blog

Kevin@wavgroup.com

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