AI-powered Property Description Generation to Boost Real Estate Sales

Photo of Kamil Rogiński

Kamil Rogiński

Updated Jun 5, 2024 • 7 min read
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JLL research shows that, by using generative AI, the real estate industry can achieve a 32% CAGR and reach $98.1 billion by 2026.

Many realtors already admit to using text-to-text AI content generators like ChatGPT. But the latest development, generative image description, can prove to be the biggest game-changer.

Is an image truly worth a thousand words? While it sounds cliche, in real estate, it truly is. Still, this doesn’t mean that you can downplay the role of property descriptions in closing sales.

Listing copy includes key information potential buyers are looking for – many scan listings for elements like the property’s square footage, location, or even heating system.

Luckily, with the rapid developments in AI content generation, you can now automate listing descriptions. The best AI for real estate lets you create copy not only based on text prompts, but also property images.

Generative image description from retail to real estate

Generative image description first started gaining ground in e-commerce. It’s particularly useful for businesses with thousands of SKUs in their product catalog. Unsurprisingly, image-to-text AI capabilities are being introduced by e-commerce giants like Shopify and Amazon.

Given how good AI tools have gotten at describing images, it was only a matter of time that they became popular in other industries, too, including real estate.

Is the real estate market ready for this innovation? It’s safe to assume that it is, given the popularity of ChatGPT among professionals in the field.

In early-2023, CNN reported that real estate agents could no longer imagine living without OpenAI’s solution.

One agent interviewed by the news outlet reported that it took them a few seconds to generate a description for a listing. All they needed to do was add the keywords.

With generative image description they could do even less, i.e., simply select the property photos from the catalog.

Top benefits of using a real estate description generator

Here’s how using AI to convert images into property descriptions is boosting productivity for companies in the real estate industry.

Improving speed and efficiency

Selling a property includes a series of steps – scheduling viewings, negotiating prices, taking property photos, etc. While all of these tasks are necessary to close a sale, not all hold the same business value, and some, like writing property listing copy, are more time-consuming than others.

On average, it takes between 30 minutes and one hour to write a single property description.

If you consider that there are dozens, if not hundreds, of properties that real estate agents deal with, it translates into a lot of work. This isn’t necessarily enjoyable for the agent.

A real estate description generator could cut that time by 75%. Instead, realtors could spend it on activities that directly contribute to revenue growth, such as client meetings or contract negotiations.

Cost savings

In the pre-generative AI era, if an agent or broker didn’t have time to write a listing description themselves, they’d have to outsource it to a freelance writer. Bear in mind that copywriters don’t usually work on success fees, i.e., receive remuneration only after the property is sold.

They commonly charge between $50 and $200 per listing copy. Depending on the number of properties on sale, this could mean an upfront cost of hundreds or thousands of dollars.

It’s easy to see why turning to real estate description generators is the most affordable solution for realtors.

Going up in search rankings

Most property searches happen online. If you Google “one bedroom apartment for sale in Geneva, Switzerland” in less than a second, you get 10,400,000 results – the competition is fierce. Your property listing not only has to be catchy but also SEO optimized to increase your chances of ranking high.

AI listing generators will suggest keywords based on the image you upload. You can review them before generating a description, and add your own if necessary. The best AI for real estate will not only improve your Google rankings and increase your visibility but also attract more organic traffic and boost the number of prospects viewing your properties.

Consistency

Many realtors have their own ‘formula’ for an effective real estate listing description, and they’d like to follow it for all properties. This can include not only ‘must-have’ elements like square footage, location, or “Free Viewing”, but also length and format.

AI generators let you standardize your property descriptions and supplement them with information that the tool wouldn’t be able to deduct from the image.

How do AI property description generators work?

AI description generators operate on the basis of GPT-4 technology and prompting. These tools integrate with your listing database. To give you a real-life example, here’s how Netguru’s real estate description generator works:

  • Add the property to your catalog. You upload the image(s) of the property, add a title, and create the listing.
  • Select the property. In the description generator, you select the property from the list. Depending on the number of photos you’ve added, you can generate a description based on one or multiple images.
  • Specify the property attributes. These can include location, square footage, and number of rooms.
  • Select the language. Our software lets you decide if you’d like to automatically translate the listing copy into other languages.
  • Check the keywords. You get a list of keyword suggestions to optimize your listing for. You can add extra ones if you feel like it.
  • Input any additional information you’d like included in the copy. Here’s where you add all the key insights that AI can’t source from images.
  • Generate description. A description appears – you can review it and apply any changes.
  • Save and update in the database. If you’re happy with the result, you can update the listing in your property catalog.

Generating property listing descriptions with AI

The benefits of using AI real estate description generators go beyond time and cost savings. Automating the process of creating property descriptions guarantees accuracy and comprehensiveness, which positively impacts the customer experience.

The software is scalable, i.e., you can use it to generate descriptions for hundreds of properties without investing in more manpower. You can redirect your attention to tasks that drive business growth and call for human involvement.

Netguru has experience in creating rapid generative AI prototypes in various industries – reach out to learn how we can support you.

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Kamil Rogiński

Client Partner at Netguru
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