HW Media is the go-to source for housing economy decision makers, delivering breaking news, reports, industry data, and rankings. Our mission is to propel the housing market forward. In today's RealTrending, we feature Rich Hopen, broker-associate of Compass and co-founder of REAL-E in New Jersey, alongside Susan Vanech, broker-associate of Compass and founder of Compass Coastal in Connecticut. Hopen, an expert in ChatGPT and artificial intelligence, has developed an AI-powered listing chatbot. Vanech successfully utilized this chatbot to market a multi-million dollar property. During the discussion, they explore the power of AI in real estate marketing, future prospects, their own adoption of AI in their businesses, and notable trends. Additionally, Hopen serves as the editor of the e-newsletter, The AI Daily Brief, where he delves into the latest AI trends and their practical applications. Read on for a sneak peek of Susan and Rich's interview, lightly edited for length and clarity: Tracey Velt: There's been quite a bit of controversy surrounding ChatGPT, with Elon Musk emphasizing the need for control before it's too late. Can you shed some light on this and the potential for AI in real estate? Rich Hopen: It's hard to avoid discussions on AI in the news. Opinions range from it being a game-changing technology for resolving major issues, to it being a dangerous force that could obliterate humanity.

However, what everyone agrees on is that AI is an incredibly advanced and powerful technology. Almost every industry is expected to undergo significant transformations due to AI. While only a small percentage of agents are embracing this technology to generate content, there are exceptional individuals like Susan who are exploring its future potential. These involve developing and implementing customized chatbots. Susan Vanech: My goal is to create content that educates the butler, surpassing what the average agent can achieve with ChatGPT. By utilizing the AI Butler, as Richard mentioned, we can enhance the level of service offered to end-users, allowing them to engage in a more personalized and human-like manner using artificial intelligence. It's about merging our inherent human qualities with the capabilities of this AI bot, effectively enabling it to communicate on our behalf. The RealTrending podcast showcases the most brilliant minds in real estate. Each week, we bring you insights from brokerage leaders, top agents, team leaders, and industry experts who share their success strategies, trends, and valuable lessons learned while navigating this ever-evolving industry. Hosted by Tracey Velt and produced by Elissa Branch. In recent news, Rocket Companies has appointed Varun Krishna, an experienced financial technology executive with a background in Intuit and PayPal, as its new CEO. Bob Walters has also announced his retirement.