The new tool comes during a year of heightened interest in artificial intelligence. It’ll help agents write listing descriptions, craft social media posts and more.
No one can predict the future of real estate, but you can prepare. Find out what to prepare for and pick up the tools you’ll need at the immersive Virtual Inman Connect online Nov. 1-2, 2023. And don’t miss Inman Connect New York on Jan. 23-25, 2024, where AI, capital and more will be center stage. Bet big on the roaring future, and join us at Connect.
In a move that should further beef up its techie bonafides, Compass this week announced the launch of a new artificial intelligence tool designed to help agents with their marketing.
The tool, straightforwardly called Compass AI, exists within the brokerage’s technology platform. According to a statement from the company, it’ll generate customized prompts that help agents create better social media posts, listing descriptions, emails and other forms of marketing. The statement adds that the tool will allow industry professionals to focus on human connections, and will elevate “the overall service Compass agents provide while saving time and money.”
“Compass AI empowers agents to focus on what truly matters — serving clients — while the technology optimizes their communications and marketing,” Compass founder and CEO Robert Reffkin said in the statement.
The statement also offers several specific examples of what the tool can do. The examples include writing a 30-second video script to promote an open house, generating 20 client appreciation ideas, and creating an SEO-optimized social media post.
Reffkin first publicly mentioned the tool on Instagram Thursday. His post quickly generated numerous responses, most apparently from Compass agents and some offering positive initial reviews of the technology.
“Already using it today and wow, two marketing campaigns designed quickly and beautifully,” one commenter said.
“Working great! Tried today!” another added.
The debut of Compass AI comes amid what might be deemed the Year of AI thanks to the explosive popularity of chatbots such as ChatGPT and image generators such as Midjourney. Though such tools technically reached the public last year or earlier, it was during the first quarter of 2023 that they really began permeating the public consciousness.
Real estate professionals were among the earliest adopters of such technology, with agents telling Inman earlier this year they were already using chatbots to write descriptions of their listings and generate content ideas for podcasts, among other things.
At the same time, others in the industry raised questions about the potential of the technology to exacerbate problems such as discrimination and fair housing violations.
Compass seems to have anticipated those concerns, and notes in its statement that it urges agents to review the new AI’s responses “for accuracy and compliance with laws before use, including fair housing laws.”
Compass AI is also launching less than two months after the brokerage added another feature, a performance tracker, to its technology platform.
Technology has always been a major part of Compass’ pitch to agents, and is one of the things that has helped the company grow into a major player in a relatively short time. Case in point: Earlier this year multiple agents reported returning to Compass, after previously defecting, in order to once again gain access to the brokerage’s platform.
“The tech platform,” Denver agent Lori Abbey told Inman in April, “is really beyond compare.”
Email Jim Dalrymple II