I surveyed a community of Real Estate agents, asking them if they've use an AI tool like ChatGPT to answer a mortgage/loan related question in the last 6 months.
35% of them said Yes
Some of the ones that said no, mentioned they've never thought of doing it but would be interested in trying next time:
My point is that % is growing every day
AI tools are getting really good at giving users answers to their specific questions, mortgages included
So does this mean AI will make Mortgage Pros extinct?
No...
…BUT believe now is the best time for Loan Officers to embrace AI, build their OWN tools, and become the go to AI Resource for their referral partners.
See ChatGPT is great and will only get better at giving mortgage information but it will never have the nuance that actually help Realtors.
ChatGPT does NOT have your years of experience.
ChatGPT does NOT have the specific nuance of your market.
ChatGPT cannot recommend the special programs and overlays that only you and your company can provide.
The big AI tools will only be able to provide surface level information and never the nuanced, actionable advice that, we both know, is what ACTUALLY helps your referral partners.
Today you can train your own chatbots that can quote directly from:
Loan program guidance
Your company's specific overlays
Your own advice and experience
Provide chatbots that can help agents with their most common questions like:
“How much can my client save from using a temporary buy down?”
“What are the net proceeds from my client's home sale?”
“What is the ROI of buying this property?”
Loan Officers won't get replaced with AI tools, they will lose out to their competitors who offer their own.
If you want to see what owning your AI mortgage tools would look like book a free demo call HERE.
Cyrus