How Important is Accurate Information About Property?

Real estate licensees are expected to present accurate, verified information about the physical characteristics of a property. These days, some of their descriptions read more like puff marketing pieces. Yes, it’s a tough sales market, but all marketing by licensees is regulated by the states where they are licensed. Many agents are using AI to write property descriptions, complete with AI hallucinations.

Trying to project that a particular property is a “lifestyle” type property a la social media can subject licensees to serious discipline. Marketing to a particular segment of the population may invite scrutiny into possible violations of Fair Housing laws, etc.

For you, as a buyer, let your agent know that you will make the determination of what is necessary and desirable for yourself, by using objective criteria about the property details.

Also, it doesn’t hurt to verify the license status of someone claiming to be a real estate licensee before you meet with them or let them into your home.

You can check real estate agents’ licensing status by visiting arello.com

AI & Real Estate Contracts

Did you know that many people are uploading real estate contracts into AI platforms such as Chat GPT to get analysis of what they’re going to be signing?

However, what many people do not understand is that Chat GPT is not always correct when it comes to interpretation of contractual terms and how they relate to state and federal laws. Sometimes AI platforms even hallucinate with “pie in the sky” answers.

This could lead to making a catastrophic mistake in any purchase, sale or lease of real estate.

That’s one good reason to consult a real estate professional with years of experience. An experienced broker should have a knowledge base that allows them to solve many problems and explain many different scenarios to clients so their clients can then make the best business decisions for themselves.

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