After gaining worldwide buzz in late 2022, ChatGPT, created by Microsoft-backed firm OpenAI, is finding its way into the mortgage industry.
Most recently, Big Purple Dot, a real estate marketing platform, moved to integrate ChatGPT into its customer relationship management ecosystem. The Irvine, California- based company is one of the first technology firms in the mortgage space to do so.
Incorporating the trendy artificial intelligence chatbot will allow for real estate professionals to interact with their leads in a more "natural" and "intuitive way…saving time, improving lead conversion, and increasing sales productivity," the company said.
Among its many capabilities, the AI chatbot can eloquently and instantaneously answer queries and write extensive creative literature, whether it be poetry, press releases or LinkedIn posts.
"The integration of ChatGPT with our CRM platform will revolutionize the way loan officers, real estate agents, and recruiters communicate with their clients," said Roxana Davidoff, CEO of Big Purple Dot, in a written statement. "With natural language processing capabilities, our users can provide quick, accurate responses to clients, freeing up more time to focus on building relationships and closing more deals."
Stakeholders who use Big Purple Dot's CRM system have immediate access to the AI chatbot, but the official release date is set for April 30.
Going forward, lenders and real estate agents will be able to use the AI assistant to have continuous communication with their clients without having to do any of the heavy lifting, Big Purple Dot's claims.
In the capacity of an AI chatbot, ChatGPT will be able to understand and accurately respond to queries in a more "human-like way."
Though the implementation of artificial intelligence has been mediocre at best in the industry, mortgage stakeholders for now have
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