Chris Prefontaine leads a group through using Grok AI to analyze real estate deals. Rick fed a rural property's specs into Grok and got comps that valued it at $750K instead of the $1.1M asking price. The group covers how to format prompts, refine outputs, and use buyer data like days on market and price per square foot to negotiate with sellers and realtors.
Chapters
There's no other way to set the scene for you to do business together than to just be open and clear.
Judy, what I did is I used the one property that I'm waiting to get under contract right now. It's an unusual property. They had a paving company, so it's got a 40 by 40 garage that you put a tractor trailer in. And lots of paving equipment. They're going to sell equipment off and it's rural, very rural. And the seller had it on the market for $1.1 million. It didn't sell back in the springtime. So I had problems running comps. So I went into Grok and I put all the property description, you know, that it's zoned residential, commercial, industrial, 40 by 40 garage, all the property details. And it came up with all the comps.
And everybody get what Rick's talking about, please. If you don't, raise your hand. Correct.
Yeah.
Rick, just real quick. What— how do they find that, please? Because a few people don't know what it is.
It's just to search for Grok AI.
Okay. Correct. Yeah.
Okay. And you just want to be sure that any amenities upgrades You know, if it's near a lake, anything that you can add to it to give it information, because that's what you're doing, you're training it. And what I did is that report came out to $750,000 without the paving equipment, and it had all the data behind it. And just in case the seller pushed back, I sent them that report. You know, I filtered out me asking it the question, but I put it in a Word document and sent them the analysis and they were good with it.
How would you guys like a full training on that?
That'd be good. And it— okay, Rick, I'll put something in Slack on that too.
One sec, Judy. So at 4:00 today in the sit-down, Zach's doing a training on it. On AI, specifically how he finds comps for our biz. Okay. 4:00 today. Ask and ye shall receive. Sorry, Judy. Go ahead. You're going.
What if it's in reverse, Rick? Like it's a hoarder house, you know what I mean? Like, it's not like you can't even see some of the stuff. Like, the power's off.
Well, this particular property was not far from being a hoarder house, and that's their delay in signing a contract is they're taking out truckloads of stuff.
Right.
He put the onus on them, Judy, to take it out.
Yep.
Yeah.
Okay.
Because I've got 2 situations. One, they're not going to take anything out. The other one, they're starting to take stuff out and to the dump, so on and so forth. But just like struggling with comps. So I'll take a look at what Zach has down. And then Chris, I went through and did pendings for similar type properties and solds in the last 6 months in those areas for both properties. So I'll review that with you as a—
Oh, and you should do what you should again, put your buyer hat on and go look for houses active.
Like, like call a realtor and go look?
No, no, no. Sorry. Online look. Oh, and just that—
I don't know what that is.
Well, you said pendings and solds.
Well, pendings, wouldn't that be like I'm looking?
Well, they're under agreement. I would. So you're a buyer. You're going to look at actives.
I'm sorry, I meant current listings.
Yeah, that's good.
Yeah. Okay. Yes. So I have current listings and then I have solds. But some of the current listings are pending.
Okay. You want to look—
And then I have like days on market, price per square foot. I did all that.
You can use that to talk to the seller. You can see it. You look at it and go, would you want this one or this one for this price? Same price.
Okay.
That's it. Just kind of subjective. Okay.
But like, but, you know, like these houses, hoarder houses, you know, like that type of stuff. Some of them don't have pictures. So it's just kind of one of those things that, you know, like, I'd rather be more conservative.
100%. When it's a problem, you can walk conservative. Yeah.
Okay.
My point was, your eye is going to be the same as me or any of the coaches on this type of stuff, right? Because you just make an intelligent decision. If you got to— if he'd be jeebies about it, then you'd be more conservative.
Okay. So like, can you say, Rick, can you— a rundown 3-bedroom, 1-bath Yeah, that's not enough. Okay.
In the AI, you want to be as detailed as you can, and then when it spits out an answer, you can make adjustments and say, well, what about factoring in this?
Like hoard it like junk in the house.
Okay, so keep refining it.
Yep.
Got it. Thank you.
This is great, Judy. Bring that to Zach.
Okay. Yep, I will.
Yeah, you guys, it's great. Hey, you guys, I would suggest, as I do— I didn't do it at the beginning of this call, but I haven't done it in a long time. When you're in a mastermind like this, I would suggest you put a letter A for any action items and an I for any ideas you got out of this. And so when you leave the mastermind call, you do take action or put the idea somewhere, right? It's the whole idea here. And on the mastermind call, the coaches are probably going to ask us something like, hey, what was your biggest idea or action item you got from the mastermind? So So that others can learn from it. So side note, let's go on that and then I'm going to pivot and then pivot back. Not sure where to get started? Go to smartrealestatecoach.com/getgoing for free books, strategy calls, and a whole bunch more. We're going to help you get going the wicked smart way. We've been after this for over a decade doing exactly that.
And a real quick question on the appointment yesterday where I went to meet with the realtor. She was interested in the process and then she mentioned her house was on the market. So she had me go look at it. She's wanting offers for where she's listed. She's about $80,000 over comps, what I can find.
Okay.
So I'm wondering if you could help me with script, because her big thing is, well, once they get in and see the home, they will completely appreciate it and pay more. Well, I don't want to burn— I don't want to burn the bridge with a realtor that's interested in it and could possibly send me leads. But yet she's— she's— I went and saw the house. I mean, yes, it's beautiful, but it's still out of whack.
Okay. So to start the discussion we just had and using what Rick said for Grok, I would do the exact same thing. I would get that if you're saying it's $60,000 or $80,000, bring those— she's a realtor— bring those pictures. She sounds like she's emotionally involved in her own house and say, what would you do as a buyer? And just show.
Okay.
Coaches, any other comments? I mean, because that question is very applicable to what we just talked about. She knows, just a genie telling you. Yeah.
I want to just approach it in the best manner I can without—
I agree, you just stop with her.
Yeah.
So have an open discussion with her.
Okay.
Annette, again, I always go to the neighbor. If this is your neighbor and you're very good friends, you'd go, what are you thinking about? Look, there's 4 houses here. They're all better than this. You're $80,000 higher than that. You know, have that friendly, open discussion. That's all. There's no other way to set the scene for you to do business together than to just be open and clear.
Good point.
In my opinion. And if she can't take that, that's probably a sign like how this is going to go for you over the next few months.
