Using ai in the REAL ESTATE space!

Oh. On this episode, we're gonna dive into AI with my preferred lender, Kelly Zitlow. We're just talking about all things AI, what we're doing and utilizing in them, and what impact this is going to make on us going forward. So let's dive into this.

What's up?

You're back.

Oh, I'm back.

Back. AI.

AI, you didn't even know.

You weren't talking to me right now.

I know I didn't. Is it you?

Is it me?

Okay, me. Not be you.

Well, what are you seeing on the lending side?

Gosh, I. I don't know. That it's just, you know, it's not necessarily lending. It's changing us as a human population. It's changing business.

Yeah.

You know, in so many different ways. So, I mean, I almost feel like AI is obviously still just getting started, and it's just getting faster and it's getting deeper. So from a business standpoint, there's so many different ways that real estate agents and lenders in particular, that can leverage it. You know, I think there's some pros and cons to it. So I'm interested to know, how are you leveraging it as a real estate agent?

You know, what's interesting is I know a gentleman, Jim Carter, that was, you know, in the influencer world and email campaigns and social and all that stuff. And probably about a year ago, he dove into anything and everything AI, and that's just a specialty now. Like, he's an AI nutcase. A good friend of mine, the term of endearment.

Jim.

Totally. I love Jim, and he is salt of the earth when it comes down to it. And so I met him in Mastermind seven years ago, and we had some conversations back in September, October, and we ended up retaining him on a monthly basis. And he works directly with Garrett, and they're working on all these weird AI things in the background that sometimes they frighten the shit out of me. But we're looking at all the things just to speed up backside processes.

Yes. That's how we're using it.

You know, we started out and they built. Have you gone down the road of building your own chatbot?

Not yet.

Okay.

It's fascinating what Garrett's learned on feeding it the information and going through things. So he and Jim spent months building one chatbot, feeding it my book, my podcast, my videos, like, everything it knows about me. So what it's done is it's actually sped things up for me. So when I do an Instagram post, I'm looking at the video, I'll just type into my chatbot like the diving board.

Yeah.

And I'm like, I need five things that talks about flipping houses, blah, blah, and it'll give me five bullet points and write the post.

Right. But what's so great about that is it was your thought that you poured into it. And I think this is their big miss. I don't think people kind of understand that you develop a relationship with the AI, the computer. Like the computer. Right. And you have to feed it.

Yes.

You know, and, and so then it gets to know our talk, our minds, our, our book, whatever that is. Then yes. Then once you've fed it now, it will produce information that's from your head as opposed to.

Or from my experience from the world. Right.

And that's a big differentiator. And I think a lot of people don't realize that that's the key in my experience, because it doesn't write like me, it doesn't talk like me, it doesn't think like me. But if we can figure out how to get it to do that, which is exactly what you just did, then it creates efficiency.

So the other piece that I found a couple of weeks ago, is it actually partly because I got into a tiff with a seller. A lot of verbal communication, not a lot of follow up in writing. And you know, he said, she said. I'm like, all right. So I started talking to Jim McGarrett. I'm like, hey, you know the. What can I utilize in AI to record conversations? Going to transcribe notes, those types of things. And so we were going through it and so Jim recommended Otter. And so we started using Otter AI. The cool thing is that it connects with your calendar. And so when you go into a meeting, it's ready to record and transcribe the meeting. So I started doing this on everything. The cool part is I also use another app called Record a Call. So I'll record my calls and then I'll throw it into AI. It'll transcribe it. The better thing with Otter, you got to go through a couple iterations, but just the speed of the conversation. Right. So I have an hour strategy session with somebody, Right. My mind is usually numb. When I'm done, you literally can go into the transcription and into Otter's AI and say, please draft me a follow up email based on this conversation. And it does it about 90% perfect. And then you're done. Right. So it's like in two minutes you can do the follow up from all the Thoughts in your head without thinking about it and put it out there. Or you just have the call that you can put in notes and send an email going, hey, just confirming our verbal conversation. This is what we talked about.

Right. Especially important because like you said, a lot is said in an hour and we'll forget. We're just humans. We'll forget. So I use Otter as well. Same thing. This is exactly how I use it. I do so many meetings that, you know, I gotta keep them straight. And so it is such a tool, a valuable tool that creates efficiency, that allows us to be where we need to be and not, you know, just being bogged down by manually typing our notes.

Yeah, right.

Or writing them out or next actions. It just expedites.

So what's awesome is that on Friday mornings, you know, I meet with 15 agents from real that. That are my. My agents in my network, and we're going through training and different things. I don't know if you caught in the transcript from last week, it was on Zoom. So in Zoom, I went through a training on a property. It screenshotted. Everything that I did in Zoom is in the transcript. Yep, everything is screenshotted. All the images that I. So all of it's in the transcript. And when I got there, what screens I was showing, what I was going through. Yes. I was like, what the hell? What the hell, Maeve?

Oh, my God.

The funnier thing is when you get on Zoom now, because I've recommended this. Yeah, there's like 20 Otter Note takes in the call. But what's cool is that when I come out, that recording is automatic. So I don't think about it. It's in my calendar for Auto. It goes to Tammy, and Tammy takes the training and sends a recap email to the agents when we're done.

So. Great.

And so they've got the call, they've got the training to go back on. You know, it's. It gives you to do's. It gives you pain points, it gives you all the things. Now it's not perfect, so you still have to go through and read through it. That's one. One version that we're using. And then where I really started using it is in the social scheduling. Yeah, these guys are pumping out content faster than I can keep up with. And when you recorded a video, you know, six months ago. So I literally, like, on Saturdays, I go through my posting schedule and I use Otter. I play a video, I let it transcribe, and then I tell it to help me with the post. So I don't have to sit there and type and think about where I'm directing because I spend so much time.

Yeah.

Overthinking.

Yes.

I just need a diving board to tweak messaging.

So to use it as a filter.

Yes.

To take the thoughts that are in your head and bring them to life with words. Yes. And the key, though, is that you can't just, like, automatically use that. It's just, like you said, it's just a foundation, and then you can, you know, make it your own.

You ready for the really scary part? AI this. This is what Garrett and Jim have been working on. And how many hours have we trained it?

I honestly have no idea.

Okay.

A lot.

A lot.

It's.

Yeah.

So this is a unique one because. So you look at something like a chat gbt.

Yeah.

And you can train it with X amount of words, whereas, you know, you can put like 200, 000 words or scripts into chat gbt.

Yeah.

This is like 200 million.

So this.

This will scrape, like, you could scrape your entire YouTube channel.

It will. It will train itself on your YouTube channel.

Right. So what AI is this?

This is deli.

Deli.

So, ready?

Yeah.

Go ahead, have a conversation.

Hey, this is Steve D. Valentine. What strategy are we working on today?

I want to buy an investment property, but I don't have any money.

You don't need a ton of money to start. Consider buying a home as an owner occupant with 3% down, then turn it into a rental property the next year. It's about finding creative ways to leverage what you have. Does that help?

Ask me something else.

What kind of credit score do I have to have to buy a house?

Typically, you want a credit score of at least 620 for a conventional loan. For FHA loans, you might get away with 580. But remember, the higher your score, the better your interest rates and terms will be. Did that help?

Oh, my God. This is, like, so cool. What? And so.

So last week we had a conversation with it, and it bought a house. Dude.

Yeah, so.

So it's. It's just taking the words, and it is going into all the stuff you poured into it, which is all the conversations he's had, his book, his podcast.

Strategies, teachings, things that are on YouTube, classes he's done. And then you obviously try to create parameters.

Right.

So I had to go back and make sure. Hey, never close a deal.

Right? Yeah. Don't spend Steve's money. Yeah.

There's still some creepies because even that.

Is like, does it Help.

That's great. But what I needed to do is more. So lead it to. If you have more questions, let's jump on a call.

Yeah, right.

Yeah, yeah, yeah.

Go back and fatigue a little bit.

But I can only imagine the mortgage lending world would have a compliance conniption because of. Our world is so highly compliant. I wonder how this works. But look, it's coming.

Well, it's.

It's coming or not.

So what's fascinating about this was the test case that Jim did with it was a guy that has a huge coaching business and his membership was like every 90 days would drop off new people. Right. So you're trying to keep this membership. So what he did is he went and trained this guy's AI. Like it was like 120,000 hours or something of training in that thing that he showed us.

Yeah, oh yeah.

Every, like every private coaching conversation he's had, like they uploaded everything and it takes feeds from YouTube so it's not like you have to go upload it. It's. It's scraping every day for your stuff and it's learning your voice, it's learning your responses, learning all the things. He's a little annoying. He needs a little help. He needs to like scale it back a little. So what he found meaning you, me, my digital version.

You're kind of annoying because it's your voice.

I know.

But it's not your voice.

I know, I know. It's close enough. I know.

Scary.

So what's fascinating about it though was he said that ever since they did that and you watch his version of this, people are having conversations with him at all hours of the day.

Yeah.

And they're staying on longer because they literally, he's like, we have people having hour long text conversations with an AI chat because they have access to him and they understand it's not him, but they're getting the same stuff. Just like having a conversation with a coach. And it's increased his longevity of a client because of it, because they have access to him anytime.

It's not like they couldn't go out and find the answers on YouTube themselves for him or you, but it's now putting it all into this. Ask a question, get the answer. Because now it's time to do the search. Now it's going to go find the.

Collateral on or it's at least going.

To give you ideas or point you to a podcast or something of that nature where it's like, hey, you know, for this, go to Kelly's YouTube video and it'll give you the link and it's pulling from all of your library of things that you've said 9,000 times repeatedly.

Talk about efficiency.

Right. So as I grow my network and we're working on this piece, it's an added bonus for them to. You have access to everything in my head for the last 20 years in this thing. Right. And if it's. If it gets weird, then call me. But until then, it's gonna at least give you some diving boards and some resources.

Are you using this with buyers and sellers at this point or is it just not yet?

I'm not using it with anybody yet. We're playing with it right now just to kind of test it. But it's interesting as we start going down like the road of our strategies. Right. So our five proven seller strategies and going through each one of those, he went back in and reformatted to talk about what each strategy is. So we defined it. So when you said, I want to buy an investment property, it's going through to the strategy that we use best for that.

And this specifically, it probably gets annoyed with me because that conversation is compounding because it's logged into an account, because it's just marked as private. But if you had an account to talk to Steve, all of your history would remember all of your history. So it would be like, oh, Kelly. Well, I remember. Well, we refinanced two years ago. It's gonna keep track of all of that stuff.

Oh my gosh.

So yeah, you can, you can like talk about that. You can upload customer data.

Yeah.

Through follow up boss.

So it's just a zap away. Right. So you can preload it. So if I knew, if I knew I was gonna send it to you to have a conversation with, I could take the information that I have in your follow up boss with us and preload it to the back end. So it's like, oh, hey, Kelly, you made it. Like, how's that house working out we bought in 2018? Like you can program in any way possible.

Oh my gosh.

But then it's kind of, it's learning you as well.

What does this cost? Is it expensive to do this?

It's, it's per. That's probably around 115 bucks a month as far as like the account to.

But then all the man hours, it's the training, the coaching, the uploading. So there's still.

Yeah.

You know, it's not easy to do it.

What's nice is you, like, for you specifically, I know that you have a Crazy awesome library with YouTube alone. And it's really difficult to find in AI tech that has permissions to go to scrape YouTube. Yeah. So we actually went through. You have to go through a whole person verification to prove that you're using it. You can't create a clone of somebody else.

Oh yeah, that's good.

It has to be you.

So. Yeah.

Yeah. It's a really neat company. I have a question on the back end of this. Like when you start using it with customers or consumers or whatever and you start to like when it starts to have conversations with people and you start to set up a call afterwards, like how are you getting the information that it already had with the conversation? Like relate back to us. So that way when dad goes to have the actual call, like he knows what he's talking about. Yep. So we'll have a couple options. One, ideally we're trying to get it to zap that info back to the conversation that's in hub info. So because you can track those conversations specific things into the notes or worst case when it's a login, we can always just log into the Delphi and see the back end of the chat and you can see the conversation that takes place. Oh, like that whole transfer. So that's kind of the fail safe to go. Oh, I'm meeting with Christian at one o'.

Clock.

Let me log in and see what conversation he's had so far. But ideally we're trying to put that in follow up loss so that everything lives in one place. Okay. Yeah. Pretty neat.

That blow your mind?

Yeah, I'm processing.

I like it when I make Kelly speechless.

Wow.

Because usually you're so far ahead of.

The game on things that is, well to my point, like it's happening so.

Fast, you know, I mean everybody's, everybody's just looking at the surface. Well not everybody, but some people are just looking at the surface level of what it does versus actually what it will do. It's really fascinating because Tammy was an early adopter of it, but she is a prompting genius. Right. So she'll go down the road of asking it questions, doing it this, tell me to do this. And next thing you know, like she did one for the business. It was, she answered 160 questions over a two week period of time that I gave it.

Oh my gosh.

And it took like 24 hours for it to spit out a six month marketing plan including posts, including all the things to do. It was a full on 6 month business plan based on her prompting.

Wow.

Have you Heard of, like, dark matter?

Yeah.

Do you use any of that?

We're actually just converting into their loan origination software. We're in the process of piling it now as a company. So they use Empower. Is there. Yeah. So we'll be in it within the next three months.

That's cool. They have some really awesome automated, like just the AI stuff that helps with a lot of what you would consider, like the grunt work of the processing side of things.

Yeah.

I have a friend who does all of their animation for their company.

Oh, interesting. Interesting. Yeah. I mean, the efficiency just that that software will bring to our company is just crazy for all those reasons.

Yeah. You know, like a centralized knowledge hub.

Yes.

Secure. Where you're getting your info from and what it's.

Yeah.

I think the interesting part in this is that it depends on the opinion. Right. So a lot of people are all up in arms about AI, whether it's taking jobs or doing things. What's your opinion? Is it more of an efficiency thing than it is replacing people or.

I think that it creates efficiency, which can help to reduce cost, but it also now allows us to do things that AI can't do, which is the people business.

Right.

So if we can spend more time with our clients and our real estate partners and really helping them solve for whatever it is, that's the lane I want to be in. I don't want to be doing email this, like, if you can automate it. Automate it so we can again be in the human business. That's my opinion.

Yeah. I think it's a piece where owning it. It's not about. You can't outsource relationship building.

Right, Exactly.

But you can give somebody the tools and the things and the information when and where it's needed. And one of the things that I'm really excited about this for real and for the agents is like, my brain is with you.

Right.

Like, let's dive into it. Like, just think of it as Google and it gives them some ability to jump into those things. And it's stuff that I've said over and over and over again.

Right.

And so it's kind of fascinating just to see where the efficiency. So I'm a big proponent in where can I buy time. Right. So it's fascinating about it when somebody looks at things like from a business operation standpoint.

Right.

Garrett has spent a lot of time training the AI to make all of our lives more efficient.

Right.

So it's not about replacing Garrett.

Right.

It's about how much more efficient is Garrett. How much more efficient am I like in my posting? How much time did I buy back every week by transcribing, doing that and moving it through versus how much time would it take me to write?

And it creates consistency because I would guess that you weren't posting consistent because you get frustrated self laughing gear. Boom, boom, boom, boom, boom. And now you are. So again, that's creating efficiency and leveraging time and yeah, awesome.

What a great conversation. And all the uses and I think Delphi.

I'm so getting it.

We'll connect, we'll connect you with Jim. Yeah, Jim's a great person. Just if you're at the forefront of that stuff, just learning some of the different things and having that person to go, what's new? What can we use this for? Where's our efficiencies? And just learning that that technology is just, it's better than AOL, MySpace. Alright guys, thanks for joining. And you know what? Dive into this AI stuff. Don't look at his replacement tools, look at his efficiency tools. And it's actually taking all the mundane BS that we do in the background and it keeps us more in front of people, which is actually where we serve the best. All right, till next time. Peace out.