Dell Technologies

eXp Realty Launches AI Support Chatbot
eXp Realty is building on its focus on innovation and technology with the launch of an AI support chatbot called "Luna." Luna is powered by ChatGPT and GPT-4 and is available 24/7 to all eXp Realty agents to interact with the company, get assistance with day-to-day tasks, find answers to questions in real-time and get help on a variety of topics ranging from policies and procedures to tips for setting up listings, appointments and generating reports. "Luna is our first step toward using AI to empower agents," said Glenn Sanford, founder and CEO of eXp Realty. "We created Luna in direct response to our agent NPS feedback. We hear from agents all the time that this business is 24/7, so this is another way to provide support in a way that helps drive our agents' businesses." Using AI to help agents increase their productivity The company is also incorporating AI into its web-based metaverse platform, Frame (framevr.io), which now has a GPT-powered assistant in its text chat and AI-based content generation tools to help users increase productivity and customize their metaverse experience. "We believe that AI can be used in the metaverse to increase productivity and cultivate creativity," said Sanford. "We have AI tools coming out in Frame for meeting summaries, surfacing relevant content during conversations and even improving accessibility for deaf or blind users. Innovation is our theme for 2023 and we will carry that focus into EXPCON later this year, where we will really zone in on AI and its capabilities in this industry. I'm looking forward to even more exciting ways we will continue to look to AI to improve our business, for example using a BOT at SUCCESS to leverage the massive amount of valuable content we have

How to Reduce Stress from Tech: 4 Time-Tested Tactics
Brokers and their agents are stressed out: long hours, a seismic shift in the market, a record jump in mortgage interest rates, not to mention a pandemic that turned so many lives upside down. And because of the pandemic, the entire real estate industry jumped on the tech bandwagon, catapulting the adoption of new technology by industry pros — we Zoom, Dropbox, eSign, Facebook, and Google more than ever. Screen time is soaring with the onslaught of new technology dominating a broker's workday. What can you do to reduce stress, especially from tech? Here are four time-tested tactics experts suggest can help brokers – or agents – reduce technology-induced or aided stress. Digital Detox: You need to take a complete break from technology, starting with your smartphone. Build this into at least a weekend vacation. A few days of near-zero screen time can do wonders to help you learn to relax. That means no social media scrolling or checking texts or emails. No video games playing or even watching the news. It's time to break away. Get help from a coworker or your significant other who can monitor urgent messages that may need your response because we all know real estate happens. Pro tip: Go to your happy place – your favorite vacation spot or getaway to chill out (unless, of course, your happy place is an internet café, but that's doubtful.) Divorcing yourself from all things tech will reduce stress, increase social interaction and give you more time control. In addition, you are likely to discover how much negativity digital devices may be contributing to your daily life. Change your tech tendencies: Most people are creatures of habit. The same is true when it comes to the technology we use. Is your phone by your bedside at night? Do you ever check your email in the middle of the night or pick up your phone immediately after waking up? Do you use your phone in the bathroom? How much total time do you spend looking at a screen each day? Your smartphone tracks that and can tell you. How do you feel after spending time on Instagram or Facebook? Happy or sad; frustrated or angry? Taking a full assessment of your tech habits and how you react when you use technology for different things can help you change your tendencies. Be proactive: create one if you don't already have family rules in place, such as no phones out at the dinner table. Understanding how you cumulatively spend your time and energy now with tech will help you correct or reduce bad habits and discover better, more positive ways to use your time. Increase face-to-face interaction: Are you Zoomed out? A lot of brokers find being in Zoom meetings all day can be exhausting. It's a great tool, but like everything, it requires use in moderation. Have you noticed increased pleasure when spending time face-to-face with other people? Humans hunger for interpersonal interaction, which seems particularly true for real estate professionals. There is no substitute for face-to-face communication as a stress reliever. Spend more time meeting with your agents and other professionals in person. You will likely find it less stressful but a lot more enjoyable, productive and fun! Set a curfew for your tech: Did you know that blue light emanating from your phone that you are looking at in bed can wreck a good night's sleep? According to health professionals, your mobile phone screen reduces the production of melatonin, a hormone controlling your sleep-wake cycle or circadian rhythm. As a result, using a mobile phone at night can make it difficult to fall asleep and wake up the following day. In addition, researchers note that the circadian rhythm appears extra sensitive to blue light, making your brain think it's daytime. The best advice: unplug at night. Turn your electronic devices off an hour before you go to sleep. Let's also acknowledge that while technology may contribute to your stress load, it can also relieve stress. You can enjoy silly videos or funny memes and listen to your favorite music on your phone. Meditation apps like Calm or Headspace can help you relax – and fast. Your Fitbit or Apple watch can help monitor your physical activity, which also reduces stress. You can even schedule a video session with a therapist to discover more ways and methods you can use to reduce stress. Even broker tech tools such as transaction management software like Form Simplicity can help reduce work-related stress. They help keep you compliant, streamlines your workflow, and help you stay connected to your agents. You can learn more about how Form Simplicity can help brokers at formsimplicity.com/brokers. Tricia Stamper is Director of Technology at Florida Realtors®, which owns and operates Tech Helpline and Form

Broker Tips: Supporting Agents During Seller's Markets
Earlier this year, a mansion in Maryland sold for $1,000,000 over asking, an offer nearly 30% higher than the listing price. Offers like these have become the norm in many places. For a typical house listed at $300,000, that would mean selling for $387,000. Put plainly: we're in an epic seller's market. Seller's markets are affected by many factors, including inventory, interest rates, and consumer behavior. The pandemic created a perfect storm of factors resulting in historically low inventory and interest rates, paired with surging demand, especially among millennials. And these conditions are expected to continue for some time. Brokers are uniquely positioned to support agents during seller's markets. These periods can be particularly stressful due to the intensity of negotiations, the likelihood buyers' offers will be rejected, and less predictable commission income. Brokers can help by offering the best combination of services and support for their agents. Read on for ideas on how to help your agents be successful during these periods. Planning and strategizing Brokers need to be equipped to help agents with seller's market strategies. These include tips and tricks for locating new listings, maximizing buyer offers, negotiating the best terms, and finally choosing the winning offer. Strategic guidance from brokers will reduce agent stress and increase customer satisfaction. Attracting listings Agents need a steady stream of buyer and seller leads, and their overall lead generation strategy should have specific seller lead gen tactics. Just one such tactic is automated home valuations (AVMs), which use real-time data and mathematical modeling to estimate listing prices in a certain area. AVMs can easily be added to your brokerage or agent websites to encourage potential sellers to provide their contact information and list with your team. Setting listing prices Listing prices are really important, even in a seller's market. Aim too high, and you scare away opportunities that could drive the price up or improve terms. The trick to setting the right listing price is staying on top of local market trends. It is easier than ever for brokers to analyze their own MLS data and generate market intelligence for picking the best listing price. Marketing and showing listings Houses might sell themselves during seller's markets, but agents should always aim to maximize buyer offers. The best way to get multiple offers is through high-quality and consistent marketing, both in print, online, and in-person. Good staging High-quality listing photos and videos Virtual tours Virtual or in-person open house Social media campaign Listing site Flyers Lawn signs A tool like a full-service print and digital marketing suite can help simplify and automate many of these marketing tasks, so your agents can offer stellar customer service instead of stressing about social posts. These same tools help take the place of yard signs when there are fewer houses on the market: an active social media presence propels your brand even when listings are limited. Streamlining transactions Real estate transactions are complicated. An end-to-end transaction management system with electronic signatures will make your agents' and admins' lives a whole lot easier and help them focus on serving customers, not searching for files. Ensuring accurate, timely commission payments After working hard to close a deal, agents want to get paid the right commission amount on time. With the number of different commission plans and brokerage fees out there, paying commissions properly can be more complicated than it sounds. Luckily, there are highly customizable, intuitive, and flexible solutions like Constellation1 Commissions to help you make sure your agents get their money quickly and accurately, without worrying whether you did it right. Set your team up for success Home buyers and sellers rely on real estate agents for their professionalism and expertise to help them get the most out of their transaction. Agents rely on their brokers to provide the right tools, support, and fair compensation. When you give your team what it needs to succeed, you will have happier agents and happier clients, helping your brokerage grow into the future, no matter what kind of market you're in. To view the original article, visit the Constellation1