ChatGPT's Real Estate Potential Is Big, But Attorneys Urge Caution

Technology attorney Glynna Christian spoke with Law360 about how OpenAI's new natural language artificial intelligence (AI) tool ChatGPT could make the real estate industry more efficient. Real estate attorneys are already seeing and hearing of ChatGPT's use in the field, mostly by brokers using the generative language model to write property listings. Ms. Christian pointed out that ChatGPT's ability to create natural-sounding original content can be a big time-saver and add freshness to sales and marketing materials.

"Every industry, including real estate, is dependent on clear, responsive language," she said. "For example, think of all the interactions that property managers have with tenants."

Ms. Christian also cautioned users that they need to be aware they are subject to a legal contract with OpenAI and its terms of use, which include a prohibition on representing that any output generated by ChatGPT is human-generated.

"One of the challenges is that you do not know the data that went into training the ChatGPT model or whether OpenAI had the rights to that data, if the data violates law, or if the data is sufficient to derive an output that will be appropriate for your use," she said. "Therefore, you should avoid using ChatGPT in situations where the decision or content it provides could lead to liability, such as making decisions on consumer rental applications or credit applications."

READ: ChatGPT's Real Estate Potential Is Big, But Attorneys Urge Caution (Subscription required)