AI Architecture, Lease Summary GPT, and a CRE Use for Google Gemini
AI Architecture, Lease Summary GPT, and a CRE Use for Google Gemini
ChatCRE: September 2024 Edition
As you may have noticed, it’s been a little while since the last edition of ChatCRE. The past few months have been an exciting whirlwind as I’ve been immersed in a few key projects that I’m happy to fill you in on.
Project 1: CRE CRM Buyers Guide with CREDaily.com
I’m proud to announce the publication of the CRE CRM Buyers Guide in partnership with CREDaily.com. I worked in tandem with the good people at CRE Daily to provide a comprehensive review of common CRMs used in CRE, an in-depth analysis of what these products offer, and what types of CRE use-cases they’re best suited to.
If you’re curious what CRM may be the best fit for your CRE operation, I highly recommend you give it a read. You can check it out here: Best Commercial Real Estate CRMs for 2024.
If you take a run through the guide and you’d like a personalized recommendation on what CRM might work best for you or your business, simply respond to this email, I’d be happy to connect!
Project 2: The AI for CRE Class with Rod Santamassimo
I also had the honor of teaching an AI class this summer to nearly 100 commercial real estate brokers with legendary commercial real estate coach, Rod Santamassimo. Over five weeks, we delivered high-impact lessons on a variety of topics:
Crafting an Authenticity Doc to make AI sound just like you and appeal to your ideal clients
Building a Social Media Post Generator with ChatGPT
Using tools like DALL·E 3, MidJourney, Google Earth Studio, and InVideo.ai for image and video creation for property marketing
Creating Custom GPTs to execute tedious CRE tasks and automate them with Zapier
Leveraging AI tools for creating marketing materials and pitch decks in minutes
The class was enjoyable for all involved, and we’ll likely offer it again in the future. If you’re interested in joining the next AI for CRE course, let me know by responding to this email.
And now, on to your belated dose of news and tips on using AI for CRE.
Featured AI Tools & Resources for CRE:
qbiq: AI-Generated Test-Fits & 3D Renderings for Office Spaces
(Find more info at qbiq.ai)
I should preface by saying that qbiq isn’t so much an AI tool as it is an AI-powered service, but what they do is still very impressive. It’s the first AI service I’ve seen enabling CRE firms to QUICKLY generate floor plans and renderings to help reimagine spaces.
qbiq allows you to upload an as-is floor plan of an office, and then walks you through a workflow to select the number workstations you want, how many private offices, conference rooms, etc. It then allows you to pick out your finishes from desks to partitions and flooring (they have an extensive library of options to choose from).
Once you’ve picked your finishes, qbiq generates hundreds of potential floor plans based on your requirements. These plans are reviewed by qbiq’s (human) in-house architects, who narrow it down to your top 3 viable floor plans, which are delivered to you in under 24 hours, along with CAD files, and a full virtual tour of the plan you like the best shortly to follow. qbiq will also provide you with estimates for needed buildout materials (though they don’t provide pricing estimates). Like I mentioned, this is not a do-it-yourself AI tool for generating floor plans and renderings, but qbiq offers a compelling solution for building owners looking for speed of execution and cost-effectiveness.
qbiq pricing runs on a subscription model and starts at $.15 per square foot per year, getting you unlimited test fits over the course of that year. Depending on how frequently you need to provide test fits and renderings for your buildings, qbiq could represent an interesting opportunity to save money and produce visuals faster, shrinking your leasing timeline by removing the bottleneck that is lack of imagination.
I haven’t personally used qbiq , but I’ve done a demo with their team and their platform is very impressive. qbiq is an international company, which began ramping up U.S. operations in 2024, they focus primarily on office space, but have their sights set on retail.
You can learn more about qbiq here.
Commercial Lease GPT: Your Commercial Lease Summary Assistant
If you follow me on X, you know I’ve been experimenting with Custom GPT’s for a while now (customized versions of ChatGPT, built to execute a specific task). Last year I released Real Estate Writer Pro to the public, a tool for drafting property brochure copy from top to bottom based on your templates, since then it’s been used nearly 1,300 times.
This week I’m excited to release a new GPT to the public: Commercial Lease GPT.
You can access Commercial Lease GPT here.
Here’s a quick video showing the GPT in action:
The purpose & function of this GPT is as simple as it gets - Upload your lease (PDF or word document), and it will provide you with a summary of key lease components in seconds. You don’t need a fancy prompt, you don’t need to be a ChatGPT expert, you just upload the lease and go.
A few things to know before using it:
You’ll need a paid ChatGPT account to use any custom GPT’s, including this one.
I HIGHLY recommend turning off data sharing on your ChatGPT account so that information and documents you upload aren’t used by ChatPT to train their systems, you can learn how here.
Lastly, even if you’ve turned off data sharing, don’t upload anything with Personally Identifiable Information into ChatGPT (or any AI).
Unfortunately, this GPT does not work with scanned leases.
I initially released this GPT to a small group of people and I’m happy to say the feedback has been very positive. That said, if your leases are complex they may require a custom GPT built specifically for the kinds of leases you’re used to working with, or the details you’re generally looking for. If you want help building one, feel free to respond to this email.
If you find this GPT helpful, and think it could help someone else in your network, consider sharing it with them.
AI Question of the Week:
What AI tool CAN I use to summarize a SCANNED lease?
Within 2 hours of letting people test the Commercial Lease GPT, multiple people had reached out with this same question.
Luckily there’s an easy answer.
If you’re looking to leverage AI to frequently summarize and get questions answered about scanned documents: My pick for this is Google Gemini.
Gemini is NOT my favorite LLM, but if reviewing scanned documents is a key feature you want to get from your AI tool of choice, this is my go-to.
Unfortunately, the ONLY way to turn off data/conversation sharing with Google Gemini is to upgrade to the paid version. But if the majority of leases and documents you need to leverage AI for are scanned, it’s likely worth the $20/mo.
That’s It, That’s All
Thanks for reading the September 2024 edition of ChatCRE. This newsletter is a bit shorter than the first two. The goal is to provide you more AI insights in less time, but I want to hear what you thought!
Feel free to comment with what you liked or could do without, send me a message on X, or just respond to this email. If you found this helpful, please consider passing the newsletter along to a friend: