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ChatGPT is helping workers in real estate, finance and health care do their jobs

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In the three months since the artificial intelligence tool ChatGPT was introduced to the world, workers have already harnessed it to make their lives easier. Professionals in fields including real estate, health care and finance say they save time and work more efficiently using AI.

Here’s how these workers described using the tool in their day-to-day jobs.

Write me a real estate listing

Mala Sander, a top real estate agent for the Corcoran Group who focuses on the Hamptons, has been using ChatGPT regularly for the past couple of weeks to help her write real estate listings and devise marketing strategies for properties.

“I asked it to write me ad copy about a house in Bridgehampton with a pool and tennis court on two acres and I listed the other features I wanted to highlight,” she told CBS MoneyWatch. “And it would weave this fantastic copy into something that you could actually use.”

She uses ChatGPT to change the tone of listings too. “I’ll say things like, ‘write this toward a millennial audience’ or ‘make it funny.'”

screen-shot-2023-02-08-at-4-21-26-pm.png
Top Hamptons real estate agent Mala Sander uses ChatGPT to help her write listings.THE CORCORAN GROUP

Her routine these days is to have her team write the first draft of a listing “and crunch it through to see if ChatGPT can edit it down and make it more concise,” she said.

On a whim, she asked the bot to write her a marketing plan for one of her listings. It delivered. It gave her a breakdown of a campaign that would include digital, print and social outreach, she told CBS MoneyWatch.

“It talked about everything from direct mail to online digital advertising to social media, and it even came up with some percentages that might be ideal,” Sander said.

Having worked as an agent for the last 20 years, Sander is quite capable and efficient without ChatGPT.

“But it is useful,” she said. “It’s like talking to another person, almost like having work therapist to say, ‘Am I moving in the right direction with this or should be looking at some other things?'”

Elia Mazor, marketing manager for The Glazer Team at Corcoran, said he also uses ChatGPT to write listings and create other content.

“Sometimes you get writer’s block, so I use ChatGPT for a bit of inspiration and to provide a different tone,” he said.

Mazor said ChatGPT helped his team write the description of a new apartment listing on West 9th Street in Manhattan’s Greenwich Village.THE GLAZER TEAM

Financial planner’s assistant

Certified financial planner Michael Reynolds uses the chatbot to help him draft blog posts that educate his clients about financial documents like wills and trusts.

He tells ChatGPT the topic he wants to address, and enters a prompt like: “ChatGPT, create an introduction on why estate planning is important.”

It spits out paragraphs that Reynolds then edits in his own voice.

CFP Michael Reynolds said ChatGPT helps him create content faster.ELEVATION FINANCIAL

In a recent article on estate planning, Reynolds relied on ChatGPT to hook readers by driving home the message that “estate planning is an act of love for those you leave behind.”

“I asked ChatGPT to explain that and it put together a few paragraphs on why it’s thoughtful and considerate to do these things,” Reynolds said.

The process took about 20 minutes. If he’d worked on the article alone, it would have taken closer to two hours, he said.

He doesn’t use the tool to help clients make financial decisions — that’s still a job exclusively for humans, according to Reynolds.

“Financial planning is so nuanced, individualized and personal. It is hard to envision using ChatGPT to spit out recommendations without it knowing the client. I see it being more valuable in generating educational material to supplement what I am doing,” he said. “We don’t just crunch numbers; we coach people, listen to their concerns and help them talk through emotional situations. The creative, empathetic work we do as humans is irreplaceable as of today.”

Nick Meyer, another financial planner who produces shortform videos on TikTok, said he uses it as a starting point to come up with ideas for new content.

“I use it instead of Google search to get topic ideas, or to edit what I have already written,” he said. It also helps him make his videos funny.

“I can insert a couple lines of a script and say, ‘Make this more comedic, insert a joke on this line, or make it more concise,” Meyer said.

“Gobs” of medical information

Board-certified emergency physician Harvey Castro is advising digital health companies on how to best integrate ChatGPT into the health care sector.

He says one good application is creating and translating patient discharge instructions — rules for them to follow after a medical visit.

An expert in emergency medicine, if he were asked a dermatology-related question he was unsure about, Castro said he’d enter the query into ChatGPT for more information. In the past, he relied on other clinical search engines and resources like MDConsult, now called ClinicalKey.

“I could type it in and it would give me gobs of information. So it’s a supplement,” Castro said.

Doctors are also using it to enter a patient’s symptoms and have it return a differential diagnosis — a list of possible conditions related to the presenting symptoms, according to Castro.

“That is already happening today,” he said.

Study buddy

Rushabh Doshi, a second-year medical student at Yale University School of Medicine, likes to use ChatGPT to create sample questions while he studies for the U.S. Medical Licensing Examination.

Test prep services have limited practice questions, and ChatGPT can generate new ones on any topic based on the prompt he feeds it.

Yale med student Rushabh Doshi uses ChatGPT for medical information and education.COURTESY OF RUSHABH DOSHI

It helps him prepare for some patient interactions, too, but uses it strictly for medical education and not patient care.

“If there is a patient coming in with a disease I am not familiar with, I can go to ChatGPT and read up on it,” he said.

It also gives him information that helps him conduct more thorough patient evaluations. “I ask it to give me a guide of the types of questions to ask to make sure I am doing a comprehensive patient interview.”

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Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

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TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

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Homelessness: Tiny home village to open next week in Halifax suburb

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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

The Canadian Press. All rights reserved.

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Here are some facts about British Columbia’s housing market

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Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

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