Latest / Connor with Honor: AI, Real Estate and Real Life / Zillow Preview, a ChatGPT Home Sale, TerraFab and the White House AI Plan

Transcript

Zillow Preview, a ChatGPT Home Sale, TerraFab and the White House AI Plan · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Everybody is fighting over who gets to show you the house first, and nobody's asking whether the agent showing it is any good.
• 0:06
  SPEAKER_00: That's the story of this entire week, and it tells us everything about where artificial intelligence is versus really where the money wants us to think it's going.
• 0:14
  SPEAKER_00: So let me explain.
• 0:15
  SPEAKER_00: Last Monday, Zillow launched something called Zillow Preview.
• 0:19
  SPEAKER_00: It lets brokerages display listings on Zillow and Trulia before they even hit the MLS.
• 0:24
  SPEAKER_00: This isn't new.
• 0:25
  SPEAKER_00: Agents have been fighting for this, brokerages have been fighting for this, and syndication companies, they've really been fighting for it.
• 0:32
  SPEAKER_00: Keller Williams signed on, Remax signed on, Home Services of America signed on, probably selling out their agents.
• 0:38
  SPEAKER_00: The next day, EXP Realty cut its own deal to syndicate coming soon listenings to Realtor.com, Homes.com, and Google Home Search.
• 0:45
  SPEAKER_00: The day after that, Compass trumped the lawsuit, dropped its lawsuit against Zillow.
• 0:50
  SPEAKER_00: And behind all this, Compass just finished merging with Anywhere Real Estate, which owns COWAL Bankers, Century21, Corcoran, and Sotheby's.
• 0:57
  SPEAKER_00: That's 340,000 agents under one roof, the largest residential brokerages, brokerage on the planet.
• 1:03
  SPEAKER_00: Now, so we have two mega alliances form.
• 1:06
  SPEAKER_00: We have Team Compass, Redfin, and Rocket on one side, Team Zillow, Kelly Williams and Remax on the other side.
• 1:13
  SPEAKER_00: And I'm with an independent NEXP in the middle trying to play both.
• 1:16
  SPEAKER_00: Every single one of them is fighting over the same thing.
• 1:19
  SPEAKER_00: Who gets to show the listing first?
• 1:22
  SPEAKER_00: Who captures that first click?
• 1:24
  SPEAKER_00: Who owns the top of the funnel?
• 1:25
  SPEAKER_00: This is a plumbing war, and people are fighting over pipes.
• 1:29
  SPEAKER_00: And while they're fighting over pipes, a guy in Florida just used ChatGPT to sell his house.
• 1:35
  SPEAKER_00: Fortune magazine ran the story two days ago.
• 1:37
  SPEAKER_00: Robert Levine, cop Cooper City, Florida, father of three.
• 1:41
  SPEAKER_00: He used ChatGPT for pricing, for marketing, for scheduling, for negotiations.
• 1:46
  SPEAKER_00: He showed the home to 15 buyers.
• 1:48
  SPEAKER_00: Five of them made offers.
• 1:50
  SPEAKER_00: It sold in five days for 954 grand.
• 1:53
  SPEAKER_00: That was$100,000 more than what the real estate agents told him it was worth.
• 1:58
  SPEAKER_00: And the reason he gave for going around the agents, he said they lacked confidence in their own pricing.
• 2:04
  SPEAKER_00: So let that sink in just for a moment.
• 2:06
  SPEAKER_00: A chatbot had more conviction about the value of a home than a licensed professional who does this for a living.
• 2:13
  SPEAKER_00: That's not a technology problem, that's a competence problem.
• 2:16
  SPEAKER_00: And not one of these brokerages alliances, not Compass, not Zillow, not EXP, and not Keller Williams is apparently solving it.
• 2:25
  SPEAKER_00: You know what they're solving?
• 2:26
  SPEAKER_00: They're solving distribution.
• 2:27
  SPEAKER_00: They're solving who gets to show you the listing 48, 8 hours before the MLS lights up and it goes active.
• 2:34
  SPEAKER_00: They're not solving whether the agent behind the listing can actually defend a price to a seller's sitting seller at their kitchen table.
• 2:42
  SPEAKER_00: Now, this is what we keep talking about on this show.
• 2:44
  SPEAKER_00: AI doesn't care about your pipeline.
• 2:46
  SPEAKER_00: AI cares about your performance.
• 2:48
  SPEAKER_00: The agent that uses AI to build a pricing narrative that no seller can argue with, that agent's going to win.
• 2:54
  SPEAKER_00: That agent who's deploys a voice AI system that answers the phone at 2 a.m.
• 2:59
  SPEAKER_00: while every compass agent is in America is asleep, that agent wins.
• 3:03
  SPEAKER_00: The agent who builds a content library so deep that when somebody asks ChatGPT or Perplexity or Google AI who the best listing agent is in their city, their names come back.
• 3:12
  SPEAKER_00: That agent wins.
• 3:14
  SPEAKER_00: Not because of which portal show their listing first, because they were better.
• 3:18
  SPEAKER_00: Now, here's why this matters way beyond real estate.
• 3:20
  SPEAKER_00: That same pattern is playing out in every level in AI right now.
• 3:24
  SPEAKER_00: Saturday night, Austin, Texas.
• 3:26
  SPEAKER_00: Elon Musk stood inside a decommissioned power plant, shot light beams into the sky, and announced Terrafab, a$20 to$25 billion semiconductor fabrication facility, a joint venture between Tesla, SpaceX, and XAI, all Musk's corporations, of course.
• 3:42
  SPEAKER_00: The goal is to produce one terawatt of computing power per year.
• 3:45
  SPEAKER_00: For context, all of the advanced chip factories on Earth right now produce about 20 gigawatts per year combined.
• 3:51
  SPEAKER_00: He wants to build 50 times that under one roof, and 80% of it is going to be going into space.
• 3:56
  SPEAKER_00: Data center satellites, solar-powered launches launched by Starship.
• 4:01
  SPEAKER_00: Governor Abbott was in the audience.
• 4:03
  SPEAKER_00: Now here's the thing about Musk and chips.
• 4:05
  SPEAKER_00: He's never manufactured a semiconductor, not one.
• 4:08
  SPEAKER_00: Six years ago, he promised a battery revolution with within the 4680 cell.
• 4:13
  SPEAKER_00: His own supplier said it doesn't know how to make batteries.
• 4:16
  SPEAKER_00: The dry electrode process needed seven revisions.
• 4:18
  SPEAKER_00: It's still not at scale.
• 4:20
  SPEAKER_00: But when he stands on a stage in a decommissioned power plant and says he's going to build the largest chip factory in human history, well, we should be honest about what we're watching.
• 4:28
  SPEAKER_00: We're watching a man who controls Tesla SpaceX XAI and the social media platform that gets most of its news amplified, announced that he's going to control the chips too.
• 4:38
  SPEAKER_00: That's not innovation, that's consolidation.
• 4:41
  SPEAKER_00: It's the same play compass is making in real estate.
• 4:44
  SPEAKER_00: Own the listing, own the portal, own the mortgage, own the data, own the agent.
• 4:48
  SPEAKER_00: You own the chip, you own the energy, you own the satellite, you own the data center, you own the model.
• 4:52
  SPEAKER_00: Control the stack, every layer, top to bottom.
• 4:54
  SPEAKER_00: And for the rest of us, well, the question's the same whether we're talking about houses or semiconductors.
• 5:00
  SPEAKER_00: Where do we fit in?
• 5:01
  SPEAKER_00: Well, we fit where we fit on the ground doing the work, solving real problems for real people.
• 5:06
  SPEAKER_00: No trillion dollar satellite constellation is going to help a family in Mississippi sell their home.
• 5:11
  SPEAKER_00: Not 340,000 agent mega merger is going to make a new agent in Sacramento better at their listing presentation.
• 5:19
  SPEAKER_00: These problems get solved by people like us using tools that are available right now for$10 a month.
• 5:24
  SPEAKER_00: And that brings us to the third big story this week.
• 5:27
  SPEAKER_00: Last Friday, the White House dropped its national AI policy framework.
• 5:31
  SPEAKER_00: Four pages, seven pillars sent to Congress.
• 5:34
  SPEAKER_00: The headline is they want to preempt state AA laws.
• 5:36
  SPEAKER_00: One national standard instead of 50 different ones.
• 5:40
  SPEAKER_00: They want to protect kids online, streamlined data center permitting, crackdown on AI-generated scams and deepfakes.
• 5:47
  SPEAKER_00: And buried in the document is this line the administration believes that training AI models on copyrighted material does not violate copyright laws.
• 5:56
  SPEAKER_00: They're leaving it to the courts to figure that one out.
• 5:58
  SPEAKER_00: Now there's plenty to argue about in those four pages, and here's what matters in it for us.
• 6:02
  SPEAKER_00: The federal government just told the world that AI isn't going to slow down.
• 6:06
  SPEAKER_00: There's not going to be a massive regulatory wall.
• 6:09
  SPEAKER_00: The direction is clear.
• 6:13
  SPEAKER_00: That means the window for us, the small operators, the one-person shops, the people who actually deploy this technology and real businesses, that window's still wide open.
• 6:22
  SPEAKER_00: But it's not going to be open forever because the Musks and the Redfins and the Zuckerbergs are building walls around their ecosystems as fast as they can.
• 6:31
  SPEAKER_00: Our advantage is going to be speed, that nimbleness.
• 6:35
  SPEAKER_00: We don't need permission from a board of directors to ship something.
• 6:38
  SPEAKER_00: Our advantage is proximity.
• 6:39
  SPEAKER_00: We're already in the room with the client while these companies are still building the hallway.
• 6:43
  SPEAKER_00: Our advantage is trust.
• 6:45
  SPEAKER_00: We show up, we do the work, we answer the phone, we know the neighborhood, we know the family, we know the deal.
• 6:50
  SPEAKER_00: No AI model knows that.
• 6:52
  SPEAKER_00: Well, at least not yet.
• 6:53
  SPEAKER_00: Maybe not ever.
• 6:54
  SPEAKER_00: So here's what I want to leave with today.
• 6:57
  SPEAKER_00: Stop watching the brokerage war.
• 6:59
  SPEAKER_00: Stop watching the portal war.
• 7:01
  SPEAKER_00: Stop watching the chip wars and stop building.
• 7:04
  SPEAKER_00: Build your content, build your audience, build your AI systems, build your direct relationships with the people you serve.
• 7:10
  SPEAKER_00: Because when the dust settles from all these mergers and alliances and trillion dollar announcements, the only thing that's going to make going to matter is whether we're ready.
• 7:19
  SPEAKER_00: Not whether we pick the right portal, but whether we are ready.
• 7:22
  SPEAKER_00: AI for everyone, not just the wealthy, not just the mega brokerages, and not just the billionaires shooting satellites into orbit, but for everyone.
• 7:31
  SPEAKER_00: I'm Connor with Honor at Connor with See you tomorrow.