Real Estate AI Flash REAIF 003: ChatGPT Free Versus Paid Version (What You Should Know) | Jimmy Burgess and Rajeev Sajja
Is it really worth upgrading to the paid version of ChatGPT? The free version provides more than enough writing to help real estate agents to get things done. Right?
In this episode of The Real Estate AI Flast Podcast, co-hosts Rajeev and Jimmy dive into a detailed comparison between the free and paid versions of ChatGPT. With six key differences, they guide real estate professionals and businesses on which version best suits their needs.
They break down the functionalities and implications of these differences for users. Tune in and hear the differences between ChatGPT 3.5 and ChatGPT 4 in this week’s episode.
Difference #1: Single-mode vs. Multimode Conversations
- The free version (ChatGPT 3.5) is limited to text conversations only.
- The paid version (ChatGPT 4) offers multimodal chat, allowing text, image, document, and PDF uploads within the same chat, enhancing productivity and communication.
Difference #2: Knowledge Cut-Off
- The free version has a knowledge cut-off of January 2022, increasing the likelihood of incorrect or outdated responses.
- The paid version boasts a knowledge cut-off of September 2023, providing more accurate and up-to-date responses, with the potential to connect to an Internet browser plugin to eliminate the cut-off.
- Up-to-date market trends and accurate information can be accessed using the paid version, which is crucial for real estate professionals seeking the latest localized data for client interactions and decision-making.
Difference #3: Memory Limits
- ChatGPT 3.5 has a word (token) limit of approximately 3000 words, leading to memory loss in prolonged conversations.
- ChatGPT 4 offers a significantly larger memory limit of 25,000 words, essential for sustaining longer text conversations without memory decay, ensuring continuity and accuracy.
Difference #4: Document and File Uploads
- ChatGPT 4 allows users to upload files, including spreadsheets and PDFs, which can be summarized and discussed within the chat.
- Real estate applications include summarizing competitor documents, assisting with CRM data upload, digesting industry reports, enhancing productivity and data management.
Difference #5: Plugins
- The paid version allows access to a wide variety of plugins, resembling apps on the phone, enabling additional capabilities such as summarizing YouTube videos, aiding in research, and enhancing workflow efficiencies.
Difference #6: Building Custom GPTs
- ChatGPT 4 introduces the game-changer of building custom GPTs, potentially revolutionizing real estate-related tasks like creating listing descriptions, business coaching, and negotiation learning, all tailored to user specifications, saving time and increasing productivity.
- The ability to customize GPTs for real estate-related functions can significantly streamline tasks, improve communication, and enhance service quality for clients.
Rajeev and Jimmy emphasize the remarkable value of the ChatGPT paid version, priced at $20 a month, as a pivotal tool for businesses. The episode highlights the transformative nature of these key differences, providing real-world examples for real estate professionals and offering insight into the future of AI integration in real estate and beyond.
What are the other benefits of AI tools and ChatGPT for the real estate industry? Subscribe to The Real Estate AI Flash podcast to find out!
"If you're listening to this, you're walking away with some new information, some information that helps you serve your clients at a higher level." - Jimmy Burgess
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