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New York City-headquartered Corcoran Group has leveled up the use of artificial intelligence (AI) in its tech stack with the development of a new generative AI application for agents, Corcoran Copilot, the firm told Inman.
The new platform, which was developed at the end of 2023 and beta-tested in early 2024, leverages AI to produce content and save agents time in their business. For now, that content includes listing descriptions and hashtags, but the team plans to expand the software’s capabilities in the future to develop additional content, like agent bios and social media captions.
The firm did a soft launch of the product in April and has now started rolling it out to all agents.
Alisande Heriyanto | Corcoran Group
“This is just the beginning as we’re on the bleeding edge of this technology, we are looking at everything and not stopping at anything,” Alisande Heriyanto, Corcoran’s vice president of product and tech support, said in a statement. “Corcoran is always looking for what’s next and where we can leverage these advancements in technology in smart and useful ways for agents.”
Corcoran Copilot is integrated with the firm’s listing databases and was developed to adopt Corcoran’s editorial voice, comply with Fair Housing regulations and follow best practices for SEO. The platform is a closed system, which only draws information from within Corcoran’s network.
Pam Liebman | Corcoran Group
“We pride ourselves on exploring every possible avenue to ensure the success of our agents, and our incredible product and tech teams are leading the industry in creating the exact software needed to guarantee their unrivaled success,” said Pamela Liebman, president and CEO of Corcoran. “Corcoran is thrilled to provide this resource to all of our agents and affiliates.”
Corcoran Copilot’s current NPS score, which measures customer loyalty and likelihood to provide a recommendation, is 65. Any score above 50 is considered “excellent,” according to Qualtrics.
Correction: Due to an error in a press release, an earlier version of this story said that Corcoran Copilot will assist agents with video scripts, however it does not currently perform this function.
