Just as AI is radically reshaping how we shop, discover new products and interact with brands, so it is transforming the homebuying journey. No more so than in how people search and engage with property listings. Agents, portals, buyers and sellers should be watching developments carefully because there will be winners and losers.
The existential threat posed by ChatGPT et al to property portals has been a growing conversation — and has driven commercial real estate share drops. While I believe that they are a long way from becoming replaced, portals that don’t evolve will be at risk. Consumers gravitate towards the easiest and quickest route to what they’re looking for; if portals are to remain relevant, they need to embrace how AI operates in their user experience.
The priority with any AI innovation should be simple: it must solve real-world challenges. And when it comes to buying, selling and renting property, that means saving people time and money.