PHOTO: AI-bot. FILE
Artificial Intelligence is set to revolutionize one Australian real estate agency, handling tasks from engaging with potential buyers and tenants to crafting property descriptions.
Barry Plant recently announced at a tech conference that their AI assistant, named Grace, will soon become the primary point of contact for those interacting with the agency online. Grace is expected to launch on their website in October.
Barry Plant’s Chief Technology Officer, Darren McCoy, shared that Grace will be capable of analyzing a property’s historical data, floor plans, local median prices, nearby sales, and comparable listings to generate detailed property descriptions. He also noted that Grace will be available 24/7, providing real-time responses to online inquiries about Barry Plant listings.
McCoy predicted that AI bots like Grace will soon be used industry-wide to follow up with prospective buyers or renters, gathering feedback on their property inspection experiences. However, he emphasized that the agency is taking a cautious approach, balancing the desire for first-mover advantage with the goal of enhancing customer service.
Ms Jennison said the speed of AI adoption was leading more buyers to believe buying a home sight unseen was no longer risky.
“We’re aiming to improve the real estate industry’s reputation without compromising on quality,” McCoy said. “Our priority is creating a better customer experience.”
The rapid adoption of AI in the real estate sector is influencing buyer behavior. Some are now more comfortable with purchasing homes without physical inspections, relying on AI-assisted technology. However, the Real Estate Buyers Agent Association of Australia (REBAA) warns that while AI offers many benefits, it cannot replace the value of an in-person property inspection.
REBAA President Melinda Jennison highlighted that AI tools like virtual walk-throughs and aerial views provide more insight than ever, but they still fall short of revealing crucial details such as neighborhood nuisances, disruptive noises, or unpleasant odors, which only a physical visit can uncover.
“A physical inspection remains the gold standard for due diligence before making a property offer,” Jennison said.
As AI continues to advance, the real estate industry is navigating how to integrate technology while maintaining the high standards of personal experience that buyers and sellers expect.
SOURCE: REALESTATE.COM.AU