Australian real estate agency, Barry Plant, is set to make waves in the industry by introducing an AI-powered property assistant. Named Grace, this AI bot will be capable of handling a wide range of tasks, from initial interactions with prospective homebuyers and tenants to crafting detailed property listings.
The agency announced its plans at a recent technology conference, revealing that Grace will soon become the first point of contact for those who visit their website. The AI assistant is expected to go live in October.
Barry Plant’s chief technology officer, Darren McCoy, explained that Grace possesses the ability to analyze vast amounts of data, including a home’s historical sales data, floor plans, local market trends, and comparable properties. This information is then used to create accurate and compelling property descriptions.
McCoy mentioned that one of the key advantages of Grace is its round-the-clock availability. Always on-call, the AI assistant is ready to field inquiries from prospective buyers and renters, providing instant responses and enhancing the overall customer experience.
He also predicted that the real estate industry is gradually shifting towards the use of AI bots to reach out to prospective buyers or renters for feedback on their property viewings.
However, McCoy emphasized that Barry Plant is taking a deliberate and measured approach to AI adoption. The agency recognizes the importance of careful implementation to ensure that AI technology aligns with its core values and enhances, rather than replaces, human interaction.
The aim is to make a significant impact on the industry and gain a first-mover advantage, while ultimately striving to enhance the customer experience. McCoy highlighted the goal of elevating the reputation of real estate agencies, stating that they will avoid any actions that could compromise that objective.
The Real Estate Buyers Agent Association of Australia (REBAA) has cautioned that while the industry embraces the advancements brought by AI, a physical inspection remains indispensable for thorough due diligence.
REBAA president Melinda Jennison explained that the rapid adoption of AI has led to a misconception among buyers that virtual inspections are sufficient. She stressed that physical inspections provide a level of detail and understanding that cannot be replicated through digital means.
According to Jennison, neighborhood characteristics, such as noise levels or unpleasant scents, cannot be fully assessed through virtual tours. She advised buyers to prioritize physical inspections to avoid potential issues that may arise from relying solely on AI-powered tools.
