AI property search not yet mainstream
The latest research by GetAgent.co.uk has revealed that while artificial intelligence is increasingly being embraced across the property industry, the technology has yet to become a mainstream tool for buyers and sellers when it comes to searching for and marketing homes.
GetAgent commissioned a survey* of UK estate agents to understand how widely AI-powered search tools are currently influencing property discovery and marketing, as well as how the industry expects this technology to shape the future of home buying and selling.
Rightmove recently became the next major name within the property industry to announce its adoption of artificial intelligence technology designed to enhance the home search experience, highlighting how the sector is increasingly exploring the potential of AI-powered tools.
However, the findings from GetAgent suggest that while the technology is becoming an increasing focus within the industry, its use by buyers and sellers remains relatively limited for now, although agents expect this to change in the years ahead.
The insight from GetAgent shows that, currently, only 22% of agents say they have seen buyers reference artificial intelligence when explaining how they found a property they are enquiring about. Similarly, when it comes to sellers, just 17% of agents report that homeowners are asking whether AI-powered tools are being used to help promote their property to buyers.
When asked whether AI-powered search tools are currently improving the visibility of property listings, only 7% of agents say they already see a benefit, whilst 93% don’t believe it is currently having an impact.
However, despite AI still being in its early stages of adoption within the housing market, estate agents remain largely optimistic about its long-term potential.
A significant 84% of agents believe it is likely that AI powered search tools will become a primary way that buyers search for property in the future, while 88% believe property businesses that fail to adopt AI search risk falling behind their competitors.
The findings suggest that while artificial intelligence has yet to significantly influence how people search for property today, the industry is already anticipating a future where AI plays a far greater role in connecting buyers with homes and shaping how property transactions take place.
Co-Founder and CEO of GetAgent, Colby Short, commented:
“Artificial intelligence has become a major talking point across the property sector, but like most new technologies, it will take time before it becomes fully integrated into how buyers and sellers behave.
Right now, the majority of buyers are still searching for homes in the same way they always have, using traditional filters and browsing listings on the major portals. However, the direction of travel is clear and the industry is preparing for a near future where AI plays a much larger role in shaping how homes are discovered online.
As more major platforms introduce AI-powered tools and the technology continues to improve, it’s likely that buyers will become far more comfortable using it as part of their property search and, for agents and wider businesses within the sector, the key will be ensuring they are ready to adapt as these tools evolve and become more widely adopted.”
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