How AI systems are changing buying and selling real estate

The real estate market in British Columbia, and in general, is entering a new era, driven by artificial intelligence innovations that promise to streamline the buying and selling process.

From analyzing market trends to crafting marketing materials, AI systems are stepping up to assist buyers and sellers alike. At least that’s what we keep hearing.

Today, I will explore three prominent AI platforms—Grok (developed by xAI), ChatGPT (from OpenAI) and Meta AI—and what they claim they can do to transform real estate transactions. The key word here being “claim”. In future columns, I’ll put those systems to the test to see how claims stack up against results.

First, a little about the systems. I asked each one to describe itself after I asked it a few questions.

Here are the responses:

• Meta AI Sid it is “an artificial intelligence model designed to generate human-like responses, offering assistance and information on various topics, including real estate, marketing and more.”

• ChatGPT is “an AI assistant that helps with writing, research, planning, problem-solving, and more—offering fast, intelligent support across topics like real estate, business, travel, and everyday tasks.”

• Grok “analyzes real-time data, X posts, and content like photos/PDFs to offer tailored real estate insights, market trends, and decision-making support for B.C.’s Interior.”

Each one managed to refer back to previous topics they were questioned about, so at least I know they are good at trying to market themselves.

What they all claim

All three systems share a core set of capabilities that align with the needs of the real estate industry. They can process vast amounts of data quickly, offering insights into market trends, property values and buyer preferences. Each claim to assist with research and answer questions about local regulations. Additionally, they can provide scenario-based guidance—helping users weigh options like whether to buy now or wait for a market shift. Those foundational skills make AI a potential game-changer for anyone navigating British Columbia’s competitive housing landscape, from first-time buyers in Kamloops to sellers in the Okanagan.

Here is a list of the things each AI gave me when I asked it what it could do for buyers and sellers of real estate in B.C.’s Interior. These are the overlapping functionalities, either explicitly stated or implied with similar intent across Grok, Meta AI, and ChatGPT:

1. Market trend analysis

2. Pricing strategy guidance

3. Local regulation and zoning information

4. Marketing assistance for sellers

5. Comparable sales analysis

These five items reflect a baseline of AI support for real estate, focusing on market insights, pricing, regulations, and marketing.

Unique to Grok

• Search web and X for real-time info on property values

• Analyze listing photos or PDFs for property details

• Analyze X posts for local market sentiment

• Analyze uploaded content (e.g., home photos) for appeal

• Offer insights on up-and-coming neighbourhoods

• Provide pros and cons of buying now versus waiting

• Offer guidance on timing the sale

• Explain financing options like B.C. rural home loans

Unique to Meta AI

• Neighborhood guides

• Property search assistance

• Home inspection checklist

• Community information

• School district research

• Outdoor recreation information

• Local business and amenity guides

• Relocation advice

• Staging tips

• Real estate law explanations

• Tax implication information

• Contract guidance

• Closing cost estimates

• Seller's checklist

• Real estate terminology explanations

• Local market news and updates

• Recommended professionals

• Online resource guides

• FAQ and glossary

• General information about strata properties

• Information on rural and acreage properties

• Guidance on new construction and development

Unique to ChatGPT

• Area comparisons (e.g., Kamloops vs. Vernon)

• Property feature checklists

• First-time homebuyer program info

• Mortgage and cost calculators

• Questions to ask during showings

• Offer strategy suggestions

• Reviewing strata documents (plain language summaries)

• Assessing development or rental potential

• Community profiles (schools, lifestyle, amenities)

• Commute and travel time estimates

• Social media and ad copy for listings

• Pre-listing checklists (repairs, staging, photos)

• Open house scripts and talking points

• Email and text templates for following up with leads

• Explaining offer terms and conditions

• Seller net sheet estimation

• Guidance on navigating conditional offers

Testing the claims

While these AI systems sound impressive on paper, their real-world performance remains to be seen.

Can Grok truly spot a hot neighbourhood before it hits the mainstream? Will ChatGPT’s listing descriptions attract more buyers than a human agents? Can Meta really find that one great coffee shop with the best latte?

Over the next few columns, I’ll dig more into AI and how much it can actually help with buying and selling real estate. I’ll task it with analyzing listings, researching local markets and assisting with hypothetical real estate transactions across the British Columbia interior.

We’ll see how they stack up against each other and make sure that they perform as advertised.

If you have suggestions for other real estate-related articles, please email me at [email protected].

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.