Instead of consulting brokers, many property buyers are now turning to artificial intelligence (AI) software to conduct their own research and project analysis.

At a condominium launch event in Di An city, the southern province of Binh Duong, while many house seekers listened to sales agents presenting the project’s profitability, Vo Thi Thuy, a resident of Thu Duc city, Ho Chi Minh City opened an AI app in her smartphone, and asked whether she should buy a home in this project.

In just over a minute, the AI software delivered a detailed analysis, including assessments of the project, its developer, surrounding developments, and comparative pricing. It ultimately advised that if the purpose was investment, caution was needed due to limited profitability potential, mainly because of the large supply, which might make reselling difficult. However, it recommended the project as a good option for actual residence due to its favourable living environment.

“In 2024, for the first time, I used an AI app to evaluate the project when I bought a real estate. It gave me high-quality analysis and investment advice, and after over a year, I gained a decent profit. Since then, I’ve mainly relied on AI to assess projects instead of listening to brokers,” Thuy said.

Nguyen Quoc Dung, Southern Regional General Director of Gold Coast Holdings, shared a story about an elderly real estate investor who visited one of the company’s projects in Vung Tau. As the sales team began presenting the project, the customer immediately turned to ChatGPT on his phone to research the development.

Nguyen Van Dung, Deputy General Director of Tran Anh Land Real Estate Company, also confirmed that many customers now use ChatGPT or other AI software to explore projects.

AI consultations began appearing around late 2024. The analysis is thorough, covering legal issues, planning, and regional context, he said.

Developers embrace AI

Ngo Quang Phuc, CEO of Phu Dong Group, noted that property developers are now adopting AI tools in their sales process, as many customers come to project launches already informed via AI.

"For AI to generate accurate, high-quality project data for customers, we are compelled to publish standardised and error-free information. This ensures that when customers consult AI tools to assess a property, the recommendations they receive are reliable," Phuc said.

Nguyen Hoang, Deputy Director of Eagle Academy, which specialises in market research, stated that AI, particularly ChatGPT, is expected to significantly influence the real estate market in the near future, a trend that is unavoidable.

He cited his own experience, noting that in the past, it took him and his team several days to visit the site, analyse planning documents, assess transport links, and study the market before reaching any conclusions. Now, with ChatGPT, they can access all that information in just five minutes.

AI functions as a central information hub for businesses. From a single question, ChatGPT can search, process, analyse, and provide information in a format close to what a human would do. Users can receive information in a friendly way, as if speaking with a consultant, Hoang explained.

However, he said that he believes that current technology still cannot replace the relationship between brokers and clients.

ChatGPT is not yet a threat to the real estate market as it can handle information quickly and effectively, but it’s here to support, not replace, human advisors, he added./.VNA