B.C. home buyers and sellers turning to AI for advice

With online tools like ChatGPT on the rise, more B.C. home buyers and sellers are turning to artificial intelligence for real estate advice, sometimes even over the direction of their own agent.

But one local Realtor warns that it could be a costly mistake.

“You’re getting average advice,” said Michael Thorne, a seasoned Realtor based in Langley with RE/MAX Lifestyles Realty.

“AI is trained on vast sets of data from the internet, so it combines everything out there. But it doesn’t know the difference between good and bad advice – it just predicts the next most likely answer.”

Thorne admits that while he’s heard the stories of B.C. Realtors missing out on sales or losing clients because of AI, he stresses that the ultimate loser is often the consumer.

“Now, not every Realtor is giving you the best possible advice, but you’re still better off. Instead of comparing one Realtor versus AI, you should be interviewing three or four Realtors and going back to that process of trying to determine where you’re best being taken care of.”

“You need someone that can cut through the noise and give you options.”

Thorne isn’t against AI altogether. 

He acknowledges its value in basic tasks. He even teaches other agents across North America how to use AI effectively, like guiding clients through the mortgage pre-approval process or how staging a home works.

But when it comes to the nuanced decisions involved in buying or selling a property, Thorne says AI can’t compete with a real estate agent’s level of knowledge.

“The nuances of buying and selling real estate are so vast, and it’s that nuance of expertise that I just don’t think AI has the ability to replicate now or anytime soon. Again, AI can offer average advice, which is useful, but I don’t think it’s very useful when you’re thinking about making the biggest decision you’ve ever made financially.”

Thorne also raises concerns about AI’s design to please users. 

“There is an inherent thing in artificial intelligence that it wants to please you. That’s one of the big downfalls of artificial intelligence, and something I teach Realtors all the time when they’re using it, to prompt it to take the contrary position, or to ask it not to please you because it wants to make you feel good.”

But with how quickly platforms like ChatGPT and CoPilot are evolving, won’t AI replace real estate agents one day?

“Will it replace us? Not if we’re doing a great job,” said Thorne.

“I think there’s certainly some Realtors who will be replaced who advocate their value to AI, and yeah, if you want to do it that way, you deserve to be replaced. But I think those that are elevating the client experience by being more human, creating a really great experience, I don’t think those people are going to be replaced – they’re too valuable.”