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REA Group has announced a partnership with OpenAI, adding a new AI tool to its services in a bid to help home owners better understand their property valuations.
The group has announced the introduction of realAssist, a conversational artificial intelligence (AI) tool powered by OpenAI, to its platform to provide users with deeper market insights.
The new “conversational companion” is the 8th AI prime feature on the platform.
REA Group said realAssist will partner with the site’s realEstimate valuation feature, enabling users to ask questions to obtain deeper insights and receive next-action prompts to educate home owners about the value of their property.
Approximately one-third of Australian homes are being tracked by their owners through realestate.com.au’s realEstimate feature, which allows them to monitor their home's predicted value and update its attributes to receive an accurate valuation.
REA Group chief product and audience officer, Jonathan Swift, said that the brand’s accelerated introduction of AI tools comes as consumer expectations undergo a significant shift.
“We’ve been investing in AI and using technology for over a decade but the capability we have now and the pace at which we are developing AI-powered products is truly transforming how buyers, sellers, renters and our real estate agent customers engage on realestate.com.au,” Swift said.
“Australians are obsessed with property, but it’s often an emotional and complex journey.”
“RealAssist aims to demystify property valuation, helping homeowners build their knowledge and empowering them to take the next step.”
With the website already expanding its search capabilities through an AI speech tool, Swift stated that the REA Group would continue to supply enhanced tools to the platform's 13 million users.
“We have been testing and learning about natural language search for some time so that we can be really intentional in how we roll it out and make sure it actually solves some pain points for property seekers,” he said.
“Buying a property is one of the biggest financial decisions many people will make and we know that they still want control over that search process.”
“We see this feature as a partner, not a replacement, for search filters.”
He said that REA Group would continue to work alongside technology businesses, such as OpenAI, as consumers indicate they are more comfortable using AI tools to support their real estate journey.
“We will continue to iterate the features we are currently deploying by adding capability, improving the user experience and developing next-generation property search and match,” Swift concluded.
ABOUT THE AUTHOR
Mathew Williams
Born in the rural town of Griffith NSW, Mathew Williams is a graduate journalist who has always had a passion for storytelling. Having graduated from the University of Canberra with a Bachelor of Sports Media in 2023, Mathew recently made the move to Sydney from Canberra to pursue a career in journalism and has joined the Momentum Media team, writing for their real estate brands. Outside of journalism, Mathew is an avid fan of all things sports and regularly attends sporting events across Sydney. Get in touch at
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