A new AI tool is helping buyers answer the age-old question: where should I buy?
Australian buyer’s agency BuyersBuyers has unveiled its new property market research tool powered by AI and machine learning to help property hunters zero in on the best investment opportunities.
“Using sophisticated technology and artificial intelligence, we can answer the ultimate question – where and what to buy for any given budget, narrowing down a search area for property buyers based upon their required criteria,” Pete Wargent, co-founder of BuyersBuyers, explained.
The tool, called Where to Buy, was developed in conjunction with RiskWise Property Research and is available for free to BuyersBuyers subscribers.
Doron Peleg, CEO of RiskWise Property Research, noted that he sees a benefit for both owner-occupiers and investors who are on the hunt, as it’s able to factor in a range of different price points and property types.
“The beauty of this tool is that buyers can isolate the area that they want, the property type they want, whether it’s a house or a unit,” Mr Peleg said.
“And for those with a higher or lower budget, or requiring a higher yield of, say, 4 per cent or higher, the Where to Buy tool can adjust for those criteria and provide a suburb shortlist accordingly. It’s very user-friendly and simple to operate,” Mr Peleg said.
Mr Wargent noted that market tools such as theirs are forming an increasingly important part in buyers’ property journeys, as prospective home owners can get a huge head start on their research by harnessing AI.
“At the present time, and in today’s hot housing markets where stock levels are tight, the Where to Buy tool is a key piece of free research which every property investor and homebuyer should have in their toolkit,” Mr Wargent said.
The tool forms part of a concerted effort on the part of the BuyersBuyers to streamline the often overwhelming process of acquiring property, according to Mr Wargent.
“We’ve created a simple online process that improves the customer journey and can help buyers to reduce time, cost, and stress in their search,” he said.
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Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.